Presidio Apartments Investment Management
About this Property
- Value-add off-market opportunity
- Additional rehab budget of over $5,000 per unit to capture rent growth potential
- Presidio is a class B+ asset located in a class A submarket with great potential
- Current rent collections are 14% below the projected gross potential rent excluding other income
- Lack of multi-family supply in Allen. 85% of supply is single-family vs 15% apartments
- Located within 10 miles of CityLine development that will create thousands of jobs: including State Farm (8,000 workers) est. completion 2015 and Raytheon (1,700 workers) est. completion 2016
- Allen Independent School District. Schools are recognized for academic excellence
About this Operator
- $400MM Assets Over Time
- 28 Years in Business
MLG Capital is a Real Estate Investment Manager that utilizes the skills and expertise of the MLG Family of Companies. Since its inception in 1987 MLG has built a significant reputation in investments, brokerage, property management, leasing, development and advisory services.
MLG Capital has successfully owned and operated 61 income properties, totaling 8,100,000 square feet.
MLG Capital’s investment committee is comprised of 7 individuals averaging more than 20 years of industry experience, including two Co-Founders and a CEO who has been with the firm since 1989. Tim Wallen (CEO) was previously a CPA and Manager with Price Waterhouse in San Francisco, CA and Milwaukee, WI.
VP of Capital Markets
Allen, TX (Dallas MSA)
Dallas-Fort Worth (DFW) is the 4th largest MSA in the U.S. with an estimated population of 6.8 million. The population in DFW has grown 30% since 2000 and it is expected to grow another 8.6% between 2015 and 2019. In 2014 roughly 115,800 jobs were created.
- MSA Rank 4
- Median Income $58,190
- MSA Population 4,534,000
- Population Growth 2.1%