New York City-based Vesper Holdings, an industry leader in student housing, wrapped up another milestone year in 2022 with over $2 billion in assets under management. Over the past year alone, Vesper's transaction volume totaled $970 million despite a challenging macro-economic environment that sharply curtailed transactions across all commercial real estate sectors.
"In 2022, Vesper Holdings continued to successfully execute its strategy of purchasing exceptional, well-located properties in strong markets that offer superior risk-adjusted investment returns" said Vesper's Co-CEO, Isaac Sitt. "Student housing is a sector of commercial real estate that continued to outperform in 2022 and is an optimal space for further expansion in the coming year" added Vesper's Co-CEO, Elliot Tamir. "We look forward to seizing the opportunities ahead of us in 2023 and continuing to deliver the outsized returns we have consistently achieved for our investors over the years."
Vesper Holdings reached various milestones in 2022 including:
- Over $2 billion of assets under management
- Nearly $1 billion in transactions closed year-over-year
- $570 million in acquisitions closed in 2022
- $400 million in recapitalizations with institutional joint venture partners in 2022
- $676 million in loan closings in 2022
- Successful closing of one of the five largest single-asset acquisitions in student housing history and the largest not involving institutional capital
- Ownership of the 6th largest student housing portfolio in the U.S. with 24,093 beds spread across 27 markets
- Campus Life & Style (CLS), Vesper Holdings' subsidiary, increased its portfolio under management to 29,905 beds
- CLS was engaged to third party manage an additional 14 student housing communities in 2022 with a combined 4,256 beds
About Vesper Holdings
Founded by Elliot J. Tamir and Isaac J. Sitt, Vesper Holdings is a privately held real estate investment firm based in New York City. The company's diverse portfolio includes student housing, retail, mixed use, office buildings, and parking structures. Vesper Holdings ranks as the sixth-largest student housing owner in the United States, with a portfolio of more than 24,000 student housing beds. For more information, visit https://www.vesperholdings.com.
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