Beginning as an entrepreneurial venture with an investment in a single apartment building, San Diego-based MG Properties Group has grown over the last two decades to become a company with over 200 employees managing 7,000 apartment homes located within 40 communities in three western states.

MG Properties Group was founded in 1992 by entrepreneur Mark Gleiberman. During a period when real estate values were declining, he saw the opportunity to acquire underperforming or value-add apartment properties that he believed had the potential to be turned around through renovation and improved management.

MG Properties Group has been able to raise capital for steady growth through an investment structure under which each property was purchased by a newly formed limited partnership, with investors recruited from a network of high-net-worth individuals who invested anywhere from $25,000 up to $5 million. The company’s properties are owned by a pool of 160 investors, most of who have invested in multiple partnerships.

From 1992 to 2003, MG Properties Group acquired 32 apartment communities totaling more than 2,500 units in San Diego County. In most cases, these properties required major renovation and a complete turnaround in their financial and operational management to make them successful. In some cases, the dramatic improvements made to the company’s properties provided a catalyst to upgrade surrounding neighborhoods. MG Properties Group has won more than 50 awards from local communities and industry associations for its property renewal and management accomplishments.

As the value of apartment real estate in San Diego rose significantly during this period and suitable properties became more difficult to find, MG Properties Group began to look outside the county to find properties with good potential to continue the growth of the company. The company’s acquisition team found appropriately priced apartments north of San Diego located from San Bernardino to Mission Viejo. The company acquired six apartment communities in those markets totaling 1,764 units.

As real estate continued to appreciate rapidly in Southern California, MG Properties Group began forming new partnerships and making opportunistic purchases in Phoenix, Tucson, the San Francisco Bay Area, and Seattle. From 2004 to 2007, the company acquired 20 properties in these markets comprising 4,086 units. The company also re-entered the San Diego market in 2007, acquiring three properties containing 679 units.

Today, through a continuous process of acquisition, disposition and reinvestment, MG Properties Group has amassed a portfolio of strongly performing apartment investments with a total current market value of over $700 million generating annual rental income of $75 million per year.