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SoCal Buyer Bags Apartments Near Phoenix Zoo


MG Properties, which is based in San Diego, acquired Trillium Papapo Apartments from the locally based Trillium Residential for $36M, according to the Phoenix Business Journal. The buyer plans to rename the 270-unit property, which is near the Phoenix Zoo and dates from 2007, Ascent at Papago Park. MG Properties has been an aggressive buyer lately, scooping up 700 units in various markets for $125M in the last six months. It's active in the western United States. [PBJ]