**MG Properties Acquires 361-Unit Ovation at Galatyn Park in Richardson, Texas**
MG Properties has acquired Ovation at Galatyn Park, a newly constructed apartment community located at 2323 Plaza Blvd in Richardson, Texas. The 361-unit complex opened in March 2024.
The sellers—Legacy Partners and an institutional partner—were represented by Daniel Baker, Johnathan Makus, Kevin O’Boyle, and Chandler Sims of CBRE. The financing for the transaction was led by CBRE Capital Markets’ Andrew Behrens, Jesse Weber, and Stephen Baird.
Ovation at Galatyn Park offers a mix of one-, two-, and three-bedroom units ranging from 632 to 1,432 square feet. The property features a range of amenities including a swimming pool, fitness center, mini-mart, and game arcade room. Average monthly rents are approximately $1,500.
This acquisition marks MG Properties’ first investment in the Texas market and brings the company’s total multifamily portfolio to more than 32,000 units across several states.
Since its inception, MG Properties has developed or acquired over 80,000 apartment homes, with a total investment exceeding $8.5 billion. Legacy Partners, which has regional offices in California, Colorado, Florida, North Carolina, Texas, and Washington, has developed more than 68,000 apartment homes across Arizona, California, Colorado, Florida, Nevada, Oregon, Texas, and Washington.
