Hawkins Way Capital, a fully integrated real estate company with $3 billion in assets under management, has acquired Varsity Berkeley student housing in Northern California. This marks the fifth acquisition for Hawkins Way Capital in this region. The terms of the deal were not disclosed. The property will be rebranded as FOUND Study Downtown Berkeley and managed by FCL Management.
According to Ross Walker, managing partner at Hawkins Way Capital, this acquisition presents an opportunity for strategic growth in a market where there is high demand for student housing. By transforming Varsity Berkeley into FOUND Study Downtown Berkeley, they aim to provide students with comfortable and affordable accommodations so they can focus on their education without worrying about finding suitable living arrangements.
Varsity Berkeley offers 159 bedrooms including studios and two- and three-bedroom units. In summer 2025, Hawkins Way Capital plans to upgrade all units with a more modern aesthetic that reflects their FOUND Study brand’s style. With this latest addition of Varsity Berkley under its belt, the company’s total number of beds managed by its FOUND Study brand is approaching 7
