Hawkins Way Capital, a fully vertically integrated real estate company with $3 billion of assets under management, acquired Garden Village, a 77-unit student housing property in Berkeley. Located at 2201 Dwight Way, the latest addition to Hawkins Way’s rapidly growing portfolio is the second FOUND Study property in Berkeley, following the acquisition of Varsity Berkeley in September.

Garden Village is now operating as FOUND Study Southside Berkeley. Both FOUND Study properties are managed by FCL Management, an operator of high-performing assets in select metros across the U.S.

“This acquisition reflects our ongoing commitment to investing in high-quality housing that meets the evolving needs of today’s students and young professionals,” said Ross Walker, managing partner, Hawkins Way. “Boasting modern design, superior amenities, and a prime location, just blocks from UC Berkeley, the latest addition to the FOUND Study brand is another step forward. We are eager to welcome students and create an environment that feels like home.”

Hawkins Way Capital, a fully vertically integrated real estate company with $3 billion of assets under management, acquired Varsity Berkeley student housing in Berkeley, its fifth acquisition in Northern California. Terms were not disclosed. The property is set to be integrated into Hawkins Way’s FOUND Study brand and will be managed by FCL Management.

“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.”. 

Varsity Berkeley features 159 bedrooms including studios and two- and three-bedroom units. Hawkins Way Capital plans to upgrade all units to reflect a more contemporary aesthetic starting in summer 2025. The company’s FOUND Study brand is approaching 7,000 beds.