SAN DIEGO, CA – MG Properties Group, a private San Diego-based real estate investor and operator, is further expanding its presence in the Bay Area, announcing the acquisition of Maris at Martinez, formerly known as Terra Martinez.
Located in the East Bay hills, this 168-unit community offers an ideal location off State Route 4, connecting it to endless shopping, dining, and recreation options. The increasingly strengthened hybrid work environment allows Martinez to flourish as a viable option for Bay Area commuters.
“We are pleased to be further growing our long-term presence in the Bay Area,” said Mark Gleiberman, MG Properties Group’s Founder & CEO. “This is a market that has strong opportunity due to its economic growth, affordability, and convenience.”
This class “B” property was constructed in 1985 and has continued to be an increasingly well loved destination for Bay Area residents to call home.
The sellers were represented by Salvatore Saglimbeni, Stanford Jones, Philip Saglimbeni, and Alexander Tartaglia from Institutional Property Advisors. Mortgage financing for the acquisition was provided by institutional investors advised by JP Morgan Asset Management and arranged by Bryan Frazier, Andrew Schoene and Blake Hockenbury at Walker & Dunlop.
Rebranded as Maris at Martinez, this community is the 19th acquisition in the last year for the company overall – totaling over $1.6 billion in combined value. MG Properties is continuing to target further acquisitions in Washington, Oregon, California, Arizona, Nevada, Utah, Colorado, and Texas. 

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SPRINGDALE, AR – Funding has been secured to buy and start the renovation of The Life at Elwood Grove (formerly known as Springdale Ridge Apartments,) a 192-unit affordable multifamily apartment community in Springdale, Arkansas. The 16-building garden style project is being rehabilitated by Olive Tree Holdings. Life at Elwood Grove is Olive Tree’s 40th multifamily acquisition. This is Olive Tree’s fourth partnership with American South Real Estate Fund (ASREF) I and II, managed American South Fund Management (ASFM), a partnership between SDS Capital Group and Vintage Realty Company. All 192 units will be rented at rates affordable to low-income families.
“Olive Tree’s mission has centered on finding and improving existing assets or new projects that can provide quality housing to workforce households and families across the country. With The Life at Elmwood Grove development, we now manage over 8,000 units of affordable housing nationally, meeting a critical need within underserved communities,” said Ian Bel, Principal, Olive Tree.
The development is located near major employers that include the University of Arkansas, Tyson Foods and Walmart’s global headquarters. The Fayetteville MSA has experienced 2% annual growth for the past decade. Median home values have increased by approximately 20%, with median household income rising by just 2.3%. Income levels within a 5-mile radius of the apartment complex are below 80% of area median income (AMI), with The Life at Elmwood Grove units being affordable to families at this income level.
“The ongoing partnership between ASREF and Olive Tree continues to provide tremendous benefit to low-income residents across the South. The Life at Elmwood Grove adds 192 affordable-housing units — an increase to a total of 1,050 units – that ASREF and Olive Tree have developed in partnership,” said Deborah La Franchi, ASREF Managing Partner.
ASREF II targets their impact investments into distressed communities of color within a 10-state footprint across the South. ASREF financing will support significant renovations at The Life at Elmwood Grove development that will improve the quality of their units and complex surroundings without sacrificing affordability. Olive Tree Holdings currently has more than 2,000 multifamily units under consideration for future development.

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SAN ANTONIO, TX – San Francisco-based real estate investment firm Hamilton Zanze announced the sale of Salado Springs Apartments in the desirable Airport Area submarket of San Antonio, Texas. The firm bought the property in 2015 and the sale closed on November 18, 2021.
During their ownership, Hamilton Zanze completed numerous exterior improvements and landscaping improvements, and renovated units with new flooring, appliances, hardware, and paint to improve leasing efforts and increase rental rates.
“San Antonio is the second largest city not only in Texas but the Southern U.S. It has seen strong growth with a growing preference for apartment living,” said Anthony Ly, director of dispositions at Hamilton Zanze. “The sale of Salado Springs is a result of successful capital improvement programs and strong management of the property.”
Salado Springs was built in 1997 and is located at 12727 Vista Del Norte in San Antonio. The property comprises 352 one-, two-, and three-bedroom units averaging 856 square feet. The community is pet-friendly and has a resort-style pool and spa, 24-hour fitness center, movie theater, picnic area with barbecues, covered parking, and a dog park.
Salado Springs is in the Airport Area submarket of the San Antonio metro area. The community is near Interstate 410, Interstate 10, and the San AntonioInternational Airport, which provides nonstop flights to domestic and international destinations. The property is less than a 25-minute drive from The San Antonio River Walk, one of San Antonio’s top tourist attraction. The area around Salado Springs is home to a cluster of San Antonio’s most well-established and upscale communities. San Antonio benefits from stable employment growth from the healthcare industry, military, and aerospace manufacturing.

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