Vesper Holdings Expands its Student Housing Portfolio by Acquiring 33 North

The real estate giant Vesper Holdings has acquired the 33 North apartment community located near the University of Texas (UNT). 33 North was built in 2013 and is a housing unit comprising 427 beds. Furthermore, the property has a facility of one, two, three, and four bedrooms on each floor.

As per the latest student housing news, 33 North is already booked for the academic year of 2023/24. Vesper Holdings is a privately held real estate investment firm based in New York City. This latest venture will ensure that students are getting the necessary facilities and amenities in this Texas student housing. 

33 North provides student apartments that are all fully furnished and fully equipped with a kitchen that comes with stainless steel appliances and granite countertops. In addition, this Texas student housing comes with a wide range of amenities that will make students feel comfortable and at home. Some of these amenities include garage parking, an infinity pool, a fitness studio, a study lounge, package lockers, a club room with gaming centres, an outdoor kitchen, and electric charging stations.

As per the latest real estate news, Vesper has acquired 33 North in an off-market transaction. According to Isaac Sitt, Co-Founder and co-CEO of Vesper Holdings, “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.” Furthermore, he added, “Our recent acquisitions, including 33 North, underscore our ability to execute transactions even in the face of economic uncertainty and elevated interest rates.”

If we take a look at Vesper’s share in the market, this real estate giant is the sixth-largest student housing portfolio in the US. The majority of Vesper’s properties are managed by its subsidiary property management company, Campus Life & Style (CLS ). At present, CLS is managing around 30,000 student housing beds across 39 university markets. We are looking forward to the opening of this unit to learn more about student experience and review.