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.
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SOURCE MG Properties