WEST LAFAYETTE, IN - Muinzer, a fully-integrated real estate investment firm specializing in student housing, announced the sale of the Salisbury Portfolio near Purdue University in West Lafayette, IN.
The five-property portfolio consists of 290 student housing beds that are 100% leased for the August 2023 school year and 100% pre-leased for the August 2024 school year. Scott Clifton of JLL spearheaded the institutional sales process that generated significant interest and resulted in multiple offers for the portfolio.
Muinzer acquired the Salisbury Portfolio via an off-market transaction in 2017.
"I have been a net buyer of student housing near my alma mater, Purdue University, for well over 20 years and 2024 will be no different. That said, this was a great opportunity for us to sell a small holding while generating exceptional returns for our investors," said Marc Muinzer, Founder and CEO of his namesake firm.
Muinzer began investing in student housing in 2002 and is one of the largest owners in the Big Ten and SEC Conferences. "Student housing fundamentals are the strongest we have seen in the last 20 years. In 2024 and 2025 we plan to expand our team and acquire an additional $1 billion of student housing assets near high-growth universities in the largest conferences," added Michael Snyder, COO of Muinzer.
"In 2024 we will continue our nationwide expansion by concentrating our investments near the largest and fastest growing universities. I'm incredibly proud of the entire Muinzer team," added Mr. Muinzer.
Source: Muinzer