Hawkins Way Capital joint venture acquires property to expand student housing portfolio

Manhattan, NY Hawkins Way Capital, a vertically integrated real estate investment firm with over $3 billion in assets under management, along with joint venture partner Varde Partners, completed the acquisition of 81 E. 3^rd St., a student housing property located in the East Village. Acquired for $28 million, the off-market transaction marks a strategic addition to the growing FOUND Study student housing portfolio and expands the platform’s presence in one of the city’s most sought-after neighborhoods.

Previously developed and operated as a privately owned student residence, the property features apartment-style layouts that offer an enhanced living experience, compared to traditional dormitory accommodations. Its flexible design also provides long-term optionality, with the ability to serve both student housing and conventional multifamily uses.

Located in the heart of the East Village, the property sits within one of the densest student populations and is in close proximity to major educational institutions, including New York University. The acquisition aligns with the joint venture’s long-term investment strategy of acquiring well-located urban student housing assets in markets driven by strong student demand, multiple academic institutions, limited housing supply, and long-term real estate value.

“The East Village has long been a market we have targeted, given its concentration of students, proximity to leading universities, and enduring real estate fundamentals,” said Ross Walker, managing partner, Hawkins Way Capital. “This acquisition expands our JV’s presence in one of Manhattan’s most dynamic neighborhoods and reinforces our strategy of investing in well-located urban student housing assets positioned to benefit from sustained demand.”

The acquisition further advances Hawkins Way Capital’s broader FOUND Study strategy, which provides high-quality, affordable housing options by way of acquiring well-located urban and select other assets that serve both students and academic institutions in markets with limited housing supply and strong long-term fundamentals.