November 22, 2024 1:04 pm
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So. Calif.-based investor enters market with $47M purchase of 392 apartments

Stone Canyon apartments in Mesa

Stone Canyon apartments in MesaBy Business Real Estate Weekly

Three tenant-in-common (TIC) companies formed by Khosro Khaloghli in Costa Mesa, Calif. paid $47 million ($119,899 per unit) to buy the 392-unit Stone Canyon apartments located at 5210 E. Hampton Avenue in Mesa.

The sellers were 34 TIC entities formed by SCI Real Estate Investments in Los Angeles, Calif. (Marc Paul, Bob Robbotti, co-founders). The property was listed and sold through Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE in Phoenix.

The seller was advised by National Asset Services Inc. in L.A. (Karen Kennedy, pres.). The buyer was represented by Cliff David and Steve Gebing of Marcus & Millichap Real Estate Investment Services in Phoenix. The investment is the first in the Valley for Khaloghli, who is affiliated with Olen Residential Realty Corp. in Newport Beach, Calif. (Igor Olenicoff, principal).

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