Asset type	Operational asset
Location	Louisville, Kentucky
Capacity	385 beds
Seller	undisclosed
Buyer	Vesper Holdings
Value	US$25 million

The Nine

Source: Vesper Holdings

The Nine is a purpose-built student housing property located adjacent to the University of Louisville campus. Delivered in 2016, the six-story asset benefits from direct pedestrian access to the university.

The property offers a unit mix of 2-, 3, 4-, and 5-bedroom apartments, all configured with bed-to-bath parity. Units are equipped with standard modern finishes, including quartz countertops, stainless steel appliances, laminate cabinetry, hard-surface flooring, and in-unit laundry facilities.

Amenities include a fitness centre, study areas, group workspaces, and a range of communal facilities such as a swimming pool, outdoor social areas, and resident lounges. Additional features include a yoga/spin room, coffee bar, and dog park.

Strategic context

Including this acquisition, Vesper has completed more than US$1 billion in student housing transactions over the past 12 months. The firm’s portfolio ranks among the largest in the United States, with assets managed through its in-house property management platform, CLS Living. CLS Living oversees more than 35,000 student housing beds across 34 university markets, including The Nine.

Acquisition financing was arranged by Berkadia.