Hawkins Way Capital Expands Student Housing with New Acquisition

Hawkins Way Capital Expands Student Housing with New Acquisition

Hawkins Way Capital, a prominent player in the real estate sector, has recently announced a strategic acquisition that marks a significant milestone in its journey. The company has acquired Varsity Berkeley, which is set to be transformed into FOUND Study Downtown Berkeley. This project underscores Hawkins Way Capital's commitment to addressing the growing demand for student housing designed with contemporary living in mind.

A Mission to Enhance Student Living

Ross Walker, Managing Partner at Hawkins Way Capital, highlighted the transformative potential of this acquisition. "This acquisition represents an opportunity for Hawkins Way Capital to create strategic value in a market where student housing demands continue to grow," he remarked. The firm aims to provide students with comfortable, convenient, and affordable accommodations, allowing them to focus on their education without the burden of housing concerns.

Your Home Away from Home

Located in a vibrant area of downtown, Varsity Berkeley provides easy access to local attractions, which is ideal for students. The property is within walking distance to major highlights such as Trader Joe's, Amoeba Music, and the Berkeley Art Museum. Its proximity to key transportation lines, including the Orange and Red Bus Lines and the BART station, allows students to navigate the city and fully experience the local culture.

Modern Amenities for Enhanced Living

The acquisition of Varsity Berkeley adds to Hawkins Way Capital's commitment to offering high-quality student housing. The property boasts 159 bedrooms, including studios and two- to three-bedroom units. Students will enjoy numerous amenities, such as a rooftop terrace that provides stunning views of the San Francisco Bay, a renovated residential lounge, a cozy courtyard with a fire pit, electric vehicle charging stations, and dedicated bike storage. These features cater to the diverse needs of the student body.

Upcoming Renovations and Improvements

Starting in the summer of 2025, Hawkins Way Capital plans to begin substantial renovations to modernize the units, making them more appealing to potential residents. The updates will respond to the growing need for quality housing options among students of UC Berkeley and help mitigate the current housing shortages in the area.

Integrating into the FOUND Study Brand

This newly acquired property will now be a part of Hawkins Way Capital's successful FOUND Study brand, which is expanding rapidly and is nearing 7,000 beds offered to students. The focus remains on enhancing the living experience, ensuring that each space is safe, well-maintained, and conducive to academic success.

Creating Community and Convenience

With the transition to FOUND Study Downtown Berkeley, the property will foster a sense of community among students, offering enriched living environments that promote both personal and academic growth. This integration promises to support the dynamic student life in Berkeley while ensuring that students have access to affordable, quality housing.

About Hawkins Way Capital

Hawkins Way Capital is recognized as a fully integrated real estate company with a robust asset management portfolio worth approximately $3 billion. The firm focuses on value-add investments across multiple asset types and regions, strategically targeting opportunities that yield attractive risk-adjusted returns. Leveraging their deep investing expertise and extensive network, Hawkins Way Capital is committed to generating long-term value in their initiatives.

About FCL Management

FCL Management stands out as a leader in managing high-performing properties in some of the nation’s fastest-growing metropolitan areas. Their hands-on approach allows them to collaborate closely with renowned hotel brands and educational institutions, creating tailored housing solutions that meet diverse needs.

Frequently Asked Questions

What is the purpose of Hawkins Way Capital's new acquisition?

The acquisition of Varsity Berkeley aims to transform the property into FOUND Study Downtown Berkeley, enhancing student housing options.

What amenities will be available at the Varsity Berkeley property?

The property will feature a rooftop terrace, renovated lounge, courtyard with a fire pit, electric vehicle charging stations, and bike storage facilities.

When are the planned renovations for the property?

Renovations are scheduled to begin in the summer of 2025, aimed at modernizing the living spaces.

How will the acquisition benefit students?

The acquisition seeks to provide safe, affordable, and high-quality accommodations that support academic success for students.

What additional initiatives does Hawkins Way Capital have for student living?

Hawkins Way Capital is committed to expanding its FOUND Study brand, which focuses on creating community-oriented living environments for students.

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