For Immediate Release
David Binder, Vice President
MLG Capital’s Private Fund III Announces Latest Acquisition
Northern Lights Industrial Portfolio – Minneapolis & Saint Paul, MN (Multiple Locations)
January 4, 2018 – MLG Capital is pleased to announce the acquisition of the Northern Lights Portfolio. The portfolio consists of three well located value-add office/industrial flex properties within the Minneapolis-Saint Paul MSA. Two properties are located in Bloomington, MN and one in New Hope, MN. The portfolio totals 195,770 square feet and was ±74% occupied at time of closing.
MLG Capital is partnering with Hoyt Properties for this joint-venture acquisition. Hoyt Properties has partnered with MLG Capital on two similar property acquisitions in the past. Their experienced team will oversee both leasing and asset management.
Andy Sinclair, Vice President at MLG Capital, said “MLG is excited to be partnering with an experienced and trusted group in Hoyt Properties. We’re thrilled about this attractive value-add opportunity within the strong Minneapolis-Saint Paul market.”
MLG Capital recently opened its third fund, MLG Private Fund III LLC, a $150 Million equity fund that is currently accepting new investors. Since inception of MLG Capital in 1987, MLG Capital has had active, exited, or pending investments across the United States consisting of approximately 14.4 Million square feet and over 10,600 apartment units, with exited and estimated current value exceeding $1.2 billion. MLG Capital’s series of 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/