MG Properties Group enters Denver market

MG Properties Group has acquired Neon Local Apartments in Denver's South Broadway neighborhood for $108.2 million. The sellers are North America Sekisui House and Holland Partner Group.

Built in 2020, the 238-unit community is one of the few multifamily additions along the South Broadway corridor. Located in the area's sought-after entertainment district, Neon Local's proximity to mass transit and commuter freeways make it an arterial thoroughfare with premier access to the larger Denver metro. Its onsite retail options and an irreplaceable core location make Neon an ideal entry into the Colorado market.

Neon Local is the first property purchased by MG Properties Group in Colorado and marks the 18th acquisition in the past year for the company overall, representing a total of more than $1.5 billion in combined value.