MG Properties Enters Denver Market with $108.2M Acquisition of Neon Local Apartments

DENVER — San Diego-based MG Properties Group has acquired Neon Local Apartments, a multifamily property located in Denver’s South Broadway neighborhood. North America Sekisui House and Holland Partner Group sold the asset for $108.2 million.

Built in 2020, Neon Local Apartments features 238 apartment and proximity to mass transit and commuter freeways.

Jordan Robbins and Pamela Koster of JLL represented the sellers. JLL Capital Markets’ Charles Halladay, Rick Salinas, Brandon Smith and Annie Rice arranged acquisition financing through an affiliate of Apollo Global Management.