MG Properties Group has announced the acquisition of Eleanor and H16 Midtown Apartments. Newly combined, the properties offer studio, one-, and two-bedroom apartment homes ranging in size from 492 to 1,095 square feet.
“We are pleased to welcome these two additions to our portfolio of communities,” announces 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.”
Residents enjoy elevator access, high-end finishes, 10- to 14-foot ceilings, smart home technology, quartz countertops, stainless steel appliances, large private balconies, in-unit laundry, and controlled access with designated parking. Community amenities include Amazon lockers, electric car charging stations, rooftop decks, controlled access bike storage and bike repair rooms, a co-working lounge, a dog wash, social lounges, and fitness centers.
MG Properties acquired the two communities from The Grupe Co., SKK Developments, and Guardian Capital. They were represented by Marc Ross and Hasina Ahmadi of CBRE. The financing was led by Andrew Behrens, Jesse Weber, and Stephen Baird of CBRE Capital Markets.
MG Properties’ current portfolio encompasses over 28,000 rental homes in Arizona, California, Colorado, Nevada, Oregon, and Washington, including 88 communities. In Sacramento, the firm also owns and manages The Landing at College Square.