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Phoenix & Southwest  + Finance  | 

MG Properties Boosts Phoenix Portfolio with $145M Acquisition

San Diego-based MG Properties Group acquired Andante Apartments in Phoenix from Seattle-based Security Properties for $145.25 million. The 576-unit apartment complex is located at 15801 S. 48th St. in the Ahwatukee Foothills area.

MG Properties Group’s Mark Gleiberman says, “The Phoenix market has demonstrated resilience during the COVID crisis, and we believe in the region’s potential for economic growth in the coming years.”

The Class B property contains 32 three-story buildings on 25.51 acres that were built between 1999 and 2002. The floor plan mix includes 408 one-bedroom/one-bath units and 168 two-bedroom/two-baths. Units have nine-foot ceilings, large bay windows, stainless steel appliances and attached private patios. The gated community has three resort-style pools, a sundeck, cabanas, a BBQ pavilion, a fitness center, a pet park, covered parking and garages.

CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch represented seller. CBRE Capital Markets’ Rocco Mandala arranged $99,459,000 in new Fannie Mae debt for the deal.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
  • ◦Sale/Acquisition
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