May 22, 2024
MLG Capital opens Denver-area office after $51M apartments purchase
MLG Capital said it has established an office in the Denver area after acquiring an apartment complex in Denver’s East Colfax neighborhood earlier this month for $51.05 million. Read the full article from the Milwaukee Business Journal.
March 27, 2024
Wisconsin firm pays $51.1M for Denver apartments
The Lowry North apartments at 8001 E. 11th Ave. sold to MLG Capital, a Wisconsin-based real estate investment firm. Mitch Faccio, senior vice president at MLG Capital, said in a statement that the apartment complex is “in a prime neighborhood with great access to major entertainment districts.” Read the full article from the Denver Business Journal.
March 21, 2024
MLG Capital Pays $51M for Denver Asset
MLG Capital has acquired Lowry North, a 192-unit community in Denver, for $51 million. The 2002-completed community consists of five three-story buildings, with one-, two- and three-bedroom floorplans. Units range between 702 and 1,200 square feet and feature private balconies or patios. Read the full article from Multi-Housing News.
December 21, 2023
MLG Capital Purchases Meadows at River Run Multifamily Property in Bolingbrook
Apartment property features quality amenities in a desirable suburban Chicago setting Brookfield, Wis. (December 21, 2023) – MLG Capital – a national leader in diversified private real estate investments – today announced its acquisition of the Meadows at River Run multifamily property, located at 350 Whitewater Drive in Bolingbrook, IL. The apartment property was built in 2001 and features 374 apartment units, high-quality amenities and a suburban location with well-rated school districts and a robust labor market. “We are excited about the acquisition of Meadows at River Run,” said Daniel Price, Senior Vice President at MLG Capital. “We think this is a great property that is very well positioned in the marketplace. Meadows at River Run marks our 18th and final acquisition of 2023, a year in which MLG Capital has remained very active despite overall transaction activity being down significantly.” Meadows at River Run is on a major thoroughfare that provides convenient freeway access and great drive-by visibility. Both to the East and West are strong retail corridors, and the surrounding area has numerous employers and community amenities. The property itself features large, functional units, all with patios/balconies. Select units have stainless appliances, vaulted ceilings and/or attached garages. There...
November 30, 2023
Core Market Series: Florida
As one of MLG Capital’s home markets, the state of Florida has been an investment target for the duration of our firm’s 36+ years of existence. Since acquiring our first asset in the state decades ago and building out a portfolio over time, we continue to actively seek unique deals where we can capitalize on believable and achievable assumptions, as well as the numerous positive market dynamics in many areas of the state. MLG currently has a satellite office located in downtown Sarasota, FL. With multiple attractive major metros and many desirable submarkets in the Sunshine State, MLG has owned unique assets across six metropolitan areas. These assets encompass over 4,500 multifamily units and almost 5 million total square feet (as of 11/15/2023). MLG’s current portfolio includes nine multifamily properties across the state, with the highest concentration of units in the Orlando and Tampa metros. Five of the properties are managed by Valiant Residential, MLG’s subsidiary management company, who manages over 35,000 units, primarily across the Sunbelt (as of 11/15/2023). Florida has many elements that make the state conducive to successful real estate investment. While each deal must be examined on a granular, submarket-by-submarket level, broadly speaking, Florida benefits from:...
October 27, 2023
MLG Capital Closes Three Milwaukee-Area Multifamily Property Deals in October
Brookfield, Wis. (October 27, 2023) – MLG Capital – a national leader in diversified private real estate investments – today announced it has closed on the acquisitions of three Milwaukee-area multifamily properties – Trostel Square, Norhardt Crossing and Norhardt Apartments. “MLG Capital is thrilled to announce these recent acquisitions near our headquarters. We are excited to make a sizeable investment in the Milwaukee area as we know first-hand its desirability to live in and continue to see the area draw key employers and attractions,” said Daniel Price, Senior Vice President of MLG Capital. “With the economic growth of the area and the strong locations of these properties, we expect these acquisitions to perform very well.” Trostel Square (1818 N. Commerce St, Milwaukee, WI) is a 99-unit, mid-rise multifamily property featuring one- and two-bedroom units with attractive in-unit and community amenities. Key features of the property include private balconies, expansive floorplans, an underground parking garage, detached clubhouse and direct access to Milwaukee’s River Walk. The property is located in Brewers Hill, an established and desirable neighborhood of Milwaukee with convenient access to many of the city’s major employers and attractions in and near downtown. Norhardt Crossing (1930 Norhardt Dr, Brookfield, WI) and Norhardt Apartments...
