Lubbock: Vesper buys 864-bed University Courtyard

​LUBBOCK – New York City-based Vesper Holdings has acquired University Courtyard in Lubbock.

Completed
in 2005, University Courtyard is an 864-bed student housing community
located in close proximity to Texas Tech University.

University Courtyard contains twelve three-story residential buildings and a clubhouse spread across a 30-acre site.

The property consists of two-, three- and four-bedroom floor plans. All of the units have a one bed to one-bath ratio.

Vesper
is planning to execute a complete renovation of University Courtyard
and intends to invest $4.5 million in capital expenditures.

Property
improvements will include a renovation of the units and amenities, as
well as extensive enhancements to the property’s exteriors and
substantial technology upgrades throughout the complex.