### PPR Capital Management Acquires Highline at Knoxville in $87 Million Deal
**Knoxville, TN** — Pennsylvania-based private equity real estate investment firm **PPR Capital Management (PPR)** has completed the acquisition of **Highline at Knoxville**, a newly constructed build-to-rent (BTR) community in Knoxville, Tennessee.
The **$87 million transaction** includes **Phase I**, featuring 110 detached homes currently in lease-up, and **Phase II**, which comprises 151 to-be-developed townhomes and detached homes. PPR partnered with **Center Creek Capital Group** on the acquisition. The PPR project team involved in the deal includes **Christopher Cordes**, **Claude Roxborough** (General Counsel), and **Matt Carfaro** (Investment Analyst).
This acquisition marks **PPR’s first build-to-rent investment** and its second property in Tennessee. The structure of the deal includes a total equity investment of **$26.6 million**, with PPR contributing **$25 million** (95% of the total equity) as the primary equity partner.
**”This acquisition marks a pivotal moment in PPR’s strategic growth as we enter the build-to-rent sector, which aligns with our disciplined investment framework of balanced risk and sustainable returns,”** said **Steve Meyer, CEO of PPR Capital Management**.
This acquisition reinforces PPR Capital Management’s expansion into the build-to-rent market, demonstrating its commitment to strategic, long-term growth in the real estate investment sector.
