This is the growth story of MG Properties, which acquires, develops, rehabilitates, manages and sells existing apartment properties. Currently MG's portfolio of apartment homes has a total market value of more than $700 million, according to president Mark Gleiberman.
The company was founded in 1989 and initially specialized in small apartment development. Gleiberman, a graduate of Drexel University and a licensed CPA, changed the focus of the company to the acquisition and management of apartment properties soon after the company completed its first partnership in 1992.He said the company recognized the market was beginning to peak and decided to look elsewhere for acquisitions. "With our growth we needed a bigger basket of properties to choose from."