Richardson, Texas, September 13, 2025
News Summary
MG Properties, a private real estate investment firm, has made its first investment in Texas by acquiring Ovation at Galatyn Park, a luxury apartment community in Richardson. This acquisition strengthens MG Properties’ portfolio, adding a well-located multifamily asset close to employment centers and retail options. The deal reflects the firm’s strategic move to diversify its presence beyond its traditional western U.S. markets amidst the growing demand in the Dallas-Fort Worth rental landscape.
Richardson, Texas — MG Properties, a private real estate investment firm specializing in multifamily properties, has expanded into the Texas market with the acquisition of Ovation at Galatyn Park, a luxury apartment community located in Richardson, a suburb of Dallas. The transaction marks MG Properties’ first investment in the state and adds a high-caliber asset to the firm’s growing portfolio of residential communities.
What happened
The acquisition of Ovation at Galatyn Park brings a premier multifamily community under MG Properties’ ownership and management. The property is positioned near major employment centers, retail destinations, and public transit, providing residents with strong connectivity and access to the broader Dallas–Fort Worth area.
Key details of the transaction
- Buyer: MG Properties, a firm that manages more than 32,000 rental homes across multiple states, primarily in the western United States.
- Property: Ovation at Galatyn Park, described as a luxury apartment community with modern interiors and premium amenities.
- Location: Richardson, Texas (Dallas suburb).
- Sellers: Legacy Partners, together with an institutional partner.
- Broker representation: The sale was represented by Daniel Baker, Johnathan Makus, Kevin O’Boyle, and Chandler Sims of CBRE.
- Financing: Oversight provided by CBRE Capital Markets, including Andrew Behrens, Jesse Weber, and Stephen Baird.
Why this matters
The acquisition represents MG Properties’ first step into the Lone Star State, reflecting a strategic effort to diversify the firm’s geographic footprint beyond its core western U.S. markets. The Dallas–Fort Worth region is widely regarded as a dynamic and resilient rental market, with strong employment growth and population trends that support multifamily demand. Adding a well-located, amenity-rich community in Richardson aligns with MG Properties’ stated strategy of expanding its portfolio of high-quality residential assets.
Property attributes and resident appeal
Ovation at Galatyn Park is characterized as a sought-after living destination that emphasizes luxury, convenience, and connectivity. The community offers modern interior finishes and premium amenities designed to meet renter expectations for urban-suburban living. Its proximity to public transit and major employment centers enhances commuting options and access to regional retail and services.
Representation and financing
The transaction involved institutional-level brokerage and capital markets teams from CBRE. Specific brokers who represented the sale were Daniel Baker, Johnathan Makus, Kevin O’Boyle, and Chandler Sims, while CBRE Capital Markets professionals Andrew Behrens, Jesse Weber, and Stephen Baird handled financing oversight. The presence of these advisory and capital teams is consistent with typical structuring for large multifamily transactions in competitive markets.
Organizational context
MG Properties was founded in 1992 in San Diego, California, by Mark Gleiberman. Since its founding, the firm has pursued investment, redevelopment, and management of multifamily assets with an organizational mission to enrich communities through these activities. The company’s management portfolio exceeds 32,000 rental homes across several states.
Legacy Partners, the seller in this transaction alongside an institutional partner, has an established history in multifamily development and acquisition, with a track record of more than 80,000 apartment homes developed or acquired and total project costs exceeding $8.5 billion. The sale of Ovation at Galatyn Park is part of regular portfolio activity by institutional and developer owners who reposition capital across markets.
Market backdrop
The Dallas–Fort Worth metro area, including suburbs like Richardson, continues to attract corporate relocations, job growth, and population inflows. Those market fundamentals contribute to rental demand and the attractiveness of multifamily investments for firms seeking long-term, income-producing assets. For MG Properties, entering this market provides geographic diversification and exposure to one of the nation’s larger and more active multifamily markets.
Next steps and expectations
MG Properties will integrate Ovation at Galatyn Park into its management platform and portfolio operations. The acquisition is positioned to support the firm’s strategic growth objectives while offering residents continued access to the community’s amenities and location advantages.
FAQ
What property did MG Properties acquire?
MG Properties acquired Ovation at Galatyn Park, a luxury apartment community located in Richardson, Texas.
Is this MG Properties’ first investment in Texas?
Yes. The acquisition marks MG Properties’ first investment in the Texas market.
Who sold the property?
The sellers were Legacy Partners along with an institutional partner.
Who represented the transaction and financing?
The sale was represented by Daniel Baker, Johnathan Makus, Kevin O’Boyle, and Chandler Sims of CBRE. Financing oversight was provided by CBRE Capital Markets professionals Andrew Behrens, Jesse Weber, and Stephen Baird.
Where is the property located and what amenities does it offer?
Ovation at Galatyn Park is in Richardson, near major employment centers, retail, and public transit. It features modern interiors and premium amenities aimed at providing luxury, convenience, and connectivity for residents.
What is MG Properties’ background?
MG Properties was founded in 1992 in San Diego by Mark Gleiberman. The company manages over 32,000 rental homes and focuses on investment, redevelopment, and management of multifamily assets.
Key features at a glance
| Feature | Detail |
|---|---|
| Buyer | MG Properties |
| Property | Ovation at Galatyn Park (luxury apartments) |
| Location | Richardson, Texas (Dallas suburb) |
| Transaction role | Represented and financed by CBRE teams |
| Sellers | Legacy Partners and an institutional partner |
| MG portfolio | Over 32,000 rental homes across multiple states |
| Market context | Part of the larger, resilient Dallas–Fort Worth rental market |
Deeper Dive: News & Info About This Topic
HERE Resources
Additional Resources
- Community Impact: MG Properties Acquires Ovation at Galatyn Park
- PR Newswire: MG Properties Expands into Texas Market
- MultiHousing News: MG Properties Buys SoCal Community
- IPE Real Assets: MG Properties Buys $309M US Apartment Asset
- CoStar: Rare Rent-Controlled Hollywood Apartments Sell
- Wikipedia: Real Estate in the United States
- Google Search: MG Properties
- Google Scholar: MG Properties
- Encyclopedia Britannica: Real Estate
- Google News: MG Properties
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