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4/27/22
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MG Properties has purchased The Herald Apartments, a 215-unit, Class A multifamily property in Placentia. The price was not given out.
Built in 2021, The Herald Apartments is located at 150 E. Crowther Ave. The strong demographics of the surrounding area make The Herald’s exceptional amenity package and high-quality finishes well suited to the market.
The seller, Lyon Living, was represented by Mark Peterson, Joseph Smolen, Geoff Boler and Jonathan Merhut of Eastdil Secured. The purchase was financed by Affiliates of Apollo Global Real Estate Management L.P., originated by Lee Redmond and Greg Stampley also of Eastdil Secured.
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