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MG Properties Buys 768-Unit Complex in Anaheim


A JV of San Diego-based MG Properties Group and Boston-based Intercontinental Real Estate Corp have made the largest single apartment sale (by units) in SoCal since 2013. The two picked up the 768-unit Madison Park Apartments in Anaheim for an undisclosed sum. MG Properties' Paul Kaseburg previously told us the firm wasn't avoiding San Diego, as it was having a hard time finding justifiable value-add plays in the market. But he says the buy fits well in the company's strategy, which is mostly picking up stabilized assets with potential value-add in mind.