MG Properties has entered the Texas market with the acquisition of a luxury multifamily community in the Dallas-Fort Worth metroplex, underscoring the firm’s commitment to strategic growth and market diversification.
The private real estate investment firm, which is headquartered in San Diego, has added the 361-unit Ovation at Galatyn Park in Richardson to its portfolio, which now comprises over 32,000 units across Arizona, California, Colorado, Nevada, Oregon, Texas, and Washington.
Completed last year in the heart of North Dallas, the community offers one-, two-, and three-bedroom units with granite and quartz countertops, upgraded appliances, and smart-home technology. In addition, live-work residences are featured on the plaza level. Amenities include a resort-style pool with a tanning ledge and cabanas; a fitness center with a spin room; a coworking lounge; a clubroom with billiards; a podcast studio; a bark park; a bike storage and repair station; and a sky lounge.
“We are proud to enter the Texas market with such a high-caliber asset,” said president Jeff Gleiberman. “The Dallas-Fort Worth region represents one of the most dynamic and resilient rental markets in the country. We’re excited to bring our platform to Texas and continue growing our presence in the region.”
CBRE’s Daniel Baker, Johnathan Makus, Kevin O’Boyle, and Chandler Sims represented the sellers, which included Legacy Partners and an institutional investor. Financing for the transaction was led by CBRE Capital Markets’ Stephen Baird, Andrew Behrens, and Jesse Weber.
