Vesper Buys Eight Student Housing Properties

Sitt: “This acquisition is part of a strategy to purchase well-located properties with upside potential.”

NEW YORK CITY—Vesper Holdings, a private real estate investment firm based here, has acquired an eight-property, 4,925-bed student-housing portfolio. The company declined to reveal the purchase price but a source close to the deal reveals to GlobeSt.com that the portfolio is valued at more than $250 million.

CBRE’s Jaclyn Fitts, national director of student housing, negotiated the transaction on behalf of the seller; that party’s identity was not known at press time. It was also unclear whether Vesper had outside representation in making the deal. The company’s purchase ranks among the 10 largest student housing transactions ever completed in the United States. In addition, the acquisition ranks as one of the five largest student housing transactions in the US led by a private company.