Northmarq arranges $6M sale of Alamos Gardens apartments in Clovis, CA
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CLOVIS, Calif. — Northmarq's Fresno Investment Sales team of Robin Kane and Brendan Kane facilitated the $6.65 million sale of Alamos Gardens, a 59-unit garden-style apartment community at 2205 Peach Ave. in Clovis, California.
Northmarq represented the seller, a Southern California family office. The buyer was MegaNova LP.
"Alamos Gardens attracted a number of strong offers due to its premier location in Clovis,” said Robin Kane. “The transaction also allowed the buyer to complete a 1031 exchange.”
Built in 1973, Alamos Gardens is located in one of California's fastest-growing rental markets. The property fronts Peach Avenue, which sees over 11,500 vehicles daily. Nearly half of the units (29) have been renovated with modern features, including resurfaced countertops, refinished cabinetry, and updated appliances and fixtures.
The property is part of a top-ranked school district, including Alta Sierra Intermediate, University High and Buchanan High, and is seven minutes from California State University, Fresno. Major employers, such as Clovis Unified School District and Clovis Community Medical Center, are within 11 minutes of the property.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
