MLG Capital acquires Silverwood Apartments in Kansas

MLG Capital announced its acquisition of Silverwood Apartments, located at 5100 Foxridge Drive in Mission, Kan.

The 280-unit property was built in 1986 and features ample community amenities, including a swimming pool, fitness center, clubhouse and picnic area. Approximately 80 percent of units have been recently renovated, and MLG plans to renovate and modernize the remaining units. The firm plans to install in-unit washers and dryers in all 280 apartment homes.

MLG believes Silverwood Apartments is well-located in a strong school district and desirable submarket just seven miles from downtown Kansas City, Mo. Apartment rents in Mission have grown 4 percent the past 12 months, compared to the nationwide average of 0.5 percent.

“Silverwood Apartments is a well-located property in a strong Midwestern market,” said Nathan Clayberg, vice president at MLG Capital. “We think the property has a ton of potential and are excited to make it part of our portfolio. O