Newport Beach-based MIG Real Estate, LLC opened escrow on two new Opportunity Zone ground-up multifamily developments in California: a 140-unit rental property in Hollywood and a 240-unit rental property in Fremont.
MIG’s Elizabeth Cobb says, “We’re excited to have the opportunity to develop and improve these two properties by adding much-needed housing to these communities. These projects are important steps in our continued strategy to seek out Opportunity Zone investments for development in key markets.”
The projects mark MIG’s entry into the Los Angeles and Bay Area markets. They represent the continuation of an investment strategy launched in 2020 to reposition MIG’s portfolio by acquiring and developing new projects in key urban markets.
The firm has allocated $100 million in equity to develop Opportunity Zone sites throughout the Western United States. It has also made several strategic hires including Cobb (Dir. of Development), Michael Englhard (COO), Chris Wright as (Dir. of Construction), and Colin Bagwell (Acquisitions & Development Manager).
*Pictured The Clarkson, a 114-unit multifamily community in Denver.
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.
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