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919 Eagle Drive

Vesper Holdings Acquires 33 North Student Housing Community In Denton, Texas
SOLDSenior Housing

Vesper Holdings Acquires 33 North Student Housing Community In Denton, Texas

919 Eagle Drive

Building Size

Asset Type

Senior Housing

Closing

Oct 12, 2023

AI

Vesper Holdings has acquired the 427-bed student housing community known as 33 North in Denton, Texas. The property, located at 919 Eagle Drive, spans across 2.2 acres and offers one- to four-bedroom units. Situated near the University of North Texas, this student housing complex presents an excellent investment opportunity in the Denton market.

Summary of transaction details

  • Property Type: Student Housing
  • Transaction Amount: Not specified
  • Beds: 427
  • Acres: 2.2
  • Market: Denton

In this transaction, Vesper Holdings, represented by Elliot J. Tamir, acted as the buyer. On the seller's side, Nuveen Real Estate, represented by Jose Minaya, facilitated the sale of 33 North. The lending institution involved in the deal was KeyBank.

Players

Vesper Holdings
Vesper HoldingsBuyer

Jose Minaya

Nuveen

Seller

$313.5M

vol

7 deals

Seller
KeyBank
KeyBankLender

Goshen Senior Housing Market Snapshot

Boundary boundary · Senior Housing · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93