MG Properties Group Acquires Midtown Phoenix Residences for $74.5 Million

Positioned in one of many space’s most wanted new neighborhoods, Centra’s proximity to mass transit and commuter freeways, in addition to its excessive WalkScore make it fascinating with easy accessibility to a rising schooling and employer base, together with IBM, Dignity Well being, ASU, Deloitte, and Pinnacle West.

Mark Gleiberman, Founder & CEO of MG Properties stated, “We’re enthusiastic about persevering with the blueprint that was laid out at Centra and sit up for persevering with success inside the Arizona market. The demand for luxurious residential housing has left plenty of alternative in Midtown.”

Additional increasing its Arizona portfolio, Centra will mark MG Properties Group’s eleventh property within the area, together with The Retreat Residences and Andante Residences in 2021.  MG Properties Group has bought 13 communities prior to now 12 months totaling over 3,750 items and $926 million in mixed worth. The corporate is focusing on additional acquisitions in Washington, Texas, Oregon, Arizona, California, Colorado, and Nevada.

The vendor was represented by Steven Nicoluzakis and David Fogler of Cushman & Wakefield. The rostrum-style property was financed with a mortgage by Key Financial institution within the quantity of $43.1 million organized by Brooks Benjamin.

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About MG Properties Group: MG Properties Group (MGPG) is a privately owned actual property proprietor and operator specializing in multi-family property. Since 1992, MGPG has acquired over 157 communities with its personal traders and institutional three way partnership companions totaling over 35,800 items, representing greater than $8.0 billion in whole asset worth, together with 28,800 items since 2010. The corporate’s present portfolio consists of greater than 21,000 items valued at $5.6 billion in California, Washington, Arizona, Nevada, and Oregon. MGPG employs trade consultants main groups in acquisitions and underwriting in addition to asset, property, development, and funding administration. For extra data, go to

SOURCE MG Properties Group

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