MG Properties Bolsters Pacific Northwest Portfolio with Acquisition of Dockside Apartments in Kent
MG Properties, a San Diego-based real estate investment firm, has once again made a significant stride in the multifamily apartment industry with its latest acquisition of Dockside Apartments in Kent, Washington. This addition is a testament to the company’s strategic approach, focusing on prime locations and quality properties that cater to a growing market demand.
Nestled within the master-planned community of Lakes at Kent and bordered by the serene Green River, Dockside Apartments presents a fusion of nature’s tranquility and the urban lifestyle. The 344-unit garden-style apartment community offers a range of one to three-bedroom residences. Residents enjoy open-concept living spaces, stylish modern interiors, and the added luxury of private outdoor areas. Its optimal location not only accentuates the calming natural backdrop but also offers seamless connectivity to the bustling city of Seattle, providing an appealing blend of relaxation and convenience.
Dockside’s extensive selection of lifestyle amenities serves as a cornerstone of the community’s allure. A resort-style swimming pool, comprehensive three-level fitness center, and a clubhouse equipped with a lounge and kitchen are just some of the exceptional features available to residents. Outdoor grilling areas and a pet park further underscore the emphasis on a community-centric living experience.
MG Properties’ selection of Dockside Apartments aligns with the company’s longstanding investment principles. “We are excited to add Dockside Apartments to our growing Pacific Northwest portfolio,” remarked Jeff Gleiberman, President of MG Properties. “Its ideal location, strong resident demand, and potential for continued growth make it a perfect fit for our long-term investment strategy.” His comment echoes the company’s shrewd investment philosophy and confidence in the property’s promising future.
Guiding the transaction process, Eli Hanacek, Mark Washington, Kyle Yamamoto, and Natalie Kasper from CBRE represented the seller. Additionally, financing acumen was provided by Troy Tegeler and Trevor Breaux, also from CBRE Capital Markets.
This acquisition marks MG Properties’ eleventh venture into the Seattle metropolitan area, reinforcing its dedication to fostering growth within vibrant markets. The company’s vision for expansion seeks to capitalize on regions known for economic vitality and a thriving community environment. For industry observers and participants, MG Properties’ activities serve as a bellwether for the health and direction of the multifamily housing market in the Pacific Northwest and its potential trajectory.