MG Properties Buys Two Multifamily Communities in Gresham
San Diego-based real estate investment firm MG Properties has purchased two Gresham-area apartment complexes for $60.8 million.
MG Properties bought the Mountain High Apartments for $18.8 million and the Parkside Apartments for $42 million. The two apartments comprise 337 units, reported the Portland Sound Business Journal. HFO Investment Real Estate’s Tyler Johnson and Cody Hagerman represented the seller in the transaction. Financing for the purchase was provided by Fannie Mae and secured by Walker Dunlop’s Bryan Frazier, Blake Hockenbury, Chris Botsford and Jeff Burns.
Located at 1930 S.E. Sixth St., Mountain High Apartments features 112 one-, two- and three-bedroom apartments and was built in 1996. Parkside Apartments at 2831 S.E. Palmquist Road has 225 one-, two- and three-bedroom units and was built in 1999.
MG Properties has been expanding its Oregon footprint with apartment acquisitions over the last few years. The investment firm has 11 other communities across the Portland region.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout