For Immediate Release
MLG Capital’s Private Fund III Announces Latest Investment
Boone Plaza Industrial
(124,068 – Golden Valley, MN Minneapolis MSA)
MILWAUKEE, WIS. July 31st, 2018 – MLG Capital is excited to announce the strategic investment into Boone Plaza Industrial, a 124,068 square foot industrial property. The asset is located in the Minneapolis, MN MSA.
Minneapolis has a diverse and robust economy which is home to 17 Fortune 500 company headquarters. The metro’s unemployment rate of 3.3% is outpacing the national average.
Boone Plaza, built in 1984, is located on 10 acres of land in Golden Valley, MN, which is within west/northwest industrial sub-market of the Minneapolis-Saint Paul MSA. This sub-market is the largest industrial sub-market in the MSA with 28% percent of the total inventory. The Minneapolis-Saint Paul industrial market remains strong with continued decreases in vacancy. Overall market vacancy is 4.93% as of Q2 2018. The property is extremely well maintained and has little to no deferred maintenance as of acquisition.
The asset is currently ±86% occupied upon acquisition.
“We are excited to acquire Boone Plaza, a well-located Flex/Industrial property. We are fond of the location in Golden Valley, MN which benefits from the central and infill location, with easy access to key transportation thoroughfares within the Minneapolis MSA”, said Andy Sinclair, Vice President of Private Equity at MLG Capital. “This asset offers our Fund investors a unique opportunity to invest in an asset that has the tenant diversification of many everyday businesses and will be a great compliment to our overall portfolio.”
MLG Capital is currently on its third fund, MLG Private Fund III LLC*, a $150 Million equity fund that is accepting new accredited investors through Summer of 2018. The series of MLG Private Funds were formed to acquire, directly or indirectly, a geographically diverse portfolio of commercial real estate. Primarily consisting of Commercial multifamily properties, Industrial, Retail, Office, and other opportunistic opportunities located in strategically identified areas throughout the United States.
Since the inception of MLG Capital in 1987, the firm and entities associated had active, exited, or pending investments of approximately 15.5 million square feet of total space across the United States, inclusive of more than 11,250 apartment units, with exited and estimated current value exceeding $1.5 billion**
MLG Capital’s series of funds target cash on cash yields, quarterly distributions, and appreciation over time for investors. Read more about MLG Capital by visiting: www.mlgcapital.com/happenings
*Offers to sell an interest in an offering of MLG Capital or affiliates will only be made to a qualified purchaser by the delivery of the confidential private placement memorandum and current supplement, accompanied by a subscription document booklet. Please reference MLG Private Fund III LLC Confidential Private Placement Memorandum and current supplements for full details.
**as of 6/30/2018. Value is consistent of disposed of assets as well as the current internal valuation of currently held assets as of 12/31/2017. Values may not have been reviewed by an independent 3rd party and may be internal projections.
Other Sources: Colliers Industrial Market Reports, Bureau of Labor Statistics
Investor Relations: Kathleen Pecard, Investor Relations Manager, Kpecard@mlgcapital.com