MG Properties is adding to its regional footprint, acquiring an apartment complex in downtown San Diego for $309 million. This, according to the real estate firm, marks the third-largest apartment purchase in the city's history.
Known as Park 12 Apartments, it features not only rental units but a mixed-use setting that includes 43,000 square feet of retail space.
The property, in the Ballpark Village masterplan, was first constructed in 2018 and features a panoramic stadium, restaurants, a brewery, and a cafe. Plus, it is near the San Diego Padres' stadium, Petco Park.
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