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| Mark Gleiberman |
Ontario, CA – MG
Properties Group, a private San Diego-based real estate investor and operator,
and affiliates of Rockwood Capital, LLC, have announced the $142 million dollar
sale of Terracina, a multifamily
property located in Ontario, CA. The sale is the largest ever of a single
multifamily property in the Inland Empire.
The 736-unit garden style
apartment community was built in 1988 and features a resort-style pool, spa,
lounge, and fitness center.
The property
is located in south Ontario, CA between the Ontario International Airport and
the burgeoning Eastvale community with convenient access to the I-15 and
Highway 60 freeways, providing residents with a range of nearby retail
amenities as well as accessibility to major job corridors throughout the Inland
Empire and eastern Los Angeles County.
MG Properties Group acquired
the property in January 2013 in a joint venture with an affiliate of Rockwood
Capital. The sellers were represented by
Kevin Green and Greg Harris from The Harris Group at Institutional Property
Advisors.
According to Mark Gleiberman, MG Properties Group
Founder and Chief Executive Officer, “Terracina was a great investment for our
partnership with Rockwood Capital. It is a well-located property that still
offers excellent potential for the buyer.”
For a complete copy of the company’s news release,
please contact:
Katie Kea or Lexi Astfalk
(949) 955-7940
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