SAN DIEGO — MG Properties has acquired Park 12 Apartments, a 35-story high-rise property located in downtown San Diego, for $309 million. The property is situated adjacent to Petco Park, home of the San Diego Padres Major League Baseball team, within the Ballpark Village master planned community.
Built in 2018, Park 12 offers a mix of studio, one-, two- and three-bedroom units, including penthouse units with exclusive access to a lounge on the 32nd floor.
Shared amenities include pools with poolside event space, a fitness center, golf simulator and putting green, sun deck and spa, dog park, coffee and herbal tea bar, clubroom, sports lounge and game room. The property also features courtyards with outdoor seating, grilling areas and fire pits.
Joseph Smolen and Geoff Boler of Eastdil Secured represented the seller, Greystar, in the deal. Greg Stampley and Lee Redmond, also with Eastdil Secured, negotiated a Fannie Mae acquisition loan of an undisclosed amount on behalf of MG Properties.