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California  + San Diego  + Apartments  | 

Canyon Partners, MG Acquire Multifamily in San Diego’s East Village

Canyon Partners Real Estate LLC and MG Properties said Monday they had acquired the Shift Apartments, a multifamily building in the East Village neighborhood of Downtown San Diego. Seller and acquisition price were not disclosed.

Standing 21 stories tall, Shift Apartments contains 368 residential units, 18,840 square feet of ground-floor retail and a 501-space structured parking garage. The property was completed in 2018 by Lennar’s multifamily arm. Building amenities include a fitness facility, a dog park, EV charging stations and a co-working space with WiFi and private offices.

“East Village is undergoing a meaningful transformation, supported by strong demographic trends, infrastructure investment, and proximity to San Diego’s major employment centers,” said MG Properties president Jeff Gleiberman. “We are pleased to be expanding our apartment portfolio in San Diego and partnering with Canyon on this transaction, as this asset presents a unique opportunity to apply our operational expertise.”

JLL managing directors Annie Rice and Brandon Smith arranged acquisition financing.

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Inside The Story

MG Properties' Gleiberman

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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