Multifamily property is MLG's 3rd acquisition in Kansas City MSA
BROOKFIELD, WI / ACCESSWIRE / August 15, 2024 / MLG Capital - a national leader in private real estate investments - today announced its acquisition of Silverwood Apartments, located at 5100 Foxridge Drive in Mission, Kan.
The 280-unit property was built in 1986 and features ample community amenities, including a swimming pool, fitness center, clubhouse, picnic area and more. Approximately 80 percent of units have been recently renovated, and MLG plans to renovate and modernize the remaining units. The firm plans to install in-unit washers and dryers in all 280 apartment homes.
MLG believes Silverwood Apartments is well-located in a strong school district and desirable submarket just 7 miles from downtown Kansas City. Apartment rents in Mission have grown 4 percent the past 12 months, compared to the nationwide average of 0.5 percent.
"Silverwood Apartments is a well-located property in a strong Midwestern market. We think the property has a ton of potential and are excited to make it part of our portfolio," said Nathan Clayberg, vice president at MLG Capital. "Our strategic approach and strong partnerships enabled us to source this deal off-market at an attractive basis. We look forward to executing on this deal and making money for our investors."
MLG is partnering with Parkwest Real Estate on execution of its business plan at the property. Silverwood is MLG's 3rd acquisition in the Kansas City MSA and brings MLG's total number of units owned in Kansas to 913.
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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 3/31/2024. Value consists of disposed of assets as well as the current internal valuation of currently held assets as of 3/31/2024. 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
View the original press release on accesswire.com
