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September 28, 2020
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MIG Real Estate LLC Buys One-Acre Res Dev Site in Denver


MIG Real Estate LLC has purchased a 1.04-acre development site in Denver, CO. MIG acquired the property from a private seller for $3.4 mil. The site is the first acquisition for MIG’s new Qualified Opportunity Zone Business Fund, which recently raised over $100 mil in equity to invest in Opportunity Zone development sites throughout the Western United States.

MIG plans to build a new, 114-unit luxury apartment community on the property, located at the corner of South Clarkson and Jefferson Ave in Denver’s Englewood neighborhood, which serves as a gateway between downtown Denver and its southern suburbs. The location offers strong freeway access, close proximity to the employment and the South Broadway shops, bars and restaurants. It is also in close proximity of the Swedish Medical Center and Craig Hospital regional employers, with a multitude of retail, office, and healthcare options.

In the last several months, MIG has hired several top development executives to establish a commercial real estate development and construction platform that can seize on qualified opportunities quickly, and successfully build innovative high quality projects where housing is needed.

“We’re pleased to make the first of many Opportunity Zone investments with our newly launched fund,” says Greg Merage, Chief Executive Officer of MIG. “This multifamily development site offers a long-term opportunity for MIG to investment, build, and manage the property to maximize the return and tax benefits offered by the new federal regulations, while providing needed housing in these communities. Denver’s Englewood neighborhood is a well-diversified, vibrant area with high residential desirability.”

MIG actively seeks to invest in, develop, and revitalize additional properties located in Opportunity Zones that are within close proximity to employment centers, commercial amenities, schools, medical facilities, and high-volume corridors with access to mass transit.

MIG currently owns and manages over 10 msf of commercial real estate, including 6,000 multifamily units. The firm has recently expanded by hiring a number of professionals with extensive commercial development expertise, including Michael Englhard as Chief Operations Officer, Elizabeth Cobb as Director of Development, Chris Wright as Director of Construction, and Colin Bagwell as Acquisitions and Development Manager.

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