SAN DIEGO, CA – Properties, a San Diego-based multifamily real estate investment firm, announced the acquisition of Dylan Point Loma Apartments, a multifamily community located in the highly sought-after Point Loma neighborhood of San Diego.
Dylan Point Loma is situated in one of San Diego’s most desirable coastal submarkets, offering residents convenient access to major employment centers, beaches, dining, and entertainment. The community features oversized floorplans averaging 1,134 square feet and garages for each unit. The acquisition aligns with MG Properties’ long-term strategy of investing in high-quality apartment communities in strong West Coast markets.
“This acquisition represents a compelling opportunity to expand our footprint in San Diego, a submarket where our business first started,” said Jeff Gleiberman, President of MG Properties. “Dylan Point Loma is well positioned to benefit from the area’s strong fundamentals, and we look forward to enhancing the community while continuing to deliver an exceptional living experience for residents.”
MG Properties plans to implement targeted capital improvements and operational enhancements designed to further elevate the property while preserving its neighborhood character.
The transaction underscores MG Properties’ continued expertise in the San Diego multifamily market and its commitment to long-term ownership of well-located communities.
MG Properties is a privately owned, fully integrated real estate company specializing in the investment, redevelopment, and management of multi-family assets. MG’s current portfolio is comprised of over 32,000 rental homes in California, Washington, Arizona, Nevada, Colorado, Texas, and Oregon, across 115 communities.

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LOS ANGELES, CA – Bascom Northwest Ventures announced the sale of Tempo at Riverpark Apartments. The 235-unit property was sold by a Bascom affiliated venture for $105,000,000 to a venture led by Hines. Tempo at Riverpark is located less than a mile from the Pacific Ocean in Oxnard, California and just outside Los Angeles.
Bascom Value Added Apartment Investors Fund IV (“Fund IV”), an affiliate of The Bascom Group, LLC, and a private investment group led by Bascom Northwest bought property for $75,250,000 in 2018. Brian Wirtz, Managing Director of Bascom Northwest, helped throughout the investment execution process.
Oxnard is less than an hour’s drive from Downtown Los Angeles and only minutes’ drive to the Pacific Ocean. Located between Thousand Oaks and Ventura, Oxnard has established itself as a premier upscale coastal beach town in Ventura County. With its pristine beaches, unbeatable weather, charming Channel Islands Harbor, and captivating Victorian-era architecture, Oxnard offers a diverse range of breathtaking sights that span from the ocean to the mountains.
Tempo at Riverpark is a 235-unit apartment community located in Oxnard, California. This class “A” suburban multifamily community spans approximately 6.14 acres, offers spacious floor plans averaging 955 square feet, and is accompanied by luxurious interior finishes such as in-unit laundry, stainless steel appliances, custom sliding barn doors, large bedrooms with spacious open floor plans, balconies or patios, and much more. Amenities include an outdoor pool and spa, poolside cabanas, outdoor BBQ area, and fireplace, 24/7 fitness center, yoga/spinning room, and attached garages.
The rental community is located adjacent to The Collection at RiverPark, with a California Coastal blend of retail stores, restaurants, cafes, grocery, and outdoor spaces anchored by Whole Foods Market, REI, 16-screen Cinemark movie theater, Bowlero and over 30 food and beverage options. Tempo at Riverpark was developed and constructed by the Wolff Company in 2015. It consists of 105 one-bedroom one bath units at 804 square feet, 118 two-bedroom two bath units at 1,036-1,065 square feet, and 12 three-bedroom two bath units at 1,270 square feet.
This combination of Oxnard’s intrinsics and property upgrades totaling $1 million set the stage for a successful investment execution by Bascom Northwest. Apartment Management Consultants (“AMC”) managed the community for Bascom over the holding period. Both parties were represented in the sale by Blake Rogers, Alex Caniglia, and Kip Malo at JLL.

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NEW ORLEANS, LA – Lincoln Avenue Communities (LAC), a mission-driven acquirer and developer of affordable housing, broke ground on NSA East Bank Apartments, a landmark adaptive-reuse development that will transform a decommissioned naval base into 294 affordable housing units and 30,000 square feet of ground-floor retail in New Orleans’ Bywater neighborhood.
NSA East Bank Apartments will serve as the residential anchor of a landmark rehabilitation of the Naval Support Activity (NSA) complex, which has sat vacant since 2011. The multiphase development will include the NewLab innovation hub—a cutting-edge facility dedicated to advancing energy industry breakthroughs and tech startup growth—and future phases including the Railyard Marketplace and a riverfront estuary park.
“This project will be transformative for the Bywater community and will bring new life to these historically significant buildings,” said David Garcia, LAC Vice President and Project Partner. “LAC is proud to play a role in preserving the architectural heritage of New Orleans while making sorely needed affordable housing for local families.”
NSA East Bank Apartments will feature 1-, 2-, and 3-bedroom units serving families earning between 20% and 60% of Area Median Income (AMI), including 74 Project-Based Voucher (PBV) units. Resident amenities include a rooftop pool and clubhouse, first-floor community space, outdoor play structures, dog park, pet wash station and bike storage. The development will achieve Enterprise Green Communities Certification (LEED equivalent) and feature a rooftop solar array that will offset a part of common-area electricity, reducing both environmental impact and operating costs.
NSA East Bank Apartments builds on LAC’s successful track record of historic rehabilitation projects in New Orleans, following the recent completion of the $35 million rehabilitation of the century-ancient Tivoli Place Apartments. The Tivoli Place project, LAC’s first rehabilitation in Louisiana, demonstrated the developer’s commitment to protecting the city’s historic past while delivering high-quality affordable housing.
NSA East Bank Apartments was designated a priority project by the U.S. Department of Housing and Urban Development (HUD). The project received overwhelming support from the City of New Orleans and the State of Louisiana, whose commitment was essential to making this complex undertaking possible.
The landmark NSA complex dates to June 1919, when the U.S. Army Quartermaster Corps constructed a 1.5 million-square-foot logistics center on the East Bank of the Mississippi River. The complex comprises three six-tale buildings, each covering over 84,000 square feet, and is listed on the National Register of Historic Places for its crucial role in supporting military logistics during both World Wars.
LAC was joined at the groundbreaking ceremony by local leaders and elected officials, as well as development partners and representatives from J.P. Morgan, Capital One, Boston Financial, Stonehenge Capital, Customers Bank and Raymond James, each of which helped finance the new development.
“Through historic tax credit equity, bridge financing and strong public-private collaboration, we’re proud to support the revitalization of NSA East Bank — preserving New Orleans’ heritage and building a brighter future for its residents,” said Tim Karp, Managing Director, J.P. Morgan Community Development Banking. “By transforming a long-dormant historic site into a thriving district, NSA East Bank is making affordable housing and lasting opportunities for the people of New Orleans.”
“Housing is the cornerstone of economic opportunity, and Capital One is proud of our track record as a top community development lender, ” said Dan Miller, Community Finance Capital Officer at Capital One. “We are proud of our partnership with Lincoln Avenue Communities and their commitment to empowering people throughout the region. The groundbreaking of NSA East Bank is a testament to how local leaders, public, and private partners can come together to deliver not just housing, but lasting opportunities for families and communities to thrive.”
The project, which fosters continuity and sense of place within the Marigny and Bywater districts, is part of a broader vision to make a mixed-use campus that will serve as an innovative economic catalyst for both the city and the region. Construction will start immediately, with substantial completion anticipated in September 2027.

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