Hawkins Way Capital Joint Venture Acquires Upper West Side Property to Expand Student Housing Portfolio

Hawkins Way Capital, in partnership with Varde Partners, has successfully acquired a 382-unit student housing property located at 117 W 70th St on Manhattan's Upper West Side for $80 million. This transaction, announced on June 16, 2026, represents a significant expansion of the joint venture's urban student housing portfolio, which now encompasses over 6,000 beds across various locations in New York City.

The property will continue to be operated by the American Musical and Dramatic Academy (AMDA) under a long-term lease agreement, ensuring that the institution maintains its presence in the highly sought-after Manhattan market. This acquisition aligns with Hawkins Way Capital's strategic focus on providing high-quality, affordable housing options for students in urban environments, particularly in areas characterized by limited housing supply and strong demand.

Hawkins Way Capital, a vertically integrated real estate investment firm with over $3 billion in assets under management, has positioned itself as a leader in the student housing sector. The firm's FOUND Study platform emphasizes partnerships with academic institutions, allowing for flexible occupancy and operational structures tailored to the needs of both students and educational entities. The acquisition of 117 W 70th St not only enhances the joint venture's portfolio but also deepens its collaborative relationship with AMDA, which has previously operated the property as a dormitory.

The Upper West Side is recognized for its proximity to several academic institutions, making it an attractive location for student housing investments. The area is characterized by a supply-constrained real estate market, which further underscores the strategic rationale behind this acquisition. By focusing on well-located urban properties, Hawkins Way Capital and Varde Partners are well-positioned to capitalize on the growing demand for student housing in prime urban neighborhoods.

This transaction reflects broader trends in the real estate market, particularly the increasing interest in urban student housing as a viable investment strategy. As demand for affordable housing options in metropolitan areas continues to rise, investors are likely to seek opportunities that offer long-term growth potential. The collaboration between Hawkins Way Capital and Varde Partners exemplifies a proactive approach to navigating the complexities of the real estate landscape, emphasizing the importance of strategic partnerships in achieving sustainable growth in the sector.