MLG Capital Purchases Belvedere at Springwood Village in Spring, TX

Tags: Acquisitions News
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 luxury bathrooms.

The community offers a resort style pool with sundeck and heated spa, poolside cabanas, professional grade outdoor kitchens with pergolas, and access to 33 miles of trails at the Spring Creek Greenway and Springwoods Village Nature Preserve.

The common areas include WiFi, latte bar, state-of-the-art executive conference room, a state-of-the-art gym, billiard tables and a nearby dog park. Other amenities include valet dry cleaning and doorstep trash/recycling services are also available to residents.

Great basis: the property 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 17,000 units and has managed assets in the Southwest sunbelt region for over 30 years. Valiant Residential brings an entrepreneurial management style, leveraging local relationships and employees to reduce operating expenses.

Valiant is a subsidiary of MLG Capital.

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