Brookfield, Wis. (October 18, 2022) – MLG Capital today announced it completed 12 acquisitions in Q3 2022. The acquisitions consisted of one office asset and seven multifamily assets. The properties are located in Colorado, Illinois, Minnesota, Tennessee, Virginia and Wisconsin. The acquisitions add more than 1,550 units and nearly 1.6 million square feet to MLG’s portfolio that currently spans 18 states. With the closing of these recent deals, MLG has had active, exited or pending investments totaling approximately 39.1 million square feet of total space across the U.S., with exited and estimated current value exceeding $5.6 billion.
“2022 continues to be a strong year for MLG, and we are pleased with the ongoing momentum thanks to our team’s hard work and dedication amid a competitive market,” said Assistant Vice President, Lindsey Collings. “These latest acquisitions span across three of our real estate investment funds, including our unique Legacy Fund solution. All of these acquisitions are part of our ‘smart deal’ strategy that targets diverse, income-producing properties that can produce the best returns for our investors.”
Acquisitions were made via MLG’s Private Fund V and Private Fund VI, as well as its Legacy Fund, a unique, tax-efficient divesting solution for owners of appreciated real estate assets.
The recently acquired multifamily properties include:
Preserve at Bartlett (8840 Bristol Park Dr, Bartlett, Tenn.) – a 300-unit property located in a desirable submarket of Memphis with strong school districts and convenient access to top employers.
Preserve at Southwind (7991 Capilano Dr, Memphis, Tenn.) – a well-located 306-unit property with attractive amenities, including attached garages, a dog park, outdoor pool and kitchen, and more.
A 112-unit building in Durango, Colo. that has seen dramatic population growth in recent years. MLG plans to invest in interior and exterior upgrades to the property as well as added amenities.
A 465-unit apartment community in the Virginia Beach MSA. This property features a swimming pool, business center, clubhouse and more.
The new multifamily properties acquired bring MLG’s owned number of units to approximately 112 in Colorado, 278 in Illinois, 606 in Tennessee, 905 in Virginia and 2,313 in Wisconsin.
MLG Capital has been acquiring assets since 1987. Since 2012, the firm has operated under multiple fund strategies, providing investors the opportunity to participate in portfolios of assets rather than individual deals. MLG’s property acquisitions focus on geographic, asset class and asset type diversification. The firm opened its MLG Private Fund VI in May 2022 with an equity raise goal of $400 million.
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 ±39.1 million square feet of total space across the United States, inclusive of more than 33,900 apartment units, with exited and estimated current value exceeding $5.6 billion, as of 9/30/22. For more information about MLG Capital and its investments, visit the firm’s newsroom.
For more information, contact:
Katie Whitlock, Public Relations
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.