Vesper Holdings Expands its Student Housing Portfolio in Texas with…

New York, Oct. 10, 2023 (GLOBE NEWSWIRE) — Vesper Holdings (“Vesper”), a privately-held real estate investment firm based in New York City, is pleased to announce its latest acquisition – 33 North located pedestrian to the University of North Texas (“UNT”).

Built in 2013, 33 North is a 427-bed, mid-rise apartment community. The property’s unit mix consists of one, two, three, and four-bedroom floorplans – all with bed-to-bath parity. 33 North is 100% occupied for the 2023/24 academic year.

The apartments are furnished and include fully equipped kitchens with stainless steel appliances and granite countertops. Residents of 33 North benefit from a host of top-tier amenities, including garage parking, an infinity pool, fitness studio, study lounge, package lockers, a club room with gaming centers, an outdoor kitchen, and electric charging stations.

Vesper acquired 33 North in an off-market transaction. Vesper’s capital improvement plan will focus on the clubhouse, fitness center, and pool area, as well as substantial technology upgrades throughout the community.

“Our acquisition of 33 North is part of a strategy to purchase well-located student housing properties in strong markets that offer our investors superior risk-adjusted returns,” commented Isaac Sitt, Co-Founder and Co-CEO of Vesper Holdings. “Our recent acquisitions, including 33 North, underscore our ability to execute transactions even in the face of economic uncertainty and elevated interest rates” Sitt added.

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