MG Properties Makes Bold Move into Texas Markets with Major Acquisition

MG Properties, a leading private real estate investment firm well-known for its focus on multifamily properties, has recently embarked on an exciting journey into the Texas market. This significant step forward came with the acquisition of Ovation at Galatyn Park, a premier luxury apartment community based in Richardson, one of the most vibrant suburbs of Dallas.

This acquisition marks a landmark event for MG Properties, as it is their first investment in the Lone Star State. The move reflects the company's strategic commitment to growth and diversification in various markets. With this latest addition, MG Properties continues to expand its impressive portfolio, which now encompasses high-quality residential communities across the western United States.

Jeff Gleiberman, President of MG Properties, expressed his enthusiasm for the acquisition, stating, "We are proud to enter the Texas market with such a high-caliber asset. The Dallas-Fort Worth region represents one of the most dynamic and resilient rental markets in the country. We're excited to bring our platform to Texas and continue growing our presence in the region."

Ovation at Galatyn Park stands out not just for its luxurious offerings but also for its exceptional accessibility. The community features modern interiors, premium amenities, and is conveniently located near major employment hubs, retail outlets, and transit lines. This strategically positioned community is undoubtedly a coveted living destination for current and prospective residents in Richardson.

The acquisition also signifies MG Properties' robust growth trajectory, increasing its total portfolio to over 32,000 units across multiple states. The acquisition was facilitated by an award-winning team at CBRE, with notable mentions including Daniel Baker, Johnathan Makus, Kevin O'Boyle, and Chandler Sims, representing the sellers, Legacy Partners and its institutional partner. Furthermore, the financing arrangements for the deal were managed by CBRE Capital Markets' experts Andrew Behrens, Jesse Weber, and Stephen Baird.

About MG Properties

MG Properties is a privately owned, fully integrated real estate company that specializes in investing, redeveloping, and managing multifamily assets. Founded in 1992 by Mark Gleiberman and headquartered in San Diego, California, the company's mission is to enrich communities. With a diverse portfolio exceeding 32,000 rental homes spanning states including California, Washington, Arizona, Nevada, Colorado, Texas, and Oregon, MG Properties continues to make a significant impact in the real estate market.

About Legacy Partners

Established in 1968 and based in the San Francisco Bay Area, Legacy Partners is a privately held real estate firm renowned for owning, developing, and managing multifamily communities across the United States. The company has developed or acquired more than 80,000 apartment homes valued at over $8.5 billion. Legacy Partners maintains regional offices across multiple states and collaborates with major financial institutions and real estate companies to deliver exceptional results.

As MG Properties steps into the Texas market, it not only reaffirms its business strategy but also sets the stage for innovative real estate solutions that cater to the growing demand for quality housing in dynamic urban areas. Industry observers eagerly anticipate more from this ambitious firm as they navigate new opportunities in one of America's most promising markets.