MG Properties announced the acquisition of Ridge at Castle Rock Apartments in Colorado. Formerly known as Springs at Castle Rock, MG Properties purchased the property from Continental Properties for $67.15 million.
Offering one, two and three bedroom apartments and lofts, Ridge at Castle Rock is a 2019 garden-style asset with contemporary finishes, attractive amenities and functional floorplans.
The community is in Castle Rock, Colo., an affluent and rapidly growing submarket between Denver and Colorado Springs. The Property is located within The Meadows Masterplan Community, offering residents access to a variety of retail and lifestyle activities and is about 10 miles south of Denver’s largest employment hub.
“This acquisition will allow us to further expand our operational presence in the Denver market,” said Jeff Gleiberman, president at MG Properties. “We believe this submarket is ideally positioned to benefit from the region’s continued growth.
