News

MLG Capital Purchases Park Avenue Apartments in Gainesville, Florida

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 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.

Purchase Highlights:

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.

Investment Insights to Keep You Ahead

EXPLORE MORE INSIGHTS
  • news image
    Education

    2023 Annual Fall Event

    By Maggie McGowan
  • news image
    News

    MLG Capital Sells Last Asset In Its First Diversified Fund

    Close marks significant milestone for firm 11 years after strategic shift to real estate fund approach  Firm’s latest real estate fund – Private Fund VI – approaches halfway point fundraising...

  • news image
    Education

    The MAD Initiative: St. Marcus School

    MLG Capital is proud to support St. Marcus School as one of the beneficiaries of the MAD Initiative. St. Marcus School has three campuses in the Milwaukee area, serving approximately...