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MG Properties buys Trillium Papago apartments in Phoenix for $36.25M

Trillium

TrilliumBy Business Real Estate Weekly

MG Properties Group in San Diego, Calif. (Mark Gleiberman, principal) had gone nine years between Valley multi-family investments when it purchased a Tempe apartment community last November.

When the company closes the acquisition of a Phoenix apartment project on Feb. 26, MG Properties will have gone less than four months since its last multi-family investment in the Valley. In a deal that closed at press time, a limited partnership formed by MG Properties paid $36.25 million to acquire the 270-unit Trillium Papago apartments located at 4950 E. Van Buren Street in Phoenix.

The seller was Trillium at Papago LLC, a company formed by Trillium Residential LLC in Phoenix (Jamie Dawson, Ken Losch, principals). The transaction was brokered through Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of CBRE in Phoenix.

Continued:

Related: [EDITORIAL] Surge in home values a mixed blessing

 

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