MG Properties Acquires Two Sacramento Communities in Multifamily Deal

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Aug 11, 2022, 19:30 ET

SAN DIEGO, Aug. 11, 2022 /PRNewswire/ -- MG Properties Group, a private San Diego-based real estate investor and operator, is further expanding its Sacramento presence, today with the acquisition of Eleanor and H16 Midtown Apartments. The two newly combined communities are located along the 16th street corridor in the Midtown submarket of Sacramento.

Each community has an attractive contemporary design where residents benefit from a robust set of common area amenities, and can easily access a variety of walkable dining and entertainment options surrounding the properties.

MG Properties Acquires Two Sacramento Communities in Multifamily Deal

"We are pleased to welcome these two additions to our portfolio of communities," announced Jeff Gleiberman, President of MG Properties. "Both Eleanor and H16 allow us to further scale our regional portfolio while investing in a submarket that we believe has substantial growth potential."

The sellers, The Grupe Company, SKK Developments, and Guardian Capital, were represented by Marc Ross and Hasina Ahmadi of CBRE. Financing for the transaction was led by CBRE Capital Markets' Andrew Behrens, Jesse Weber, and Stephen Baird.

To learn more visit: https://www.eleanorh16.com/

ABOUT MG PROPERTIES

MG Properties is a privately owned, fully integrated real estate company specializing in the investment, redevelopment, and management of multi-family assets. Headquartered in San Diego, California, MG was founded in 1992 by Mark Gleiberman with the mission to enrich communities. MG's current portfolio is comprised of over 28,000 rental homes in California, Washington, Arizona, Nevada, Colorado, and Oregon, including 88 communities. For additional information, visit www.mgproperties.com.

SOURCE MG Properties