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MJW Investments Buys 71-Unit Multifamily Property in Washington

1/03/20

Santa Monica-based MJW Investments has acquired View Ridge Apartments – a 71-unit multifamily community in Burien, WA – in an off-market transaction. The property is located at 12311 Ambaum Blvd SW.

The property – which has received few improvements over the last several years – features a mix of large one-, two-, and three-bedroom floorplans, with units offering an in-unit washer/dryer, storage, and private patio. The property is located approximately one mile south of a 38-unit community that was acquired by MJW Investments a year ago and represents MJW’s fifth acquisition in the greater Seattle market.

“The overall Seattle market continues to perform well as renters are increasingly looking for affordability while maintaining proximity to employment and urban amenities” said Mark Weinstein, the company’s Founder and President, who notes that the firm plans to move forward with immediate capital improvements. The company expects the area to continue performing well, especially as some of the nearby opportunity zone related developments come to fruition.

Nick Hemming from Paragon Real Estate Advisors represented MJW Investments in the transaction. Financing was arranged by Shahin Yazdi and Matt Kirisits of George Smith Partners, while Jared Goetz from Tecton will be overseeing operations and the renovation of the property for MJW.





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