Union City, GA — March 14, 2022, Los Angeles-based real estate investments firm MJW Investments acquired Hidden Lake Apartments, an off-market 320-unit multifamily property situated on 30+ acres in one the fastest-growing pockets in Atlanta, GA. South Fulton County has the second highest projected 4-year rent growth of the 39 submarkets in Atlanta per Axiometrics. This is MJW’s first acquisition in Atlanta, and the firm is looking to grow its footprint there along with other high growth suburban markets.
Hidden Lake Apartments is irreplaceable real estate with significant room for value-add improvements. The Property is a low-density garden style product that features a mix of one-, two-, and 3-bedroom floorplans that average 1,012 square feet. MJW plans to make significant improvements to the exterior and common areas as well as conscientious interior unit upgrades.
“We’re excited to penetrate the Atlanta market by acquiring a uniquely positioned asset in a submarket expected to see some of the highest rent growth in the entire MSA. The continued job growth surrounding the asset, coupled with MJW’s value-add strategy, will help position the asset as a preferred rental destination for residents for years to come,” said Mark Weinstein, MJW’s Founder and President.
“We’re eager to expand our presence in one of the nation’s fastest growing MSAs by acquiring a rare value-add opportunity of scale in Atlanta. Having lived there in 2017 and taking part in closing more than 1,000 units in The Greater Atlanta MSA, I am bullish on the continued upward trajectory of South Fulton County” said Tony Cianciolo, MJW’s Head of Acquisitions. The Property has easy access to the I-285 and I-85 and is close to employers such as Atlanta Metro Studios, Amazon fulfillment center, Procter & Gamble, Kraft Foods, Chick-Fil-A headquarters, and Hartsfield-Jackson Atlanta International Airport.
MJW is looking to expand its multifamily and student housing portfolios. For acquisition opportunities, contact Tony Cianciolo, Head of Acquisitions, at tcianciolo@mjwinvestments.com.
About MJW Investments
MJW Investments is the majority owner and manager of a national real estate portfolio valued at more than $1 billion, consisting of 1,300 units and 7,600 beds. Active in every area of commercial real estate, MJW takes pride in making well-timed, disciplined, and strategic investment decisions. The company specializes in revitalizing and repositioning multifamily and student housing properties with locational advantages in markets that have high barriers to entry. MJW’s experienced team looks at every component that affects a project, taking into consideration all the resources required to help a community prosper and grow: retail, recreation, entertainment, lifestyle, living space, and transportation. Throughout its more than twenty-five-year history, MJW Investments has maintained its passionate vision to stimulate economic prosperity, build community, and enrich individual lifestyles by pioneering intelligent urban redevelopment and renovation projects.
