SAN DIEGO, CA – MG Properties Group, a privately held real estate investor and operator headquartered in San Diego, California announced the acquisition of Victoria Arbors Apartment Homes for $137.6 million from Sares Regis Group. This 319-unit, suburban, garden-style property is in the Inland Empire’s highly desirable city of Rancho Cucamonga.
With its coveted location across from the Victoria Gardens Mall, Victoria Arbors provides ease of access to nearby retail and outdoor leisure activities. With a Walk Score of 84 and its close proximity to the I-15, Victoria Arbors is the ideal home base for employees drawn to the Inland Empire’s booming employment centers, including nearby healthcare and distribution center employers like QVC and Amazon.
Mark Gleiberman, Founder & CEO of MG Properties said, “Victoria Arbors is ideally positioned to benefit from post-pandemic trends, as a walkable suburban community with growing nearby economic opportunity. The Inland Empire continues to be a top-performing market and we are excited to add this asset to our portfolio.”
Further expanding its Southern California portfolio, Victoria Arbors will mark MG Properties Group’s tenth property in the Inland Empire/Temecula Valley, including the acquisition of The District Apartment Homes earlier in 2021. MG Properties Group has bought 15 communities in the past year totaling over 4,600 units and $1.39 billion in combined value. The company is targeting further acquisitions in California, Washington, Oregon, Arizona, Nevada, Utah, Colorado and Texas
The seller, Sares Regis Multifamily Funds, was represented by Berkadia’s Tom Moran, Jr., Derrek Ostrzyzek, Rachel Parsons, and Mike Murphy as part of the organization’s newly formed Institutional Solutions powered by Moran. The property was financed with a $75 million mortgage provided by Nuveen Real Estate and arranged by Charles Christensen of Berkadia.

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FORT WORTH, TX – Preferred Apartment Communities completed the acquisition of Alleia at Presidio, a 231-Unit Class A multifamily community in Fort Worth, Texas.
Jeff Sherman, the Company s President of Multifamily said, Alleia marks our re-entry into the Dallas-Fort Worth metroplex, which continues to lead the nation in total population growth. Mr. Sherman added, This property checks so many boxes for us; it is surrounded by affluent demographics, is located in a top-rated school district, is less than 5 miles from two hospital systems and is walkable to Presidio Towne Crossing, a destination retail center including a Costco, Target and numerous restaurants and services.
John A. Isakson, Chief Financial Officer commented, Alleia represents another accretive acquisition for our multifamily portfolio from a high-quality developer we have done multiple transactions with previously. We are excited to continue to grow our multifamily portfolio and the Dallas/Ft. Worth market is one of our strategic focuses as it continues to be an attractive market with brilliant demographic, economic and rent growth trends. The ongoing growth in our multifamily portfolio further extends the strategic rotation of capital we have been focusing on for the last 12 months.

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IRVINE, CA – The Bascom Group has closed a 390-unit, three-property portfolio in Las Vegas. The portfolio, consisting of Spectra at 4000, Spectra East, and Spectrum at Katie. Total cost for the portfolio was $72,000,000 or $184,806 per unit. Curt Allsop and Angela Bates with Newmark oversaw the sale. Debt financing was provided by Bridge Investment Group and arranged by Charles Halladay, Jamie Kline, and Annie Rice with JLL Capital Markets. Cushman Wakefield was tapped for property management services and construction management will be provided by Renu Multifamily Services.
Bascom’s Senior Principal of Acquisitions, Scott McClave, stated, “The Spectra Portfolio further bolsters Bascom’s footprint in the Las Vegas market and we are excited about the Metro’s continued robust growth. The city continued to see robust population growth throughout the pandemic as the metro had evolved into a lifestyle destination; and we see its low tax, high entertainment, business friendly environment continuing to thrive in the decade ahead.”
Spectra at 4000 and Spectra East are located in eastern Las Vegas Valley, which is experiencing a renaissance driven by the diversifying regional economy. The properties’ proximity to revitalized Downtown Las Vegas allows simple access to retail, entertainment, dining, and major employment centers. Spectrum at Katie is located near UNLVand the renowned Las Vegas Strip. The attractive basis and discount to sales comparables, coupled with favorable financing and value-add opportunity made the acquisition particularly desirable for Bascom and its investors.
Bascom’s Senior Principal of Operations, Paul Diamond, added, “The Las Vegas market has continued to see significant improvement as rents and occupancies strengthen. We feel the portfolio is well positioned to provide the mid-market resident with a freshly upgraded living environment at a reasonable price point.”
Bascom has been one of the most active apartment buyers in Las Vegas since its first acquisition in 2013. Following the 15-property portfolio acquisition from Camden Property Trust in 2016, Bascom became the largest apartment owner in the metro with 29 total properties representing 8,915 units and $1.2B in total capitalization. As of today, Bascom has sold 19 properties representing 5,798 units and over $1.0B in total sales price. Over the past year, Bascom has completed over $705.9M in multifamily transactions across its national portfolio.

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