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MLG Capital Acquires Venetian At Capri Isles Multifamily Asset Under Firm’s Innovative Legacy Fund
Apartment property is MLG’s 24th acquisition in Florida Brookfield, Wis. (October 31, 2024) – MLG Capital – a national leader in private real estate investments – today announced its acquisition of Venetian at Capri Isles, located at 1050 Capri Isles Boulevard, Venice, Fla. The 180-unit property was acquired under MLG’s innovative Legacy Fund, which offers a tax-deferred exit strategy for private real estate owners. From 2023-2024, the North Port-Sarasota-Bradenton MSA was the second-fastest growing in the country, with its housing market ranking third nationwide according to the US News and World Report. The Venetian is well-located in the Sarasota County Schools district, which ranks No. 1 in Florida by Niche.com. The property also located near several major and growing employers. MLG plans to make strategic capital improvements to the property, including interior unit, exterior unit and amenity upgrades to enhance the asset’s desirability. “Our unique Legacy Fund structure recently surpassed $1.4 billion in acquisitions, and we are pleased to add Venetian at Capri Isles to our asset mix for the fund,” said David Rodriguez, vice president at MLG Capital. “This property presents a nice opportunity in a growing market and provides diversification to our fund that will help drive returns...
