Premier Student Housing Acquisition will be
the Newest FOUND Study Location, Operated by FCL Management
BEVERLY
HILLS, Calif., Sept. 20,
2024 /PRNewswire/ -- Hawkins Way Capital, a
fully vertically integrated real estate company with $3 billion of assets under
management, announces today its acquisition of Varsity
Berkeley in Berkeley, California. Marking the company's
fifth acquisition in Northern
California, this property is set to become FOUND Study
Downtown Berkeley and will be managed by FCL
Management, an operator of high performing assets in the
country's fastest growing cities.
"This acquisition represents an opportunity for Hawkins Way
Capital to create strategic value in a market where student housing
demands continue to grow," said Ross
Walker, Managing Partner, Hawkins Way Capital. "By
transforming the property into FOUND Study Downtown Berkeley, we
are helping to ease students' stress of finding comfortable,
convenient and affordable accommodations, allowing them to fully
concentrate on their education."
Located in the heart of downtown Berkeley, just steps away from an array of
boutiques, dining options, and exciting activities, Varsity
Berkeley offers convenience and ease for students. Providing close
proximity to Trader Joe's, Amoeba Music, the Berkeley Art Museum,
MLK Jr. Civic Center Park, along with the Orange and Red Bus Lines,
the property also provides access to the only BART station in
Berkeley, inviting students to
immerse themselves in the Berkeley
lifestyle.
Varsity Berkeley features 159
bedrooms including studios, 2-, and 3-bedroom units. Featuring
amenities such as a rooftop terrace offering stunning views of the
San Francisco Bay, a recently renovated residential lounge, a
courtyard complete with a fire pit, electric car charging stations,
and dedicated bike storage, the property is well-positioned to
serve the needs of the vibrant student population.
Hawkins Way Capital plans to upgrade all units to reflect a more
contemporary aesthetic starting in summer 2025. These renovations
aim to meet the increasing demand for high-quality housing options
among UC Berkeley students and address the current housing shortage
in the area. The upgrades will enhance the living conditions for
students and positively contribute to the UC Berkeley neighborhood
by increasing the availability of affordable, quality housing.
Varsity Berkeley will be
integrated into Hawkins Way Capital's successful FOUND Study brand,
now approaching 7,000 beds, committed to enhancing the student
living experience by providing safe, well-maintained spaces that
can support academic success. FOUND Study Downtown Berkeley will
offer an enriched living environment for students in the
Berkeley neighborhood.
For more information about Hawkins Way Capital, please visit:
www.hawkinsway.com
About Hawkins Way Capital
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. The company seeks niche theses
targeting attractive risk-adjusted returns, leveraging the
principals' investing experience and extensive network to execute
strategies that offer long-term value. www.hawkinsway.com
About FCL Management
FCL Management is an operator of
high performing assets in the country's fastest growing cities.
With the expertise of a hands-on team, the company works with
leading hotel brands and academic institutions to create tailored
solutions across its portfolio of hotels, multifamily residences
and student housing. www.fclmgmt.com
Media Contacts:
Greta Vanhersecke
GV Public Relations
Email:
Greta@gvpublicrelations.com
Phone: (917) 751-5037
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SOURCE Hawkins Way Capital