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Hawkins Way JV buys East Village student housing for $51.5 million
The acquisition at 135 E. 12th St. will be renovated and repositioned under the FOUND Study platform.
Hawkins Way Capital, along with its joint venture partner Varde Partners, has acquired 135 E. 12th St., a student housing property in New York City’s East Village educational district, ConnectCRE reported.
The outlet said the reported purchase price was $51.5 million. The building previously operated as Loeb Hall, a residence hall for The New School.
ConnectCRE added that the property is slated for renovations and will be repositioned under the FOUND Study platform. The deal is the third FOUND Study property Hawkins Way has acquired in Manhattan year to date, according to the outlet.
In comments carried by ConnectCRE, Hawkins Way managing partner Ross Walker said the neighborhood location and existing student housing infrastructure made the asset a good fit to expand the FOUND Study platform and deliver student accommodations.