Muinzer, a Los Angeles-headquartered real estate investment firm specializing in student housing, has acquired the Grant Street Station and South Street Station communities next to Purdue University in West Lafayette, Indiana.
The properties total 362 student housing beds and are 99% pre-leased for the August 2024 school year. The acquisition was made in partnership with an affiliate of Walton Street Capital LLC and was arranged by Randall Calvert of TSB Realty.
The financial terms of the acquisition were not disclosed, although Muinzer stated the deal capped more than $250 million of student housing acquisitions made during the preceding 12 months.
“We will continue to acquire student housing communities in the top university markets. I’m very proud of the Muinzer team for executing on yet another acquisition next to my alma mater, Purdue University,” said Marc Muinzer, founder and CEO of his namesake firm. “The combination of our access to capital and our veteran student housing management team gives us a significant runway to continue acquiring.”