MG Properties, a real estate investor, has purchased Eleanor Apartments, a 333-unit community.
Eleanor is a mixed-use community in the Bay Area with 10,000 sf of ground floor retail.
“We are pleased to be further growing our long-term presence in the Bay Area, a market that has strong potential for recovery after the impacts of the Covid crisis,” said Jeff Gleiberman, MG Properties’ president.
The sellers SummerHill Apartment Communities, The Resmark Companies and Kennedy Wilson were represented by Philip Saglimbeni, Stanford Jones, Salvatore Saglimbeni, and Alexander Tartaglia from Institutional Property Advisors. Financing was provided by Fannie Mae and arranged by Brian Eisendrath and Cameron Chalfant of Institutional Property Advisors.