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Residential

MLG Capital’s Multifamily Ownership Grows to Over 23,000 Units With Recent Acquisitions

 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.

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