MG Spends $76M on Denver-Area Apartments

MG Properties has purchased Bear Valley Park Apartments, a 260-unit, garden-style community in Denver, for $76 million, or $292,000 a unit. The closing marks MGP’s third multifamily acquisition of 2023 in Denver. 

The seller, Jackson Square Properties, was represented by a JLL team led by Jordan Robbins. Financing for the transaction was provided by Fannie Mae and arranged by JLL Capital Markets. 

Situated in Southwest Denver on the border of Lakewood, the well-established residential community offers residents a high-quality suburban living experience with convenient access to employment centers throughout the metro area, including the Southeast Business Corridor and Downtown Denver, both within a 25-minute drive. Bear Valley Park boasts a desirable range of modern amenities, such as large renovated floorplans, and is within walking distance of various retailers and eateries. 

MG’s Jeff Gleiberman, “As a stabilized property in a high-quality submarket, Bear Valley Park is an excellent fit for our long-term investment strategy.”