Class A Apartment property features high-quality amenities and a convenient location in a market with high demand for multifamily housing
Brookfield, Wis. (July 28, 2023) – MLG Capital – a national leader in diversified private real estate investments – today announced its acquisition of the Market Square apartment property, located at 3100 Market Lane in Kenosha. The Class-A apartment property was built in 2017 and 2019 and features 330 apartment units, robust amenities and a convenient location near high-quality retail in a key industrial corridor. MLG acquired an interest in the property with its growing Legacy Fund, which offers a tax-deferred exit strategy for private real estate owners.
“This is an exciting acquisition in a market with significant commercial development and convenient access to both Milwaukee and Chicago,” said Daniel Price, senior vice president at MLG Capital. “MLG expects to see continued industrial development and job growth in this corridor that will drive strong tenant demand over the next several years.”
According to CoStar, the Kenosha industrial market has had over 11 million square feet of industrial projects delivered in the past two years, with another 6 million planned or under construction. Local reports cite a strong need for additional housing units in the county. Kenosha County is home to major employers, including Amazon, Uline, Snap-on and Haribo.
MLG Capital has been acquiring assets since 1987. Since 2012, the firm has operated under a fund strategy, diversifying investors across portfolios of assets, rather than individual deals. MLG’s acquisitions focus on geographic, asset class and asset type diversification.
Market Square is the firm’s first acquisition in Kenosha and brings MLG’s total number of units owned in Wisconsin to more than 3,300. It is the 64th property acquired as part of MLG’s Legacy Fund, which recently surpassed $1 billion in assets, marking a significant milestone for the first-of-its-kind solution.
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About MLG Capital
MLG Capital is the premier outsourced investment manager in private real estate for investment advisors, family offices and accredited high net worth individuals. Since its inception in 1987, the firm and associated entities have had active, exited, or pending investments totaling approximately ±42.6 million square feet of total space across the United States, inclusive of more than 36,500 apartment units, with exited and estimated current value exceeding $6.1 billion, as of 3/31/23. For more information about MLG Capital and its investments, visit the firm’s newsroom.
For more information, contact:
Katie Whitlock
Laughlin Constable Public Relations
kwhitlock@laughlin.com
414-305-5927
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 3/31/2023. Value consists of disposed of assets as well as the current internal valuation of currently held assets as of 3/31/2023. Values may not have been reviewed by an independent 3rd party and may be internal projections.
