MZ Capital Partners Acquires Residences at Devanshire Single-Family Rental Home Community in West Knoxville Submarket
KNOXVILLE, TN – MZ Capital Partners, expanding its Knoxville Tennessee asset footprint, has announced the purchase of the Residences at Devanshire, an 87 single family home rental community.
![](https://multifamilyleadership.com/wp-content/uploads/2023/05/MZ_Capital_10547.jpeg)
Knoxville is one of the best rental real estate investment markets in the nation. Occupancy in the Knoxville market has ranged from 95% to 98% over the past five years. Over the last year, occupancy levels have exceeded 97%. The Knoxville occupancy rate ranked #1 among the 66 key South region markets and #9 among the top 150 markets nationally.
Located in the West Knoxville sub-market, the 87 Single Family Homes, built in 2006, feature 3 bedrooms and 2 full baths with back porches or patios, attached garage parking, and private back yards with mountain range views.
The acquisition provides a unique opportunity for increased cash flow and appreciation in value through more efficient institutional quality management and a value-add renovation and repositioning program.
MZ Capital Partners, headquartered in Northbrook, Illinois is a demographically driven real estate investment firm with a specialty niche in multifamily assets throughout the United States.
SOURCE: MZ CAPITAL PARTNERS