MLG Capital – a national leader in private real estate investments – announced its acquisition of Venetian at Capri Isles, located at 1050 Capri Isles Boulevard, Venice, Florida.
The 180-unit property was acquired under MLG’s innovative Legacy Fund, which offers a tax deferred exit strategy for private real estate owners.
From 2023-2024, the North Port-Sarasota-Bradenton MSA was the second-fastest growing in the country, with its housing market ranking third nationwide according to the US News and World Report.
The Venetian is well-located in the Sarasota County Schools district, which ranks No. 1 in Florida by Niche.com. The property also located near several major and growing employers.
MLG plans to make strategic capital improvements to the property, including interior unit, exterior unit and amenity upgrades to enhance the asset’s desirability.
“Our unique Legacy Fund structure recently surpassed $1.4 billion in acquisitions, and we are pleased to add Venetian at Capri Isles to our asset mix for the fund,” said David Rodriguez, vice president at MLG Capital. “This property presents a nice opportunity in a growing market and provides diversification to our fund that will help drive returns for our investors.”
The Legacy Fund offers owners of commercial real estate a tax-deferred exit option to contribute their property in exchange for units of a professionally managed, diversified real estate fund. Since its launch, the Legacy Fund has grown to exceed $1.4 billion in assets, including interests in 100 properties across 20 states that encompass over 17.4 million square feet and ±17,100 multifamily units.
