Vesper Holdings has bought the newest student housing community in the Houston market, the 147-unit Tower 5040, from Gore Creek Partners. Campus Life & Style, Vesper’s subsidiary property management company, will manage the property.
Built in 2020, the 405-bed community caters to students attending the University of Houston. It offers a mix of studios, one-, two- and four-bedroom floorplans with bed-to-bath parity, ranging from 374 to 1,379 square feet, according to Yardi Matrix data. All units are fully furnished and feature balconies and washers and dryers. Community amenities include a hot tub, sundeck, computer lab, TV lounge and grilling areas. Study rooms are also available.
Situated on 1.5 acres at 5040 Calhoun Road, the community is less than a mile south of the University of Houston. Downtown Houston is some 5 miles northwest of Tower 5040, while Houston Zoo is 4 miles west. MacGregor Park is less than half a mile south.
Active across 31 different university markets, Vesper now owns more than 28,000 student housing beds. Just last month, a Vesper Holdings joint venture bought 1540 Place in Murfreesboro, Tenn., for which the partners plan to invest $3.5 million in renovations.
