AUBURN, AL – Muinzer, a leading real estate investment firm specializing in student housing, alongside capital partner T2 Capital Management, announced the acquisition of Evergreen Auburn near Auburn University. The property consists of 486 student housing beds that are 97% leased for the August 2023 school year and 88% pre-leased for the August 2024 school year.
Muinzer’s purchase of Evergreen Auburn marks its first acquisition in the Auburn University submarket. “We are investing capital into what we believe is a compelling environment to purchase quality student housing assets. Evergreen Auburn was a logical target for us as we continue the nationwide expansion of our student housing platform,” said Marc Muinzer, Founder and CEO of his namesake firm. “We will continue to scale and heavily concentrate our student housing investments near the largest, fastest growing four-year universities,” 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. “We continue to have long-term conviction in student housing and are actively deploying capital towards our goal of acquiring 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, Auburn, West Lafayette, and Chicago, Muinzer is one of the largest owners and operators of student housing in the Big Ten and SEC Conferences.