Real Estate

Mlg Capital Jv Closes Georgia Value-add Play

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The partnership acquired Pinewood at National Hills in Augusta in an off-market deal. : MLG Capital, in partnership with The Sterling Group, has purchased Pinewood at National Hills Apartments, a 160-unit property in Augusta, Ga., in an off-market transaction. The seller, Lexerd Capital Management, had owned the asset since 2018 when the company acquired it for $10.2 million, Yardi Matrix shows. The new owner plans to implement a series of improvements and renovate the community’s interiors, exteriors and amenities. Pinewood at National Hills, located at 1075 Bertram Road, is MLG’s first investment in Augusta and its third in Georgia.

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