Mixed-Use Complex in Long Beach Sells for $48.9M

595 Pine Ave.

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 hmadans@labusinessjournal.com. Follow her on Twitter @HannahMadans

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