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6/24/25
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MG Properties has acquired Citron Apartments, a recently completed 314-unit res community in Anaheim, for $144 mil, or $458.6k/unit. The property, located at 901 E. South St, south of the 91 Fwy and midway between I-5 and the 57 Fwy, was sold by Anton DevCo, the developer.
Citron is located near two major California freeways, Disneyland, The Anaheim Convention Center, and The Platinum Triangle, where the Los Angeles Angels and Anaheim Ducks host home games. The four-story mid-rise construction property features upscale amenities and modern finishes.
Completed in 2023, Citron features a contemporary design with a mix of one-, two- and three-bedroom units. With 32k sf of courtyard space, the property’s exterior amenities include a theatre lawn, pool and spa, and an indoor/outdoor fitness center.
“Orange County has been a top performing market through several downturns over the past 20 years. With low new supply and continued rental demand, we are very bullish on the market and the opportunity for growth.” Said Jeff Gleiberman, President of MG Properties. With this acquisition, MG has added 17 properties to their portfolio over the past 12 months, totaling over $2.1 bil.
Financing for the transaction was provided by Freddie Mac and arranged by Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino and Michael Beach with Berkadia.
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