MG Properties Acquires Denver Apartment Community for $76 Million

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MG Properties, a San Diego-headquartered real estate investment and management company, has completed the $76 million acquisition of Bear Valley Park Apartments, a garden-style community located in Denver.

The closing marks MG Properties’ third multifamily acquisition of 2023 in the Denver area. Bear Valley Park Apartments was constructed in 2003 and encompasses 260 one- and two-bedroom apartments.

“This investment reflects our confidence in Denver’s economic growth potential and allows us to further leverage the efficiency of our regional operations there,” said Jeff Gleiberman, president of MG Properties. “As a stabilized property in a high-quality submarket, Bear Valley Park is an excellent fit for our long-term investment strategy.”