LOS ANGELES, Calif., Dec. 16, 2021 /PRNewswire/ — Muinzer, a privately held real estate investment firm founded by Marc Muinzer, together with T2 Capital Management, today announced the off-market acquisition of University Park near the University of Tennessee. The 720-bed student housing community is 100% leased and underpinned by 26 acres of land. The transaction was facilitated by Scott Clifton and Chris Carroll of JLL.
University Park is the second acquisition near the University of Tennessee for the joint venture between Muinzer and T2 Capital Management. “Much like our recent acquisition of the Heights of Knoxville, University Park maintains a strong sense of community and has opportunities for sustained improvements over time,” said Marc Muinzer, Founder and CEO, Muinzer.
The purchase, which was acquired at a discount to replacement cost, marks the continued nationwide expansion of the Muinzer student housing platform. “As one of the fastest growing student housing investment firms in the nation, we are targeting an additional $500 million of acquisitions near rapidly expanding universities in the Big Ten and SEC,” added Mr. Muinzer.