TEMPE, ARIZ. — MJW Investments has acquired ReNUE on Orange, a 110-unit student housing community located near Arizona State University in Tempe. The price was not disclosed.
The property offers one- and two-bedroom units with shared amenities including a swimming pool, sundeck and courtyard. The company plans to make improvements to the property, including upgrading unit interiors and common areas, addressing deferred maintenance issues and rebranding the property as “Thrive Tempe,” according to Mark Weinstein, president of MJW Investments. This investment increases MJW Investment’s student housing portfolio to over 5,500 beds.