LAS VEGAS, NV – MG Properties, a private San Diego-based real estate investor, owner, and operator, is further expanding their presence in the Las Vegas metro with the acquisition of Tribeca North Apartment Homes. This is the first acquisition of 2023 for MG Properties after acquiring 18 properties in 2022 totaling nearly $2 billion.
This 312-unit community offers luxury low-density apartments with an attractive design, resort-style amenities, and functional floorplans with available garages. Tribeca North offers an ideal location providing access to employment centers including over 57 million square feet of industrial buildings in North Las Vegas, the recently approved 2.3 million square feet Helios mixed-use medical campus, and minutes to the Las Vegas Strip.
“We are pleased to be further growing our long-term presence in the Las Vegas metro,” said Jeff Gleiberman, President of MG Properties. “This community is situated in a highly desirable submarket which has experienced exponential population and job growth throughout the past decade.”
In addition to this new acquisition, MG Properties operates over 2,000 units in the greater Las Vegas area and is well-positioned to leverage management efficiencies and benefit from economies of scale.
The seller, The Bascom Group, was represented by Spencer Ballif, Adam Schmitt, and Jannie Mongkolsakulkit of CBRE. The property was financed by a Fannie Mae loan provided by Bryan Frazier and Blake Hockenbury of Walker & Dunlop.

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NASHVILLE, TN – Cantor Fitzgerald announced the sale of Rivertop Apartments in Nashville, Tennessee. The sale was facilitated on behalf of investors in Rivertop Apartments, resulting in a total return of 137% of their aggregate original investment and an internal rate of return of 12% over the approximately three-year hold period.
Completed in 2019, Rivertop Apartments is a 224-unit, Class-A apartment community featuring elegant interior finishes and an expansive amenity set, including a resort-style pool, 24-hour fitness center, and a pet spa. The property is approximately eight miles west of downtown Nashville, along the I-40 corridor, providing accessibility to major employment centers, universities, retail centers, and lifestyle amenities.
“Rivertop Apartments is uniquely located on an elevated site with scenic views of the Cumberland River within the vibrant Nashville market,” said Aaron Wessner, Managing Director, Head of Capital Markets, Cantor Fitzgerald Asset Management. “Over the past three years, we successfully executed the business plot to optimize operations for this high-quality property and are pleased to have delivered an attractive return for investors.”
As of December 31, 2022, Cantor Fitzgerald’s real estate investment portfolio comprises over 7,900 stabilized multifamily units plus over 2,500 units under development, and over 8.1 million square feet of office, industrial, life science, and retail space across 147 properties. For the 12-month period ending September 30, 2022, Cantor Fitzgerald participated in more than $155 billion of total real estate transactions.

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LOS ANGELES, CA – Ethos Real Estate, an affordable and mixed-income multifamily investment firm, announced the company has closed on the $76 million buy of the Residences at Woodlake, a 276-unit multifamily property in the Crenshaw District of Los Angeles.
Under the deal, Ethos will be converting the formerly market rate property into deed restricted affordable housing through a unique public private partnership that leverages a California statutory property tax exemption. Under the deed restriction, half of the units will be restricted to families earning up to 80% of the Average Median Income (AMI) for Los Angeles, and 10 percent will be restricted to families earning up to 60% of AMI, for 55 years.
We are excited to be scaling the potential for public private partnership around the production of affordable housing, said Jennifer McElyea, Ethos Real Estate Managing Partner. California has a critical shortage of public funds to address the housing crisis and innovative models will absolutely need to be part of the solution.
The property was the second buy for Ethos joint venture with GCM Grosvenor, investing on behalf of its clients. GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $73 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies.
We are proud to be partnering with Ethos in ways that creatively address the shortage of affordable housing in communities across California, said Peter Braffman, Managing Director at GCM Grosvenor.

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