LAWRENCE, KS-Vesper Holdings, based in New York City, has purchased the 248-unit Hawks Pointe Apartments for more than $12 million. The collection of three student housing properties, near the campus of the University of Kansas, was sold by Aspen Square Management.

The 463-bed community is split up into three separate properties, containing 20 two- and three-story buildings, located from one to five blocks away from the college campus. The properties are fully occupied, says Isaac Sitt with Vesper. Amenities at the various properties include swimming pools, picnic and grilling areas, and a two-story clubhouse. The cap rate on the sale was 7.5%, he says.

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