Muinzer Acquires Auburn Student Housing
The property previously traded in late 2017.
Muinzer has acquired Samford Square, a 752-bed student housing community in Auburn, Ala., in an off-market transaction. 3rd Group Properties was the previous owner, according to Yardi Matrix information.
The property formerly traded in December 2017, when Realco Capital Partners sold it for $33 million, public records show. At the time, 3rd Group took out a $24.8 million Fannie Mae loan originated by Capital One for the acquisition, Yardi Matrix reports.
The Class A community came online in 2002 and is fully leased for the 2024-2025 academic year. The property consists of 14 three-story buildings with two-, three- and four-bedroom layouts ranging between 880 and 1,450 square feet.
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Common-area amenities at the more than 22-acre residence hall include a fitness center, clubhouse, business center, volleyball court and basketball court. Additionally, the community has a swimming pool, tanning beds and about 1,100 parking spaces.
Located at 202 W. Longleaf Drive, the property is close to a host of dining and retail opportunities, while Auburn University is less than 2 miles away. Downtown Auburn is some 3 miles northeast and the Auburn University Regional Airport is within 8 miles.
Auburn University’s total enrollment for the 2023 academic year clocked in at 31,789, on par with the 31,764 students registered during the previous academic year, according to Yardi Matrix information. With student housing demand on the rise, the school was 99.5 preleased for the fall 2024 academic year, a slight increase from the 96.6 percent recorded in the previous year.
