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North Hollywood Apartments Fetch $27M

LOS ANGELES—San Diego-based MG Properties Group purchases the 236-unit Marquee Apartment Homes complex for $27.5 million and assumed the seller's existing loan, GlobeSt.com reports in this EXCLUSIVE story.

By Kelsi Maree Borland | Updated on March 10, 2014

LOS ANGELES—San Diego-based MG Properties Group has purchased the Marquee Apartment Homes from Marquee Apartments LLC for $27.5 million, GlobeSt.com has learned exclusively. As part of the transaction, the buyer assumed the seller’s existing loan.

Located on 4.46 acres of land in North Hollywood, the property has 236 studio, one- and two-bedroom units has recently been renovated to give the community a resort-like feel. The seller upgraded the property’s interior units, added a fitness center and installed brand-new copper piping. The seller also completed a new construction and leasing center.

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