AUBURN, AL – Muinzer, a leading real estate investment firm specializing in student housing, alongside capital partner T2 Capital Management, announced the acquisition of Evergreen Auburn near Auburn University. The property consists of 486 student housing beds that are 97% leased for the August 2023 school year and 88% pre-leased for the August 2024 school year.
Muinzer’s buy of Evergreen Auburn marks its first acquisition in the Auburn University submarket. “We are investing capital into what we believe is a compelling environment to buy quality student housing assets. Evergreen Auburn was a logical target for us as we continue the nationwide expansion of our student housing platform,” said Marc Muinzer, Founder and CEO of his namesake firm. “We will continue to scale and heavily concentrate our student housing investments near the largest, fastest growing four-year universities,” added Mr. Muinzer.
Muinzer started investing in student housing in 2002 and is one of the largest owners in the Huge Ten and SEC Conferences. “We continue to have long-term conviction in student housing and are actively deploying capital towards our goal of acquiring an additional $1 billion of student housing assets near high-growth universities,” added Michael Snyder, COO of Muinzer.
Muinzer and its affiliate South Street Capital were founded by Marc Muinzer in 2002. With offices in Los Angeles, Knoxville, Auburn, West Lafayette, and Chicago, Muinzer is one of the largest owners and operators of student housing in the Huge Ten and SEC Conferences.

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SAN DIEGO, CA – Affirmed Housing, a leading provider of affordable, multifamily housing throughout California, and the Metropolitan Transit System (MTS) announced the completion of ShoreLINE, a new, 100% affordable, transit-oriented housing development for households earning between 30 and 60 percent of the area median income (AMI).
Transit-oriented developments are smart investments that help pave the way for healthy cities and citizens, and ShoreLINE goes above and beyond to demonstrate exactly that, said Jimmy Silverwood, president of Affirmed Housing. This project provides hard working families and individuals with more than just a roof over their head. It recognizes their contribution to society and gives them the access and resources to live their best lives. Affirmed Housing is proud to partner with MTS in developing impactful, forward-looking projects that help make San Diego one of the best places to live.
The new $62.6 million affordable housing community is located at the Grantville Transit Center on Alvarado Canyon Road. A grand opening celebration was held on April 30 with Mayor Todd Gloria, MTS Board Chair and San Diego City Councilmember Stephen Whitburn, Councilmember Raul Campillo and regional housing leaders in attendance.
ShoreLINE is another example of how MTS is repurposing park and ride locations to provide much-needed relief to our region s housing crisis, said Stephen Whitburn, MTS Board Chair and San Diego City Councilmember. This transit-oriented development has proven to be a successful opportunity for the public and private sectors to partner to offer affordable housing along with sustainable transit options for San Diegans.
ShoreLINE was developed to support residents holistic healthy living and wellbeing. The new, seven-tale building features 126 studio, one-, two- and three-bedroom apartment homes and a wide array of amenities and services to foster community engagement and enhance quality of life goals.
I am proud to support ShoreLINE because it prioritizes hard-working, lower-income San Diegans and their families by delivering homes that they can afford along with the resources that will enhance their quality of life, said Mayor Todd Gloria. Being located directly at a trolley stop will provide residents with simple access to transit and help the City reach its climate goals. I appreciate the work Affirmed Housing and MTS are doing to bring ShoreLINE and other transit-oriented projects like it to fruition.
Shared indoor amenities include laundry facilities on every level, bike storage, a computer lab, kitchen and a community room with gathering space. ShoreLINE s outside space includes parking, an expansive courtyard, outdoor gardens and additional gathering spaces with built-in seating, an enclosed tot-lot play area and a barbecue station. A large paseo leading to the main entrance and several paths through and around the building connect to the transit station to encourage pedestrian and bike activity. Residents also have exclusive access to onsite supportive services, such as after-school programs for children and adult education programs that focus on health and wellness, skills and career building, human services and more.
ShoreLINE is part of a larger plot to redevelop MTS top-tier park and ride locations into transit-oriented developments. The site replaces an existing MTS parking lot, with the affordable development situated on the western half and a separate, neighboring, market-rate development for students, developed by Greystar, located on the eastern side of the lot. Affirmed Housing worked closely with the team at Greystar to master plot the overall site in a way that was most beneficial to MTS s goals as landowner. As part of ShoreLINE s development, Affirmed Housing leveraged various types of funding and tax credit resources, and although the project s plot adhered to the land use guidelines governing the site, the company engaged and worked closely with the San Diego Development Services Department to ensure a smooth process and engaged in community outreach to neighbors and plotting groups.
ShoreLINE is one of four affordable housing projects that stem from an Affirmed Housing and MTS partnership. The team recently broke ground on SkyLINE, located at the Rancho Bernardo Transit Station, which will include 100 affordable apartment homes and roughly 14,000 square feet of commercial space that will be Affirmed Housing s new corporate headquarters. Other top-tier properties MTS is in the process of redeveloping include: Rancho Bernardo Transit Station, Palm Avenue Trolley Station, Spring Street Station, 12th & Imperial Transit Center, El Cajon Transit Center, E Street Transit Center, and Beyer Boulevard Transit Center.
Additionally, MTS has existing transit-oriented developments at the Morena Linda Vista Station, Grossmont Station, 62nd Street Station, 47th Street Station and Grantville Station, with 1,155 apartments homes completed and occupied, and an additional 100 currently under construction.
Affirmed Housing s development and design partners on ShoreLINE include MTS, San Diego Housing Commission, the California Department of Housing and Community Development (HCD), the City of San Diego, Boston Financial, Cal Bank & Trust, Banner Bank, Studio E Architects, HA Builder Group, Compass for Affordable Housing, CONAM Management Corporation and more.

