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June 25, 2024
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MG Properties Pays $90 Mil for Bay Area Res Community


MG Properties acquired Artist Walk Apartments, a 185-unit res community in Fremont, for $89.75 mil. The development, constructed in 2017, includes 30k sf of ground-floor retail.

Artist Walk Apartments is located at 3888 Artist Walk Common, in the heart of Fremont. The area’s dynamic mix of popular local retail tenants has created a vibrant mixed-use community, supporting a sense of community and providing onsite amenities for residents.

Unit amenities at the community include balcony/patio, central air/heating, stainless steel appliances and a washer/dryer. The complex also features bike storage, EV charging, pet washing station, resident lounge with WiFi access and a resort-style pool.

The seller, Clarion Partners, was represented by Jason Parr, Seth Siegel, and Scott MacDonald of Cushman and Wakefield. Financing for the transaction was provided by Freddie Mac and arranged by CBRE Capital Markets’ Andrew Behrens, Jesse Weber, and Stephen Baird.

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