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MG Properties Acquires Portland Property

MG Properties Group based in Sorrento Valley has acquired two Oregon apartment complexes that include on-site retail for an undisclosed price.

Formerly known as North Harbor Vista and Marine View in Portland, the two projects were combined and rebranded Maddox Apartments.

MG Properties bought the property from Prima Donna Development, represented by Mark Palmer, Michael McCleary, and Ryan Thompson at Palmer Capital Inc.

The acquisition of Maddox Apartments was financed with a loan from an affiliate of Apollo Global Management arranged by Bryan Frazier, Andrew Schoene, and Blake Hockenbury at Walker & Dunlop.

Located in the Bridgeton neighborhood of North Portland, the 210-unit community offers an ideal location within walking distance to the Expo Center Light Rail Station, connecting residents to the larger Portland metro and offering easy access to Vancouver, according to Mark Gleiberman, MG Properties Group’s founder and CEO.

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