JV buys eight student housing projects, three in Texas

​​​NEW YORK – Vesper Holdings and Prospect Capital Corp. have purchased eight student housing complexes totaling nearly 5,000 beds in five states for $72 million from Campus Advantage Inc. Three of those properties are in the Lone Star State.

The 312-bed Islander Village and the 336-bed Campus Quarters are both near Texas A&M University-Corpus Christi.

The District on Luther, a 1,098-bed community ne​ar the Texas A&M University campus in College Station, is the largest property in the portfolio. ​​

The venture will invest $11 million to upgrade unit interiors and amenities over the next two years. 

CBRE negotiated the transaction on behalf of the seller.