June 3, 2016 Comments Off on MG Properties’ Record $142M MF Asset Sale in IE Views: 344 California, California News, Inland Empire, West

MG Properties’ Record $142M MF Asset Sale in IE

San Diego-based MG Properties Group and affiliates of New York-based Rockwood Capital, LLC sold Terracina, a multifamily property located in Ontario, CA, to an undisclosed buyer for $142 million. The transaction is believed to be the largest ever of a single multifamily property in the Inland Empire.

The 736-unit garden style apartment community was built in 1988 and is located near Ontario International Airport and the burgeoning Eastvale community. The property was acquired in a joint venture between MG Properties and an affiliate of Rockwood Capital in January 2013 for $95 million.

The Harris Group at Institutional Property Advisors’ Kevin Green and Greg Harris represented the sellers.

MG Properties Group’s Mark Gleiberman says, “Terracina was a great investment for our partnership with Rockwood Capital. It is a well-located property that still offers excellent potential for the buyer.”

Connect with MG Properties’ Gleiberman

Connect with IPA’s Green

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: , , , , ,

Comments are closed.