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Village Apartments - Modesto, CA

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44 units

We had been in contact with the ownership of the Village Apartments for several years. The family typically acquires with the intention of holding for the long-term. While that was the intention with Village, the opportunity to sell the asset and trade into a larger deal had presented itself. The owner entered into contract on a legacy property in Modesto and decided to explore a sale of the Village Apartments. If the price was right, they would exercise a 1031 Exchange. Our team was tasked with finding a qualified, serious buyer that could perform quickly. We immediately got to work in underwriting the property and creating a marketing flyer. We targeted our calls and marketing efforts towards buyers of 40+ unit complexes in the Modesto community and within a week we had a stellar offer in front of the ownership from a qualified buyer. With an experienced buyer and seller, and us there to assist, we were able to come to a successful close just a couple months after being charged with the task.

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