Hawkins Way Capital Joint Venture Acquires East Village Property to Expand Student Housing Portfolio

Hawkins Way Capital, in partnership with Varde Partners, has completed the acquisition of a student housing property located at 81 E. 3rd St. in Manhattan's East Village for $28 million. This off-market transaction, announced on August 5, 2026, represents a strategic addition to Hawkins Way Capital's FOUND Study student housing portfolio, further solidifying its presence in a high-demand urban market.

The property at 81 E. 3rd St. was previously developed and operated as a privately owned student residence, featuring apartment-style layouts that enhance the living experience for students compared to traditional dormitory setups. Its flexible design allows for long-term optionality, enabling the property to cater to both student housing and conventional multifamily uses. Situated in a densely populated area with a significant student demographic, the property is in close proximity to major educational institutions, including New York University, making it an attractive asset for student housing.

This acquisition aligns with the strategic objectives of Hawkins Way Capital and Varde Partners, which focus on acquiring well-located urban student housing assets in markets characterized by strong student demand, limited housing supply, and favorable long-term real estate fundamentals. The East Village has been a targeted market for Hawkins Way Capital due to its concentration of students and its enduring real estate appeal. The acquisition is expected to bolster the joint venture's portfolio and enhance its ability to meet the growing demand for quality student housing in the area.

Hawkins Way Capital is a vertically integrated real estate investment firm managing over $3 billion in assets, with a focus on value-add and opportunistic investments across various asset classes and geographies. The firm leverages its extensive network and investing experience to execute strategies that yield attractive risk-adjusted returns. Varde Partners, a global investment firm with a specialization in credit and credit-related assets, complements Hawkins Way's investment approach with its expertise in real estate and asset-based finance.

The acquisition of 81 E. 3rd St. is indicative of broader trends within the real estate sector, particularly in urban markets where student housing demand continues to rise. As educational institutions expand and urban living becomes increasingly desirable, investments in well-located student housing properties are likely to remain a focal point for real estate investors. This transaction not only enhances the FOUND Study portfolio but also underscores the importance of strategic acquisitions in meeting the evolving needs of urban student populations.