New York City — Vesper Holdings has acquired a four-property student housing portfolio totaling 2,761 beds for $240 million.
Acquisitions include a 635-bed community located near Indiana University; a 699-bed community located near the University of Kentucky; a 736-bed community located near Kennesaw State University; and a 691-bed community located near Virginia Commonwealth University. Jaclyn Fitts of CBRE negotiated the transaction on behalf of the undisclosed seller.
“Our acquisition of this student housing portfolio is part of a strategy to purchase best-in-market student housing properties that offer our investors superior risk-adjusted returns,” says Isaac Sitt, co-founder and co-CEO of the New York City-based firm. “We are pleased to incorporate these four market leading communities into our rapidly growing student housing portfolio.”