MG Properties Acquires Village on Main Apartments in Tacoma, Washington for $85.5M

TACOMA, WASH. — San Diego-based MG Properties Group has purchased Village on Main Apartments, a multifamily property located at 5020 Main St. on the Point Ruston Waterfront in Tacoma. Point Ruston Building 7 LLC, a company owned by Loren McBride Cohen, sold the asset for $85.5 million.

Village on Main features 200 apartments and access to a mix of retailers, restaurants and entertainment venues in the Point Ruston Waterfront mixed-use community.

Chris Ross, David Young, Corey Marx, Jordan Louie and Michael Lyford of JLL represented the seller. Charles Halladay, Rick Salinas and Jake Wisness of JLL Capital Markets arranged financing for the buyer.