MG Properties Group Acquires Meridian Place Apartments In Northridge For $70.2M

The multifamily property involved in the transaction is Meridian Place Apartment Homes located at 9423 Reseda BLVD, Northridge, CA. The property consists of 202 units and was sold for $70,200,000.00 in the Northridge market.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $70,200,000.00
• Seller's Representative: Sean Deasy (JLL)
• Buyer: MG Properties Group

The deal's key individuals and companies include Greg Harris, Kevin Green, and Joseph Grabiec of Institutional Property Advisors (IPA) from Marcus & Millichap, representing the seller. Additionally, Brian Eisendrath, Brandon Smith, and Cameron Chalfant of CBRE arranged the acquisition financing for the transaction.