Victoria Arbors is MG Properties’ 10th Inland Empire Acquisition
MG Properties Group recently acquired Victoria Arbors Apartment Homes for $137.6 million from Sares Regis Group. This 319-unit suburban garden-style property is located in Rancho Cucamonga.
With its coveted location across from the Victoria Gardens Mall, Victoria Arbors provides access to nearby retail and outdoor leisure activities with a Walk Score of 84. Its close proximity to Interstate 15, and employers such as QVC and Amazon are job magnets.
“Victoria Arbors is ideally positioned to benefit from post-pandemic trends, as a walkable suburban community with growing nearby economic opportunity,” says Mark Gleiberman, founder and CEO of MG Properties. “The Inland Empire continues to be a top-performing market and we are excited to add this asset to our portfolio.”
Further expanding its Southern California portfolio, Victoria Arbors will mark MG Properties Group’s 10th property in the Inland Empire/Temecula Valley including the acquisition of The District Apartment Homes earlier this year. The company is targeting further acquisitions in California, Washington, Oregon, Arizona, Nevada, Utah, Colorado and Texas.
The seller, Sares Regis Multifamily Funds, was represented by Berkadia’s Tom Moran Jr., Derrek Ostrzyzek, Rachel Parsons and Mike Murphy. The property was financed with a $75 million mortgage provided by Nuveen Real Estate and arranged by Charles Christensen of Berkadia.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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