The Mogharebi Group (TMG) represented Bay Area-based Tesseract Capital Group in the sale of The Marc at 1600, a 100-unit multifamily community located at 1600 Standiford Ave. in Modesto. The buyer was a private family office from Southern California, which paid $26.6 million.
TMG’s team of EVP Otto Ozen, SVP Brian Nakamura and SVP Nazli Santana represented the seller. “This property offered the buyer an exceptional opportunity to establish immediate scale and a meaningful foothold in one of the region’s most competitive submarkets, supported by a loan structure that enhances financial efficiency in today’s high‑rate environment,” said Nakamura. “The buyer intends to maintain seamless operational continuity for residents while optimizing backend systems to drive yield and elevate long‑term asset performance.”
The Marc at 1600 benefits from institutional quality and a supply-constrained market, according to TMG. The property was well capitalized and contained an assumable HUD loan of 3.8% loan.
