PROVO, UTAH — A joint venture between MJW Investments and Redstone Residential has acquired a 924-bed student housing community located near Brigham Young University in Provo.
The property offers shared amenities including a sand volleyball court, hot tub, swimming pool, on-site laundry and a game area. The partnership plans to renovate the property’s units and shared amenity spaces.
Voya Investments provided financing for the acquisition. Redstone Residential will oversee operations and property enhancements.
“The property’s close proximity to campus and remarkable offerings are just a few of the aspects that make this property incredibly attractive” says Mark Weinstein, president and founder of MJW Investments. “This brings our 2021 acquisitions to more than 2,000 beds in Provo.”