MJW Investments Acquires 112 Units in Mountlake Terrace, WA

Mountlake Terrace, WA – MJW Investments has acquired Greenview Apartments - a 112-unit multifamily community located at 21416 52nd Ave W, Mountlake Terrace, WA – in an off-market transaction. This is the first time the property has been available for sale in nearly 50 years and represents MJW’s third acquisition in the greater Seattle area as the company is currently focused on growing a portfolio of value-add multifamily and student housing properties in core markets around the country.

The property – which has received only minor improvements since initial construction – features a unit mix of one- and two- bedroom floorplans, as well as an on-site leasing office, community clubhouse, and pool. The property’s location benefits residents due to its proximity to several nearby employment hubs, two future link light rail stations, Paine Field, as well as numerous local amenities.

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Jon Hallgrimson and Kyle Yamamoto of CBRE assisted the buyer in the transaction and Shahin Yazdi and Matt Kirisits of George Smith Partners assisted the buyer with financing. Jared Goetz of Tecton will be overseeing operations at the property for MJW.

We are looking to expand our local apartment and nationwide student housing portfolio. Please contact Mark Weinstein, Founder and President, at 310.395.3430 x217/mweinstein@mjwinvestments.com or Michael DiSimone, Director of Acquisitions, at 310.395.3430 x211/mdisimone@mjwinvestments.com for acquisition opportunities.