CASTLE ROCK, CO – MG Properties, a private San Diego-based real estate investor, owner, and operator, is further expanding its presence in Colorado, announcing the acquisition of Ridge at Castle Rock Apartments. Formerly known as Springs at Castle Rock, MG Properties bought the property from Continental Properties for $67,150,000.
Offering one, two, and three bedroom apartments and lofts, Ridge at Castle Rock is a 2019 garden-style asset with contemporary finishes, attractive amenities, and functional floorplans.
The community is located in Castle Rock, an affluent and rapidly growing submarket between Denver and Colorado Springs. The Property is conveniently located within The Meadows Masterplan Community, offering residents access to a wide variety of retail and lifestyle activities and is approximately 10 miles south of Denver’s largest employment hub.
“This acquisition will allow us to further expand our operational presence in the Denver market,” said MG Properties President Jeff Gleiberman. “We believe this submarket is ideally positioned to benefit from the region’s continued growth.”
The seller, Continental Properties, was represented by David Potarf, Dan Woodward, Matt Barnett, and Jake Young of Walker & Dunlop. The property was financed with a mortgage provided by Fannie Mae and arranged by Bryan Frazier and Blake Hockenbury of Walker & Dunlop.

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POMONA, CA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the construction process is underway at Modera Pomona, a contemporary apartment community in Los Angeles County, which first broke ground in January.
The gated community, which will feature 210 apartment homes and a deluxe package of amenities, is situated on the southeast corner of N. Towne Avenue and E. Bonilla Avenue in Pomona. The strategic location approximately midway between Los Angeles and San Bernardino will position residents in a secluded neighborhood within 10 minutes of a key transportation hub.
“Modera Pomona will offer residents a small bit of everything, from a scenic-yet-commuter-friendly location to amenity spaces that will enable them to relax and recharge,” said Himanshu Brahmbhatt, vice president of development in Southern California for Mill Creek. “We believe the community’s modern, comfortable design will make a friendly atmosphere for a wide variety of residents, and we look forward to offering a best-in-class experience in the neighborhood.”
Three of LA’s primary thoroughfares intersect the area—Interstate 10, Route 57 and Route 71—providing connectivity to the greater metropolitan area. The nearby Pomona (North) Metrolink Station and Montclair TransCenter offer additional commuter options. Within the neighborhood, residents will have access to Montclair Place, a 1.2 million-square-foot regional mall anchored by Nordstrom, one of only two Nordstroms within the Inland Empire.
The area’s prominent employment market features Pomona’s thriving educational hub, which includes California State Polytechnic University, Pomona (Cal Poly Pomona) and Western University of Health Sciences. The prestigious Claremont Colleges, which combine for more than 10,000 students, are located within a 10-minute walk from the community.
Modera Pomona will offer studio, one- and two-bedroom homes with den layouts available. Community amenities will include a resort-inspired swimming pool, rooftop deck with fire pit and grilling areas, hot tub and spa, landscaped courtyards, resident clubhouse, game room, Ping-Pong table, Bocce ball court, conference room, coworking spaces and a club-quality fitness center with cardio equipment, TRX system and yoga/Pilates studio. Residents will also have access to Amazon package lockers, EV charging stations, controlled-access garage parking and several pet-friendly features, including a dedicated dog run, pet park and pet spa.
Apartment homes will include nine-foot ceilings, wood plank-style flooring, energy efficient stainless-steel appliances, quartz countertops, tile backsplashes, kitchen islands, 42-inch custom cabinetry, walk-in closets, in-home washers and dryers, built-in shelving and private patios or balconies. Bathrooms will include soaking tubs, backlit mirrors, double vanities and linen closets. The smart home package will include mobile app entry, programmable thermostats, controlled guest-access technology and bulk Wi-Fi. The community will also feature a variety of native and drought-tolerant vegetation throughout that help conserve water.
Modera Pomona marks Mill Creek’s first development within Pomona, although the company has developed and bought several assets in the greater Southern California market.

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VIENNA, VA – Middleburg Communities announced it has closed on a 13.48-acre land parcel at 9002 Brook Road in Glen Allen, Virginia. Middleburg plans to develop a 310-unit, class-A apartment and rental townhome community on the site ( The Brook ), marking one of only a select few market-rate developments to be built in the area in the last 20 years. Construction of The Brook is slated to start this month, with the community scheduled to open in late-2024.
We are pleased to have bought this strategic land parcel just 15 minutes from downtown Richmond, stated Selim Tay-Agbozo, President of Middleburg Development. Northern Richmond has been underserved for two decades now, and the pace of development has lagged the growth the area has experienced during this time. As such, there is a tremendous need for the type of product we plot to build. We look forward to leveraging our institutional-quality development platform to develop this project on time and to providing the residents in the area with a high quality, vibrant community to call home.
The Brook will be developed as a joint venture between Middleburg as development manager and The Resmark Companies ( Resmark ) as investment partner. The apartment part of The Brook will consist of five, 4-tale apartment buildings with elevator service totaling 274 units, and will offer a mix of one-, two-, and three-bedroom floorplans. The townhome part of the community will be made up of six, 6-unit buildings with two- and three-bedroom floorplans complete with private garages. What s more, one of the apartment buildings will have an integrated clubhouse that is open to all residents and a leasing center, while the property will be equipped with a number of premium amenities, such as high-end interiors with upscale finishes, an outdoor swimming pool, a fitness center and yoga studio, grilling stations, a dog park, a pet spa, electric vehicle charging stations and more.
Middleburg is our ideal partner for The Brook development given its extensive track record of generating value for its investment partners, commented Stephen O Neil, Senior Vice President of Investments at Resmark. The opportunity to be part of The Brook was very attractive for us because of the lack of inventory that currently exists in the coveted northern section of Richmond, which possesses many of the qualities that make it an ideal destination to raise a family – strong employment, educational and cultural opportunities. We look forward to delivering a community that matches the character of the area.
Situated along US Route 1 in Henrico County, the location of The Brook is a 20-minute rush hour drive from 60 percent of all jobs in the MSA. What s more, the site is proximate to several other major developments, including GreenCity, a proposed 204-acre, $2.3 billion mixed-use ecodistrict which is slated to break ground this year, and Virginia Center Commons, a 775,000 square foot mall that is currently being redeveloped to add a mix of residential and retail uses alongside an indoor sports and 4,500-seat convocation center. The Brook is the second multifamily community Middleburg plans to develop in the Richmond MSA. Earlier this year, the company announced it will break ground on Hamlet Watkins Centre, a 283-home build-to-rent community in Midlothian later this year.
I am very excited that one of the first development projects I will be overseeing since joining Middleburg is The Brook, said Robin Bettarel, Managing Director of Development for Middleburg s Mid-Atlantic Region. The type of residential community we are building is pretty much non-existent in the submarket, so we expect to see significant demand for The Brook given all that the property will have to offer.

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