HILLSBORO, OR – MG Properties Group, a private real estate investor and operator based in San Diego, California, has acquired Zera in Reed & # 39; s Crossing in Hillsboro, Oregon, Portland's fastest growing suburb. The 324-unit garden complex completed this year is MG's tenth facility in the Portland market.
Only 509 Class A units have shipped in Hillsboro and Beaverton since 2015, making Zera a spectacular location near two of Portland's largest employers. Zera is ten minutes from Nike's world headquarters and Intel campus, and offers direct access to over 38,000 high-paying jobs. Zera is located on the Corridor of Highway 26 and provides accommodations for employees who work throughout the Silicon Forest.
"The continued diverse employment growth in the Portland area lays the foundation for a strong post-Covid economic recovery," said Mark Gleiberman, Founder and CEO of MG Properties. "Zera at Reed's Crossing is ideally positioned to serve residents of the expanding Westside market."
MG Properties Group purchased 13 parishes last year for a total of over 3,900 units and valued at $ 1.31 billion. The company is seeking additional acquisitions in Washington, Texas, Oregon, Arizona, California, Colorado and Nevada.
Mark Washington, Joseph Smolen and Mark Petersen from Eastdil Secured represented the seller, North America Sekisui House and Holland Partner Group. The community acquisition was funded by a loan from an Apollo Global Management subsidiary arranged by Lee Redmond and Greg Stampley of Eastdil Secured.
Source: MG property group