Client Spotlight

MG Properties

By Yardi Blog Staff on Jan 25, 2019 in People

Yardi client MG Properties Group, based in San Diego, focuses on the acquisition, development, rehabilitation and management of apartment communities throughout the western United States.

Over the last 26 years, CEO Mark Gleiberman has steered the company to the acquisition of more than 140 properties totaling approximately 20,000 units, and the management of more than 17,000 apartment homes in 55 communities in high-growth cities in California, Arizona, Nevada, Washington and Oregon, worth more than $2 billion combined.

In October, the company acquired Carillon Apartment Homes, a 264-unit community in Woodland Hills, Calif., for $93 million. In February, MG Properties Group acquired Thorncroft Farms Apartments, a 340-unit multifamily community in Hillsboro, Ore., for $97.5 million.

Talk about MG Properties Group focus and the areas you serve.

Gleiberman: Historically, we have been a value-add buyer. We have in-house property management, in-house construction management, but there has been a bit of a shift in the last year or two, as we have seen the value-add deals getting extremely competitive and bid up in price. In that time, we shifted a bit to deals we would not have previously thought about buying, we are now buying. This includes more brand-new construction.

This interview was originally published in Multi-Housing News, a Yardi publication. Read the rest of the interview with MHN’s Keith Loria here.