Vesper Acquires 834-Bed Student Community
This marks the company’s second acquisition in Columbia, Mo.
Vesper Holdings has acquired Brookside Downtown, an 834-bed student housing community in Columbia, Mo. Real Equity Management was the previous owner, according to Yardi Matrix. Newmark brokered the deal and arranged the financing.
The deal marks Vesper’s second acquisition in the market and its ninth student housing transaction over the past 12 months.
Located at 825 Elm St. in downtown Columbia, the property is within walking distance of the University of Missouri campus. Brookside Downtown was built in phases between 2010 and 2024 and encompasses seven mid-rise buildings with ground-floor retail space. The unit mix consists of one- to four-bedroom floorplans, ranging between 970 and 1,940 square feet.
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Common-area amenities include a swimming pool, fitness center, rooftop terrace and study center. The community also has a sundeck and clubhouse.
Newmark Vice Chairman & Head of the Student Housing team Ryan Lang represented the seller in the transaction, while Executive Managing Director Ben Roelke arranged the financing on behalf of the buyer.
Mizzou sales remain steady
The University of Missouri at Columbia ranked fourth nationally for student housing transactions in 2024, Yardi Matrix data shows. The total investment volume in the school market reached $115.5 million, with the average price per bedroom clocking in at $60,500.
Among the properties that traded last year is Elevate 231, now rebranded as The Collective at Columbia. The Preiss Co. acquired the 972-bed community, which is fully leased for the current academic year.
