MLG Capital Acquires 180-Unit Multifamily Property Lyra at Riverdale Station in Coon Rapids, MN

MLG Capital has acquired Lyra at Riverdale Station, a 180-unit multifamily property located in the Riverdale Station district of Coon Rapids, Minnesota, the firm announced. MLG Capital assumed the property's existing HUD loan as part of the transaction. Financial terms were not disclosed.

Deal Details and Financing

JLL served as the investment sales broker in the transaction. The financing for the deal involved the assumption of an existing HUD loan. No additional details regarding the loan amount, interest rate, or remaining term were disclosed.

Lyra at Riverdale Station is situated within the Riverdale Station submarket of Coon Rapids. No year-built, square footage, or current occupancy figures were disclosed in connection with the transaction.

MLG Capital's Acquisition Platform

MLG Capital operates through multiple fund vehicles including its Private Fund series and Legacy Fund. The firm pursues direct acquisitions as an owner-operator in select markets and also provides joint venture equity to experienced operators in the Southeast, Mountain West, and Midwest regions.

Sources

MLG Capital – MLG Capital Acquires Lyra at Riverdale Station in Coon Rapids