MLG Capital – a national leader in diversified private real estate investments – today announced its acquisition of the Market Square apartment property, located at 3100 Market Lane in Kenosha. The Class-A apartment property was built in 2017 and 2019 and features 330 apartment units, robust amenities and a convenient location near high-quality retail in a key industrial corridor. MLG acquired an interest in the property with its growing Legacy Fund, which offers a tax-deferred exit strategy for private real estate owners.
“This is an exciting acquisition in a market with significant commercial development and convenient access to both Milwaukee and Chicago,” said Daniel Price, senior vice president at MLG Capital. “MLG expects to see continued industrial development and job growth in this corridor that will drive strong tenant demand over the next several years.”
According to CoStar, the Kenosha industrial market has had over 11 million square feet of industrial projects delivered in the past two years, with another 6 million planned or under construction. Local reports cite a strong need for additional housing units in the county. Kenosha County is home to major employers, including Amazon, Uline, Snap-on and Haribo.
MLG Capital has been acquiring assets since 1987. Since 2012, the firm has operated under a fund strategy, diversifying investors across portfolios of assets, rather than individual deals. MLG’s acquisitions focus on geographic, asset class and asset type diversification.
Market Square is the firm’s first acquisition in Kenosha and brings MLG’s total number of units owned in Wisconsin to more than 3,300. It is the 64th property acquired as part of MLG’s Legacy Fund, which recently surpassed $1 billion in assets, marking a significant milestone for the first-of-its-kind solution.