October 3, 2023
Smart Investing: Preferred Qualities in Multifamily Acquisitions
When considering a potential multifamily acquisition, there are a number of factors to consider. Where is the property located? What school district is it in? When was the property built? These are just a few questions to consider when determining whether a property might be a good investment. Before looking at the specific attributes and factors we review when evaluating a multifamily property, it’s important that we consider the fundamental goals of our multifamily investments: to maintain and grow net operating income that will, in turn, produce stable cash-flow during ownership and maximize the property value upon sale — all with the lowest possible risk profile and in the most tax-efficient manner. The following, and all attributes we review, are considered with that goal in mind: Cost Basis, Potential for New Supply When looking at a potential multifamily acquisition, you’ll often hear the phrase ‘price per unit’ mentioned. While the total number of units is relevant, it’s more important to consider the price you’re paying or selling each individual unit for. At MLG, we are a ‘basis conscious’ firm, meaning that we pay significant attention to price per unit (or per square foot). We compare these values to recent sales...
July 28, 2023
MLG Capital Purchases Market Square Multifamily Property in Kenosha
Class A Apartment property features high-quality amenities and a convenient location in a market with high demand for multifamily housing Brookfield, Wis. (July 28, 2023) – MLG Capital – a national leader in diversified private real estate investments – today announced its acquisition of the Market Square apartment property, located at 3100 Market Lane in Kenosha. The Class-A apartment property was built in 2017 and 2019 and features 330 apartment units, robust amenities and a convenient location near high-quality retail in a key industrial corridor. MLG acquired an interest in the property with its growing Legacy Fund, which offers a tax-deferred exit strategy for private real estate owners. “This is an exciting acquisition in a market with significant commercial development and convenient access to both Milwaukee and Chicago,” said Daniel Price, senior vice president at MLG Capital. “MLG expects to see continued industrial development and job growth in this corridor that will drive strong tenant demand over the next several years.” According to CoStar, the Kenosha industrial market has had over 11 million square feet of industrial projects delivered in the past two years, with another 6 million planned or under construction. Local reports cite a strong need for additional...
June 14, 2023
Core Markets Series: Dallas-Fort Worth
MLG Capital’s direct acquisition strategy for multifamily real estate focuses on our core markets throughout the Midwest and Sunbelt regions. In our TX operations, our current portfolio includes 8,900 total apartment units across 3 MSA’s (as of 6/5/2023) – Dallas-Fort Worth, Houston, and San Antonio. A primary target for our direct acquisition strategy has been the Dallas-Fort Worth metroplex, dating back to 1988 when MLG first acquired in this market. MLG’s current portfolio includes 12 multifamily properties located in the Dallas-Fort Worth region, totaling over 3,700 apartment units. Each one of these properties is managed by Valiant Residential, our subsidiary management company that is based out of Dallas who manages over 19,000 units (as of 6/5/2023) in the Dallas-Fort Worth market and shares an office with MLG’s Dallas team. Real estate in this area has thrived due to its diverse economy, robust population growth, and geographical advantage. Due to these factors, we believe this market will continue to flourish for years to come. Highly Active Transaction Market Dallas-Fort Worth has established itself as a powerhouse in the multifamily sector of the real estate world, achieving remarkable transaction volume and sales figures. According to a report by Multi-Housing News, the Dallas-Fort...
May 15, 2023
MLG Capital Purchases Hampshire Technology Center in Minnesota
Class B flex property will be renovated to create a desirable office and warehouse mix to support the Minneapolis DMA’s strong job market and growing labor force Brookfield, Wis. (May 15, 2023) – MLG Capital – a national leader in diversified private real estate investments – today announced its acquisition of Hampshire Technology Center, located at 10900 Hampshire Ave S in Bloomington, Minn. The 14+ acre Class B flex-industrial property features more than 144,000 square feet and over 680 parking spaces. MLG acquired the property in partnership with Hoyt Properties, its sixth such project with the firm, and plans to make interior renovations to maximize the space and create a more desirable office/warehouse mix. “This is an exciting acquisition for us, located in a desirable submarket that MLG has executed on several successful investments,” said Nathan Clayberg, vice president at MLG Capital. “Given the tight occupancy in the market and our partner, Hoyt Properties, leasing capability, we are confident that we will be able to get this building leased and create value for all involved.” According to the Bureau of Labor Statistics, Minneapolis is ranked in the top 10 best job markets in the U.S. Its labor force has grown...
