PPR Capital Management (PPR), a private equity real estate investment firm, announced the acquisition of Highline at Knoxville, a newly constructed build-to-rent (BTR) community in Knoxville, Tenn. This strategic $87 million acquisition encompasses both Phase I, consisting of 110 detached homes currently in lease-up, and Phase II, featuring 151 to-be-developed townhomes and detached homes. PPR partnered with Center Creek Capital Group (Center Creek), a real estate investment and development firm, on the acquisition.
The Highline at Knoxville represents PPR's first build-to-rent investment and second property in Tennessee, following the May 2024 acquisition of a value-added multifamily asset in Nashville. The deal structure includes a total equity investment of $26.6 million, with PPR contributing $25 million (95 percent of equity) as the primary equity partner. All units feature private yards, garages and three or four bedrooms, offering residents high-quality housing options
