MLG Capital (“MLG”) is accepting investments into MLG Private Fund IV LLC and the “MLG 1099 Dividend Fund IV,” a parallel fund that enables Registered Investment Advisors (RIAs) to gain access to private real estate via retirement vehicles while targeting to eliminate unrelated business taxable income (UBTI) and multi-state filings.
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 Park Avenue, a Class A+ 298-unit multifamily property built in 2016 in Gainesville, Florida.
“The purchase of Park Avenue represents an off-market transaction sourced through MLG Capital’s historical relationships. Gainesville is home to the University of Florida, which is the state’s largest and oldest university, demand for housing is strong, and the market maintains high rent growth due to low vacancy,” said Ryan Mueller, Vice President of Acquisitions at MLG Capital.
- MLG Capital acquired the property for $56 million.
- Amenities include gourmet kitchens with European-inspired cabinetry, sleek granite countertops, wood-style flooring, spacious pantries, and stainless steel appliances. Other features include washer and dryer sets, USB charging station, 9-foot ceilings, walk-in closets, and luxury bathrooms.
- The community offers a resort style beach entry pool surrounded by palm trees, hammocks and cabanas, a large grill station area with pergolas, and a dog park.
- The clubhouse includes an iMac and PC cyber business center, self-service café, a state-of-the-art gym with circuit training, cardio machines, weights, yoga studio, fitness on demand, game tables and a media room.