Events and Newsroom
The latest news, information, and event details from MLG Capital. Check back often to see what is happening!
Speakers Bureau-
News
Opportune Des Moines and Charlotte Multi-Family Deals Grow MLG Footprint to More than 20K Units Nationwide
Brookfield, Wis (January 14, 2021) MLG Capital announced today it completed two opportune multi-family asset purchases in Iowa and North Carolina. This marks a milestone of having owned or sold more than 20,000 apartment units nationwide since the firm’s beginning in 1987. With the closing of these deals at year end 2020, MLG has also topped $2.7 billion in historic market value of assets currently held, sold or pending acquisition, encompassing more than 25.4 million square feet of property across 18 states. “Reaching any significant milestone as a company is exciting as it validates the hard work, expertise and passion of our professionals, and we are thrilled with these new, strategic acquisitions that fueled this latest growth spurt for a strong start in 2021,” said Billy Fox, CPA, Vice President at MLG Capital. The Des Moines, Iowa, purchase includes three apartment complexes, Alice Patricia (720 NE Alice’s Rd., Waukee, IA 50263), Sterling Pointe (10509 Dorset Dr., Johnston, IA 50131) and Johnston Heights (6120 NW 106th St., Johnston, IA 50131). Built between 2013 and 2020, the Class A properties collectively have 540 units and nearly 600,000 square feet. The three-property sale was acquired via partnership with ARTISAN Capital Group, a multi-family investment management partner with local…
-
News
MLG Capital and Partner Purchase Pinewood Apartments in Augusta, GA
Brookfield, Wis. (October 28, 2020) – MLG Capital announced today the acquisition of Pinewood at National Hills located at 1075 Bertram Road in Augusta, Ga. The 160-unit multi-family apartment complex was built in 1983 and is a Class B property. The property was acquired in an off-market transaction partnership with The Sterling Group, a real estate investment management group with local expertise in the Augusta market. “Our joint venture acquisition strategy involves purchasing income-producing multifamily assets in high-growth markets that are priced under market value, and we partner with strong real estate firms that have local and regional expertise to grow and manage the assets,” said Mike Slinde, Assistant Vice President of Private Equity at MLG Capital. According to Slinde, the Pinewood at National Hills property presented an excellent opportunity for both organizations as it has great value-add potential and because The Sterling Group was looking to expand its presence in the Augusta area. Pinewood at National Hills is the first property investment by MLG Capital in Augusta and its third in Georgia, bringing MLG’s owned number of units in the state to more than 700. MLG Capital plans to invest in The Pinewood property, upgrading its interior, exterior and amenities to strongly position it among…
-
News
MLG Capital Purchases Southtech II in Bloomington, MN
MLG Capital, the premier outsourced investment manager in private real estate for Investment Advisors, Family Offices and High Net Worth Individuals since 1987, announced its most recent acquisition of a 115,000- square foot Flex building in the Bloomington, MN MSA. The property sits just over 10 miles south of Minneapolis and 20 miles southwest of St. Paul. Southtech is located with great access to both I-494 and I-35, making it a desirable location for companies to lease space. Property Highlights: Planned finish of 70% office and 30% warehouse 3.51/1,000 Parking Ratio 19’ Docking Area and 17’ Drive-in 14’ Clear Heights
-
News
MLG Capital Welcomes Dan Price as Vice President of Acquisitions
MLG Capital is excited to welcome our new VP of Acquisitions, Daniel Price. Daniel is making his way back to Wisconsin after more than 10 years in Chicago. He began his professional career at Chicago-based Waterton before joining Waypoint Real Estate Investments. At both companies he focused on the residential sectors while being involved in the acquisition of over $3B of multifamily assets across the U.S. As MLG Capital continues to grow and expand, Daniel’s focus will be on direct, industrial and multifamily acquisitions for the Midwest region. Barry Chavin, Principal at MLG Capital, said “We are excited to have Dan join our team. His talent, experience and reputation will be an asset. With Dan’s assistance, we look forward to implementing our Midwest acquisition plan.” Daniel echoed those sentiments saying, “I am excited to be joining a company with a first class team, great track record, and targeted vision going forward. MLG has built a great platform, and I look forward to helping take it to the next level.” Congratulations, Daniel, and welcome to MLG Capital!
