Mark Gleiberman, MGPG's President, describes the acquisitions as "a continuation of a very successful 2012 raising private capital for apartment investment throughout the West Coast. We are very pleased that we exceeded our goal of $200 million in new investments by closing on $240 million of acquisitions during the year, all funded with private equity sources including 1031 exchange capital, joint ventures with ultra-high net worth families and traditional syndications. Adding over 2,300 units to our portfolio through acquisitions will allow us to expand the capabilities of our integrated management teams to position us for future growth."

Rich Gelbart, MGPG's Vice President of Investor Relations, notes, "Our private capital investor pool is ready for an active 2013 that meets or exceeds 2012. Value-add properties that are core to the history of MGPG and the current yield on secondary-market driven investments are reasons why our partners look to invest with us."

MG Properties Group (www.mgproperties.com) is a privately owned West Coast real estate owner and operator specializing in multi-housing assets. Over the last 20 years MGPG has acquired 81 communities totaling over 13,700 units, representing more than $1.4 billion in total asset value. The company's current ownership portfolio includes 50 properties totaling over 9,100 units in California, Washington, Arizona and Nevada. The firm also third-pay manages over 700 units for select clients. MGPG employs 300 professionals with in-house expertise in acquisitions and underwriting as well as asset, property, construction and investment management.