The $350MM private real estate investment fund closes to new investors; Firm set to launch 6th Private Fund in early May
Milestones take place amid MLG's 35th anniversary year celebrations and new brand refresh
BROOKFIELD, WI / ACCESSWIRE / April 6, 2022 / MLG Capital today announced it has closed its largest investment fund to date, MLG Private Fund V LLC, which exceeded its original $300MM equity raise goal, capping off at $350MM total. The fund, which is the fifth in a series of private real estate investment funds, was also the firm's fastest equity raise to date, finishing fifteen months ahead of schedule.
"Fund V exceeded our expectations in both the amount and speed of the equity raised. We consider this achievement a true testament to the trust our investor family has in us, and it fuels our ongoing commitment to them," said Timothy Wallen, CEO of MLG Capital. "The outlook for private equity real estate investing remains strong in today's market environment and we are excited to continue to transact on smart deals that provide value to our investment partners outside of the public markets."
Launched in January 2021, acquisitions and pending acquisitions in Fund V are currently diversified into more than 7 million total commercial square feet of property, inclusive of +6,700 multi-family units. The Fund's investments span 14 states by way of 27 deals, adding to the MLG Capital portfolio of real estate investments across the country.
MLG is planning to launch and begin accepting new investments into its next fund in early May. The next fund, it's 6th consecutive, will likely continue the firm's focus on geographic, asset class and asset type diversification for investors. For each of its private real estate funds, MLG targets 25 to 30+ investments located in markets and locations where the company can grow the operating income of the property. The firm focuses on investing in 'smart deals' rather than setting a specific allocation to any asset class or geography diversification. It will continue to target tax-efficient income to investors via cash-on-cash distributions and appreciation over time.
"These key milestones are being reached as we mark our 35th anniversary, making it an especially exciting time," said Wallen. "It is amazing what we have been able to accomplish as an organization, how much our team has grown and the level of impact that we've been able to have for our investors and for the community. As we look ahead to the future, we are energized to continue producing strong results and to innovate in our industry."
Amid its 35th anniversary in 2022, the firm is refreshing its brand image, including a new logo and a full website redesign. The new look and feel will embody MLG as a company and its plans for the future. The company anticipates to fully launch the rebrand over the summer of 2022.
"When we look back at MLG over the past 35 years, we've been purposeful in ensuring our decisions are driven by the two values we strive for: absolute integrity and making a difference while making a living," said David Binder, Vice President of MLG Capital. "We want our branding to be a modern representation of those values and an opportunity to further engage with the marketplace."
MLG has been acquiring assets since 1987. The first in the series of diversified funds launched in 2012, providing investors an opportunity to participate in portfolios of assets vs individual deals. Since then, the company has acquired over ±35 million square feet in total commercial property including over 30,000 multifamily units. Under its current growth strategy, MLG Capital aims to open a new fund offering every two years.
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 ±35 million square feet of total space across the United States, inclusive of more than 30,000 apartment units, with exited and estimated current value exceeding $4.7 billion, as of 3/31/2021. 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 3/31/2022. Value consists of disposed of assets as well as the current internal valuation of currently held assets as of 3/31/2022. Values may not have been reviewed by an independent 3rd party and may be internal projections.
SOURCE: MLG Capital
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https://www.accesswire.com/696412/MLG-Capitals-Private-Fund-V-Sets-Record-as-Fastest-and-Largest-Fundraise-in-Firms-History
