MG Properties Group based in Sorrento Valley has acquired a Vancouver, WA apartment complex for an undisclosed price.
Hearth Apartment Homes, 16516 SE Mill Plain Blvd., was sold by Fore Property, represented by Josh McDonald of CBRE. Financing was arranged by Brian Eisendrath and Cameron Chalfant of CBRE.
Built in 2019, the complex has 179 apartments.
“We have been very active purchasers in the Portland region and believe strongly in its potential for economic growth. Hearth is an excellent addition to our Portland portfolio, and will allow us to further leverage our platform in the region,” said Mark Gleiberman, MG Properties Group’s CEO.
MG Properties Group has purchased eight apartment complexes in the past 12 months with a combined value of more than $670 million, according to the firm.