MLG Capital, a national leader in diversified private real estate investments, announced plans for the next generation of the firm’s business and leadership. MLG has named Billy Fox as President and Principal and Dan Price as Chief Investment Officer and Principal. Tim Wallen will remain in his position of Principal and CEO and will continue to be involved in both the day-to-day operations and long-term strategy the firm, while also providing coaching for this next generation of MLG leaders.
In addition to these advancements, MLG’s Rick Reuter, Ryan Mueller and Mike Jagodinski were also elevated to Principal. All five recently named Principals will bring the firm’s total number of Principals to 10.
“For nearly four decades, MLG has thrived because of our ability to be forward-thinking and strategic. While many CRE companies come and go, MLG has stood the test of time because of our ongoing commitment to planning for the future of both our business and our team members,” said Tim Wallen, Principal and CEO at MLG Capital. “MLG is built to last for generations as it’s structured to have talented people come into ownership, spend their career at MLG, retire and pass the opportunity to the next generation. As we plan for that next generation, we are thrilled to congratulate Billy and Dan on their new roles and excited to have Rick, Ryan and Mike as key members of our Principal team. Their deep commitment and dedication have helped MLG thrive, and we know their vision will continue to drive the firm forward.”
Billy Fox has been with MLG Capital for 10 years and currently leads the firm’s Legacy Fund. As President, he will provide leadership to MLG, including team building, investment strategy, overall client experience and will continue on the Investment Committee.
Dan Price, who has been in the industry for 16 years, including four with MLG, currently leads the firm’s Midwest acquisition team and will continue on the Investment Committee. As CIO, he will bring his experience, industry relationships and market knowledge to build diversified real estate funds for MLG.
MLG also announced that MLG Private Fund VI officially closed on December 31, 2024, with ±$384M* in equity raised. The Fund, which continues the firm’s focus on geographic, asset class and asset type diversification for investors, was MLG’s largest fundraise to date.
“The outlook for private equity real estate investing remains positive, and we are excited to continue to find and execute on the smartest real estate deals across the country for Fund VI investors and beyond,” said Dan Price, Principal and Chief Investment Officer. “We take great pride in the continued interest and trust from our investors, and our team will continue to work diligently to identify strategic opportunities that generate strong returns.”
The completion of fundraising for Fund VI coincides with another successful year during which the firm accomplished several milestones. Its unique Legacy Fund solution, which targets to provide owners of appreciated real estate assets a passive, tax-deferred and diversified exit strategy by allowing them to contribute their real estate in exchange for units of the fund, surpassed $1.5 billion* in assets as of 12/31/2024.
Overall in 2024, MLG Capital acquired more than ±$693M in acquisitions encompassing 14 transactions across 11 states. These acquisitions included over 3,300 new multifamily apartment units and over 385K total square feet of commercial property. These figures are comprised of MLG’s series of Private Funds, the Legacy Fund and Managed Accounts as of 12/31/2024.
In May, the firm also opened its fourth location in Denver, which created a local presence as MLG expands its asset and investor base in the Mountain West region.
“These milestones are a testament to our team’s commitment to strategic, sustainable growth,” said Billy Fox, Principal and President. “As we look ahead, we remain focused on building on this momentum, exploring new opportunities, and further strengthening our position as a leader in private equity real estate investment.”
MLG’s successes also led to national and regional recognition in 2024. The firm was recognized, for the fourth consecutive year as one of the Fastest Growing Private Companies in the U.S. by Inc. 5000. Individual employees also received honors, including Multifamily Influencer and Women of Influence by GlobeSt. Real Estate Forum, Rising Star by Multi-Housing News and 40 Under 40 by the Milwaukee Business Journal.
