MG Properties Acquires Inland Empire Apartments From Sares Regis For $138 Million

MG Properties Group declared it acquired the Victoria Arbors Apartment Homes for $137.6 million from Sares Regis Group. The 319-unit estate is located in the city of Rancho Cucamonga, across from the Victoria Gardens mall.

With an expanding jobs market and a pandemic-driven flight from denser areas, Southern California’s Inland Empire has grown one of the top multifamily markets in the state. A growing number of investors want in as the region extends exponentially compared to the rest of the country.

The Inland Empire’s multifamily business has remain driven by the pandemic. Victoria Arbors marks MG Properties’ 10th property in the region, after the purchase of the District Apartment Homes in Colton, Calif., earlier this year. 

In total, MG Properties bought 15 communities over the past year, with more than 4,600 units and $1.39 billion in combined value.

Beginning this year, MG Properties Group acquired the 352-unit District at Grand Terrace in the city of Colton — also in San Bernardino County — from Tower 16 Capital Partners for $88 million. 

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