Vesper JV Sells Atlanta-Area Student Community
The 543-bed building came online in 2020.
A joint venture involving Vesper Holdings has sold The Indy, a 172-unit, 543-bed luxury student housing community in Marietta, Ga., an Atlanta suburb. Heitman LLC acquired the asset on behalf of an institutional investor.
TSB Realty arranged the transaction. The property was fully occupied at the time of the sale.
Vesper Holdings acquired the asset in December 2020 from Terwilliger Pappas, according to Yardi Matrix information. The firm paid $41.8 million for the five-story building.
Completed in 2020, The Indy is at 3011 Hidden Forest Court, 1 mile from the Kennesaw State University at Marietta campus and within walking distance of Fifth Third Stadium. Downtown Atlanta is less than 24 miles southeast.
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The community encompasses one-, two-, three- and four-bedroom floorplans ranging from 580 to 1,816 square feet. The fully furnished units also have washers and dryers, with private balconies or patios in select layouts.
Common-area amenities include a saltwater swimming pool with private cabanas, fitness center, clubhouse, cyber café with coffee bar, game room and fire pits. The property also has indoor and outdoor rooftop lounge, putting greens and EV charging stations.
Student housing near Kennesaw State University
Kennesaw State University’s total enrollment for the 2024-2025 academic year clocked in at 47,845 students, according to Yardi Matrix information. Currently, the university has 10 properties totaling 7,157 beds serving it.
In January, a joint venture between Alden Street Capital and Invesco Real Estate sold Bixby Kennesaw, a 179-unit, 656-bed community. Kennesaw State University Foundation paid $99 million for the asset close to The Indy.
