MG Properties Group Hires Richard Gelbart As Vice President, Investor Relations

SAN DIEGO, July 19, 2012 /PRNewswire/ -- MG Properties Group (MGPG), a private, San Diego-based real estate investor and operator, has announced the hiring of Richard Gelbart to the newly created position of Vice President, Investor Relations. Gelbart will be responsible for communications with the company's 200 individual investors and the development of relationships with potential new private capital investors.

Gelbart has over 25 years of multifamily investment real estate experience. In his previous position as Senior Vice President and later as President of a San Diego-based apartment investment/management company, he and his team acquired, renovated, managed and sold over 10,000 multifamily units and several office buildings in California, Arizona and Texas. He has lived in San Diego since 1986 and is a graduate of the Platt College School of Architectural Design.

Mark Gleiberman, MGPG's President, said, "As our investor group has grown to over 200 individuals, we recognize the importance of providing outstanding service to those whose investment support has made possible our continuing growth and success and, accordingly, have added this important new position to our senior management group."

MG Properties Group (www.mgproperties.com) is a privately owned West Coast real estate owner and operator specializing in multi-housing assets. Over the last 20 years, MGPG has acquired 76 communities totaling nearly 12,500 units, representing more than $1.1 billion in total asset value. The company's current portfolio includes over 8,000 units in California, Washington, Arizona and Nevada. MGPG employs 250 professionals with in-house expertise in acquisitions and underwriting as well as asset, property, construction and investment management.

Since December 2010, MGPG has completed 10 apartment acquisitions totaling 2,200 units at a value of $300 million. MGPG anticipates closing an additional $200 million in acquisitions within the next 12 months.

Contact:

Richard Gelbart
Vice President, Investor Relations
MG Properties Group
858-366-6554

or

Dan Peoples
Peoples & Company
858-552-1456

SOURCE MG Properties Group