MLG Capital Acquires Crosslakes Industrial Portfolio in Grand Rapids MSA

BROOKFIELD, Wis. — MLG Capital, a Brookfield, Wisconsin-based sponsor of private real estate funds, announced April 23 the acquisition of the Crosslakes Industrial Portfolio, a five-property industrial real estate portfolio located across the Grand Rapids, Walker, and Norton Shores submarkets in West Michigan's Grand Rapids metropolitan statistical area.

Portfolio Overview and Industrial Real Estate Assets

The Crosslakes Industrial Portfolio comprises a mix of multi-tenant and single-tenant buildings described by the firm as functional, institutional-quality industrial real estate assets. The properties benefit from proximity to major regional transportation infrastructure, including Interstate 96, U.S. Route 131, and Gerald R. Ford International Airport, providing connectivity to regional and national markets, according to the firm's announcement.

Financial terms of the real estate acquisition — including purchase price, square footage, occupancy rates, and individual property addresses — were not disclosed.

Recapitalization Structure and Sponsor Real Estate Partnership

MLG Capital is partnering with CORE Pacific Advisors through a recapitalization structure as part of the transaction. CORE Pacific Advisors will continue to oversee day-to-day operations of the portfolio, drawing on its local market presence, ownership history, and established tenant relationships. The arrangement is designed to provide management continuity while positioning the portfolio for a long-term leasing and value-enhancement strategy, the firm said.

"This acquisition aligns with our strategy of investing in well-located, functional industrial assets below replacement cost," said Daniel Price, Chief Investment Officer and Principal at MLG Capital. "The Crosslakes portfolio offers stable operations with high in-place cash flow and long-term upside potential supported by market fundamentals and experienced local management."

Fund Context: MLG Private Fund VII

The Crosslakes Industrial Portfolio represents the seventh acquisition completed within MLG Private Fund VII, the firm's current private real estate fund vehicle. MLG Capital targets investment from investment advisors, family offices, and accredited individuals through its private fund structures.

The Grand Rapids MSA industrial market is supported by a diversified manufacturing employment base and limited new industrial supply, factors the firm cited as contributing to sustained tenant demand and long-term fundamentals.

Sources: MLG Capital Press Release, April 23, 2026