MIG Real Estate Acquires Denver Rosemont Ridge Multi-Family Community for …

NEWPORT BEACH, Calif. DENVER, Nov 29, 2011 (BUSINESS WIRE) –
MIG
Real Estate, LLC, a Newport Beach, Calif.-based real
estate investment company, has acquired Rosemont Ridge at Lowry, an
amenity-rich multi-family housing community in Denver, Colorado. The
240-unit community includes 242,562 square feet of rentable space and is
located near the master-planned communities of Lowry and Stapleton in a
highly desirable, infill area of Denver. The transaction reflects MIG’s
investment strategy, which focuses on real estate opportunities in the
western states with upside potential.

“As a quality rental community in a central Denver location,
Rosemont Ridge is poised to generate value as rents in this region
continue their upward trend,” said Greg
Merage, CEO of MIG Real Estate.

Built in 2003, the property is located at 10000 East Alameda
Avenue and is situated on approximately 10 acres of land. Rosemont Ridge
offers a full menu of amenities, including a fitness center, heated
swimming pool, children’s playground, barbeque area, business center,
clubhouse, spa, theater, and individual units outfitted with full
kitchens, washers and dryers, cable TV and Internet options, private
balconies or patios, walk-in closets, and air conditioning. Select units
offer fireplaces and vaulted ceilings.

Rosemont Ridge directly neighbors Lowry, one of the largest infill
development and base reuse projects in the country, and is within a
convenient distance to prominent retail locations, including the Aurora
City Center and the prestigious Cherry Creek Shopping Center. The
property is also proximate to major employers in the nearby Denver Tech
Center.

“Locations such as Lowry are in strong demand,” says Merage.
“Families and professionals alike are looking to move away from the
sprawl of the suburbs closer to the metropolitan center, making Rosemont
Ridge a community with upside potential.”

MIG entered the Denver market with the acquisition of a Holiday
Inn Suites and a Holiday Inn Express in August 2010. In March 2011 it
acquired I-225 Plaza, a five-building, mixed-use property in Aurora,
Colo., just southeast of Lowry and Rosemont Ridge.

MIG has completed more than $400 million in acquisitions during
the past two and a half years. The company is engaged in an active
expansion of its real estate portfolio through direct acquisitions in
retail, office, industrial, hotel and multifamily properties in major
markets located throughout the western states.

David Potarf, Dan Woodward, and Jordan Robbins of CBRE represented the
seller in the transaction. MIG Real Estate represented itself. MIG has
engaged Alliance Residential Company to manage Rosemont Ridge. Alliance
currently manages more than 6,000 units in the Denver metropolitan area.

About MIG Real Estate

MIG Real Estate (formerly Stoneridge Capital Partners) owns and
operates a diverse portfolio of assets in California, Phoenix, Las
Vegas, Hawaii, Denver, Jackson, Wyoming and Edmonton, Alberta. The firm
is currently engaged in an aggressive expansion strategy, seeking value
added and opportunistic investment opportunities in select service
hotels, grocery anchored shopping centers, office, industrial and
multifamily properties. MIG Real Estate is the real estate arm of MIG
Capital (Merage Investment Group), an alternative investment firm that
also encompasses MIG Absolute Return and MIG Private Equity. Additional
information is available at
http://www.migcap.com/RealEstate/ .

SOURCE: MIG Real Estate

        Idea Hall for MIG Real Estate
        Cassie Zanone, 714-263-8721
        cassie@ideahall.com

Copyright Business Wire 2011

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