SAN DIEGO, April 22, 2022 /PRNewswire/ -- MG Properties, a private San Diego-based real estate investor, owner, and operator is further expanding their presence in the Orange County, CA with the acquisition of The Herald Apartments.
Built in 2021, this 215-unit community is a rare opportunity to acquire a "class A" asset in Placentia. The strong demographics of the surrounding area make The Herald's exceptional amenity package and high-quality finishes well suited to the market.
Jeff Gleiberman, MG Properties' Managing Director, said "The Herald is 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 Jonathan Merhut of Eastdil Secured. The property was financed by Affiliates of Apollo Global Real Estate Management L.P., originated by Lee Redmond and Greg Stampley also of Eastdil Secured.
To learn more visit: www.heraldapartments.com
ABOUT MG PROPERTIES
MG Properties is a privately owned, fully integrated real estate company specializing in the investment, redevelopment, and management of multi-family assets. Headquartered in San Diego, California, MG was founded in 1992 by Mark Gleiberman with the mission to enrich communities. MG's current portfolio is comprised of over 28,000 rental homes in California, Washington, Arizona, Nevada, Colorado, and Oregon, including 95 communities. For additional information, visit www.mgproperties.com.
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SOURCE MG Properties