MBK Rental Living sells Artesa at Menifee Town Center apartment community to MG Properties Group for $156M

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MBK Rental Living sells Artesa at Menifee Town Center, a 330-unit new Class A apartment community in Menifee, to MG Properties Group Thursday, Oct. 28, for $156 million, or $472,727 per unit. Valley News/Courtesy photo
IRVINE – MBK Rental Living executed the sale of its Artesa at Menifee Town Center, a 330-unit new Class A apartment community in Menifee, to MG Properties Group Thursday, Oct. 28, for $156 million, or $472,727 per unit. Opened in February 2020, the 15-acre apartment community consists of 37 two- and three-story walk-up buildings with eight open-concept floor plans. The one-, two- and three-bedroom residences range from 820 to 1,322 square feet. The community was designed with common area amenities and provides urban style living in a walkable, small-town setting. Artesa is located in one of the fastest growing cities in California and is strategically positioned along the Interstate 215 corridor, an area of significant economic expansion, including the new Menifee Justice Center, whic
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