MJD Capital Partners (MJD) announced today it recently completed the acquisition of the Boatworks Mall in Tahoe City, Calif., with the intent of continuing existing operations while evaluating long-term development options for the property.
MJD previously acquired the adjacent 34-room Tahoe City Inn in late 2018. The Boatworks Mall, constructed in 1978, is home to some of the most familiar restaurant brands in Tahoe City such as Jake’s on the Lake and Hacienda Del Lago.
“We are excited to complete this transaction and assemblage and begin working toward the highest and best use of these properties,” said Marie Murphy, Founder and CEO of MJD. “As excited as we are, we have no plans to move forward with any future development until we have consulted with our neighbors, satisfied the strict requirements of Placer County and the TRPA, and ultimately decide what is in the best interest of the Tahoe City community and Lake Tahoe.”
Murphy added, “It may take us two or three years to arrive at final plans for this very special location. We will take all the time needed so that we can be good stewards of the property and long-term custodians of the Lake.”
ABOUT MJD CAPITAL PARTNERS
Founded in 2013 by Marie Murphy, MJD Capital Partners, LLC is a privately held, full service, vertically integrated development and management company with offices in San Francisco, Sacramento, Tahoe City, and Reno, Nevada. MJD works with capital partners seeking to invest in commercial and multifamily investments, including short-term and long-term investment horizons.
Since its inception, MJD has successfully completed more than 50 projects in the Sacramento and Reno markets.