MG Properties acquires multifamily asset for $90m in Fremont, Calif.

MG Properties announced its recent acquisition of Artist Walk Apartments, located in Fremont, Calif., for $89.8 million

Cushman and Wakefield represented the seller, Clarion Partners. Financing for the transaction was provided by Freddie Mac and arranged by CBRE Capital Markets.

Artist Walk is a 185-unit, mixed-use community with 30,000 square feet of ground floor retail, completed in 2017. In the heart of Fremont, the dynamic mix of popular local retail tenants has created a vibrant mixed-use community, supporting a sense of community and providing onsite amenities for residents.

“We are thrilled to welcome Artist Walk Apartments to the MG Properties portfolio,” said Jeff Gleiberman, president at MG Properties. “We continue to believe in the long-term economic potential of the Bay Area and are pleased to add another high quality property to our portfolio there.”