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.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).