Multifamily property in booming Frisco is MLG's 54th acquisition in Texas
DALLAS, TX / ACCESSWIRE / July 18, 2024 / MLG Capital - a national leader in private real estate investments - today announced its acquisition of the recently constructed and newly named The Jade at Frisco apartment development, located at 16220 Phoebe Road in Frisco, Texas. The 424-unit, Class A community was completed in 2023 and supports housing demand in the booming city outside of Dallas.
The garden style apartment community features resort-quality amenities, including a pool, sundeck and cabanas, game room, fitness and yoga facilities, EV stations and high-end interior finishes.
The population of Frisco grew by 6 percent in 2023, and it was recently named the fastest rising city in the U.S. by FinanceBuzz. It also ranks in the top five cities in both safety and affordability according to SmartAsset Advisors.
"We are thrilled to add another Class A suburban garden style apartment complex to our portfolio and to increase our owner-operator footprint in North Texas," said Ryan Mueller, Senior Vice President at MLG Capital. "Frisco has been a magnet for job growth and corporate relocations nationally. Voted one of the safest cities in America, families continue to move into the area, and we are pleased to offer premier housing options here through The Jade at Frisco."
The complex is within 10 miles of large employers JPMorgan Chase, CapitalOne and Bank of America and within a 30-minute drive of more than 1 million employees, according to Frisco Economic Development Corporation. Other recent investments in Frisco include the new Universal Studios theme park and the $1.5 billion, multi-use The Star in Frisco development that is home to the Dallas Cowboys World HQ. The Jade at Frisco is also adjacent to Craig Ranch, a 400-acre master-planned community featuring the five-star TPC Craig Ranch golf course.
According to Mueller, DFW continues to be one of the most robust communities in America, accounting for 25 percent of the Texas population and ranking No. 1 in the U.S. for both five-year job growth projections and year-over-year job growth. It is also home to 24 Fortune 500 headquarters companies and was recently announced as the chosen location for relocations or expansions by Amazon, Dollar General, Google and McAfee.
"The current vitality and expected growth of Frisco proper and the broader DFW market makes this a smart and exciting investment for our investors, and we hope to exceed our targeted returns," said Mueller.
The Jade marks the firm's 54th acquisition in Texas since inception.
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About MLG Capital
MLG Capital is a sponsor of private real estate funds targeting investment from investment advisors, family offices, and accredited individuals. 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 6/30/2024. Value consists of disposed of assets as well as the current internal valuation of currently held assets as of 6/30/2024. Values may not have been reviewed by an independent 3rd party and may be internal projections.
For more information, contact:
Katie Whitlock, Public Relations
Laughlin Constable
kwhitlock@laughlin.com
414-305-5927
SOURCE: MLG Capital
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