Hawkins Way Capital and its joint venture partner, Varde Partners, have acquired 135 E. 12th St., a student housing property located in the East Village’s prime educational district. The purchase price was reportedly $51.5 million.
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. It will be the third FOUND Study property Hawkins Way has acquired in Manhattan year to date.
“We’ve long been looking for the right opportunity in this neighborhood, and this property represents an ideal addition to our portfolio,” said Ross Walker, managing partner, 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.”
If you’re reading about the multifamily industry, you should be in the room with its leaders. Connect Apartments brings together the executives featured in Connect CRE’s coverage for an afternoon of high-level insights and unmatched networking on September 22 at The Biltmore in LA.
