The Mogharebi Group (TMG) arranged the $127-million sale of Regency Palms, a 310-unit gated multifamily community in Huntington Beach, in what is one of the largest multifamily transactions in Orange County over the past 12 months. The transaction was arranged by SVPs Brett Bayless and Bryan LaBar and associate advisor Nick Earl from the TMG headquarters in Costa Mesa.
The seller, an institutional investment firm which owned the asset for nearly 30 years, sold it to a private local Orange County buyer.
“Today’s market dislocation is creating an opportunity for private investors with a longer, often multigenerational, investment horizon and deeper knowledge of local submarkets,” said LaBar. “Transactions such as these can be the early signs of a stabilizing market, and an indication of the long-term demand for Southern California assets.”
Bayless added, “There is a high barrier to entry, especially in Orange County’s coastal communities which is considered a safe haven for many investors due to the strong demand for rental housing and high replacement costs. Much of the inventory is considered long-term hold assets so it’s rare to have an opportunity to acquire a property, especially of this size and quality in this market.”
