For Immediate Release
David Binder, Vice President
MLG Capital’s Private Fund III Announces Latest Acquisition
Minneapolis Southwest Industrial Portfolio – Minneapolis, MN (Multiple Locations)
October 31st, 2017 – MLG Capital is pleased to announce MLG Private Fund III’s and an MLG co-investment entitie’s investment in a portfolio of five (5) industrial properties spanning 845,622 square feet in the southwestern communities of Minneapolis, MN. The properties are located in Burnsville (1), Eden Prairie (2), Chaska (1), and Shakopee (1). Upon acquisition, the portfolio was 99.6% occupied at acquisition.
The properties within the portfolio benefit from strong locations within the Southwest Minneapolis sub-market. Each property is located near a major highway or interstate, including Interstate 35, Interstate 494, and Highway 169. The properties are also in close proximity to the Minneapolis-St. Paul International Airport. The area is considered an important trucking hub within the Midwest, second only to Chicago. The Southwest Minneapolis sub-market is the area’s second largest industrial sub-market, which is 93.1% occupied according to Colliers International.
MLG has partnered with Westmount Realty Capital, an experienced commercial real estate operator & management team, who will manage the properties. David Berglund, Mark Kolsrud, and Colin Ryan of the Minneapolis based brokerage team of Colliers International facilitated the acquisition and joint venture partnership
Andy Sinclair, Vice President at MLG Capital, said “MLG is glad to add a portfolio of quality industrial properties to our real estate portfolio within the Minneapolis, MN MSA. We believe these buildings will have high demand and future upside in their value. The Minneapolis-St. Paul market continues to be a well performing economy for the long term.”
MLG Capital recently opened its third fund, MLG Private Fund III LLC, a $150 Million equity fund that is currently accepting new investors. Since the launch of its inaugural diversified fund, MLG Private Fund LLC, in 2012, MLG Capital’s funds have active, 3rd party managed, or pending investments across 6 states consisting of approximately 7.3 Million square feet and over 5,378 apartment units. MLG Capital’s funds target cash on cash yields of 8% with all in net return targets of 13-15%/year for our investors.
Investors in MLG Capital’s various private equity funds benefit from investment in a collection of properties with both geographic diversity and property type diversity. MLG Capital focuses on investing in apartments, industrial, retail and office properties. View more about our latest fund by visiting www.mlgcapital.com/our-investors/current-offering/