MG Properties Group Acquires 450-Unit Andorra Apartments in Camarillo California
SAN DIEGO, Dec. 21, 2021 /PRNewswire/ -- MG Properties Group, a privately held real estate investor and operator headquartered in San Diego, California, announced their acquisition of Andorra Apartments in Camarillo, California. The 450-unit community brings 2021 to a close with over $1.9 billion in total acquisitions.
"We are thrilled to be further scaling our Southern California portfolio," said Mark Gleiberman, Founder & CEO of MG Properties Group. "Andorra is an ideal fit for our long-term oriented private capital investor base."
With proximity to both Los Angeles and Santa Barbara, Camarillo is a uniquely situated arterial hub combining a high-quality suburban living environment with access to multiple job centers. Its well-executed design offers a perfect blend of rustic California style with modern refinement.
The buyer was represented by Joseph Smolen, Mark Peterson and Geoff Boler of Eastdil Secured. The acquisition of the community was financed with a loan from Nuveen Real Estate and arranged by Lee Redmond and Greg Stampley of Eastdil Secured.
Andorra marks the 19th acquisition in what has been a benchmark year for the company – totaling over $1.9 billion in combined value. MG Properties is continuing to target further acquisitions in Washington, Oregon, California, Arizona, Nevada, Utah, and Colorado.
To learn more visit: andorracamarillo.com
About MG Properties Group
MG Properties Group 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 24,000 rental homes in California, Washington, Arizona, Nevada, Colorado, and Oregon, including over 80 communities. For additional information, visit www.mgproperties.com.
SOURCE MG Properties Group
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