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MLG Capital is excited to pursue the acquisition of Trails at Creekside, a beautiful 444–unit, spectacularly-located garden style apartment complex. The asset is located in Allen, Texas, a “50-yard line” location for apartments, and where a large portion of the job and population growth is happening in Dallas, Texas Metroplex.
This property provides a unique blend of capital preservation, upside guided by MLG’s talented management team, and attractive returns. Recent sales in the current market place indicate that MLG is acquiring at an attractive basis, in some circumstances pricing may be similar to some Class B properties, on a per unit basis. MLG projects a 5 Year Average Cash-on-Cash at 7.9% and a net IRR of 14.0%, while utilizing low fixed rate debt at 4.25% interest rate at 62% LTC with a life insurance company. This is a high-quality asset that can capitalize upon new MLG affiliated professional management to grow the value.
MLG is making this offering available to RealCrowd investors. MLG projects to strategically grow the asset value. Furthermore, the asset is located in and near municipalities that have limited new zoning for apartments long term.
Available to Registered Users
Available to Accredited Investors:
The Trails at Creekside is located in the city of Allen, which is part of the northern suburbs of Dallas. Located in Collin County. The drive time to Downtown Dallas is 35 minutes, the drive time to Legacy West is 15 minutes, and the drive to CityLine is 20 minutes. The property is located near three major thoroughfares: SH-121 (aka Sam Rayburn Tollway) which runs east and west, I-75 which runs north and south and the North Dallas Tollway which runs north and south. These three arteries dominate the traffic flow in Allen and lead to the largest employment centers including – Legacy West, Legacy Business Park and the $5 Billion Mile master-planned mixed-use development. These three employment centers alone provide employment for an estimated 33,000 professionals, while continuing to draw global corporations such as Toyota (7,000 jobs), JPMorgan Chase (6,000 jobs), and Liberty Mutual Insurance (5,000 jobs) to the area. Other well-established firms continue to grow their Legacy presence, with businesses such as FedEx, which recently relocated 1,220 employees to Legacy, and Fannie Mae, which is consolidating its operations to Granite Park bringing an additional 1,000 employees. Also nearby, the new $1.5 billion CityLine development located at the intersection of President George Bush Turnpike and US-75 consists of 2.5 million square feet of office space, 935 varied residential units, over 231,600 square feet of retail anchored by Whole Foods with premium shopping and dining options, a 150-room signature Aloft Hotel, and two recreational parks. The area also has become a beacon for job growth, with State Farm’s new 1.5 million square foot regional headquarters in CityLine expected to add approximately 8,000 jobs to the immediate area while Raytheon is moving 1,700 employees from its Garland operations into a new Cityline campus.
Available to Accredited Investors:
Below are some of the most frequently asked questions about this offering.
The funding deadline for this opportunity is August 31st, 2018.
The first projected distribution is scheduled for January 2019
Distributions are scheduled to go out on a quarterly basis.
No, this offering is only available to US residents.
MLG in its proforma does not project to pay a debt pre-payment penalty fee if sold prior to the loan maturing or allowing the debt to paid without penalty. MLG projects a future buyer will either assume the loan at their cost or will consider paying a prepayment penalty if the best interest of the investment group at the Manager’s election.
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Send MLG Capital and/or RealCrowd a message. If you have a question about this offering ask MLG Capital. If you have a question about the transaction process or other general inquiry, RealCrowd will be happy to help.
In the meantime, you can create an account to view detailed information about Trails at Creekside Apartments.
In the meantime, please review the offering documents and financials.