The Mogharebi Group (TMG), a vertically integrated real estate services firm specializing in multifamily investment sales and advisory services, announced that it represented JBT Property Management in the sale of Maroa Park Apartments, a 248-unit multifamily community located at 475-585 West Sierra Avenue in Fresno, California to a private buyer for $44 million.
Maroa Park Apartments benefits from immediate income upside through operational efficiencies while benefiting from strong in place market fundamentals, relative affordability, and a strategic Central Valley location that continues to support long-term population and employment growth.
TMG’s team of Executive Vice President Otto Ozen, Senior Vice President Brian Nakamura and Senior Vice President Nazli Santana represented the seller.
“As a first-time-on-the-market property since its construction in 1986, the asset offered a rare opportunity to acquire a well-maintained, large-scale property directly from original ownership,” said Nakamura. “With its substantial unit count in a supply‑constrained market, the property immediately enhances the buyer’s regional presence—supporting stronger operational alignment, improved management efficiency, and meaningful performance gains, all without requiring significant capital investment.”
Santana added, “This transaction underscores sustained investor confidence in the Central Valley and reaffirms Fresno’s position as a key market for large‑scale multifamily investments. The region’s resilient renter demand, strong employment fundamentals, and clear affordability advantage over California’s coastal metros continue to drive meaningful capital interest.”
Maroa Park Apartments is ideally located near State Route 99, providing convenient access to neighboring communities, including Bakersfield and Northern California markets. The community consists of one-bedroom and two-bedroom units with average unit size of 878 square feet.
THE MOGHAREBI GROUP
Founded in 2016 by Alex Mogharebi, The Mogharebi Group (Mogharebi.com) is a vertically integrated real estate services firm specializing in multifamily investment sales and advisory services. The firm is a leader in real estate investment and advisory, specializing in the multifamily property sector throughout the Western U.S. with nationwide reach. To date the team has closed over $10 billion of multifamily, which includes $3 billion of deed restricted affordable housing.