MG Properties acquires Artist Walk Apartments in Fremont, California
MG Properties, a US-based real estate investment and management company, has announced its acquisition of Artist Walk Apartments, a mixed-use community located in Fremont, California. The financial details of the transaction have not been disclosed.
Artist Walk Apartments: A Mixed-Use Community in Fremont
Artist Walk Apartments is a 185-unit mixed-use community with 30,000 sq. ft. of ground floor retail. Completed in 2017 and strategically located in the heart of Fremont, the property boasts a dynamic mix of popular local retail tenants. This vibrant mixed-use setting not only adds value but also enhances a sense of community and provides onsite amenities for residents.
A New Addition to MG Properties’ Bay Area Portfolio
Jeff Gleiberman, President of MG Properties, stated, “We are thrilled to welcome Artist Walk Apartments to the MG Properties portfolio. We continue to believe in the long-term economic potential of the Bay Area and are pleased to add another high-quality property to our portfolio there.”
Artist Walk Apartments joins MG Properties portfolio in Bay Area boost. Photo courtesy of PRNewswire/MG Properties.
The Transaction: Seller and Financing
The seller, Clarion Partners, was represented in the transaction by Jason Parr, Seth Siegel, and Scott MacDonald of Cushman and Wakefield. Financing for the acquisition was provided by Freddie Mac and arranged by CBRE Capital Markets’ Andrew Behrens, Jesse Weber, and Stephen Baird.
By acquiring Artist Walk Apartments, MG Properties solidifies its position in the competitive Bay Area real estate market, continuing its strategy of investing in high-quality properties. The addition of this Fremont-based mixed-use community further enriches the company’s robust portfolio in the region.