Source: MG Properties
SAN DIEGO, CA - 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.