Brookfield, Wis. (August 23, 2022) – MLG Capital today announced its acquisition of two multifamily properties in the Memphis area – Preserve at Southwind (7991 Capilano Drive in Memphis) and Preserve at Bartlett (8840 Bristol Park Drive in Bartlett). The properties total 306 and 300 units respectively and both feature a range of one-, two- and three-bedroom floor plans with attractive amenities.
“The Preserve Portfolio is an exciting acquisition for several reasons. Both properties are well-located in desirable submarkets of Memphis with strong school districts. Memphis is an integral part of the national logistics network, and these properties offer convenient access to some of the area’s largest employers – Southwind is mere blocks from the FedEx World Headquarters. The Bartlett asset plays a key role in providing upscale living at a manageable price point, given the rental housing supply constraints in that community,” said Mike Slinde, AVP of private equity for MLG Capital. “These acquisitions reflect MLG’s goal to expand our direct acquisition platform into the Southeast, a strategy to target a variety of income-producing multifamily properties that provide diversification for our Funds.”
MLG Capital has been acquiring assets since 1987. Since 2012, the firm has operated under a fund strategy, providing investors the opportunity to participate in portfolios of assets rather than individual deals. MLG’s residential property acquisitions focus on geographic, asset class and asset type diversification. The firm opened its most recent fund – MLG Private Fund VI – in May 2022 with an equity raise goal of $400 million.
Preserve at Southwind and Preserve at Bartlett are the second and third property investments by MLG Capital in Memphis, Tennessee, bringing MLG’s historically-owned number of units in the state to more than 1,300 total units.
Key features of the Preserve at Bartlett include:
- Gated access
- One- and two-car attached garages
- Car care center
- Dog park
- Movie theater
- Playground
- Outdoor swimming pool
- Key features of the Preserve at Southwind include:
- One- and two-car attached garages
- Dog park
- Fitness center
- Outdoor kitchen
- Outdoor swimming pool
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 ±36.1 million square feet of total space across the United States, inclusive of more than 31,100 apartment units, with exited and estimated current value exceeding $5.1 billion, as of 6/30/22. For more information about MLG Capital and its investments, visit the firm’s newsroom.
For more information, contact:
Katie Whitlock, Public Relations
Laughlin Constable
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 6/30/2022. Value consists of disposed of assets as well as the current internal valuation of currently held assets as of 6/30/2022. Values may not have been reviewed by an independent 3rd party and may be internal projections.
