Bear Valley Park Apartments join MG Properties’ portfolio in $76m deal
MG Properties, a prominent player in real estate investment and management, has recently finalized the purchase of Bear Valley Park Apartments, a distinguished garden-style community in Denver, Colorado. The transaction, amounting to a substantial $76 million, signifies MG Properties’ third multifamily acquisition in the Denver region this year.
Located on the cusp of Lakewood in Southwest Denver, Bear Valley Park Apartments offers residents a blend of suburban tranquility and easy access to major employment hubs. The Southeast Business Corridor and Downtown Denver, both reachable within a 25-minute drive, position the community as an ideal residence for working professionals.
Bear Valley Park is not just a living space; it’s a lifestyle choice. It features an array of modern amenities, spacious renovated floorplans, and is conveniently close to various retail outlets, dining options, and outdoor recreational activities. This acquisition mirrors MG Properties’ belief in Denver’s burgeoning economic landscape and is a strategic addition to their extensive portfolio.
MG Properties Acquires Bear Valley Park Apartments in Denver for $76 Million. Photo courtesy of PRNewswire/MG Properties.
Jeff Gleiberman, President of MG Properties, expressed confidence in the Denver market’s growth potential, emphasizing that Bear Valley Park aligns seamlessly with the company’s long-term investment strategy. He noted the property’s stability and its location in a high-quality submarket as key factors in their decision.
The sale was facilitated by Jordan Robbins and Alex Possick of JLL Capital Markets, representing the seller, Jackson Square Properties. The financing for the deal was orchestrated by Charles Halladay, Rick Salinas, Brandon Smith, and Annie Rice, also of JLL Capital Markets, through Fannie Mae.
MG Properties, founded in 1992 by Mark Gleiberman and headquartered in San Diego, California, is a leading authority in the realm of multifamily asset management. The company’s portfolio impressively spans over 28,000 rental homes across 103 communities in states including California, Washington, Arizona, Nevada, Colorado, and Oregon. This recent acquisition in Denver is a testament to MG Properties’ commitment to enriching communities and expanding their influence in the multifamily real estate sector.