Tag: Magma

Magma Group Berhad (“Magma” or the “Company”), a dynamic investment holding group, today announced a significant development in the Company’s ongoing legal proceedings. Dato’ Sri Thomas Liang Chee Fong, Managing Director of Magma During the Case Management held on 9 January 2024, the Court granted permission for Public Bank Berhad (“the Plaintiff”) to withdraw the Suit against the Defendants, which includes Astaka Mekar Sdn Bhd, a wholly-owned subsidiary of Magma. This withdrawal is executed with the liberty to file afresh and without any order as to costs, marking a pivotal moment for the Company. The Suit, originally filed by Public ... Read more

LA-based multifamily investment firm opens Charlotte, NC office to Manage Continued Growth in North Carolina and the Southeast Keystone Apartments MANHATTAN BEACH, Calif. – April 26, 2022 – PRLog — Magma Equities (“Magma”) in joint venture with Prudent Growth Partners (“Prudent Growth”) has acquired Keystone Apartments (Keystone), a 202-unit multifamily community in Fayetteville NC, in an off-market transaction for $23.675 million. Magma is one of the most active multifamily investors in North Carolina. Keystone is the firm’s 18th acquisition in the state over the past four years and its third acquisition in North Carolina this year. To facilitate its continued ... Read more

Palencia Apartment Homes MANHATTAN BEACH, Calif. – April 6, 2022 – PRLog — Magma Equities (“Magma”), in a joint venture with funds managed by Franklin Templeton (“Franklin Templeton”), has acquired Palencia Apartment Homes, a 281-unit apartment community in north Dallas, its fourth multifamily investment in the Dallas/Ft. Worth metro since opening a regional headquarters here late last year. Palencia Apartment Homes’ studio, one- and two-bedroom apartment homes are housed in nine three-story residential buildings on a 9.61-acre site. Common area amenities include two swimming pools, a clubhouse, fitness center, business center, and picnic and grilling area. The Magma led joint ... Read more

Cameron Southpark MANHATTAN BEACH, Calif. – Jan. 5, 2022 – PRLog — Magma Equities (“Magma”) in joint venture with funds managed by Franklin Templeton has acquired in an off-market transaction, Cameron SouthPark, a 309-unit apartment community in Charlotte, NC for $79.25 million. Constructed in 1984 and renovated in 2016, Cameron SouthPark’s one- and two-bedroom apartment homes are housed in 26 three-story residential buildings on a low-density 35-acre site.  Common area amenities include two resort-style swimming pools, each with an expansive sundeck with grills and outdoor kitchen; a large clubhouse with fitness center; sand volleyball, basketball and tennis courts; and dog ... Read more

Opens regional headquarters in Dallas under the direction of Tom Short who joins the firm as partner Verandas At City View LA CANADA FLINTRIDGE, Calif. – Nov. 23, 2021 – PRLog — Multifamily investment firm Magma Equities (“Magma”) in two separate off-market transactions has acquired apartment communities in Dallas and Fort Worth representing 562 apartment homes, two of five acquisitions the firm expects to close in the Dallas/Fort Worth MSA by year end. To support its growing investment activities in Texas and the Central U.S., Magma has also announced that it has established a regional headquarters in Dallas, TX under ... Read more