The 43-unit El Mar Apartments in Kerman sold for nearly $5.6 million. Colliers image
Written by Dylan Gonzales
Jeff Kim, a multi-family investor advisor at Colliers, was recently involved in the sale of the 43-unit El Mar Apartments in Kerman that sold for nearly $5.6 million.
The property was purchased by local investor who closed on the sale of their farm and sought a replacement property within the 45-day timeline under a 1031 exchange.
Colliers Senior Vice President Bobby Fena had a relationship with the seller that played a key role in the sale, according to Colliers. That gave them early access.
Kim said that identifying off-market opportunities limits competition and allows buyers to move quickly.
“We were able to just put the deal together before it ever had to hit the open market,” Kim said.
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