MG Properties has completed the acquisition of Park 12 Apartments, a 35-story high-rise community in downtown San Diego with 43,000 square feet of retail. The seller was Greystar.
MG purchased the property for $309 million, making it the largest apartment acquisition in San Diego since 2020, and the third largest apartment acquisition in San Diego history. With this acquisition, MG has added 18 properties to its portfolio during the past 12 months, totaling more than $2.1 billion.
Built in 2018, Park 12 is located in the Ballpark Village masterplan adjacent to Petco Park, home of the San Diego Padres. The property features panoramic stadium, bay and city views of downtown San Diego along with on-site restaurants, brewery, and café. With a 97 out of 100 Walkscore, residents have access to The Gaslamp Quarter and the highest concentration of restaurants and retail in the city.
“As a San Diego-based company, we are very familiar with the dynamics of the city and
