Source: MG Properties Group
SAN DIEGO, CA - MG Properties Group, a private San Diego-based real estate investor and operator, is further expanding its Sacramento presence, with the acquisition of Eleanor and H16 Midtown Apartments. The two newly combined communities are located along the 16th street corridor in the Midtown submarket of Sacramento.
Each community has an attractive contemporary design where residents benefit from a robust set of common area amenities, and can easily access a variety of walkable dining and entertainment options surrounding the properties.
"We are pleased to welcome these two additions to our portfolio of communities," announced Jeff Gleiberman, President of MG Properties. "Both Eleanor and H16 allow us to further scale our regional portfolio while investing in a submarket that we believe has substantial growth potential."
The sellers, The Grupe Company, SKK Developments, and Guardian Capital, were represented by Marc Ross and Hasina Ahmadi of CBRE. Financing for the transaction was led by CBRE Capital Markets' Andrew Behrens, Jesse Weber, and Stephen Baird.