Vesper Holdings Expands Florida Student Housing Portfolio With New Acquisition

Vesper Holdings announces its acquisition of 4050 Lofts, a 772-bed student housing community located near the University of South Florida

New York UNITED STATES


New York , Dec. 10, 2019 (GLOBE NEWSWIRE) -- NEW YORK – Vesper Holdings ("Vesper"), a privately-held real estate investment firm based in New York City, is pleased to announce the acquisition of 4050 Lofts located in Tampa, Florida.  4050 Lofts is Vesper’s third acquisition in the University of South Florida off-campus market. 

Built in 2009, 4050 Lofts is a 722-bed apartment community that caters to students enrolled at USF.  Located only a block from campus, 4050 Lofts is one of the best located properties in the market.  The property’s unit mix consists of 3- and 4-bedroom floor plans - all with bed-to-bath parity.

The apartments feature contemporary kitchens, washers and dryers, private balconies, and raised ceilings.  All units come fully furnished including flat screen LCD TV’s in every bedroom.  Residents enjoy a full range of amenities including two pools, a tanning dome, fitness center, aqua lounge, nooks, coffee bar, clubhouse, outdoor kitchen, pool table, and location on the USF shuttle route.

Vesper is planning to invest approximately $1,400,000 in capital expenditures.  Property improvements will include a renovation of the units and amenities, as well as extensive enhancements to the property's exteriors and substantial technology upgrades throughout the complex.

“With the acquisition of 4050 Lofts, we are now the largest owner and operator in the USF market” commented Isaac Sitt, co-founder and principal of Vesper Holdings.  “Our Tampa portfolio will benefit from the economies of scale we have generated through this acquisition.  We are pleased to incorporate 4050 Lofts into our rapidly growing student housing portfolio.”

Vesper’s student housing portfolio is among the 10 largest in the United States.  Vesper’s portfolio, including 4050 Lofts, is managed by Vesper’s in-house property management company - Campus Life & Style. 

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 student housing owners in the U.S.  Its real estate portfolio consists of 48 properties, including approximately 19,000 student housing beds.  Vesper Holdings anticipates growing its student housing portfolio to 25,000 beds over the next two years.

Source: http://www.vesperholdings.com/

Media Contact: 

Douglas Kligman 212-406-4000

via: https://story.kisspr.com/