Värde Partners And Hawkins Way Capital Secure $431M Refinance For Monarch Student Housing Portfolio
525 Lexington Avenue, 119 Columbia Heights & 60 Belvidere Street
$431,000,000
Units
1,257
Asset Type
Student Housing
Closing
Nov 12, 2025
AI
The transaction involved a student housing portfolio comprising three properties located at 525 Lexington Avenue, 119 Columbia Heights, and 60 Belvidere Street. This portfolio offers a total of 2,407 beds across 1,257 units and is situated in the Brooklyn and Boston, MA markets.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: $431,000,000
- Lender: Goldman Sachs & Wells Fargo
- Landlord: Brad Bauer - Värde Partners & Ross Walker - Hawkins Way Capital
- Loan Type: Refinance
Värde Partners and Hawkins Way Capital facilitated this refinance deal for the Monarch student housing portfolio, highlighting the strategic maneuvering of landlords Brad Bauer and Ross Walker in securing substantial financial backing to enhance their property holdings.
Players
New York Student Housing Market Snapshot
Boundary boundary · Student Housing · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93