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Wednesday, 14 August 2019

2 Southern California Apartment Properties Fetch $139.5Mln

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MG Properties Group has paid $139.5 million for two apartment properties with 397 units in Southern California.

The San Diego investment manager bought the properties from Western National Group of Irvine, Calif.

MG paid $69.25 million, or $355,128/unit, for the 195-unit Enclave at Warner Center in Woodland Hills. Marcus & Millichap's Institutional Property Advisors unit brokered the deal.

The property, at 6710 Variel Ave., has studio, one- and two-bedroom units with granite countertops, washers and dryers,...

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“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:

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Additional Info

  • Syndicate to Realpoint: No
  • States: California
  • Sector: Multifamily
  • Subject: Property Acquisitions (ACQ)
  • Valuation: Between $100 million and $150 million
  • Private: Yes
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Dan Moynihan

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