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MG Properties Group Claims Murrieta MF from MBK

MBK Rental Living divested Mitchell Place, a 230-unit new Class A apartment community in Murrieta to MG Properties Group. The deal is one of the largest apartment transactions of 2020 in the Inland Empire, though pricing was undisclosed.

MBK Rental Living’s Craig Jones says, “Mitchell Place established a new benchmark for rental living in SW Riverside County, with exceptional design, beautiful interior and exterior amenities, and designer-selected unit finishes. The location, combined with its exceptional design, made Mitchell Place an attractive investment opportunity for buyers despite the challenges posed by the pandemic.”

Opened in June 2019, the gated community at 35995 Mitchell Rd. consists of flats and townhomes with nine floorplans in one-, two- and three-bedroom configurations. The amenity-filled property provides easy access to the 15 and 215 freeways.

MG Properties Group’s Mark Gleiberman says, “The property’s strong performance trends and the region’s robust economy make it an excellent fit for our long-term yield-oriented investment strategy.”

Berkadia’s John Chu and Ed Rosen brokered the deal on behalf of the seller.

For comments, questions or concerns, please contact Dennis Kaiser

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Connect With MBK Rental Living’s JonesConnect With MG Properties Group’s GleibermanConnect With Berkadia’s Chu

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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