SAN MARCOS - Vesper Holdings announced it two latest acquisitions in Texas — Wildwood San Marcos and University Fountains in Lubbock.
Wildwood San Marcos is a 132-unit, 528-bed student housing community located in close proximity to Texas State University at 1655 Mill St.
Wildwood is comprised of 11 three-story residential buildings and a clubhouse.
The 216,000-sf property consists of 132 four-bedroom/four-bathroom flats and townhomes.
The units are among the largest in the market at 1,634 sf and all have a desirable one-bed/one-bath ratio.
Completed in 2013, Wildwood is one of the newest and most sought after properties in the off-campus market.
The property currently maintains a 99 percent occupancy rate, and all apartments are fully furnished.
Vesper purchased Wildwood at a discounted price in an off-market transaction.
Vesper is allocating $250,000 toward property improvements. These funds will be used to improve curb appeal, renovate the clubhouse and pool and upgrade the amenities.