Source: Muinzer / T2 Capital Management
WEST LAFAYETTE, IN - Muinzer, a privately held real estate investment firm founded by Marc Muinzer, alongside T2 Capital Management, announced the acquisition of Village West near Purdue University in West Lafayette, IN. The property is one of the largest student-housing assets in the nation totaling 1,134 beds underpinned by 22 acres of land. The asset is currently 100% leased and 100% pre-leased for August 2023.
"This transaction unlocks significant value and allows our original institutional equity partner to successfully exit. It also provided Muinzer with the opportunity to increase our ownership stake in Village West while continuing our onsite property management role. We look forward to continuing to create value while providing superior customer service," said Marc Muinzer, Founder and CEO of his namesake firm. "Thank you to our incredible team, lenders, and investment partners. Even in an uncertain macroeconomic environment, we have successfully completed nearly $250 million of transactions thus far in 2023," added Mr. Muinzer.
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. With our portfolio 100% leased and 100% pre-leased for August 2023, we continue to expand our team and acquisition goals. In 2023 and 2024 we are looking to acquire an additional $1 billion of student-housing assets near high-growth universities," added Michael Snyder, COO of Muinzer.
Muinzer and its affiliate South Street Capital were founded by Marc Muinzer in 2002. 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.