CAMARILLO, CA – MG Properties Group, a privately held real estate investor and operator headquartered in San Diego, California, announced their acquisition of Andorra Apartments in Camarillo, California. The 450-unit community brings 2021 to a close with over $1.9 billion in total acquisitions.
“We are thrilled to be further scaling our Southern California portfolio,” said Mark Gleiberman, Founder & CEO of MG Properties Group. “Andorra is an ideal fit for our long-term oriented private capital investor base.
With proximity to both Los Angeles and Santa Barbara, Camarillo is a uniquely situated arterial hub combining a high-quality suburban living environment with access to multiple job centers. Its well-executed design offers a perfect blend of rustic California style with modern refinement.
The buyer was represented by Joseph Smolen, Mark Peterson and Geoff Boler of Eastdil Secured. The acquisition of the community was financed with a loan from Nuveen Real Estate and arranged by Lee Redmond and Greg Stampley of Eastdil Secured.
Andorra marks the 19th acquisition in what has been a benchmark year for the company – totaling over $1.9 billion in combined value. MG Properties is continuing to target further acquisitions in Washington, Oregon, California, Arizona, Nevada, Utah, and Colorado.

Powered by WPeMatico

CHARLESTON, SC – Greystar Real Estate Partners, a global leader in the investment, development, and management of high-quality rental housing, has bought a portfolio for approximately $2 billion from The Finger Companies, a leading independent multifamily development and management company.
This strategic investment includes properties largely located in Houston, but also in Atlanta and Dallas, and it further expands Greystar’s presence in the Sunbelt. The assets consist of garden-style, mid-rise and high-rise construction in growing metro areas.
“Any growth opportunities for Greystar must clear a high bar and fit our long-term strategic objectives, and acquiring this portfolio from The Finger Companies is squarely in line with these goals,” said Bob Faith, Founder, Chairman, and CEO of Greystar. “The properties in this portfolio are extremely well-built and well-located, giving both our current and prospective residents even more choices with Greystar.”
In the Houston market, Greystar already boasts unparalleled expertise, managing over 54,000+ units in the metro across virtually all major submarkets. This is Greystar’s highest number of units under management across any single US metro area.
“This is an outstanding addition for Greystar as we continue to see compelling investment opportunities across the Sunbelt,” said Kevin Kaberna, leader of Greystar’s North American investment management platform. “The Sunbelt continues to outperform, with gains in high-earning employees across diversified sectors fueling household formation across the Houston, Dallas, and Atlanta metros.”
As part of the transaction, over 300 on-site employees at the assets bought will become Greystar team members.
“We are also welcoming new team members from The Finger Companies, and it is clear they share our operating philosophy and people-centric approach to property management,” said Faith. “Cultural compatibility is vital for us for any acquisition and given how much these team members are a part of the fabric of the communities at which they work, we are thrilled they will be a part of the Greystar team.”
The properties in this transaction will become a part of Greystar’s Owned Asset Portfolio.

Powered by WPeMatico

JACKSONVILLE, FL – Fairstead, a purpose-driven, vertically integrated real estate company committed to sustainable development and the creation and preservation of high-quality housing, announced it has bought the Sable Palms Apartments in Jacksonville, Florida. The acquisition will preserve and extend the affordability of the 200 units and enable investments in improvements to the apartments, buildings, and outdoor space.
“Preserving our affordable housing stock is a critical strategy to supporting our neighborhoods and ensuring that families can stay in the communities they like,” said Jordan Capellino, Director, Development at Fairstead. “Fairstead’s acquisition of Sable Palms Apartments will extend the affordability of 200 homes and bring improvements to enhance the lives of residents.”
The Sable Palms Apartments features 200 one- to four-bedroom units across 29 residential buildings. The campus includes one community building, where the management office is located, as well as two playgrounds, laundry facilities, and parking. Fairstead will preserve and extend the affordability of these units and provide upgrades to the buildings including improved kitchens, bathrooms, appliances, and common areas.
Fairstead recently announced a new $500 million equity commitment to strategically grow the company’s operations, including expanding its multi-family housing portfolio and enhancing the firm’s prop tech, sustainability, and community impact programming. Fairstead works with community leaders, advocates, and residents to provide programming and services that improve resident health outcomes, provide financial literacy, offer job training, bolster internet access, and provide opportunities for civic engagement.
This buy is part of Fairstead’s ongoing commitment to making and preserving affordable housing across the nation. This week, Fairstead announced the largest affordable housing deal of the year in New York City with the acquisition of 48 buildings in the Bronx. Last week, Fairstead announced the acquisition of Gateway, 160 apartments in Lake Jackson, Texas, where it will preserve and expand its affordability. In Virginia, the Alexandria Redevelopment and Housing Authority (ARHA) recently announced that it had selected Fairstead in partnership with Mill Creek Residential and The Communities Group to redevelop the Samuel Madden Homes in Ancient Town Alexandria, nearby the new Amazon HQ2, where the company will make a sustainable mixed-use community with affordable, workforce, and market-rate housing.

Powered by WPeMatico