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VANCOUVER, WA – A real estate fund managed by Kennedy Wilson has partnered with Haseko Corporation to buy The Farmstead and Villas at 28th Street communities in Vancouver, Washington. The portfolio, which totals 350 multifamily units, was bought for $90 million. The two newly constructed, amenity rich communities build on Kennedy Wilson s significant multifamily presence in the Pacific Northwest that is currently approaching 13,000 market rate and affordable apartment units.
This transaction furthers our corporate goal of growing our investment management platform alongside fantastic strategic partners while leveraging our long-term experience of investing in multifamily across the Pacific Northwest, said William McMorrow, Chairman and CEO of Kennedy Wilson. Building on our 30-year history in Japan, we are thrilled to close our first joint venture with Haseko, an organization that shares our investment values as well as our focus on institutional asset management practices.
This is a landmark achievement in our growth strategy within the mainland U.S., solidified through our new partnership with Kennedy Wilson. While our presence in Hawaii has been longstanding, our renewed venture into the mainland U.S. started in 2019, primarily in collaboration with developers linked to Japan. To start with, we are striving to reach $100 million in annual profit, it is imperative for us to collaborate with local investors like Kennedy Wilson. This strategic partnership not only expands our investment platform but also underscores our commitment to diversification, and sustainable growth,” said Kain Matsumoto, Chairman and President of Haseko North America, Inc.
Despite the volatile capital markets, we remain committed to investing in the U.S. multi-family sector. We want to thank the team at Kennedy Wilson for a smooth closing and look forward to expanding our footprint of existing and ground-up projects across the U.S., said Laurie Mathers, Head of Investment and Asset Management of Haseko North America, Inc.
The recently completed communities feature diverse floor plans across three different product types as well as expansive amenities, including secure gated access, fitness centers, dog parks, a pickle ball court, pet wash stations, natural green space, and walking trails. Located off Interstate 205, the communities sit within five minutes of each other and within 10 minutes of Portland, Oregon, providing residents with connectivity and immediacy to the area s high-quality employers, sought-after recreation, and well loved eateries.
Vancouver s strong market fundamentals and population growth of 21% since 2010 have been driven by the expanding of the Vancouver Waterfront, the revitalization of downtown, and a favorable business climate that includes zero corporate or personal income tax.

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