MG Properties Group based in Sorrento Valley has acquired two apartment complexes in the Portland, Oregon, suburb of Wilsonville for $92.1 million.
The acquisitions are the 274-apartment Domaine at Villebois that sold for $69.5 million and the 126-apartment Haven at Charbonneau that sold for $22.6 million.
Built in 2008, Domaine at Villebois was sold by a partnership of Holland Partner Group and Heitman, LLC.
Haven at Charbonneau was built in 1990 and was sold by TruAmerica Multifamily.
Both Domaine and Haven were represented by Ira Virden, senior managing director of HFF, and HFF Director Carrie Kahn.
Financing was arranged by HFF Senior Managing Director Charles Halladay and directors Rick Salinas, Scott Gilson and Charlie Watson.
“These acquisitions reflect our continued belief in the economic potential of the Pacific Northwest and allow MG Properties Group to further create economies of scale to enhance the performance of our existing regional portfolio,” said Mark Gleiberman, CEO of MG Properties Group.
MG Properties Group has bought 12 properties in the past 12 months with more than 3,200 apartments valued at more than $880 million.
The company is targeting additional acquisitions in Washington, Oregon, Arizona, California, Colorado and Nevada.