The 636-bed student housing community is 100 percent leased and underpinned by 31 acres of land. The transaction was facilitated by Scott Clifton of JLL.
The purchases, which was acquired at a discount to replacement cost, marks the continued nationwide expansion of the Muinzer student housing platform and is the company’s first acquisition in the University of Tennessee market.
“The Heights of Knoxville is exactly the kind of asset we are looking to acquire,” said Marc Muinzer, founder of Muinzer. “It maintains a strong sense of community and has opportunities for sustained improvements over time.”