Vesper Holdings and funds managed by affiliates of Fortress Investment Group 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 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. Vesper’s portfolio is managed by Vesper’s subsidiary property management company, CLS Living, which currently manages over 33,000 student housing beds across 43 university markets.
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