The sale of the 151-unit Cottonwood Grove apartment complex in Clovis, California, represents a meaningful investment in the city’s continued growth and quality of life.
With its mix of spacious units, modern amenities and 20% rent-restricted housing that supports long-term affordability, the property strengthens the local housing landscape while reinforcing Clovis’ reputation as one of the Central Valley’s most desirable, fast-growing communities.
The transaction brings renewed attention to the city’s expanding opportunities, signaling confidence in its future and delivering tangible benefits for residents, businesses and the broader regional economy, earning it a 2026 CoStar Impact Award for sale/acquisition of the year, as judged by real estate professionals familiar with the market.
Despite a crowded buyer field, the sales team navigated a complex, multiparty process to maximize value and align messaging with varied investor priorities. The result is a transaction that not only reflects the strength of the Clovis market but also showcases the power of targeted strategy, disciplined execution and a compelling long-term investment story.
About the deal: Ideal Capital sold the complex to a private investor for $33.37 million. The complex was about 97% leased at the time of sale, with asking rents for market units at $2,071 per month, with no concessions.
What the judges said: Jordan Amarant, a broker associate at PMZ Commercial Real Estate, said large multifamily transactions have significant market impacts, often an indication of the overall economy's health.
They made it happen: Executive Vice President Otto Ozen, Senior Vice President Brian Nakamura and Senior Vice President Nazli Santana of Mogharebi Group represented the seller. Managing Director Robin Kane and Senior Vice President Brendan Kane of Northmarq represented the buyer.