Kentucky

Lexington, Ky. — Vesper Holdings has acquired The Lex, a 649-bed student housing community located near the University of Kentucky campus in Lexington. Built in 2008, the four-story property offers a mix of one-, two- and four-bedroom units with bed-to-bath parity. Shared amenities including a 24-hour, state-of-the-art fitness center; resort-style swimming pool; yoga studio; study spaces; an outdoor hammock garden; and a newly renovated clubhouse and gaming lounge. Vesper partnered with an undisclosed institutional investor on the off-market acquisition, financing for which was placed by Gregg Wallace at AMA Financial. The …

Lexington, Ky. — A joint venture between Campus Advantage and Tramview Capital Management has acquired The Stretch, a 533-bed student housing community located near the University of Kentucky in Lexington.  The property offers a mix of two-, three- and four-bedroom units with bed-to-bath parity. Shared amenities include a two-story fitness center, swimming pool, hot tub, outdoor grilling station, fire pit, basketball court, sand volleyball court, dog park, study rooms and a business center. This acquisition is the first for the joint venture, which was formed with a focus on acquiring …

Bowling Green, Ky. — CBRE has arranged the sale of Hilltop Club, a 756-bed student housing community located near the Western Kentucky University campus in Bowling Green. Jaclyn Fitts, William Vonderfecht, Casey Schaefer, Brett Kingman, Russell Oldham and Brett Carr of CBRE brokered the transaction on behalf of the undisclosed seller. Nashville, Tennessee-based Freeman Webb purchased the community, which offers a mix of three- and four-bedroom units with bed-to-bath parity. Shared amenities include a resort-style swimming pool, basketball and volleyball courts, a dog park, clubhouse, game room, 24-hour fitness center …

Murray, Ky. — Capstone Apartment Partners has arranged the $10.1 million sale of an  898-bed student housing portfolio in Murray. The portfolio features two properties: CEV Murray North and CEV Murray South, which are situated less than a half mile north of Murray State University’s campus. Capstone’s Jonathan Hawks, Adam Klenk, Austin Heithcock and Tyler Mayo represented the seller, Timberline Real Estate, in the transaction. The buyer, Hillcrest Acquisitions, plans to begin minor renovations at the properties to improve occupancy while keeping the current management company in place. CEV Murray North features …