Vesper Holdings Acquires 792-Bed Community Near the University of North Texas

Denton, Texas — Vesper Holdings has acquired University Courtyard Denton, a 792-bed community located near the University of North Texas (UNT) campus in Denton. Built in 2001, the property offers a mix of one-, two- and four-bedroom, fully furnished units. Shared amenities include a resort-style swimming pool, fitness center, clubhouse, study rooms, fire pits, basketball and volleyball courts and a UNT shuttle stop. The community was acquired from an undisclosed seller in an off-market transaction. The new ownership plans to implement capital improvements, which will focus on unit, amenity and technology upgrades throughout the property. “Our acquisition of UC Denton is part of a strategy to purchase institutional quality student housing in strong markets that offer our investors superior risk-adjusted returns,” says Isaac Sitt, co-founder and co-CEO of Vesper Holdings. “We expect to remain extremely active in the coming months, as we look to take advantage of pricing dislocations in this higher interest rate environment.”