Greensboro, N.C. — Vesper Holdings has acquired University Village, a 600-bed student housing community located near the University of North Carolina at Greensboro.
The community is located across the street from the main entrance to the university’s campus, and offers two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include a clubhouse, swimming pool, 24-hour fitness center, business center, computer lab and tanning beds.
Vesper acquired the property from an undisclosed seller for $40 million in an off-market transaction. The company plans to invest over $1 million in capital expenditures, to include the renovation of units and amenity spaces; extensive enhancements to the property’s exterior; and substantial technology upgrades throughout the complex.