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MLG Capital Announces Purchase of Botanica Cottages, a 198-unit multi-family complex in Suburban Philadelphia

 MILWAUKEE, WI – April 11, 2019MLG Capital, the premier outsourced investment manager in private real estate for Investment Advisors, Family Offices and High Net Worth Individuals since 1987, announced the purchase of Botanica Cottages, a 198-unit, class A-, multi-family apartment complex located in Limerick, Pennsylvania, am affluent suburb of Philadelphia.

MLG Capital purchased Botanica Cottages this month. The garden-style community features a spacious two-story resident  clubhouse, spa, sauna, pool, 24-hour fitness center, playground, business center, outdoor summer kitchen with fireplace and BBQ area, conference room, and wide open green spaces with golf course and wooded views. It will be managed and operated by entities related to MLG Capital.

“We plan to invest approximately $11,500 per unit to create more contemporary interiors and upgrade the exterior and amenities,” said Andrew Bruce, Executive Vice President and Principal at MLG Capital.

“The Philadelphia economy is anchored by education and health care; however, a diversified group of 12 Fortune 500 companies call the surrounding area home. Montgomery County is home to a variety of employers including a variety of pharmaceutical plants. Three of the top ten largest pharmaceutical companies in the world Pfizer, Merck, and GSK have a presence within Montgomery County. Merck is currently the largest employer in Montgomery County,” said Bruce.

Purchase Highlights:

MLG Capital is currently raising its fourth private real estate investment fund, MLG Private Fund IV LLC*, a targeted $200 million equity fund that is accepting new accredited investors through March 31, 2021.  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. Combining current investments and pending deals (anticipated to close by 5/15/2019) Fund IV is already targeting to have ± 1,570,000 commercial square feet and 1,885 multifamily apartment units across 11 geographic areas with more being added. MLG Private Fund IV launched in October 2018. The “MLG 1099 Dividend Fund IV” is a parallel fund that enables retirement fund, foundation and endowment investors access to private real estate while targeting to eliminate unrelated business taxable income (UBTI) and multi-state filings.

Since the inception of MLG Capital in 1987, the firm, and entities associated, have had active, exited, or pending investments totaling approximately 18.8 million square feet of total space across the United States, inclusive of more than 13,800 apartment units, with exited and estimated current value exceeding $1.73 billion*

MLG Capital’s series of funds target cash on cash yields, quarterly distributions, and appreciation over time for investors in a tax efficient manner.

Read more about MLG Capital by visiting their blog: www.mlgcapital.com/happenings 

To learn more about this transaction, contact Andy Bruce, Executive Vice President and Principal, at (262) 938-4402 or at aeb@mlgcapital.com

 * This release is for informational purposes only and is qualified in its entirety by reference to the Confidential Private Placement Memorandum (as modified or supplemented from time to time, the “Memorandum”) of MLG Private Fund IV LLC (the “Main Fund”) and MLG 1099 Dividend Fund IV LLC (the “Parallel Fund,” and together with the Main Fund, the “Fund”), the limited liability company agreements (the “LLCAs”) of the Main Fund and the Parallel Fund, each as may be amended and/or modified form time to time, and a subscription agreement related thereto, copies of which will be made available upon request and should be reviewed before purchasing a Units in the Fund. This release is not intended to be relied upon as the basis for an investment decision, and is not, and should not be assumed to be, complete. The contents of this release are not to be considered as legal, business or tax advice, and each prospective investor should consult its own attorney, business advisor and tax advisor as to legal, business, and tax advice. This release does not constitute an offer or solicitation in any state or other jurisdiction to subscribe for or purchase limited partnership interests in an offering. Recipients of this release agree that the manager and offerings, its affiliates and their respective partners, members, employees, officers, directors, agents, and representatives shall have no liability for any misstatement or omission of fact or for any opinion expressed herein. An investment into a private offering is subject to various risks, none of which are described herein.

*As of 3/31/2019. Consistent of sales price & estimated current value (rounded), includes pending acquisition. Valuations may be internally prepared.

 

Resources:

LinkedIn- https://www.linkedin.com/company/mlg-capital/

Website- www.mlgcapital.com

MLG Fund IV- www.mlgcaptial.com/pfiv

Facebook- https://www.facebook.com/mlg.capital.re

Twitter- http://www.twitter.com/mlgcapital

Investor Relations: RequestInfo@MLGcapital.com