MG Gets Its Marquee
MG Properties president Mark Gleiberman (snapped at Bisnow's San Diego Multifamilty Summit last fall) just wrapped up $80M in acquisitions: four multifamily properties in California totaling 770 units. Mark says the properties are located in its existing markets and will benefit from efficiencies of scale. The largest property, The Marquee, a 236-unit complex in North Hollywood near the NoHo Arts District, was purchased from Cirrus Asset Management for more than $27M. Look for more from MG: the firm anticipates closing an additional $250M in acquisitions over the next 12 months.