Curated News
By: NewsRamp Editorial Staff
September 03, 2026
HH Group Acquires D.C. Student Housing, Tops $1B AUM
TLDR
- HH Group's acquisition of Varsity on K boosts its DC footprint and pushes AUM past $1 billion, signaling strength.
- HH Group acquired Varsity on K, a 197-unit DC property near GWU, and will rebrand it as Haven on K with planned upgrades.
- The repositioning of Haven on K will enhance resident experience with upgraded amenities and a focus on community and belonging.
- Varsity on K offers fully furnished apartments with 43-inch HDTVs and a courtyard with fire pit, steps from GWU.
Impact - Why it Matters
This acquisition underscores HH Group's strategic growth in supply-constrained university markets, enhancing its operational scale and local expertise. For investors and the student housing sector, it signals continued confidence in education-anchored real estate despite market fluctuations. Residents can expect improved amenities and management, while the D.C. market gains a rebranded, upgraded community that meets the needs of students and young professionals.
Summary
HH Group, a vertically integrated private equity real estate firm specializing in student housing and multifamily assets, has announced the acquisition of Varsity on K, a 197-unit apartment community in Washington, D.C.'s West End, adjacent to The George Washington University. The acquisition, completed through HH Fund, marks a significant milestone as it pushes HH Group's assets under management past $1 billion. The property will be rebranded as Haven on K and managed by HH Red Stone, the firm's property management arm, which was recently recognized as a Top 10 Student Housing Company by J Turner Research.
The acquisition expands HH Group's presence in Washington, D.C., a market characterized by high barriers to entry and strong demand drivers. Located at 950 24th Street NW, the property is within walking distance of The George Washington University, the Kennedy Center, and the Foggy Bottom-GWU Metro station, offering convenient access to Georgetown, the White House, and major employment centers. The firm plans to implement a comprehensive repositioning program, including rebranding, targeted capital improvements, operational integration, and centralized asset management.
Key executives expressed confidence in the investment. Gary Chen, Founding Partner and CIO, noted that reaching $1 billion in AUM reflects the discipline behind the firm's growth, while Tony Shen, COO, highlighted the property's irreplaceable location and durable demand. Lee Chen, Managing Director of HH Fund, emphasized the opportunity arising from market sentiment diverging from long-term fundamentals. With over 10,000 beds under management and a portfolio of 28 properties, HH Group continues to expand in university-anchored markets. Learn more at www.HHFund.com and www.HHRedStone.com.
Source Statement
This curated news summary relied on content distributed by Keycrew.co. Read the original source here, HH Group Acquires D.C. Student Housing, Tops $1B AUM
