MJW Investments has recently completed the acquisition of Verraso Village, a 96-unit Class A Build-to-Rent townhome community located in the Meridian submarket of Boise’s MSA. The property was built in two phases, with construction taking place in 2016 and 2018. It offers unique and spacious two-level homes averaging at approximately 1,840 square feet each, complete with attached two-car garages.
According to Tony Cianciolo, MJW’s Head of Acquisitions: “Verraso Village is well-positioned for success within the rapidly growing Boise MSA market. Its prime location combined with its large layouts and single-family-home living experience make it stand out as the top choice for renters.”
The property boasts an excellent location surrounded by various amenities such as upscale retailers and dining options less than a mile away at The Village at Meridian. MJW acquired this property using moderately low leveraged agency loan assumption along with fixed-rate financing set at just 3.2%. Additionally, there are still over five years remaining on the loan term.
