MG Properties, a San Diego-based private real estate investor, owner and operator, has acquired Tribeca North Apartment Homes in the northern Las Vegas metropolitan area.
This 312-unit community offers low-density apartments with amenities and functional floorplans with available garages. In addition to this new acquisition, MG Properties operates over 2,000 units in the greater Las Vegas area and looks to leverage management efficiencies from economies of scale.
“This community is situated in a highly desirable submarket which has experienced exponential population and job growth throughout the past decade,” comments Jeff Gleiberman, president of MG Properties.
The seller, the Bascom Group, was represented by CBRE. The property was financed by a Fannie Mae loan provided by Walker & Dunlop.