KNOXVILLE, TENN. — PPR Capital Management has purchased Highline at Knoxville, a build-to-rent (BTR) community in Knoxville, for $87 million. The acquisition includes both Phase I and Phase II of the project. Phase I consists of 110 single-family rental (SFR) units, which are currently in lease-up. Phase II, which is slated to be delivered in tranches between 2026 and 2027, will add 151 townhomes and detached SFR homes.
BTR Group is the general contractor for the project. Greystar is the property manager. PPR Capital Management partnered with Center Creek Capital Group, a real estate investment and development firm, on the acquisition. The deal structure includes a total equity investment of $26.6 million, with PPR contributing $25 million as the primary equity partner.
PPR Capital Management is a private equity firm based in Berwyn, Pennsylvania. Highline at Knoxville represents the company’s first BTR purchase and second acquisition in Tennessee.