|
|
11/20/20
|
MG Properties Group and Rockwood Capital have acquired Las Positas Apartment Homes, a 213-unit multifamily community in Camarillo, for $95.75 mil, or about $450k/unit. The property, located at 352 Townsite Promenade, was sold by Fore Property.
Built in 2019, Las Positas is a low-density property with resort-style common area amenities. Residents benefit from easy access to Hwy 101, connecting Camarillo to job centers throughout Los Angeles.
Only two other apartment communities over 100 units have sold in the city since 2014, and few other institutionally sized apartment communities exist in the submarket, according to Mark Gleiberman, MG Properties Group’s CEO. There are currently no new communities under construction or planned.
Financing was provided by Fannie Mae and arranged by Brian Eisendrath, Cameron Chalfant and Jesse Weber of CBRE. MG Properties Group has purchased eight communities in the past 12 months. These acquisitions totaled over 2,200 units and $700 mil in combined value.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
