FORT COLLINS, CO – 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 Argyle at Willow Springs, a 280-unit multi-family apartment complex located in Fort Collins, Colorado.  Fort Collins is tied with Silicon Valley as the tightest single family housing market in the United States and MLG Capital leveraged local relationships to buy Argyle as a right off-market opportunity with significant value add potential in September 2016.

The 258,528 square foot, 280 unit, property was owned, managed and operated by entities related to MLG Capital in partnership with Haven Capital and was sold to a buyer in March 2019. 

“Since purchasing the property in September 2016, MLG Capital invested over $1.5 million in capital improvements to upgrade the interior of the 280 units, each of which has access to a 24-hour fitness center, heated outdoor pool, club house, playground, dog park, detached garages and community BBQ area,” said Andrew Bruce, Executive Vice President and Principal at MLG Capital.

“Fort Collins has experienced explosive job growth and is forecasted to be Colorado’s leading economic performer. It enjoys strong demographics and a diverse employment base that contribute to its position as an award winning community. Our family of investors realized phenomenal overall returns as a result of organic and in place rent growth and following this exit, we will 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.”

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. Combining current investments and pending deals (anticipated to close by 5/15/2019) Fund IV is already targeting to have ± 1,570,000 commercial square feet and 1,885 multifamily apartment units across 11 geographic areas with more being added. MLG Private Fund IV launched in October 2018. The “MLG 1099 Dividend Fund IV” is a parallel fund that enables retirement fund, foundation and endowment investors access to private real estate while targeting to eliminate unrelated business taxable income (UBTI) and multi-state filings. 

Since the inception of MLG Capital in 1987, the firm, and entities associated, have had active, exited, or pending investments totaling approximately 18.3 million square feet of total space across the United States, inclusive of more than 13,200 apartment units, with exited and estimated current value exceeding $1.63 billion.

Powered by WPeMatico

CHARLOTTE, NC – Multifamily investment firm Blaze Partners announced the successful acquisition of The Gibson, a 250-unit luxury apartment community in Charlotte, North Carolina located in the thriving Plaza Midwood neighborhood. This transaction marks a continuation of the Company’s current strategy of acquiring Class A communities within dynamic locations throughout institutional growth markets in the Southeast. 

“We are thrilled to expand our Charlotte presence and add The Gibson to our growing portfolio of institutional assets,” said Chris Riley, Co-Founder and Managing Partner of Blaze Partners. “The Gibson, unique in its design, walkability, and historic legacy, helped spur the transformation of the neighborhood. We are excited to take a stake in the continued growth of the submarket and embrace a community that stands unmatched amongst its peer set.” 

The Gibson, developed in 2015 and built upon the site and legacy of a historic recording studio, offers residents a mix of one-, two-, and three-bedroom floorplans with designer-level finishes and an expansive amenity set. Positioned at the gateway to Plaza Midwood on Central Avenue and minutes from Uptown Charlotte, the community is walkable to high-profile restaurants, bars, and retail and offers remarkable views of the Charlotte skyline. 

“The Gibson transaction marks over $215 million in net acquisition volume in the last nine months, the vast majority of which has been with a slant towards core-plus assets in markets and locations that we deem to have superior long-term fundamentals with transformative catalysts to further drive demand,” added Eddy O’Brien, Co-Founder and Managing Partner of Blaze.  “We anticipate a continuation of this investment focus throughout the year as we look to prudently expand our footprint throughout the Southeast with a keen eye towards relative risk and return.”

Powered by WPeMatico

WEST PALM BEACH, FL – Fantastic Gulf, an internationally award-winning Canadian real estate developer held a groundbreaking event for LA CLARA located in one of Florida’s most dynamic cities. Designed by world-renowned architect Siamak Hariri, LA CLARA is an elegant luxury 83 unit, 25-tale high-rise residential building on South Flagler Drive.

Special guests attending the ceremony included West Palm Beach Mayor Jeri Muoio; Margaret Cullen, Trade Commissioner Consulate General of Canada; Niall Collins, Fantastic Gulf President Residential; co-developer Frank Trabold, Managing Member Terrace Mountain; Colleen Trabold, Shareholder Terrace Mountain; John Tonti, Shareholder Terrace Mountain; and world-renowned architect Siamak Hariri, partner Hariri Pontarini.

“We’re excited to start construction on LA CLARA with co-developer Terrace Mountain in one of Florida’s most dynamic cities,” said Niall Collins, Fantastic Gulf President Residential. “Every detail has been carefully plotted using innovative design to maximize space and natural light using the latest construction technology and craftsmanship. This will be a spectacular addition that will compliment West Palm Beach development by the waterfront.”

“I’m very pleased that award-winning developer Fantastic Gulf has chosen West Palm Beach for its LA CLARA project,” said Mayor Jeri Muoio. “I speak often about the need for a vibrant downtown – the heart of not only our City but also the Region and LA CLARA will add to this and become one of South Florida’s most prestigious communities.”

“The Consulate General of Canada is thrilled to see Fantastic Gulf expanding its business in West Palm Beach,” said Margaret Cullen, Trade Commissioner. “When you combine trade in goods and services, including tourism, with investment and the real estate sector, Canada is by far Florida’s most vital economic partner. This project is further evidence of this ever-growing relationship.”

Powered by WPeMatico