The asset involved in the transaction is Gateway at Denton, located at 1201 Cleveland Street in Denton. This is a fully occupied student housing property comprising 228 units and 696 beds. The property offers various two-, three-, and four-bedroom floor plans, amenity features such as a renovated clubhouse, swimming pools, and convenient access to campus transportation, reflecting the rising demand for off-campus accommodations associated with a 24% increase in student enrollment over the past five years.

Summary of transaction details:

• Property Type: Student Housing
• Transaction Amount: Not disclosed
• Units: 228
• Beds: 696
• Buyer: Vesper Holdings
• Seller: MJW Investments
• Brokers: Drew Kile, Peter Katz & Tim Speck - Institutional Property Advisors - Marcus & Millichap

The transaction highlights the involvement of Institutional Property Advisors (IPA), which facilitated the sale of the property. The brokers, Drew Kile, Peter Katz, and Tim Speck, represent the buyer, Vesper Holdings, and the seller, MJW Investments, signifying a collaboration among experienced professionals in the student housing market.