MG Properties Pays $92M To Bolster Residential Folder

Law360, New York (October 2, 2012, 6:04 PM EDT) -- MG Properties Group has acquired a portfolio of four apartment buildings with a total of 1,190 units in Southern California for $91.75 million, the San Diego-based real estate investor and operator announced Tuesday.

The portfolio includes the 416-unit Cordova Park, 320-unit Granada Villas, 314-unit Sienna Heights, and 140-unit Woodlands West. The Lancaster, Calif., properties sit along the I-14 freeway and were all built between 1984 and 1990, the company said.

MG Properties founder and President Mark Gleiberman on Tuesday lauded the acquisition, calling it a unique...
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