Nuveen Sells Suburban Dallas Student Housing Community
Situated near the University of North Texas, the property features 427 beds.
33 North will undergo substantial technology upgrades. Image courtesy of Vesper Holdings
Vesper Holdings has purchased 33 North, a 427-bed student housing community in Denton, Texas, from Nuveen Real Estate. The buyer secured a $10.7 million Freddie Mac loan, originated by KeyBank, with a maturity date set for November 2033, public records show.
Built in 2013, the property is fully occupied for this academic year. The mid-rise building comprises 139 units with one-, two-, three- and four-bedroom floorplans, all with bed-to-bath parity. Apartments range between 520 and 1,368 square feet and feature fully equipped kitchens.
Common-area amenities at the 2.2-acre property include an infinity pool, a fitness center, a study lounge, package lockers, a clubhouse and electric charging stations. In addition, the community also offers more than 345 parking spaces. Vesper’s plans call for a capital improvement program focused on the fitness center and clubhouse, as well as implementing technology upgrades throughout the community.
Located at 919 Eagle Drive, 33 North is next to University of North Texas. Texas Woman’s University and a host of dining options are within a 2-mile radius. A retail center, as well as a Walmart and an Aldi are within 4 miles from the community.
Earlier this month, another student housing sale closed in Arlington, Texas, with Axonic Properties’ acquisition of Maverick Place from Waypoint Residential. The 382-bed community is next to the University of Texas at Arlington.
