BAKERSFIELD AND CLOVIS, CALIF. — The Mogharebi Group has arranged a $61.8 million sale of two properties in California’s San Joaquin Valley. The properties were The Grove in Bakersfield and Cottonwood Grove in Clovis. A single undisclosed seller sold each property to separate California-based buyers. The Grove is a 142-unit gated community built in 1994. Situated on an 11-acre site at 4801 Fruitvale Ave., the property features townhome-style units with private garages. Amenities include two pools, a hot tub, a fitness center and grilling stations. Approximately 20 percent of the units are designated as affordable. Rent restrictions were not disclosed. Cottonwood Grove is a 151-unit guard-gated community built in 1992. Located at 732 N. Clovis Ave., the property offers studio to three-bedroom units with one-car garages. Like The Grove, 20 percent of Cottonwood’s units are affordable.
Cottonwood Grove in Clovis, Calif., was one of two properties an undisclosed seller sold off to two separate California-based buyers. Both properties traded for a total of $61.8 million.
Mogharebi Group Arranges $61.8 Million Central California Sale
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