Vesper Holdings recently acquired Gateway at Denton, a student housing community located near the University of North Texas. According to Yardi Matrix data, the company secured a $25.3 million Freddie Mac loan for this purchase through KeyBank and AMA Financial.
Originally built in 2005, Gateway at Denton offers 696 beds spread across three stories. The property features a variety of two-, three-, and four-bedroom floor plans with equal bed-to-bath ratios.
Residents can enjoy numerous amenities such as furnished apartments, around-the-clock fitness centers, multiple pools and hot tubs, basketball courts, study areas, computer labs,and a clubhouse.
In order to enhance the complex’s appeal even further,Vesper has budgeted over $4 million for renovations.
Peter Katz from IPA represented the seller during this transaction.Vesper’s acquisition marks their fourth investment in the Denton market.In total,the company has completed five student housing deals totaling more than $250 million within just nine months.
