MG Properties Group purchased a 158-unit apartment building with ground floor retail in Long Beach for $48.9 million, records show.
Sares-Regis Group sold the Pine at Sixth, at 595 Pine Ave., in March. The complex has roughly 9,000 square feet of ground floor retail.
The apartments were 95 percent leased. The retail was fully leased at the time of the sale, according to CoStar Group Inc.
HFF’s Sean Deasy and Blake Rogers represented the seller.
Commercial real estate reporter Hannah Madans can be reached at email@example.com. Follow her on Twitter @HannahMadans
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- Douglas Emmett Buys Westwood Apartment Building for $365M
- Aspen Apartments Sold for $90M
- Long Beach Commercial Property Sells for $29M
- $71.6M for Westlake Apartment Complex
- HBO Leases Ivy Station in Culver City
- Slate Property Group Picks Up Two Hollywood Apartments for $39M
- Goodwin Procter Steps onto Silicon Beach
- El Monte Apartment Building Sells for $41M