MG Properties Group based in Sorrento Valley has acquired a Tacoma apartment complex for $85.5 million.
Village on Main Apartments has 200 apartments.
The seller was Point Ruston Building 7 LLC – a company owned by developer Loren McBride Cohen.
Point Ruston Building 7 was represented by Chris Ross, David Young, Corey Marx, Jordan Louie, and Michael Lyford of JLL
Financing was led by JLL Capital Markets’ Charles Halladay, Rick Salinas, and Jake Wisness.
“We’re thrilled to be expanding our reach in the Pacific Northwest with Village on Main,” said Mark Gleiberman, founder and CEO of MG Properties Group. “Tacoma has tremendous potential, and we believe Village on Main provides an opportunity to participate in its continued growth.”