MG Properties expands Arizona portfolio with $107 million multi-family deal

SAN DIEGO, August 31, 2022 /PRNewswire/ — MG Properties, a privately held San DiegoA New York-based real estate investor, owner and operator has purchased 2150 Arizona Ave South Apartments l for $107 million.

Renamed 2150 Apartments, this Chandler sub-market of Phoenix has some of the strongest multi-family fundamentals in the metro due to its proximity to multiple employment corridors, one of from arizona the best school systems, award-winning planned communities and relative affordability. With thoughtfully designed one, two and three bedroom floor plans, the community offers a variety of options for area residents.

“The Phoenix the economy has enjoyed tremendous growth, which we expect to continue over our long-term investment horizon,” said Jeff Gleiberman, Chairman of MG Properties. “2150 Apartments offers a value-added opportunity to continue a proven interior renovation program to increase rents, while remaining below new-build rents.”

The seller was represented by Marc Forrester and Dan Cheyn with Berkadia. The acquisition of the community was financed by a loan from Fannie Mae, initiated by Chuck Christensen and Lowell Takahashi with Berkadia.

To find out more visit: https://www.2150apartments.com

ABOUT MG PROPERTIES

MG Properties is a fully integrated private real estate company specializing in the investment, redevelopment and management of multi-family assets. Based at San Diego, CaliforniaMG was founded in 1992 by Marc Gleiberman with a mission to enrich communities. MG’s current portfolio includes over 28,000 rental units in California, Washington, Arizona, Nevada, Coloradoand Oregon, including 88 municipalities. For more information, visit www.mgproperties.com.

ABOUT BERKADIA®:

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, providing a strong suite of services to our multi-family and commercial clients. Through its integrated mortgage banking, investment sales and services platform, Berkadia offers comprehensive real estate solutions for the entire life cycle of our clients’ assets. To learn more about Berkadia, visit www.berkadia.com.

Properties of the MG SOURCE

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