Huntsville, Texas — Vesper’s student portfolio now totals approximately 4,700 beds.
Huntsville, Texas — Vesper Holdings, a privately-held real estate investment firm based in New York City, has acquired The Forum at Sam Houston in Huntsville, Texas. With this latest transaction, Vesper’s student housing portfolio now totals 10 apartment complexes and approximately 4,700 beds.
The Forum at Sam Houston is a 294-unit, 450-bed student housing community close to Sam Houston State University. The Forum is comprised of 11 three-story residential buildings and a clubhouse. The property features floor plans ranging from one- to three- bedroom units. Completed in 2011, The Forum is the newest property in the off-campus market. The property currently maintains a 99 percent occupancy rate.
“Our acquisition of The Forum is part of a strategy to purchase well-located Class A student properties with superior risk-adjusted returns,” says Isaac Sitt, co-founder and principal of Vesper Holdings. “Since we were able to acquire this asset at a discount, we are in a position to invest necessary capital and offer this market-leading property at competitive rental rates.”