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9/16/26
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The Marc at 1600, a 100-unit multifamily community in Modesto, has landed a new owner in a recent $26.6 mil ($266k/unit) trade. The property, located at 1600 Standiford Ave, was sold by NoCal-based Tesseract Capital Group.
The Marc at 1600 benefits from institutional quality and a supply-constrained market. The property was well capitalized and contained an assumable HUD loan of 3.8% loan.
The Marc at 1600 is ideally located near the area's top employers and just minutes away from Standiford Square Shopping Center, Vintage Faire Mall, and Highway 99. The community consists of one-bedroom and two-bedroom units with average unit size of 798 sf.
TMG’s team of Executive Vice President Otto Ozen, Senior Vice President Brian Nakamura and Senior Vice President Nazli Santana represented the seller.
“This property offered the buyer an exceptional opportunity to establish immediate scale and a meaningful foothold in one of the region’s most competitive submarkets, supported by a loan structure that enhances financial efficiency in today’s high rate environment,” said Nakamura. “The buyer intends to maintain seamless operational continuity for residents while optimizing backend systems to drive yield and elevate long term asset performance.”
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