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MG Properties acquires 2 Los Angeles multifamily assets

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MG Properties acquires 2 Los Angeles multifamily assets

MG Properties Group bought two apartment properties aggregating 397 units in Los Angeles for $139.7 million, with plans to refurbish both assets, REBusiness Online reported.

An undisclosed seller divested the 195-unit The Enclave at Warner Center in the Warner Center/Woodland Hills neighborhood for $69.5 million and the 202-unit Meridian Place Apartment Homes in the Northridge district for $70.2 million.

CBRE arranged acquisition financing for the transactions, according to the report.