RealShare Student Housing will take place May 14-15 at theFour Seasons Resort & Spa in Las Colinas. Clickhere for more information.
HUNTSVILLE, TX-Vesper Holdings continues towardits goal of a $1 billion student housing portfolio with itsacquisition of the 528-bed Aberdeen Place. The New York City buyerpaid $12.675 million for the class A, five-year-old asset, whichequates to a 7.9% cap rate.
According to Vesper co-founder and principal Isaac Sitt, thestudent housing complex at 1410 Inverness St. had some distress,with seller Blue Vista Capital Partners of Chicagostriking a deal with lender Wells Fargo N.A. tosell the asset and pay off the existing debt. Sitt tellsGlobeSt.com that other interested buyers offered ahigher price, “but we offered a 30-day close, all-cashpurchase.”
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