Preparing for the company's "next generation" of leadership, Brookfield-based commercial real estate investment firm
MLG Capital has promoted two new executives and added owners, just as the company has closed on its biggest fund to date.
MLG named
Billy Fox as its president and
Daniel Price as its chief investment officer, the company announced Wednesday, both of which were previously senior vice presidents. The role of chief investment officer is new for the company.
Additionally, the firm added five principals, including Fox and Price, to bring its total roster of principals to 10.
Rick Reuter, controller, Ryan Mueller, senior vice president, and Mike Jagodinski, chief financial officer, were the others promoted.
“For nearly four decades, MLG has thrived because of our ability to be forward-thinking and strategic. While many CRE companies come and go, MLG has stood the test of time because of our ongoing commitment to planning for the future of both our business and our team members,” said Tim Wallen, principal and CEO at MLG Capital, in a press release. “MLG is built to last for generations as it’s structured to have talented people come into ownership, spend their career at MLG, retire and pass the opportunity to the next generation."
Fox has been with MLG Capital for 10 years and leads the firm’s Legacy Fund, which acquires and manages properties from older investors and distributes the profits they generate as returns to the contributors. That fund had surpassed $1.5 billion in assets as of the end of 2024, according to the release.
Price has 16 years of industry experience, including four with MLG Capital, and leads MLG's Midwest acquisition team.
MLG also announced Wednesday that it closed on approximately $384 million in equity for its sixth private real estate investment fund, which closed at the end of 2024 and is the company's largest to date.
Launched in 2022 with a goal of $400 million, the firm uses that equity to acquire apartment, industrial and commercial properties across the country.
MLG's fifth private real estate investment fund had raised $350 million, surpassing its $300 million goal.
Overall in 2024, MLG made more than $693 million in acquisitions encompassing 14 transactions across 11 states, which included over 3,300 new multifamily apartment units and over 385,000 total square feet of commercial property. The firm also opened its fourth office, in Denver.
“These milestones are a testament to our team's commitment to strategic, sustainable growth," Fox said. "As we look ahead, we remain focused on building on this momentum, exploring new opportunities, and further strengthening our position as a leader in private equity real estate investment."
