“MLG’s purchase of the portfolio represents an exciting opportunity to to acquire 10 assets of “class B” muiltifamily at an attractive basis in locations that are in three fast-growing metropolitan regions of the Southwest with continued population growth, low unemployment, a strong corporate presence and high rankings for livability,” said Ryan Mueller, Vice President of Acquisitions at MLG Capital.
The series of diversified private equity real estate funds and a co-investment entity, all managed by MLG Capital, acquired the transaction.
Diversification: The 10 asset portfolio consists of ±2,700 apartment units across 2 states and 3 major cities.
Great basis: the portfolio 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 14,000 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.