Mark Gleiberman's MG Properties Acquires Multifamily Asset In Colton For $88M

The multifamily property located at 1316 S. Meadow Lane in Colton was recently sold for a total of $88,000,000. The transaction took place on 04/07/2021. The property consists of 352 units, with an average price per unit of $250,000. The seller in this deal was Tower 16 Capital Partners, represented by Mike Farley. On the other hand, the buyer was Mark Gleiberman from MG Properties. The brokerage team involved in the transaction included Tyler Martin, Alex Garcia, Chris Zorbas, and Chris Copenhaver from Institutional Property Advisors.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $88,000,000
• Units: 352
• Price Per Unit: $250,000
• Address: 1316 S. Meadow Lane, Colton
• Market: Colton

Mark Gleiberman from MG Properties was the buyer in this transaction, while Tower 16 Capital Partners, represented by Mike Farley, served as the seller. The deal was facilitated by a team of brokers including Tyler Martin, Alex Garcia, Chris Zorbas, and Chris Copenhaver from Institutional Property Advisors.