West Lafayette, Ind. — Muinzer has acquired Village West Apartments, a 1,134-bed student housing community located near the Purdue University campus in West Lafayette, for $48 million. The seller in the off-market transaction was undisclosed.
Village West offers two-, three- and four-bedroom, fully furnished units. Shared amenities include a club house, state-of-the-art fitness center, two basketball courts, a study center, media lounge, resort-style swimming pool, dog park, volleyball court, grilling areas and a private shuttle to campus. Scott Clifton and Stewart Hayes of JLL brokered the transaction.
“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,” says Marc Muinzer, founder and CEO of Muinzer. “Taken together, I am delighted with the near- and long-term prospects for the community.”