MJW Investments has launched a $500 million fund to focus on value-add multifamily investment opportunities that will likely arise out of the economic crisis. The firm launched the fund with a $300 million fundraising goal, but increased the threshold to $500 million after seeing strong interest.

“Even before the virus, we felt that there were some imbalances in the market,” Mark Weinstein, founder and president at MJW Investments, tells GlobeSt.com. “Prices had gotten high, and we felt student housing was being mispriced because there is more risk in it. We thought that there might be some corrections coming, and we wanted to launch a fund to take advantage of the changes that could come in the next year or two—but we didn’t expect anything like this. When this happened, we already had everything ready to go, and we modified it to address opportunities due to the virus.”

The fund will focus on value-add multifamily, distressed assets and student housing. “We found that many people want to get out of the management business anymore, so we are looking for undervalued real estate both locally and nationally to hold for the long term,” says Weinstein. The majority of the fund’s investors are high-net worth individuals, family offices and private wealth management firms.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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