Vesper Holdings Acquires 432-Bed Student Housing Near University Of North Texas For $1.8M

Midtown 905 is a 432-bed student housing property located at 905 Cleveland Street in the Denton market. The property features amenities tailored for student living near the University of North Texas, which supports its demand and occupancy.

Summary of transation details:

• Property Type: Student Housing
• Transaction Amount: Not disclosed
• Buyer: Vesper Holdings
• Broker: Christopher Epp - Walker & Dunlop
• Mortgage Brokers: Geoff Smith - Walker & Dunlop; Gregg Wallace - AMA Financial
• Date of Transaction: 10/11/2024

The deal was supported by plans for $1.8 million in capital improvements. Christopher Epp represented the seller, while Geoff Smith and Gregg Wallace were responsible for securing acquisition financing for the buyer.