Brookfield-based MLG Capital has raised $196,690,000 in equity through its latest diversified private real estate fund, MLG Private Fund V, according to a U.S. Securities and Exchange Commission filing.
The goal for the fund, which opened to investors in January 2021, was $300 million in equity.
“There are several acquisitions that we’re targeting to close by yearend for Fund V, totaling over $250 million in transaction volume,” said David Binder, vice president of MLG Capital, in a statement. “We’ve continued to cast a wide net across the country and are finding properties we are looking for.”
Fund V has already acquired eight new properties since launching, totaling over 2.1 million square feet of property and encompassing 1,990 multi-family apartment units across seven markets.
MLG plans to acquire 25 to 30 real estate assets as part of Fund V and will focus on investing in deals with different geographic, asset class and asset types.
MLG has been acquiring assets since 1987. The first in the series of diversified funds launched in 2012, providing investors an opportunity to participate in portfolio deals over individual ones.
Since that time, MLG has acquired more than 19 million square feet in commercial properties, including more than 15,000 multi-family units. The firm said it aims to open a new fund offering every two years.
