Vesper Holdings has bought a four-property, 2,761-bed, student-housing portfolio with a total cost of more than $240 million.
The transaction expands Vesper’s presence in Georgia and Virginia and extends its reach into Kentucky and Indiana. The portfolio is concentrated near large, growing universities with an average enrollment of 37,258 students. Acquired properties 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. The portfolio maintains an average occupancy of 97 percent. CBRE’s Jaclyn Fitts negotiated the transaction on behalf of the 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,” said Isaac Sitt, co-founder and co
