LOS ANGELES, Sept. 24, 2021 /PRNewswire/ -- Muinzer, a privately held real estate investment firm founded by Marc Muinzer, together with T2 Capital Management, today announced the acquisition of The Heights of Knoxville near the University of Tennessee. The 636-bed student housing community is 100% leased and underpinned by 31 acres of land. The transaction was facilitated by Scott Clifton of JLL.
The purchase, which was acquired at a discount to replacement cost, marks the continued nationwide expansion of the Muinzer student-housing platform. The Heights of Knoxville is Muinzer's first acquisition in the University of Tennessee market.
"The Heights of Knoxville is exactly the kind of asset we are looking to acquire. It maintains a strong sense of community and has opportunities for sustained improvements over time. I am delighted with the near and long-term prospects for this property," said Marc Muinzer, Founder and CEO, Muinzer.
Muinzer also announced a $325 million student-housing acquisition initiative. "As one of the fastest growing student housing investment firms in the nation, we are seeking acquisitions near rapidly expanding universities in the Big 10 and SEC," added Mr. Muinzer. "Our team's 20-year track of executing across various economic cycles has been the backbone of our success. We intend to leverage this experience as we continue to expand our team and our portfolio."
About Muinzer:
Muinzer and affiliate South Street Capital were both founded by Marc Muinzer in 2002. The Muinzer team has acquired and developed over 5 million square feet of student housing, creative office and urban retail space and is one of the fastest growing student housing investment firms in the nation. With offices in Los Angeles, Knoxville, West Lafayette and Chicago, Muinzer is one of the largest owners of student housing in the Big Ten and SEC Conferences. Please visit www.muinzer.com for more information.
About T2 Capital Management:
Since its founding in 2011, T2 has deployed $1 billion across the entire capital stack and among virtually all property types. The firm has created a niche in swiftly executing investments. Each investment is designed to serve as a customized capital solution that is tailored to meet specific objectives and lead to a mutually desirable outcome among T2 and its partners. Please visit www.t2investments.com for more information.
Contact:
Muinzer Management
220 South Street, Suite #201
West Lafayette, IN 47906
Email: [email protected]
Phone: 765-505-4000
SOURCE Muinzer
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