California + Orange County + Apartments | April 25, 2022

MG Properties Acquires New Multifamily in Placentia

San Diego-based MG Properties has expanded its Orange County, CA presence, acquiring The Herald Apartments in Placentia. The complex, located at 150 E. Crowther Ave, is a new 215-unit community, built just last year.

Jeff Gleiberman, MG Properties’ Managing Director, said in a news release, “The Herald is an ideal addition to our Southern California portfolio. We believe Orange County has strong fundamentals and is positioned well for growth in the near term.”

The seller, Lyon Living, was represented by Mark Peterson, Joseph Smolen, Geoff Boler and Jonathon Merhut of Eastdil Secured, with financing originated by Eastdil through Affiliates of Apollo Global Real Estate Management L.P.

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About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.