Vesper Holdings has acquired Tower 5040, a 405-bed student housing property located near the University of Houston. Built in 2020, the mid-rise community offers a mix of studio, one-, two- and four-bedroom, fully furnished units with bed-to-bath parity. Shared amenities include a swimming pool, hot tub, resort-style sun deck, computer lab, television lounge, outdoor kitchen, grilling areas and study rooms.
“Our acquisition of Tower 5040 is part of a strategy to purchase best-in-market student housing properties that offer our investors superior risk-adjusted returns,” says Isaac Sitt, co-founder and co-CEO of Vesper Holdings. “We are pleased to expand our footprint in Texas and incorporate this property into our rapidly growing student housing portfolio.”