MG Properties Acquires Citron Apartments in Anaheim for $144 Million

MG Properties, a real estate investment and management company, has completed the acquisition of Citron Apartments, a recently completed community in Anaheim with 314 residential units. With this acquisition, MG has added 17 properties to its portfolio over the past 12 months, totaling over $2.1 billion.

Built in 2023, Citron is located near two major California freeways, Disneyland, the Anaheim Convention Center and The Platinum Triangle, where the Los Angeles Angels and Anaheim Ducks host home games. The four-story mid-rise construction property features upscale amenities and modern finishes.

“Orange County has been a top-performing market through several downturns over the past 20 years. With low new supply and continued rental demand, we are very bullish on the market and the opportunity for growth,” said Jeff Gleiberman, president of MG Properties.

Financing for the transaction was provided by Freddie Mac and arranged by Kevin Mignogna, Charlie Haggard, Lee Scott, Joey Guarino and Michael Beach with Berkadia.

Headquartered in San Diego, MG Properties was founded in 1992 by Mark Gleiberman with the mission to enrich communities. MG’s current portfolio is comprised of over 32,000 rental homes in California, Washington, Arizona, Nevada, Colorado and Oregon across 113 communities.

Information sourced from PR Newswire. To learn more, contact mgproperties@mgproperties.com.