MJW Investments Acquires 95 Units in Kent, WA
Kent, WA – MJW Investments has acquired Kentwood Apartments - a 95-unit multifamily community located at 22425 Benson Rd SE, in Kent, WA. This is MJW’s second 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 outside of Los Angeles.
The property – which has received only minor improvements since initial construction – features a mix of one-, two-, and three-bedroom floorplans, with approximately half of units offering an in-unit washer/dryer and fireplace. “As the Kent market continues experiencing high demand for rental product, Kentwood offers significant room for value-add improvements” said Mark Weinstein, the company’s Founder and President. “The asset is primed for in-unit renovations and common area enhancements,” added Michael DiSimone, MJW’s Director of Acquisitions. “We expect our planned improvements to enhance both the asset and the neighborhood surrounding Kentwood.”
The property’s location benefits residents due to its proximity to several nearby employment hubs, public transportation, as well as numerous local amenities.
Dylan Simon, Jerrid Anderson, and Matt Laird of Colliers assisted the seller 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 and the renovation of 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 email@example.com or Michael DiSimone, Director of Acquisitions, at 310.395.3430 firstname.lastname@example.org for acquisition opportunities.