Hawkins Way Capital Expands Student Housing with New Acquisition
Hawkins Way Capital, a key player in the real estate market, has recently shared news of an important acquisition that marks a notable step in its mission. The company has taken over Varsity Berkeley, which will soon be transformed into FOUND Study Downtown Berkeley. This venture highlights Hawkins Way Capital's dedication to meeting the increasing need for student housing that is thoughtfully designed for modern living.
A Mission to Enhance Student Living
Ross Walker, Managing Partner at Hawkins Way Capital, discussed the exciting possibilities this acquisition brings. "This acquisition represents an opportunity for Hawkins Way Capital to create strategic value in a market where student housing demands continue to grow," he stated. The company aims to provide students with comfortable, convenient, and affordable places to live, ensuring they can concentrate on their studies without worrying about housing issues.
Your Home Away from Home
Nestled in a lively part of downtown, Varsity Berkeley offers students easy access to local hotspots. Important locations like Trader Joe's, Amoeba Music, and the Berkeley Art Museum are just a short walk away. Additionally, the property’s proximity to major transportation options—like the Orange and Red Bus Lines and the BART station—makes it easy for students to explore the city and immerse themselves in the local culture.
Modern Amenities for Enhanced Living
By acquiring Varsity Berkeley, Hawkins Way Capital reinforces its commitment to delivering top-notch student housing. This property features 159 bedrooms across studio, two-, and three-bedroom units. Residents will have access to great amenities, including a rooftop terrace with breathtaking views of the San Francisco Bay, a redesigned residential lounge, a cozy courtyard with a fire pit, electric vehicle charging stations, and dedicated bike storage. These offerings cater to the varied needs of the student community.
Upcoming Renovations and Improvements
Beginning in the summer of 2025, Hawkins Way Capital will undertake significant renovations aimed at modernizing the living areas, making them more attractive to future residents. These updates are a response to the increasing demand for quality housing options among UC Berkeley students, addressing the existing housing shortages in the area.
Integrating into the FOUND Study Brand
This newly acquired property will join Hawkins Way Capital's rapidly growing FOUND Study brand, which is nearing 7,000 beds available for students. The focus remains on improving the living experience, ensuring that every space is safe, well-maintained, and conducive to achieving academic goals.
Creating Community and Convenience
As it transitions to FOUND Study Downtown Berkeley, the property will cultivate a sense of community among students, providing enriched living environments that encourage both personal development and academic success. This integration promises to support the engaging student life in Berkeley, ensuring that students have access to quality, affordable housing.
About Hawkins Way Capital
Hawkins Way Capital is recognized as a fully integrated real estate firm with an impressive asset management portfolio valued at around $3 billion. The company focuses on value-add investments across various asset types and locations, strategically seeking out opportunities that offer favorable risk-adjusted returns. With their extensive investing experience and deep network, Hawkins Way Capital is devoted to creating long-term value in their projects.
About FCL Management
FCL Management excels in overseeing high-performing properties in some of the fastest-growing cities in the nation. Their hands-on management style allows them to work closely with well-known hotel brands and educational institutions, crafting tailored housing solutions that meet a variety of needs.
Frequently Asked Questions
What is the purpose of Hawkins Way Capital's new acquisition?
The purpose of acquiring Varsity Berkeley is 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 offer a rooftop terrace, a renovated lounge, a courtyard with a fire pit, electric vehicle charging stations, and bike storage facilities.
When are the planned renovations for the property?
Renovations are set to start in the summer of 2025, focusing on modernizing the living spaces.
How will the acquisition benefit students?
This acquisition aims to deliver safe, affordable, and high-quality accommodations that support students’ academic success.
What additional initiatives does Hawkins Way Capital have for student living?
Hawkins Way Capital is devoted to growing its FOUND Study brand, which focuses on creating community-driven living environments for students.