-
News
MLG Capital Purchases Diamond Mesa in Albuquerque, NM
MLG Capital, the premier outsourced investment manager in private real estate for Investment Advisors, Family Offices and High Net Worth Individuals since 1987, announced its most recent acquisition of Diamond Mesa. The acquisition is a 456-unit Class A, multifamily property located in Albuquerque, NM and built in 2015. The property features townhome style units that average 1,081 SF and is conveniently located near I-40, Kirtland AFB, and the University of New Mexico. Purchase Highlights: Interior units include fully-equipped kitchens with granite countertops, in-unit washer & dryer sets, and direct garage access. Other features include walk-in closets, and private patios. The community offers: Two swimming pools and a hot tub with outdoor lounge space A state-of-the-art 24-hour fitness center Clubhouse that included billiard tables Playground and “Bark Park” (dog park) Business Center with computer access and Wi-Fi
-
News
MLG Capital Refinances 476-Unit Westgrove Apartments Property
MLG Capital, the premier outsourced investment manager in private real estate for Investment Advisors, Family Offices and High Net Worth Individuals since 1987, announced its completion of the refinance of the 476-unit Westgrove Apartments property, located in Waukesha, Wisconsin (Metro Milwaukee MSA). Refi Highlights The property now has 10 years of fresh debt (interest-only) at a 3.05% fixed rate. The prior loan was at 4.73%. MLG was able to distribute approximately $10M to the investment group and will earmark approximately $2M for continued renovations. Capital Improvement Plan Continue original strategy: complete interior renovations to create value and replace dated/failing mechanical and structural items as needed. Renovations to-date: Clubhouse redesign Complete interior unit upgrades Upgrades to common area features of the property including the outdoor recreation area, dog park, and patio and outdoor grilling area Energy conservation strategies, including low-flow toilets/showers and LED lighting
-
News
MLG Capital Purchases Belvedere at Springwood Village in Spring, TX
MLG Capital, the premier outsourced investment manager in private real estate for Investment Advisors, Family Offices and High Net Worth Individuals since 1987, announced its most recent acquisition of The Belvedere at Springwoods Village. The acquisition is a 342-unit Class A, 4-story mid-rise apartment community with structured parking, located in the Houston, TX MSA and built in 2014. “We are excited about our purchase of The Belvedere at Springwoods Village and believe the asset will be a great long-term addition to our portfolio. The property’s location, age, construction quality, and unique amenity set make it a best in class asset that will produce stable cash flow for our investors. The Belvedere at Springwoods Village is an ideal location just south of The Woodlands off I-45 and the Grand Parkway in Spring, Texas, and within an short walk or bike ride away from the area’s major employment centers, as well as a host of retail, dining and recreational destinations,” said Ryan Mueller, Vice President of Acquisitions at MLG Capital. Purchase Highlights: Interior units include gourmet kitchens with European-inspired cabinetry, sleek counter tops, wood-style flooring, spacious pantries, and stainless steel appliances. Other features include washer and dryer sets, 10-foot ceilings, walk-in closets, and…
-
News
MLG Capital Coronavirus watch: Our latest assessment
To Our Extended MLG Family, As you are no doubt aware, concern about the spread of the novel coronavirus, COVID-19, is increasing by the day. First, we pray for the safety and protection of family and friends. Financial matters seem less significant when life and health issues come into our lives. We are encouraged that significant action is being taken by everyone to reduce the possible impact of this virus. At MLG, we are taking proactive steps to protect our 450+ employees across the country, and the thousands of residents or tenants in our properties. We remain diligent and steady in our investment objectives for our funds, objectives that have been tested and proven for over 3 decades. The leadership team at MLG takes this situation very serious and has been monitoring numerous trusted resources as information comes out, while continuing to communicate amongst our team and clients. Given this we have taken the following steps: Delaying all deals that are not yet committed for 30 days. We have opportunities in Phoenix and Chicago. Both deals are off market with good fundamentals and are nice opportunities. We are simply asking the sellers to proceed with the legal paperwork but delay any…
-
News
MLG Capital Purchases Ten Property Portfolio In TX and OK
MLG Capital, the premier outsourced investment manager in private real estate for Investment Advisors, Family Offices and High Net Worth Individuals since 1987, announced its most recent acquisition of a portfolio of ten multi-family assets containing± 2,700 units. The portfolio is located across three geographic locations within the burgeoning Southwest Sunbelt region, Houston, TX, Tulsa, OK and Oklahoma City, OK. “MLG’s purchase of the portfolio represents an exciting opportunity to to acquire 10 assets of “class B” muiltifamily at an attractive basis in locations that are in three fast-growing metropolitan regions of the Southwest with continued population growth, low unemployment, a strong corporate presence and high rankings for livability,” said Ryan Mueller, Vice President of Acquisitions at MLG Capital. Purchase Highlights: The series of diversified private equity real estate funds and a co-investment entity, all managed by MLG Capital, acquired the transaction. Diversification: The 10 asset portfolio consists of ±2,700 apartment units across 2 states and 3 major cities. Great basis: the portfolio has a great acquisition basis vs. the cost of new construction in the marketplace A subsidiary of MLG Capital, Valiant Residential, will operate and manage the portfolio. Valiant Residential currently manages over 14,000 units and has managed assets…
-
News
MLG Capital Sells The Park At Forest Hill in Memphis, Tennessee
MLG Capital, the premier outsourced investment manager in private real estate for Investment Advisors, Family Offices and High Net Worth Individuals since 1987, in partnership with Continental Realty Group, through its subsidiary Continental Realty Assets, Ltd. (“CRA”), a Denver-based multi-family investment firm, have completed the disposition of The Park At Forest Hill, a 601-unit multifamily property built in 2002/2007 in Memphis, Tennessee. The sale price was $64 million. Located in the Germantown/Southwind submarket of Memphis, the 601-unit community was developed in two phases in 2002 and 2007. The property directly benefits from its proximity to high-profile corporate centers, a beautiful country club environment, and a state recognized exemplary school district. Transaction Highlights: MLG and CRA purchased the property in 2016 for $39.1 million and undertook a light value-add and re-branding strategy which included renaming the property from ‘Greens at Irene’ to ‘Park at Forest Hill’. The business plan primarily focused on improving the common areas and amenities, while also upgrading select units with items such as new vinyl plank flooring, stainless steel appliance package, kitchen and bathroom cabinet fronts and all new unit hardware. The asset management team directed over $3.1 million to the improvement of the physical property with…
Subscribe to MLG Updates
Join our mailing list to get the latest news and blog updates from MLG!