MLG Capital Raises Largest Investment Fund in Fastest Timeline in Company History
“With a targeted equity raise goal of $200 million, ‘Fund IV’ exceeded expectations and was raised in the fastest timeline in MLG Capital’s over 33-year history,” said David Binder, Vice President at the firm. “This is a testament of trust from our investor family and deeply fuels our daily commitment to their investment success.”
Launched in October of 2018, Fund IV, will officially close upon achieving $250 million in equity, or in March of 2021, whichever comes first. The firm noted they anticipate achieving the $250 million mark by end of 2020.
The Fund is currently diversified into over 6,400 multi-family units and over 1.6 million commercial square feet across 12 states, building into the MLG Capital portfolio of real estate investments across the country.
“Overall, our fund’s private real estate portfolio does not move with the public liquid markets that have seen high volatility as of late. Our dedication to our core values, exceptional underwriting standards, historically tested objectives, focus smart real estate deals and use of low-to-moderate-leverage, all help us to execute consistently over time,” said Tim Wallen, Principal and CEO.
The firm will launch and begin accepting new investments into its next fund soon, continuing its growth strategy aimed at opening a new fund offering every two years or so. The next fund will continue MLG’s focus on geographic, asset class and asset type diversification for investors. For each of its funds, MLG Capital targets 20 to 25 investments located in markets with high growth potential. The funds target tax-efficient income to investors via robust cash-on-cash distributions and appreciation over time.
“We’re excited to preserve the integrity of our series of funds and to identify new areas of opportunities with our next fund. Our growth to-date is driven by our talented people, who work diligently to produce great results for our investors. I believe this growth will be sustained by maintaining our dual deal sourcing strategies, partnering with other real estate operators and leveraging our deep relationships within our historic local markets,” said Wallen.
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About MLG Capital
MLG Capital is a 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 24 million square feet of total space across the United States, inclusive of more than 19,300 apartment units, with exited and estimated current value exceeding $2.5 billion. MLG Capital targets to acquire between $400 and $500 million in commercial real estate annually; with approximately half of those acquisitions involving strategic partners.** For more information about MLG Capital and its investments, visit the firm’s news room.