ONTARIO, CA—GlobeSt.com exclusively learns that MG Properties Group, a private San Diego-based real estate investor and operator, and affiliates of Rockwood Capital LLC, have sold Terracina for $142 million. The multifamily property is located in Ontario, CA and the sale is said to be the largest ever of a single multifamily property in the Inland Empire.
MG Properties Group acquired the property in January 2013 in a joint venture with an affiliate of Rockwood Capital. The sellers were represented by Kevin Green and Greg Harris from the Harris Group at Institutional Property Advisors.
The 736-unit garden style apartment community was built in 1988 and features a resort-style pool, spa, lounge, and fitness center. The property is located in south Ontario, CA between the Ontario International Airport and the burgeoning Eastvale community with convenient access to the I-15 and Highway 60 freeways, providing residents with a range of nearby retail amenities as well as accessibility to major job corridors throughout the Inland Empire and eastern Los Angeles County.
According to Mark Gleiberman, MG Properties Group founder and CEO, “Terracina was a great investment for our partnership with Rockwood Capital. It is a well-located property that still offers excellent potential for the buyer.”
Greg Harris and Stewart Weston, IPA executive directors, Kevin Green, Alexander Garcia Jr., Joseph Grabiec and Christopher Zorbas, all IPA senior directors, David Sperling, IPA director, and John Montakab, IPA associate director, represented the seller, the JV partnership between MG Properties Group and Rockwood Capital.
ONTARIO, CA—GlobeSt.com exclusively learns that MG Properties Group, a private San Diego-based real estate investor and operator, and affiliates of Rockwood Capital LLC, have sold Terracina for $142 million. The multifamily property is located in Ontario, CA and the sale is said to be the largest ever of a single multifamily property in the Inland Empire.
MG Properties Group acquired the property in January 2013 in a joint venture with an affiliate of Rockwood Capital. The sellers were represented by Kevin Green and Greg Harris from the Harris Group at Institutional Property Advisors.
The 736-unit garden style apartment community was built in 1988 and features a resort-style pool, spa, lounge, and fitness center. The property is located in south Ontario, CA between the Ontario International Airport and the burgeoning Eastvale community with convenient access to the I-15 and Highway 60 freeways, providing residents with a range of nearby retail amenities as well as accessibility to major job corridors throughout the Inland Empire and eastern Los Angeles County.
According to Mark Gleiberman, MG Properties Group founder and CEO, “Terracina was a great investment for our partnership with Rockwood Capital. It is a well-located property that still offers excellent potential for the buyer.”
Greg Harris and Stewart Weston, IPA executive directors, Kevin Green, Alexander Garcia Jr., Joseph Grabiec and Christopher Zorbas, all IPA senior directors, David Sperling, IPA director, and John Montakab, IPA associate director, represented the seller, the JV partnership between MG Properties Group and Rockwood Capital.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
