NEW YORK, NY – Hawkins Way Capital, a vertically integrated real estate investment firm with over $3 billion in assets under management, along with joint venture partner Varde Partners, announce the acquisition of 81 E. 3rd St., a student housing property located in Manhattan’s East Village. Bought for $28 million, the off-market transaction marks a strategic addition to the growing FOUND Study student housing portfolio and expands the platform’s presence in one of New York City’s most sought-after neighborhoods.
Previously developed and operated as a privately owned student residence, the property features apartment-style layouts that offer an enhanced living experience, compared to traditional dormitory accommodations. Its flexible design also provides long-term optionality, with the ability to serve both student housing and conventional multifamily uses.
Located in the heart of the East Village, the property sits within one of Manhattan’s densest student populations and is in close proximity to major educational institutions, including New York University. The acquisition aligns with the joint venture’s long-term investment strategy of acquiring well-located urban student housing assets in markets driven by strong student demand, multiple academic institutions, limited housing supply, and long-term real estate value.
“The East Village has long been a market we have targeted, given its concentration of students, proximity to leading universities, and enduring real estate fundamentals,” said Ross Walker, Managing Partner, Hawkins Way Capital. “This acquisition expands our JV’s presence in one of Manhattan’s most dynamic neighborhoods and reinforces our strategy of investing in well-located urban student housing assets positioned to benefit from sustained demand.”
The acquisition further advances Hawkins Way Capital’s broader FOUND Study strategy, which provides high-quality, affordable housing options by way of acquiring well-located urban and select other assets that serve both students and academic institutions in markets with limited housing supply and strong long-term fundamentals.

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HOUSTON, TX – Spirit Investment Partners, in partnership with Strategic Value Partners (“SVP”), a global alternative investment firm, on behalf of its and its affiliates managed investment funds and accounts, announced the off-market acquisition of an 895-unit multifamily portfolio from Resia, the U.S. multifamily real estate and modular manufacturing subsidiary of Brazil’s largest homebuilder, MRV & Co. The portfolio comprises of the 573-unit Resia Ten Oaks community in Houston and the 322-unit Resia Rayzor Ranch community in Denton, Texas. Terms of the transaction were not told.
Completed in 2024, the Resia Ten Oaks and Resia Rayzor Ranch properties are high quality multifamily assets featuring modern amenities and finishings typically associated with Class A properties. While both communities are in attractive, high-growth Sunbelt markets they were delivered during a temporary period of elevated new supply that ultimately impacted lease up and operating performance.
“This transaction reflects our strategy of investing in high-quality real assets where strong underlying fundamentals are overshadowed by periods of market dislocation,” said Mike Ungari, Global Head of Real Estate at SVP. “Furthermore, by partnering with experienced operators like Spirit, to source proprietary opportunities, we are able to go quickly on compelling investment opportunities and make long-term value through a combination of thoughtful capital and active asset management.”
Spirit will rebrand the properties, complete the lease up and stabilize operations. Affiliate Spirit Management Services, specializing in managing transitional assets, will take over as property manager for both the Resia Ten Oaks and Resia Rayzor Ranch properties.
Tom Scott, of Spirit Investment Partners, who sourced the transaction, remarks “We’re finding more opportunities like these, where well conceived projects ran into oversupply headwinds and struggled to reach stabilization. “In partnership with SVP, we have the capital and the flexibility to solve these problems for property owners quickly and discretely for the right opportunities. This is only the beginning of what we expect to be an active period of growth for Spirit.”
Oaktree provided the acquisition financing for the portfolio that was arranged by Jamie Leachman and Carter Wroblewski from JLL.

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SEATTLE, WA – Security Properties, a Seattle-based real estate investment firm with more than $6 billion in assets under management, announced the acquisition of Langara, a 134-unit apartment and townhome community in Issaquah, Washington, for $55.1 million, or approximately $411,000 per unit. The acquisition was made in partnership with RGA ReCap Incorporated (ReCap Real Estate Investments) on behalf of Reinsurance Group of America, Incorporated (RGA).
Langara marks the 12th market-rate acquisition for Security Properties Fund VII, the firm’s latest investment vehicle, which held its final close in April 2026 with $124 million in commitments. The community comprises 100 apartment homes and 34 townhomes in one of the Eastside’s strongest submarkets. Proximity to major employment hubs, highly rated schools, access to outdoor recreation, and limited new supply made Langara a natural fit for the Fund’s portfolio.
As part of the business plot, Security Properties will complete full interior renovations across all apartment units, delivering a meaningfully upgraded living experience. Plotted improvements include vinyl plank flooring, stainless steel appliances, quartz countertops, tile backsplashes, under-cabinet lighting, refreshed cabinetry and fireplaces, and modern lighting, hardware, and bathroom finishes.
The townhome portfolio will receive the same renovation package. In addition, Security Properties will convert the community’s largest townhome floor plot from three bedrooms to four, expanding rental value and broadening Langara’s appeal to larger households, a demographic underserved by most Eastside multifamily supply.
“Langara is a compelling opportunity to bring a well-located asset up to the standard today’s Issaquah renter expects,” said Mark Bates, Chief Investment Officer at Security Properties. “The Eastside has strong employment fundamentals and very small new supply, and nearly none of what does get built serves larger families. Converting our largest townhomes to four bedrooms addresses that gap directly while making durable value for our investors.”
The acquisition further deepens Security Properties’ presence on Seattle’s Eastside, where the firm has operated for decades and continues to serve as a market leader.

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