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US: Hawkins Way Capital and JV partner Varde Partners have acquired 135 E. 12th St., a PBSA property located in the East Village’s educational district in Manhattan.
The transaction marks Hawkins Way’s third consecutive acquisition this year of a FOUND Study property in Manhattan, further strengthening the growing FOUND Study student housing portfolio and expanding the platform’s presence in one of New York City’s most student-dense neighbourhoods.
Previously operated as Loeb Hall, a residence hall for The New School, the property will undergo renovations and be repositioned under the FOUND Study platform.
The property is surrounded by academic institutions, including New York University, The New School, The Cooper Union, School of Visual Arts, Baruch College, St. John’s University and the Fashion Institute of Technology. The property benefits from the energy and amenities of the East Village while maintaining close proximity to renowned academic, cultural and dining destinations. Its location also provides residents with exceptional access to multiple subway lines, including the 4, 5, 6, N, Q, R, W and L trains, offering convenient connectivity throughout Manhattan and the surrounding boroughs.
“We’ve long been looking for the right opportunity in this neighbourhood, and this property represents an ideal addition to our portfolio,” said Ross Walker, managing partner at Hawkins Way Capital. “Its location, existing student housing infrastructure and flexibility put us in an ideal position to deliver high-quality accommodations in one of the country’s strongest urban student housing markets while continuing to expand the FOUND Study platform.”
Hawkins Way Capital is a fully vertically integrated real estate company with $3 billion of assets under management, focusing on value-add and opportunistic investments across various asset classes and geographies.
Highlights:
- Hawkins Way Capital and JV partner Varde Partners have acquired 135 E. 12th St., a PBSA property located in the East Village’s educational district in Manhattan.
- The transaction marks Hawkins Way’s third consecutive acquisition this year of a FOUND Study property in Manhattan
- Previously operated as Loeb Hall, a residence hall for The New School, the property will undergo renovations and be repositioned under the FOUND Study platform
