ANAHEIM, CALIF. — Intercontinental Real Estate Corporation and MG Properties Group have purchased the 768-unit Madison Park Apartments in Anaheim for an undisclosed sum. The community is located at 2235 W. Broadway.
This is the largest single property by number of units to be purchased in Southern California since 2013, according to the buyers. Madison Park is situated in West Anaheim near the I-5 freeway, between Disneyland and Knott’s Berry Farm.
The buyers plan to make improvements to the community’s common areas and interiors. Common-area amenities include two swimming pools, sports courts, a large fitness center and group exercise room, clubhouse, movie theater, banquet room and a business center.
Madison Park was purchased from a private multifamily investment firm that was represented by Institutional Property Advisors’ Greg Harris and Kevin Green. The buyers represented themselves in this transaction.
The acquisition was financed with a 10-year, fixed-rate mortgage from Fannie Mae that was arranged by Brian Eisendrath at CBRE.