Brookfield, Wis. (August 23, 2022) – MLG Capital today announced its acquisition of two multifamily properties in the Memphis area – Preserve at Southwind (7991 Capilano Drive in Memphis) and Preserve at Bartlett (8840 Bristol Park Drive in Bartlett). The properties total 306 and 300 units respectively and both feature a range of one-, two- and three-bedroom floor plans with attractive amenities.
“We are excited about these acquisitions for several reasons. Each property is well-located in desirable submarkets of Memphis with strong school districts. The Memphis area is also showing signs of accelerating employment, and these properties offer convenient access to some of the area’s largest employers. The Bartlett property in particular is a key asset given the rental housing supply constraints in that community,” said Mike Slinde, AVP of private equity for MLG Capital. “These acquisitions reflect MLG’s ‘smart deal’ strategy to target a variety of income-producing multifamily properties that provide diversification for our Funds.”
MLG Capital has been acquiring assets since 1987. Since 2012, the firm has operated under a fund strategy, providing investors the opportunity to participate in portfolios of assets rather than individual deals. MLG’s residential property acquisitions focus on geographic, asset class and asset type diversification. The firm opened its most recent fund – MLG Private Fund VI – in May 2022 with an equity raise goal of $400 million.
Preserve at Southwind and Preserve at Bartlett are the second and third property investments by MLG Capital in Memphis, Tennessee, bringing MLG’s historically-owned number of units in the state to more than 1,300 total units.
Key features of the Preserve at Bartlett include:
· Gated access
· One- and two-car attached garages
· Car care center
· Dog park
· Movie theater
· Playground
· Outdoor swimming pool
Key features of the Preserve at Southwind include:
· One- and two-car attached garages
· Dog park
· Fitness center
· Outdoor kitchen
· Outdoor swimming pool
