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
- Long Beach Multifamily Building Sells for $73 Million
- Douglas Emmett Buys Westwood Apartment Building for $365M
- Koreatown Building Sells for $189 Million
- Blackstone Group Buys 3 Multifamily Buildings for $178 Million
- Long Beach Commercial Property Sells for $29M
- Aspen Apartments Sold for $90M
- Redondo Apartment Complex Gets $75 Million Loan
- Westlake Apartment Complex Sells for $48 Million