Thrive at Creekside becomes firm’s 4th asset in Missouri
Brookfield, Wis. (June 7, 2024) – MLG Capital – a national leader in diversified private real estate investments – today announced its acquisition of Thrive at Creekside, located at 15310 Trailside Dr in Parkville, Mo. The Class A multifamily property features 264 apartment homes and 100 townhomes and was constructed in 2020 as part of a mixed-use development. MLG’s investment is in partnership with Denver-based multifamily investment firm, Gold Block Ventures.
“Thrive at Creekside offered a great opportunity to purchase a stabilized, Class A asset in a desirable market,” said Nathan Clayberg, Vice President of MLG Capital. “We believe there is strong demand for this type of niche and newer property in the submarket and we are excited to expand our footprint in the area.”
According to Costar, Parkville is a desirable submarket 15 miles northwest of downtown Kansas City with strong demographics. The area has a high median income, low unemployment rate and limited supply of high-quality multifamily. In fact, Thrive at Creekside was the first multifamily permit granted in 50 years. Additionally, a new elementary school will open adjacent to the property in 2025.
MLG Capital has been acquiring assets since 1987. Since 2012, the firm has operated under a fund strategy, providing investors the opportunity to participate in portfolios of assets rather than individual deals. MLG’s property acquisitions focus on geographic, asset class and asset type diversification. The firm opened its most recent fund – MLG Private Fund VI – in May 2022 with an equity raise goal of $400 million.
Thrive at Creekside is MLG Capital’s 2nd investment in the Kansas City MSA, bringing MLG’s active or sold multifamily units in Missouri to more than 920 and over 752,000 commercial square feet.
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About MLG Capital
MLG Capital is a sponsor of private real estate funds targeting investment from investment advisors, family offices, and accredited individuals. For more information about MLG Capital and its investments, visit the firm’s newsroom.
This release does not constitute an offer to sell an investment in a security. Offers to sell an investment in a security can only be made to a qualified purchaser by delivery of a Confidential Private Placement Memorandum (the “Memorandum”), any supplements to the Memorandum and accompanied by a Subscription Document Booklet. The information contained in this release may be preliminary in nature and may have not been independently verified by MLG Capital or its affiliates. The recipient of this release should consult with its own investment, tax and/or legal professionals about the merits of the investment. MLG Capital does not make any representation or warranty as to the accuracy or completeness of any information presented in this release. Any financial information or projections may be initial estimates and may be subject to change without notice to recipient. An investment into a private offering is subject to various risks, none of which are described herein. All figures as of 3/31/2024. Value consists of disposed of assets as well as the current internal valuation of currently held assets as of 3/31/2024. Values may not have been reviewed by an independent 3rd party and may be internal projections.
For more information, contact:
Katie Whitlock, Public Relations
Laughlin Constable
414-305-5927
