What Vesper Holdings does

Vesper Holdings is a privately held real estate investment firm founded in 2007 by Elliot J. Tamir and Isaac J. Sitt and headquartered in New York City. The firm pursues a vertically integrated strategy focused almost exclusively on student housing, sourcing off-market acquisitions, repositioning properties with upgraded amenities and design, and operating assets through its wholly-owned property management subsidiary, CLS Living. As of April 2026, Vesper ranks among the top six student housing owners in the United States, with $3 billion-plus in assets under management, 30,000-plus beds, 10,300-plus units, and a footprint spanning 21-plus states and 45-plus markets. The company targets top-tier university markets and has executed a sustained acquisition cadence, completing over $1 billion in student housing transactions across the trailing 12-15 months and growing its bed count from approximately 25,000 to 30,000+ between mid-2025 and early 2026.

Vesper operates a two-segment business model. The investment arm generates returns through acquisition, value-add repositioning, and disposition of student housing properties, reporting a 42% gross IRR on realized investments and individual investment returns as high as 48%. The CLS Living subsidiary operates the properties under a hospitality-infused model, managing over 30,000 beds and 10,300 units across 47 locations and earning industry recognition including the Student Housing Business Innovator Award and Great Place To Work certification. Revenue streams include rental income from owned student housing assets, property management fees from CLS Living operations on both owned and third-party assets, and transaction-related fees from acquisition and disposition activity.

The go-to-market is relationship-driven enterprise sales to institutional investors and co-investment partners for fund commitments, paired with direct property acquisitions sourced through deep industry relationships and joint ventures with capital partners such as Prospect Capital. The company is entirely founder-owned with no disclosed institutional sponsors, maintaining a lean 11-50 employee base. Distribution is exclusively domestic within the United States, and marketing relies on direct investor relationships, an investor login portal, and earned media coverage through real estate trade publications.

Name

Vesper Holdings

Legal name

Vesper Holdings LLC

Website

https://vesperholdings.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Student Housing Real Estate Investment

NAICS

Portfolio Management and Investment Advice (523940), Offices of Real Estate Agents and Brokers (5312)

SIC

Investment Advice (6282), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate M&A / Joint Venture Advisory (Platform Deals, Partnerships) (BPAJANAF)

Keywords

• Student housing investment
• Real estate investment
• Property management services
• Multifamily portfolio
• Off-market acquisitions

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Real Estate Investment Returns: Returns generated through appreciation of student housing properties, rental income from student tenants, and profit distributions to investment partners. Vesper's 42% gross IRR on realized investments demonstrates the returns profile for investors.
2. Property Management Fees: CLS Living, Vesper's wholly-owned property management subsidiary, manages over 30,000 beds and 10,300 units, generating management fees from property operations.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Vesper Holdings is a privately held real estate investment firm that acquires, repositions, and manages student housing properties across the United States. Through its vertically integrated model—including the CLS Living property management subsidiary—the firm sources off-market student housing transactions, applies design and amenity upgrades, and delivers risk-adjusted returns to institutional investors and limited partners.

Product overview

Vesper Holdings operates as a vertically integrated real estate investment firm with two primary offerings: the core investment business (Vesper Holdings) and its property management subsidiary (CLS Living). The investment arm focuses on acquiring and repositioning student housing properties, while CLS Living provides the operational property management services, creating a unified investment-to-operations model for student housing assets.

Differentiator

Problem solved

Functional benefit

Brands

• CLS Living: Vesper Holdings' wholly-owned property management subsidiary providing innovative student housing management with cutting-edge designs, resort-style amenities, and hospitality-infused operations. Manages over 30,000 beds and 10,300 units in 47 locations.

Products and services

• Vesper Holdings Student Housing Investment Platform A private equity real estate investment platform that sources off-market student housing transactions, executes acquisitions, and delivers returns to institutional investors and limited partners across a portfolio of 30,000+ beds in 21+ states.
• Vesper Student Housing Acquisition Fund A dedicated fund vehicle for deploying capital into student housing acquisitions, generating returns through property appreciation and rental income distributed to investment partners.
• CLS Living Property Management Vesper Holdings' wholly-owned property management subsidiary providing hospitality-infused management for student housing communities, managing over 30,000 beds and 10,300 units across 47 locations with cutting-edge design and resort-style amenities.

Quantifiable outcome

• 42% gross IRR on realized investments
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators9 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• The Scion Group: Private student housing owner, operator, and developer with a vertically integrated investment and on-site management model. Highly comparable to Vesper — Vesper's CAO Douglas Kligman previously led acquisitions at Scion, evidencing direct model overlap.
• Landmark Properties: Vertically integrated student housing developer, owner, and operator with a national portfolio. Closely comparable to Vesper in strategy — acquires, develops, and manages purpose-built student housing near top universities.
• Cardinal Group Companies: Real estate investment and management firm with dedicated student housing and multifamily divisions. Directly comparable to Vesper in that it owns, operates, and manages student housing communities across multiple U.S. university markets.
• Campus Apartments: Philadelphia-based private student housing owner, operator, and developer with a vertically integrated model. Comparable to Vesper in scale and strategy — both pursue ownership and third-party management of student housing near major universities.
• The Annex Group: Private student housing developer and owner focused on university-adjacent communities. Comparable to Vesper as a purpose-built student housing owner pursuing both acquisitions and ground-up development.
• Balfour Beatty Campus Solutions: Developer and operator of student housing communities, often in partnership with universities. Comparable to Vesper in student housing focus and ownership/operating model, though typically structured around public-private university partnerships.
• Pierce Education Properties: Student housing owner, operator, and developer specializing in off-campus communities near major universities. Closely comparable to Vesper in that it combines investment ownership with on-site student housing management.

Broad incumbents

• Greystar Real Estate Partners: Largest U.S. residential property manager and a major student housing owner following its acquisition of EdR. Operates a broader multi-family and student housing platform with materially greater scale than Vesper.
• American Campus Communities: Was the largest publicly-traded student housing REIT before being taken private by Blackstone. Operates an investment + on-site management model focused on student housing on and off campus — directly comparable in asset class, far larger in scale.

Regional players

• Rittenhouse Realty Advisors: Philadelphia-based investment sales firm that built a national student housing capital markets practice under former Co-Head Douglas Sitt (now Vesper's CIO). Adjacent rather than directly competitive, but a relevant comparable for Vesper's deal-sourcing and capital markets capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/VesperHoldings
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/vesper-holdings-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vesper Holdings