IE Business Daily Business news for the Inland Empire.
A 140-unit townhome complex in Ontario has been sold.
MG Properties Group, a real estate investment company in San Diego, paid $38 million for Ontario Town Square Town Homes in downtown Ontario, according to CBRE Group Inc., which arranged the transaction.
The seller was Artemis Real Estate Partner LLC in Maryland. The transaction was announced last week.
The project, which was built in 2009, consists of two-bedroom luxury units that cover an average of 1,500 square feet.
MG Properties has purchased eight residential properties this year in the western United States that collectively are worth about $370 million, according to a statement.
