MGI Communities Information

MGI Communities was formed in 1980. With affiliated entities MGI has been actively engaged in the acquisition of apartment communities, apartment rehabilitation, condominium conversion as well as Property Management and the development and sale of residential communities. MGI has managed as many as 2,500 apart and condominium units on an on-going basis. The corporate objective has always been one of "asset enhancement" which is the creation of maximum economic value for its assets within a pre-determined holding period. Through strong management and "adaptive reuse" of the acquired asset (creating significant added value through the renovation and the changing of use, tenant or demographic profile) substantial profits have been enjoyed. MGI was initially formed to manage the real estate assets of its stockholder. Over the years, however, there have been a limited number of occasions where fee management business has been undertaken at the request of lenders and developers who require specialized attention for either start up or distressed real estate.