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6/29/26
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San Diego-based MG Properties purchased two multifamily communities totaling 337 units in Gresham, OR in deals worth just over $60 mil. The acquisitions were of Mountain High Apartments for $18.8 mil and Parkside Apartments for $42 mil.
Parkside Apartments, Gresham, OR |
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The acquisitions further scale the company's presence in Portland, offering high-quality residential housing in one of the metropolitan area's fastest-growing submarkets. Regional employment includes industrial, distribution, advanced manufacturing, healthcare, and education. The communities sit a few minutes apart along the highway 26 corridor. Residents have easy walking access to the recently renovated, 32-acre Gradin Community Sports Park as well as to the variety of retail hubs located on East Powell Blvd.
"These acquisitions align with our long-term strategy of investing in well-located multifamily communities in markets with strong economic fundamentals and durable housing demand," said Jeff Gleiberman, President of MG Properties. "Gresham continues to see steady population and employment growth, attainable rents, and an excellent quality of life anchored by the Gradin Community Sports Park, Sandy River, and Mount Hood. We are excited to welcome the residents of Parkside Apartments and Mountain High Apartments to the MG Properties portfolio and to invest in these communities in the years to come."
Financing for the transaction was provided by Fannie Mae, and arranged by Bryan Frazier, Blake Hockenbury, Chris Botsford, and Jeff Burns of Walker Dunlop. The seller was represented by Tyler Johnson and Cody Hagerman of HFO Investment Real Estate.
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