T2 Capital Management, a fully integrated, private equity real estate investment firm with $1.4 bn+ AUM, has acquired the Evergreen student housing community at Auburn University in a joint venture with Muinzer Management. The 201-unit, 486-bed, garden style property sits on 19.2 acres and is located 1.1 miles from Auburn University’s central campus. Property amenities include a resort-style swimming pool and hot tub, a newly renovated, 24-hour fitness center, and expansive indoor and outdoor community spaces. The property is currently fully leased and 91% pre-leased for the 2024/25 school year.
Evergreen is the most recent of a long line of joint ventures between T2 and Muinzer and comes following last year’s acquisitions of three separate student housing communities at Purdue University totaling over 2,000 beds. Since the firm’s inception, T2 has owned 10,000+ student housing beds and has a current portfolio of over 5,000+ beds, totaling over $500 million in value.
“As a leading investor in the student housing space, we are excited to continue scaling our portfolio with the addition of Evergreen at Auburn University,” said Jeff Brown, Founder and CEO of T2. “Given Auburn University’s recent record applications, enrollment, and high retention rates, the Evergreen community is well positioned to take full advantage of continued long-term growth tailwinds.”
About T2 Capital Management: Headquartered in Wheaton, Illinois with locations in Nashville and Tampa, T2 was founded in 2011 in the aftermath of the great financial crisis. Among T2’s investment strategies, the firm actively pursues opportunistic acquisition and development opportunities in the student housing and multifamily space among select markets within the United States. Additionally, T2 serves as a balance sheet lender that has financed projects nationally, including current projects in over 15 states. T2 considers a wide array of credit investments in property types including multi-family, student housing, retail and more.