Springs at Alamo Ranch becomes firm's 29th multifamily asset in Texas
BROOKFIELD, WI / ACCESSWIRE / February 16, 2023 / MLG Capital - a national leader in diversified private real estate investments - today announced its acquisition of Springs at Alamo Ranch, located at 11211 Westwood Loop in San Antonio. The Class A, 227,000 sq. ft. multifamily property features 232 luxury studio, one-, two- and three-bedroom apartments with attractive amenities. The property will be rebranded to Reata Alamo Ranch.
"We are excited about this acquisition, which is located in a desirable area with high population growth and close proximity to some of the city's largest employers," said David Rodriguez, Assistant Vice President of MLG Capital. "With a low cost of living, strong job growth and a high quality of life, the San Antonio market continues to rank among the fastest growing cities in the country. We expect that trend to continue in the next five years and are pleased to expand our footprint in the area."
According to Costar, San Antonio ranked as the #2 city for white-collar job growth since the start of the pandemic, and the five-year population growth is projected at more than 13%. Similarly, the Bureau of Labor Statistics projects San Antonio to add an additional 170,000 new residents over the next five years as the Alamo City continues to experience strong economic growth in industries like healthcare, bioscience, aerospace, IT, cybersecurity and more. The Springs at Alamo Ranch property is located within three miles of major area employers, including Microsoft, Aetna, QVC, Wells Fargo, JPMorgan Chase and CHRISTUS Santa Rosa Hospital.
MLG Capital has been acquiring assets since 1987. Since 2012, the firm has operated under a fund strategy, 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 most recent fund - MLG Private Fund VI - in May 2022 with an equity raise goal of $400 million. The Springs at Alamo Ranch will be the 10th acquisition within Fund VI.
Springs at Alamo Ranch is MLG Capital's fourth investment in the San Antonio MSA, bringing MLG's active or sold multifamily units in Texas to more than 13,710.
Key features of Springs at Alamo Ranch include:
- Townhome-style design
- Private balconies
- Resort-style swimming pool
- Fitness center
- Attached garages and on-site car care center
- Gated entrance
- Pet playground and spa
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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 ±40.8 million square feet of total space across the United States, inclusive of more than 34,600 apartment units, with exited and estimated current value exceeding $5.8 billion, as of 12/31/22. For more information about MLG Capital and its investments, visit the firm's newsroom.
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 12/31/2022. Value consists of disposed of assets as well as the current internal valuation of currently held assets as of 12/31/2022. Values may not have been reviewed by an independent 3rd party and may be internal projections.
For more information, contact:
Katie Whitlock
Laughlin Constable Public Relations
kwhitlock@laughlin.com
414-305-5927
SOURCE: MLG Capital
View source version on accesswire.com:https://www.accesswire.com/739719/MLG-Capital-Purchases-Class-A-Apartment-Property-in-San-Antonio
