Firm executes smart deal strategy; successfully sells prime Fort Worth property, elevating investor returns
DALLAS, TX / ACCESSWIRE / March 8, 2024 / MLG Capital today announced that it has sold Copperfield Apartments, a 323-unit multifamily property located at 6051 S Hulen St. in Fort Worth, Texas. The sale closed on March 7 to an undisclosed buyer. The disposition of the property is part of MLG's deal strategy to buy and sell real estate investments with a core focus on growing operating income and/or reducing operating expenses to maximize return to investors.
MLG Capital purchased the Class B multifamily property in 2019 as part of MLG's series of MLG Private Funds. At acquisition, Copperfield Apartments, which has a prime location in Southwest Fort Worth, offered significant value-add opportunity through interior and exterior renovations. MLG Capital renovated over 100 apartment units and made various common area improvements in its 5-year hold, including renovating the clubhouse, updating the pool area and adding an outdoor firepit.
"We are excited to go full cycle on this investment. Over the past 5 years, we've executed our asset strategy which included a light value add of select interior units. We were able to improve operations, enhance the asset and amenity set, and offer quality apartments that our residents can be proud to call home," said Ryan Mueller, senior vice president at MLG Capital.
The series of MLG Private Funds target robust and tax-efficient cash on cash distributions and appreciation over time. MLG's fund strategy provides investors the opportunity to participate in a diversified portfolio of private real estate assets, rather than individual deals. The firm targets property acquisitions with a focus on geographic diversification across the United States. MLG Private Fund VI, is currently open for investment and has a targeted equity size of $400M and is set to close to new investors later in 2024.
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About MLG Capital
MLG Capital is a sponsor of private real estate funds targeting investment from investment advisors, family offices, high net worth 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 12/31/2023. Value consists of disposed of assets as well as the current internal valuation of currently held assets as of 12/31/2023. 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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