Student Housing Daily - July 10 - Vesper Holdings JV sells 543 beds

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NEWS ROUNDUP

DISPOSITION: Vesper Holdings JV sells 543 beds. A joint venture led by Vesper Holdings has sold The Indy, a 543-bed luxury student housing property in Marietta, Georgia, to Heitman on behalf of an institutional investor. TSB Realty arranged the fully occupied sale. Vesper originally acquired the asset from Terwilliger Pappas for $41.8 million in 2020. Completed that same year, The Indy sits one mile from Kennesaw State University’s Marietta campus and features resort-style amenities including a saltwater pool, rooftop lounges, and EV charging stations.

DEVELOPMENT: D’Youville University to break ground on new student housing in 2026. D’Youville University has unveiled plans for a new student housing development set to break ground in January 2026. The project will feature primarily apartment-style units with full kitchens and in-unit laundry, and is expected to be completed by July 2027 for the 2027–2028 academic year. President Dr. Lorrie Clemo said the development responds to rising housing demand, fueled by the university’s growing NCAA Division II athletics and plans for a new College of Medicine.

DEVELOPMENT: WPI delays Hampton Inn student housing conversion. Worcester Polytechnic Institute has postponed its plan to convert the Hampton Inn into student housing by 2026, citing nationwide challenges in higher education. In a letter to the community, WPI said revenue from operating the 100-room hotel would support financial resiliency as the school faces cuts in federal research funding, declining international enrollment, and a shrinking domestic student pool. The university still intends to convert the nearby 134-room Courtyard Marriott into student housing by 2030 and will reassess the Hampton Inn timeline annually. President Dr. Grace Wang emphasized WPI’s continued investment in Worcester, including over $140 million in Gateway Park and annual payments exceeding $815,000 to the city.

DEVELOPMENT: SVSU breaks ground on $12.3 million student housing project. Saginaw Valley State University has broken ground on a $12.3 million student housing project to meet what officials call “unprecedented demand.” The new development will add four University Village buildings, accommodating 96 students in apartment-style units with private bedrooms. Approved by SVSU’s board in 2024 and expanded in 2025, the project is expected to finish by August 2026 and will be funded through auxiliary reserves. Vice President Noel Hornbacher cited strong student interest in on-campus living for its safety, amenities, and community experience.

READ: Q2 2025 student housing report.

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STUDENT HOUSING FOR SALE

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517 Beds | 81% Occupancy | Cottage-Townhomes | 79% Preleased For AY ‘25-’26 | Resort Amenities | Offers Due: July 24

98% Occupied | 98.8% Pre-Leased For AY ‘25-’26 | 100% Bed-to-Bath Parity | 0.3 Miles to Campus

4.08 Acres | Development Opportunity for 203 Units and 700 Beds | Allows for a 5-Story Class A Building | 0.3 Miles to Campus

801 Beds | Avg. Unit Size: 1,707 SF | 100% Occupied | Built in 2015 | Avg. Market Rent Per Bed: $800

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