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 near 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.
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