Subjects: TNM, RLE
MG Properties Acquires Bear Valley Park Apartments in Colorado for $76M
SAN DIEGO, Dec. 8, 2023 /PRNewswire/ -- MG Properties, a leading real estate investment and management company, has completed the acquisition of Bear Valley Park Apartments, a premier garden-style community located in Denver, Colorado for a total purchase price of $76 million. The closing marks MGP's third multifamily acquisition of 2023 in the Denver area.
Situated in Southwest Denver on the border of Lakewood, the well-established residential community offers residents a high-quality suburban living experience with convenient access to employment centers throughout the metro area, including the Southeast Business Corridor and Downtown Denver, both within a 25-minute drive. Bear Valley Park boasts a desirable range of modern amenities and large renovated floorplans, and is within walking distance to a variety of retailers, eateries, and outdoor recreation.
"This investment reflects our confidence in Denver's economic growth potential and allows us to further leverage the efficiency of our regional operations there," said Jeff Gleiberman, President of MG Properties. "As a stabilized property in a high-quality submarket, Bear Valley Park is an excellent fit for our long-term investment strategy."
The seller, Jackson Square Properties, was represented by Jordan Robbins and Alex Possick with JLL Capital Markets. Financing for the transaction was provided by Fannie Mae and arranged by Charles Halladay, Rick Salinas, Brandon Smith, and Annie Rice with JLL Capital Markets.
To learn more visit: https://www.rentbearvalleypark.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 Properties 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, across 103 communities. For additional information, visit www.mgproperties.com
ABOUT JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
SOURCE MG Properties
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