DALLAS, TX – Southern Properties Capital, a subsidiary of Dallas-based real estate investment company Transcontinental Realty Investors, Inc, is announced a joint venture agreement with a wholly owned subsidiary of Macquarie Group Limited.

The joint venture, Victory Abode Apartments d/b/a Abode Properties Services, currently holds 10,133 units across 11 states with 3 assets currently under construction, formed with TCI and Southern Properties Capital contributing the portfolio of more than 50 multifamily assets together with a substantial equity investment by Macquarie.

The joint venture’s primary focus is to make a business platform that will allow dramatic expansion in the multi-family arena. The intent is to increase the overall size of the portfolio over the next several years, through strategic buildout of its robust development pipeline alongside opportunistic acquisitions. The company remains highly focused in its core Southeast and Southwest US geographic areas.

Victory Abode Apartments (VAA) is one of the largest multi-family operating companies in the country. VAA is immediately poised to address existing and future demand for quality multifamily residential housing through acquisition and development of sustainable Class A multifamily housing in focused secondary and tertiary markets. VAA’s strong equity position is balanced through the use of fixed-rate, long-term HUD mortgage debt, commercial mortgages, and the use of various conventional construction lenders. The company will be principally operated by a dedicated and highly professional management team with decades of industry experience, with strategic support from the venture partner.

“This transaction falls right in line with our strategic vision,” stated Daniel Moos, CEO and President of Transcontinental Realty Investors/Southern Properties Capital, and CEO of Victory Abode Apartments. “This new collaboration with Macquarie, in addition to our Series A and B Bond Raisings on the Tel Aviv Stock Exchange, makes additional financial strength to an already thriving organization.”

“We are excited to partner with TCI / Southern Properties on the acquisition of this portfolio of predominantly workforce housing, with opportunities for expansion in attractive, pro-business markets,” said Jackie Hamilton, Senior Managing Director at Macquarie Principal Finance.

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LA JOLLA, CA – Reven Housing REIT, an owner and operator of single-family residential properties, announced that it has successfully closed on the acquisition of 23 single-family homes in Memphis, Tennessee metropolitan area on December 6, 2018.

The contract buy price for the portfolio was approximately $1,516,100, exclusive of closing costs. The Company funded the buy with proceeds from the Freddie Mac loan the Company entered into on October 1, 2018.

Chad Carpenter, Chief Executive Officer of Reven Housing, added, “We are pleased to announce the addition of 23 homes to our holdings in the greater Memphis market; this incremental investment makes Memphis our fourth largest operating market with a total 143 single family homes. Continued job creation and low unemployment make Memphis an ideal market for Reven. Our strategy is focused on identifying thriving primary markets in the south and Memphis’ fundamentals exemplify the types of markets where we believe we can add value. We anticipate that this portfolio will contribute accretively to our overall NOI growth as the homes are refurbished and integrated onto our operating platform.”

Reven Housing REIT engages in the acquisition and ownership of portfolios of occupied single-family rental properties in the United States. Reven currently owns and operates 849 single-family rental properties in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.

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RICHFIELD, MN – MLG Capital, the premier outsourced investment manager in private real estate for Investment Advisors, Family Offices and High Net Worth Individuals since 1987, announced the sale of Concierge, (formerly Crossroads at Penn), a 698-unit multi-family apartment complex located in Richfield, Minnesota.  Concierge is the third largest market rate apartment community within the Minneapolis-St. Paul market. The asset was owned, managed and operated by entities related to MLG Capital and Soderberg Apartment Specialists.

“We made a significant commitment to re-energize Concierge over the last three years of ownership, performing a major renovation which fully updated all 698 units. We also focused on adding a superior amenity package including a state of the art fitness center, theater, golf simulator, dog park, rock climbing wall, convenience store and new leasing office at the property,” said Andrew Bruce, Executive Vice President and Principal at MLG Capital.

“Not only did this investment re-energize the community in which it is located, our family of investors realized phenomenal overall returns. MLG generally seeks to exit investments after improving and/or stabilizing assets so that we can continue our pursuit of new value-added investment opportunities from our deep nationwide sourcing network,” said Bruce. “Our competitive advantage is proprietary deal flow and we are actively seeking similar opportunities.”

Concierge benefits from a fantastic location on the border of Edina, Bloomington, and Richfield with exceptional access via Interstate 494 and is near the Minneapolis–St. Paul airport, the Mall of America, and large regional employers such as Toro and Best Buy. Concierge provides its tenants with convenient linkages to downtown Minneapolis, major employment centers, and an abundance of shopping.

MLG Capital is currently raising its fourth private real estate investment fund, MLG Private Fund IV LLC, a targeted $200 Million equity fund that is accepting new accredited investors through March 31, 2021. The series of MLG Private Funds were formed to buy, directly or indirectly, a geographically diverse portfolio of commercial real estate, primarily consisting of commercial multifamily properties, industrial, retail, office, and other opportunistic opportunities located in strategically identified areas throughout the United States. MLG Private Fund IV launched in October 2018.

Since the inception of MLG Capital in 1987, the firm, and entities associated, have had active, exited, or pending investments totaling approximately 18 million square feet of total space across the United States, inclusive of more than 12,900 apartment units, with exited and estimated current value exceeding $1.6 billion.

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