MG Properties’ history traces back to a single investment in a 38 unit apartment property in Vista, California in 1992. Over the subsequent three decades, MG has acquired over 190 communities across the western United States. Our current portfolio consists of over 27,000 units in California, Washington, Arizona, Nevada, Colorado, and Oregon which are overseen by our over 800 employees.
Mark Gleiberman, MG Properties’ Founder and CEO, saw an opportunity in the distressed real estate market of the early 1990s. At the time, banks and government entities were liquidating properties and buyers were scarce; particularly for underperforming properties requiring physical renovation and improved management. He worked with a small, entrepreneurial team to begin acquiring these properties and renovating them; improving residents’ experiences and providing investors with steadily growing income streams. These early acquisitions fostered an in-house expertise in property management and construction, and a focus on workforce housing which continues to this day.
From 1992 to 2003, MG Properties acquired 32 apartment communities totaling more than 2,500 units in San Diego County. As the values of San Diego properties increased, the company expanded into the Inland Empire with the acquisition of 6 new properties comprising 1,764 units. From 2004 to 2007, the company pursued opportunities in Northern California, Phoenix, Seattle, and Tucson; all markets with compelling investment attributes. In recent years, properties in Nevada and Oregon have been added to the portfolio.
With each stage of expansion, MG Properties has continued its focus on self-managed value-add workforce housing. In most cases, acquisitions have required renovations and operational improvements to make them successful. In some cases, the dramatic improvements made to the properties have been the impetus for the revitalization of surrounding neighborhoods. MG has received numerous awards from local communities and industry associations for property renewal and management accomplishments.