Vesper Holdings ("Vesper"), a privately-held real estate investment firm based in New York City, and funds managed by affiliates of Fortress Investment Group (“Fortress”), a leading global investment manager, have recapitalized Hawks Pointe, a student housing community located within walking distance of the University of Kansas.
Hawks Pointe is a 248-unit, 463-bed student housing community that features a mix of studio, garden-style, loft, and townhouse apartments. Amenities include a resort-style swimming pool, and a two-story clubhouse featuring a 24-hour fitness center, business center and game room. Vesper and Fortress’ capital improvement plan will focus on clubhouse and amenity upgrades, along with extensive enhancements to the properties' exteriors and interiors.
“Investor demand remains strong for recapitalizing Vesper’s student housing assets, driven by our disciplined execution and consistent ability to generate exceptional risk-adjusted returns for our investors,” commented Isaac Sitt, Co-CEO of Vesper Holdings. “Institutional partners value experienced sponsors with strong portfolios, active deal flow, and a long-standing presence in the student housing sector.”
Vesper’s student housing portfolio is among the 10 largest in the United States. Vesper’s portfolio, including Hawks Pointe, is managed by Vesper’s subsidiary property management company – CLS Living (“CLS”). CLS currently manages over 33,000 student housing beds across 43 university markets.
About Vesper Holdings
Founded by Elliot J. Tamir and Isaac J. Sitt, Vesper Holdings is a privately held real estate investment firm based in New York City. Vesper Holdings’ diverse portfolio includes student housing, retail, mixed use, office buildings and parking structures. Vesper Holdings ranks as one of the top 10 largest student housing owners in the United States. Its real estate portfolio consists of 53 properties, including over 25,000 student housing beds.
Source: Vesper Holdings
Media Contact: 212-406-4000
Source: Prodigy.press
Release ID: 1674132
