The Social at South Florida, a 560-bed student housing community, has been sold to Vesper Holdings for $26 million. Located at 2919 Network Place in Tampa, the 180-unit asset, houses students from the University of South Florida in 12 three-story buildings. The new owners plan to invest more than $1 million in capital expenditures. The purchase marks Vesper’s second student housing property in the USF market. “Our acquisition of The Social is part of a strategy to purchase well-located properties with superior risk-adjusted returns,” Isaac Sitt, co-founder & principal of Vesper Holdings, said in a statement. “Since we were able to acquire this asset in an off-market transaction at a discount, we are in a position to invest necessary capital and offer the property to students at highly competitive rental rates.”
