MJW Investments Launches $500M Fund

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.