MG Properties has purchased Citron Apartments, a recently completed community with 314 residential units. With this acquisition, MG has added 17 properties to their portfolio over the past 12 months, totaling more than $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 midrise 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.
