MG Properties’ $90M Multifamily Buy Expands Bay Area Presence
MG Properties, a real estate investment and management company based in San Diego, acquired Artist Walk Apartments, located in Fremont, from Clarion Partners. The sale price was $89.75 million for the 185-unit mixed-use community with 30,000 square feet of ground-floor retail.
Jeff Gleiberman, president of MG Properties, said, “We continue to believe in the long-term economic potential of the Bay Area and are pleased to add another high quality property to our portfolio there.”
Clarion Partners was represented by Jason Parr, Seth Siegel and Scott MacDonald of Cushman and Wakefield. Financing for the transaction was provided by Freddie Mac and arranged by CBRE Capital Markets’ Andrew Behrens, Jesse Weber and Stephen Baird.
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Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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).