ATLANTA, Dec. 5, 2016 -- JMG Realty, Inc. today announced they have been selected as the managing agent for a $236 million, six (6) property Multifamily Portfolio acquired in a venture between Ares Management and TruAmerica Multifamily.
The 1,402 unit portfolio is spread across some of the strongest multifamily markets in the greater Baltimore metropolitan market:
Dominion at Eden Brook - Columbia, MD
Dominion Kings Place - Columbia, MD
Lakeside Mill - Owings Mills, MD
Ellicott Grove - Ellicott City, MD
Arborview at Riverside & Liriope - Belcamp, MD
Dominion Constant Friendship - Abingdon, MD
The properties are well located near major military, government and corporate employers in the area. The portfolio will have a multi-million dollar renovation program instituted to renovate and reposition the portfolio. Exterior and interior upgrades will consist of significant improvements to landscaping, building exteriors, exterior painting as well as appliance packages, countertops and cabinets for the interiors.
With properties already located in Maryland and Virginia, JMG's Mid-Atlantic footprint continues to grow, prompting the establishment of a new office in the Baltimore area.
About JMG Realty, Inc.
Headquartered in Atlanta, GA for more than two decades, JMG Realty, Inc. has operated as a fully disciplined real estate company, concentrating in the redevelopment, financial services and management of multi-family real estate properties. The firm currently manages over $2.9 billion in assets and 26,000 units across the United States. Defined by Integrity, Trust and Ethics, JMG Realty continues to influence the multi-family industry by delivering on the experience of team members and a record of award-winning performance. For more information visit www.jmgrealty.com.
About Ares Management, L.P.
Ares Management, L.P. is a publicly traded, leading global alternative asset manager with approximately $97 billion of assets. Ares believes each of its three distinct but complementary investment groups in Credit, Private Equity and Real Estate is a market leader based on assets under management and investment performance. For more information, visit www.aresmgmt.com.
About TruAmerica Multifamily
TruAmerica Multifamily is a vertically-integrated, value-add multifamily investment firm based in Los Angeles. Founded in July 2013, TruAmerica has been one of the country's most active multifamily investors and manages a $6.6 billion portfolio of approximately 32,000 units across prime locations throughout Northern and Southern California, Washington, Oregon, Colorado, Arizona, Nevada, Utah and Maryland. For more information on TruAmerica Multifamily, visit www.truamerica.com.