Vesper Adds Tampa Apartments to Student Housing Portfolio
New York City-based Vesper Holdings and funds managed by affiliates of Fortress Investment Group recently completed the joint venture acquisition of ON50 Tampa for an undisclosed sum. The property is a 156-unit, 444-bed apartment community that caters to students attending the University of South Florida and adjacent to USF’s main campus in Tampa.
“Our acquisition of ON50 is part of a strategy to purchase well-located student housing properties in strong markets that offer our investors superior risk-adjusted returns,” said Isaac Sitt, co-founder and co-CEO of Vesper Holdings. “ON50 marks our fourth acquisition with Fortress over the past 13 months. We look forward to expanding our relationship with Fortress as we pursue additional acquisitions in the months to come.”
Vesper’s student housing portfolio is the ninth largest in the U.S. The portfolio, including ON50, is managed by Vesper’s subsidiary property management company, Campus Life & Style.
- ◦Sale/Acquisition
