
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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- ◦Sale/Acquisition