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MG Properties pays $118M for Calif. apartment community

MG Properties Group purchased a 456-unit apartment community in Vista, Calif., for $117.5 million.

SNL ImageWaterleaf Apartments in Vista, Calif.
Source: MG Properties Group

The private real estate investor and operator funded the acquisition of Waterleaf Apartments with a $76.4 million Fannie Mae loan arranged by CBRE.

Berkadia represented the sellers.