Muinzer Acquires Village West Apartments for $48 Million
WEST LAFAYETTE, Ind., Feb. 5, 2020 /PRNewswire/ -- Muinzer, a fully integrated owner and operator of commercial and residential real estate, today announced the acquisition of Village West Apartments near Purdue University in West Lafayette, IN for $48 Million. The asset is one of the largest student complexes in the nation, encompassing 1,134 student-housing beds underpinned by 20 acres of land.
The off-market purchase, which was acquired at a discount to replacement cost, marks the continued expansion of the Muinzer platform in the fundamentally strong Purdue University submarket.
"Village West is exactly the asset we were looking for, with a tremendous existing management team, a strong sense of community and opportunities for sustained improvements over time. Taken together, I am delighted with the near- and long-term prospects for Village West Apartments," said Marc Muinzer, Founder and CEO, Muinzer.
The transaction caps over $100 million of apartment acquisitions for Muinzer over the preceding twelve months. "We are actively seeking additional acquisitions throughout the Midwest," added Mr. Muinzer. "The Muinzer team, with over 40 professionals and decades of property management experience, will continue to provide superior customer service to all existing and future tenants."
About Muinzer
Muinzer is a fully integrated real estate investment, development and property management firm with offices in West Lafayette and Chicago. The firm is a premier owner and operator of commercial and residential real estate throughout the Midwest. The Muinzer track record spans over 4 million square feet of acquisitions and ground-up developments in niche asset classes including student housing, creative office and urban retail. Please visit www.muinzer.com for more information.
Contact
Muinzer Management
220 South Street, Suite #201
West Lafayette, IN 47906
Email: [email protected]
Call or Text: 765-505-4000
SOURCE Muinzer
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