MARKET OUTLOOK,REAL ESTATE INVESTMENT
MLG Capital | January 11, 2023
MLG Capital, a frontrunner in diverse private real estate investments, recently announced that its acquisitions in 2022 topped $1.2 billion, setting another company record.
Notably, the company's first year with $1 billion in asset acquisitions was 2021. It also continued to achieve success over the past year by acquiring 1.8 million square feet of commercial space in over 7,100 multifamily apartment units and 14 states.
MLG announced its sixth diversified fund in May 2022, aiming to raise $400 million in equity. The company's latest product, MLG Legacy Fund, also witnessed significant growth. With only two years since its establishment, the fund has already amassed over $700,000,000 in property holdings.
MLG's achievements also led to national and regional recognition in 2022. For two years in a row, Inc. 5000 named it as one of the fastest-growing private companies in the United States.
Additionally, GlobeSt. Real Estate Forum has named the company a Multifamily Influencer while Milwaukee Business Journal has named it one of Milwaukee's 'Best Places to Work'. Individual employees also earned distinctions, including Rising Star by Multi-Housing, News Woman of Influence by GlobeSt. Real Estate Forum, and so on.
Senior Vice President of MLG Capital, David Binder, said, "MLG has invested in over $5.6 billion of transactions, which is the total of sold assets and the estimated current value of current investments as of Q3 2022. This figure represents approximately 39.5 million square feet of assets, inclusive of more than 33,900 multifamily apartment units across the country, further strengthening our diverse portfolio and positioning us as a leader in the industry." He also said, "Paramount to our growth and successes this past year is the strong support and trust from our valued investor and deal partners across the country. As we look ahead to 2023, we will continue to focus on finding smart real estate deals across the country by working with best-in-class deal partners, with a dedication to transparency, absolute integrity and making a difference while making a living."
About MLG Capital
MLG Capital is a private equity investment firm and direct real estate operator. Its primary goal is to increase the value of its clients' holdings. Investors around the United States trust the company because of its solid reputation and track record of positive returns, built up over 35 years of business. The current department portfolio includes more than 33,900 apartment units. Investing with MLG Capital, the investors relish tax efficiency, prioritized returns and geographic, asset type and real estate manager diversifications.
REAL ESTATE TECHNOLOGY,AGENT
SkySlope | January 10, 2023
Oregon Real Estate Forms, LLC (OREF) has recently added the SkySlope disclosure solution, Breeze, to its benefits program.
Breeze is a simple, guided digital workflow that helps agents and sellers easily complete disclosure forms.
OREF, based in Eugene (Oregon), develops and licenses real estate transaction and advisory forms for real estate professionals in Oregon. Almost a year ago, the organization turned to SkySlope to overhaul the experience of digital forms for the agents.
"Since its launch, OREF's partnership with SkySlope has been incredibly successful," says OREF CEO Melissa Peterson. She added, "SkySlope's ease of use, award-winning customer service, and time-saving functionality has helped to reinvent the form-filling process for our members. As we looked to 2023, we were interested to see how we could grow our partnership with SkySlope to optimize our member experience and provide additional value."
(Source: PR Newswire)
SkySlope Breeze, a digital disclosure solution that converts seller disclosures into a guided digital questionnaire, is being incorporated by OREF into their member benefits package to broaden its offerings.
"Breeze provides a guided workflow that helps sellers complete complicated disclosure forms with ease," says Peterson. "It's a win for sellers - and that's ultimately a win for agents."
(Source: PR Newswire)
Breeze transforms fill-in-the-blank disclosure forms like Oregon's SPDS into user-friendly procedures. This simplifies the time-consuming, legal jargon-heavy disclosure procedure. On the back end, sellers' responses populate form fields, resulting in complete disclosure forms. Breeze's convenience increases with in-app messaging that allows sellers to integrate comments or questions for agents in the workflow.
SkySlope, a California-based prop-tech company, is trusted and innovative. Over 650,000 U.S. and Canadian real estate agents and 15 prominent U.S. brokerages use its digital transaction management platform. The startup wants to produce the best autonomous transaction platform. SkySlope lets brokers, agents, auditors, and transaction coordinators handle deals from contract to close. Its product package lets real estate professionals spend less time in front of a screen and more time helping customers.
REAL ESTATE TECHNOLOGY, REAL ESTATE INVESTMENT
Marcus & Millichap | February 01, 2023
On January 31st, 2023, Marcus & Millichap, a renowned commercial real estate brokerage company specializing in investment sales, research, financing, and advisory services, signed an exclusive representation agreement with Deep South Studios LLC to secure joint venture equity for the development of Deep South Studios Phase I.
The project is based in New Orleans, Louisiana, and involves the construction of a 262,560-square-foot, full-service television and film production facility. The sponsor, Deep South Studios LLC, is represented by Henri M. Kessler and Eric Michael Anton of Marcus & Millichap's Global Capital Division.
The facility's primary utilities are operational, and three buildings are functional and generating revenue. The site is wholly authorized and ready for development. Two production offices, six sound stages varying in size from 16,500 to 30,000 sq. ft., and vendor buildings totaling 99,000 sq. ft. will form the project. There will be a construction mill for creating world-class sets, a grip and lighting installation, and as many as one thousand parking spaces.
The facility is situated on a 20-acre site, the largest contiguous tract of undeveloped land in the heart of New Orleans. Located on elevated ground on the west side of the Mississippi River in the Algiers area, it is accessible from Interstate 10 and Louis Armstrong New Orleans International Airport. The French Quarter and the central commercial district of the city are nearby.
About Marcus & Millichap, Inc.
Marcus & Millichap was founded in 1971 to foster a culture of long-term relationships and collaboration. Headquartered in Calabasas, California, it is a leading brokerage firm focusing on commercial real estate investment sales, research, financing, and advisory services. The company combines expert market knowledge, an excellent brokerage platform, and exclusive access to inventory to realize exceptional results for clients. Today, it is one of the leading firms in the real estate investment sales and financing industry, with over 80 offices and almost 2,000 financing and investment sales professionals in Canada and the United States.