T2 Scales Student Housing Portfolio Near Purdue University

A joint venture between T2 Capital Management and Muinzer Management acquires a 629-bed student housing asset that serves the students at Purdue University.

WEST LAFAYETTE, INDIANA, UNITED STATES, August 2, 2023/EINPresswire.com/ -- T2 Capital Management and Muinzer Management recently acquired Station 21, a 201-unit, 629-bed, student housing community that serves the students at Purdue University. The 7-building garden style property sits on 19.7 acres and includes amenities such as a state-of-the-art fitness center, dog park, resort style swimming pool, sand volleyball court, basketball court, and a private shuttle to campus.

The value-add acquisition of Station 21 is the fifth joint venture between T2 and Muinzer and comes on the heels of the venture’s May 2023 acquisition of the adjacent 360-unit, 1,134-bed Village West property. With a total of three student housing properties in the Purdue market as well as two at the University of Tennessee in Knoxville, the T2/Muinzer venture now owns and manages 3,600+ beds, all of which are 100% leased for the 2023/24 school year.

Jeff Brown, founder and CEO of T2 comments “Building on our long-standing partnership with Muinzer, we are excited to continue to scale at Purdue. Student housing has been a bright spot among commercial real estate assets and the market fundamentals at Purdue are especially strong. We are grateful for our capital partners who stepped up to execute on this $40+ million acquisition in the midst of especially challenging conditions among the real estate and capital markets. The team and I look forward to continuing to provide a great living experience for the students at Purdue.”

T2 is a growing private equity real estate firm that is headquartered in Wheaton, Illinois with a growing office in Nashville, Tennessee. With $1.4+ billion in gross AUM, T2 is actively pursuing strategic development and investment opportunities in the student housing and multi-family space. Visit T2investments.com.

Jeff Brown
T2 Capital Management
+1 630-590-9511
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