MLG Capital Closes One Fund, Launches Another
Fund III has diversified investments in more than 3,200 multi-family units and more than 2.2 million commercial square feet with locations across several states.
MILWAUKEE, WI—Locally-based MLG Capital reports it will close by the end of this month its targeted $100-million MLG Private Fund III and shortly thereafter will launch its new MLG Private Fund IV on Oct. 1.
“We’ve had overwhelming interest in Fund III. Originally, we targeted to raise $100 million of equity. We maintained the ability to raise up to $150 million of total equity. We think we will land somewhere in the $135- million to $140-million range proving our investors truly love what we are doing”, says David Binder, VP of MLG Capital.
Binder adds that Fund III has diversified investments in more than 3,200 multi-family units and more than 2.2 million commercial square feet with locations across several states.
Each of the MLG private funds acquires, directly or indirectly, a geographically diverse portfolio of commercial real estate primarily consisting of multifamily properties, industrial, retail, and office properties in several key U.S. markets. Since the inception of MLG Capital in 1987, the firm, and its associated entities, have had active, exited or pending investments of approximately 15.5 million square feet of total space across the United States, inclusive of more than 12,000 apartment units, with exited and estimated current value exceeding $1.5 billion.
“We target 13-15% net IRR returns to our investors from a combination of cash flow and appreciation over time and have consistently achieved these returns over our 31+ year history. We understand that our investors want a consistent return on their real estate investments without the hassle of management and we strive to operate as a family that each of our investors become part of as they invest with us,” says MLG Capital CEO and principal Timothy J. Wallen.