MG Properties, a San Diego-headquartered real estate investment firm specializing in multifamily properties, has expanded into the Texas market with the acquisition of Ovation at Galatyn Park, a luxury apartment community located in the Dallas suburb of Richardson, Texas.
The 361-unit community opened in March 2024 and encompasses one-, two-, and three-bedroom apartments with rents starting at roughly $1,500 per month. The complex’s amenities include a bike storage and repair station, a sky lounge, and a fitness center.
The financial aspects of the deal were not disclosed. The sellers, which included Legacy Partners along with an institutional partner, were represented by Daniel Baker, Johnathan Makus, Kevin O’Boyle and Chandler Sims of CBRE. Financing for the transaction was led by CBRE Capital Markets’ Andrew Behrens, Jesse Weber, and Stephen Baird.
“We are proud to enter the Texas market with such a high-caliber asset,” said Jeff Gleiberman, president of MG Properties. “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.”
0 Comments