Brookfield, Wis. (October 4, 2021) MLG Capital today announced that it has raised more than $140 million in equity for its latest diversified Private Real Estate Fund, MLG Private Fund V, nearing one-half of the $300 million equity raise goal for the fund. Private Fund V opened to investors in January 2021 and allows investors to contribute through July of 2023, or upon reaching its equity raise goal, whichever is first. The fund launched on the heels of MLG’s most successful fundraise to-date, Private Fund IV, which raised $250 million and closed to new investors five months ahead of schedule.
Fund V has already acquired eight new properties since launch, totaling over 2,100,000 square feet of property and encompassing 1,990 multifamily apartment units across seven markets.
“We have a busy fall ahead of us,” said David Binder, VP of MLG Capital. “There are several new acquisitions that we’re targeting to close by year-end for Fund V, totaling over $250 million in transaction volume. We’ve continued to cast a wide net across the country and are finding the properties we are looking for. On top of deal flow, our family of investors, now spread across all 50 states, continues to trust us to do what we have been doing well for over 30 years.”
MLG plans to acquire 25-30 real estate assets as part of Fund V and will focus on investing in diverse deals with different geographic, asset class and asset types. The fund targets robust cash on cash distributions and appreciation over time, in an investor advantageous model with an overall target of 11-15 percent IRR to investors.
Currently, the firm is also expanding it’s Making a Difference (MAD) Initiative. This program allows both current and prospective investors to contribute a portion of their Private Fund V investment returns to a charitable organization. In past funds, MLG partnered with Lifesong for Orphans in this initiative and is excited to now work with four additional organizations specific to the local Milwaukee community. MLG will host an open house highlighting this program on Tuesday, October 12 at their Brookfield, Wis. Headquarters.
“One of our core principles here is to make a difference, while making a living,” said Tim Wallen, Principal and CEO of MLG Capital. “We created this unique opportunity for our investors to participate in a social impact strategy with us and truly help the greater community.”
In addition to the Private Fund V equity raise milestone, MLG also announced that it will soon surpass $1 billion in historically invested equity nationwide since its inception in 1987.
“This is an exciting milestone for our company to reach. For over three decades, we have worked hard to adapt our strategies, evolve in smart ways, and consistently perform among changing economies and markets. Even still, we’ve taken pride in staying true to our mission and commitment to our investors,” said Wallen. “Our firm has grown significantly over the years, and I’m proud of our team members, deal partners and investors for being such an essential part of that growth.”
About MLG Capital
MLG Capital is the premier outsourced investment manager in private real estate for investment advisors, family offices and accredited individuals. Since its inception in 1987, the firm and associated entities have had active, exited, or pending investments totaling approximately 27.5 million square feet of total space across the United States, inclusive of more than 22,700 apartment units, with exited and estimated current value exceeding $3.1 billion, as of 6/30/2021. MLG Capital targets to acquire $500+ million in commercial real estate annually; with approximately half of those acquisitions involving strategic partners. 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 6/30/2021. Values noted generally consist of disposed of assets, pending acquisitions as well as the current internal valuation of currently held assets as of 6/30/2021. Values may not have been reviewed by an independent 3rd party and may be internal projections.