SEATTLE--(BUSINESS WIRE)--Investors Capital Group (ICG), a multifamily investment firm headquartered in Seattle, Washington has announced the acquisition of Wall Street Lofts, a 108-unit mixed use multifamily property located in Midland, TX. It is the second apartment property in ICG Apartment Fund 9 LLC, which will ultimately include approximately four to six assets.
The property is a midrise in a prime location, situated in the center of downtown. Amenities include a clubhouse, fitness center, business center, pool, dog run, and BBQ stations. There are two commercial tenants in the property, including a restaurant and a hair salon.
“Wall Street Lofts is a unique asset, and we are excited to own this class A mid-rise in the heart of Midland,” said Mick Halpin, Principal and Managing Member at ICG. “Midland Odessa has limited new multi-family construction, and we believe the macro-economic forces will continue to drive demand for this asset.”
ICG was attracted to this property for its great location and access to downtown. The property provides incredible walkability to all the best restaurants, bars, and nightlife in Midland’s downtown. Residents also have incredible walkability to the main business district which continues to see a steady increase in high-paying jobs.
About Investors Capital Group (ICG)
ICG is a Seattle-based real estate investment firm that focuses on opportunistic acquisitions and quality management of multifamily residential properties across the Western United States to provide attractive returns for accredited investors.
With over two decades of experience, ICG has purchased more than $2 billion worth of multifamily housing. The firm is rooted in an extensive background in property management with a conservative underwriting philosophy that lends itself to creating significant value through acquisitions and asset management and generating above-market returns. ICG strives to build strong relationships with investors, owners, and real estate professionals, while providing high quality, safe communities for residents.
