San Diego, CA – [May 20th, 2026] – MG Properties, a San Diego–based multifamily real estate investment firm, announced today the acquisition (via purchase of REIT stock) of Reserve at Spring Creek Apartments, a 458-unit multifamily community located in Richardson, Texas.
Located in Richardson’s Telecom Corridor, Reserve at Spring Creek Apartments offers residents direct access to the region’s premier employment centers and strong transportation infrastructure. The property also benefits from a walkable mix of retail, dining, and recreational amenities. Richardson continues to attract major corporate investment and population growth, supported by the broader North Texas economy and the city’s emergence as an innovation hub for technology, telecommunications, and professional services.
“The Dallas-Fort Worth market remains one of the most resilient and attractive multifamily investment environments in the country,” said Jeff Gleiberman, President of MG Properties. “We look forward to continuing the growth of our footprint in a region that offers compelling long-term opportunities.”
Built in 2019, Reserve at Spring Creek Apartments is a low density apartment community providing residents with walking access to the adjacent Spring Creek Nature Reserve as well as nearby restaurants and the CityLine Market retail center.
The seller, an affiliate of Lone Star Funds, was represented by Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill, and Jack Windham of Institutional Property Advisors (IPA). Freddie Mac financing for the transaction was arranged by IPA Capital Markets’ Cameron Chalfant, Brian Eisendrath, Harry Krieger, and Scott Arenzon.
