BROOKFIELD, WI—Investment manager MLG Capital has acquired a Class B portfolio of ten multifamily assets containing 2,700-plus units. The portfolio is located across the Southwest Sunbelt region in Houston, Texas, Tulsa, Okla., and Oklahoma City. The price was not disclosed.
Diversified private equity real estate funds and a co-investment entity, all managed by MLG Capital, acquired the portfolio.
A subsidiary of MLG Capital, Valiant Residential, will operate and manage the portfolio.
MLG Capital is also raising capital and deploying it for its fourth private real estate fund, MLG Private “Fund IV”. The fund targets $200 million in total equity and is structured for investors seeking both rental income and dividend income.
Since 1987 MLG Capital has acquired, holds, or has sold over $2.2 billion of private commercial real estate across the US, consisting of over 22.3 million square feet including over 17,600 multi-family apartment units.
MLG was acquired by Newmark Group earlier this year.