MG Gets Taste of Tuscany
San Diego-based MG Properties Group has picked up Tuscany Ridge Apartments in Temecula for nearly $39M in what company officials describe as a value-add play. MG's Rob Singh calls the buy a "strategic fit," given its proximity to the company's existing portfolio and his expectation for growth in the Inland Empire. The 1999 property includes 220 units, and is adjacent to MG's Sage Canyon Apartments. MG plans to invest more than $3M in capital improvements.