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MG Properties Refis San Diego Apartment Complex

The investor secured $32 million Freddie Mac floating rate financing for a property in El Cerrito.

MG Properties has secured a $32 million loan to refinance an apartment property in El Cerrito, California. The loan was secured through Freddie Mac’s floating rate financing program.

Built in 1993, the 135-unit Del Norte Place Apartments is comprised of four, four-story residential buildings and 18,901 square feet of commercial space on a 3.5 acres of land. MG Properties is planning $3.7 million of capital improvements during the next two years.

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Kelsi Maree Borland

Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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