Last week, MJW closed on Thrive Tempe, formerly know as ReNUE on Orange. The 1960s-built 110-unit apartment building is located next to Arizona State University. Per MJW’s value-add strategy, plans for the property include significant renovations to the units, common areas, and building exterior. Additionally, property operations will transition to student housing. These changes will allow MJW to unlock substantial upside in the property’s income as units vacate.

 

 

With the help of Tides Equities and Redstone Residential, MJW Investments has started the process of bringing new life to the 50 year old building.

We are looking to expand our local apartment and nationwide student housing portfolio. Please contact Mark Weinstein for acquisition opportunities at 310.395.3430 x217 or mweinstein@mjwinvestments.com.