Source: MG Properties Group
CAMARILLO, CA - MG Properties Group, a privately held real estate investor and operator headquartered in San Diego, California, announced their acquisition of Andorra Apartments in Camarillo, California. The 450-unit community brings 2021 to a close with over $1.9 billion in total acquisitions.
"We are thrilled to be further scaling our Southern California portfolio," said Mark Gleiberman, Founder & CEO of MG Properties Group. "Andorra is an ideal fit for our long-term oriented private capital investor base.
With proximity to both Los Angeles and Santa Barbara, Camarillo is a uniquely situated arterial hub combining a high-quality suburban living environment with access to multiple job centers. Its well-executed design offers a perfect blend of rustic California style with modern refinement.
The buyer was represented by Joseph Smolen, Mark Peterson and Geoff Boler of Eastdil Secured. The acquisition of the community was financed with a loan from Nuveen Real Estate and arranged by Lee Redmond and Greg Stampley of Eastdil Secured.
Andorra marks the 19th acquisition in what has been a benchmark year for the company – totaling over $1.9 billion in combined value. MG Properties is continuing to target further acquisitions in Washington, Oregon, California, Arizona, Nevada, Utah, and Colorado.