HPP Equity has purchased Campus Court at Knollwood, an 834-bed student housing community in Kalamazoo, Michigan, near Western Michigan University. As part of the acquisition, HPP Equity has appointed HH Red Stone as the property management partner for the community.
The arrangement brings together HPP Equity’s investment focus and ownership oversight with HH Red Stone’s national property management platform. According to Justin Kain, CEO and founder of HPP Equity, the firm viewed Campus Court as a well-located property with solid underlying fundamentals and identified an opportunity to enhance the experience for residents. Kain noted that HPP Equity sought a management partner that would operate the community in close alignment with ownership, emphasizing direct communication and accountability at the property level.
HH Red Stone is being engaged specifically for its management capabilities and owner-aligned structure. The partnership is intended to integrate investment strategy and day-to-day operations, with HH Red Stone overseeing on-site management and HPP Equity providing strategic direction as the new owner. Both organizations aim to coordinate closely on the execution of an improvement plan tailored to student renters at Western Michigan University.
HPP Equity has outlined a capital investment program focused on both amenity enhancements and practical property upgrades. Planned improvements include repaving the parking lot and adding more than 200 additional parking spaces, a change aimed at addressing a functional need for residents. The program also calls for the introduction of a new dog park, upgrades to the community’s fitness center, and a series of apartment interior improvements.
Campus Court at Knollwood serves students in the Western Michigan University housing market, offering studio, one-, two-, three-, and four-bedroom apartments. The community’s amenities, which will be supplemented through HPP Equity’s investment program, are intended to support a range of living arrangements for students seeking off-campus housing options near the university.
The transaction underscores continued investor interest in student housing communities adjacent to major university campuses, where property-level upgrades can be used to enhance competitiveness and resident experience. While financial terms of the acquisition were not disclosed, the parties have made clear that operational alignment between ownership and management is a central element of the business plan at Campus Court.
