Hawkins Way Capital

What Hawkins Way Capital does

Hawkins Way Capital is a privately held, vertically integrated real estate investment firm managing $3 billion in assets on behalf of institutional and individual investors. The firm, founded around 2011 and co-led by Ross Walker and Karan Suri, pursues value-add and opportunistic investments across multiple asset classes and geographies, with a stated focus on niche theses targeting risk-adjusted returns. It operates from a Beverly Hills, California headquarters and a New York satellite office with more than 40 corporate professionals, and runs two principal sub-brands: FOUND Hotels, a lifestyle hospitality platform operated under a strategic partnership with Marriott International through the Series by Marriott collection brand, and FOUND Study, a student housing platform managed by affiliated property management firm FCL Management.

The company's core business activity is capital deployment into real estate assets that are then operated and repositioned through its vertically integrated platform. FOUND Hotels operates properties in Miami, Santa Monica, San Francisco, Chicago, San Diego, and Santa Barbara (including a 150-room rebranded property under Series by Marriott), while FOUND Study supplies 6,000+ beds across supply-constrained New York City markets, plus a 382-unit Manhattan asset (117 West 70th Street, acquired for $80 million via joint venture with Varde Partners) and a Berkeley, California asset (Varsity Berkeley). Revenue is generated through asset management fees on $3 billion AUM, hotel room and hospitality revenue, and student housing rental income; the company also employs long-term master lease structures (e.g., a 30-year lease with American Musical and Dramatic Academy at 117 West 70th Street) to manage operational risk and provide stable tenancy.

Distribution and customer relationships are dominated by institutional and high-net-worth capital on the investment side, branded hospitality partnerships on the hotel side (Marriott International, FCL Management as operator, Sonder as a third-party operator in select cases), and long-term educational institution leases (AMDA) on the student housing side. Recent strategic activity has emphasized portfolio expansion via acquisitions (117 W 70th St., Varsity Berkeley), brand partnership scaling (Series by Marriott conversion of five properties), and selective refinancing (a $5.225 million Symetra loan on the River North Chicago hotel) to support a transition toward self-management. The firm is private, does not publicly disclose financial statements, and is currently actively acquiring properties and forming partnerships.

Name

Hawkins Way Capital

Legal name

Hawkins Way Capital

Website

https://hawkinsway.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Hawkins Way Capital is a privately held, vertically integrated real estate investment firm managing $3 billion in assets across hospitality (FOUND Hotels / Series by Marriott) and student housing (FOUND Study) for institutional and individual investors, headquartered in Beverly Hills with a New York satellite office.

Ownership category

akta.pro rank

Product category

Real Estate Investment Management

NAICS

Portfolio Management and Investment Advice (52394), Real Estate Property Managers (53131), Nonresidential Property Managers (531312), Residential Property Managers (531311)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282)

akta.pro primary industry

Capital Markets Advisory (Equity Placement, JV & Recapitalization) (BPAJABAL)

akta.pro secondary industry

Hospitality (Hotels & Resorts) Asset Management (BPAJAMAE)

Keywords

• Real estate investment
• Asset management
• Student housing
• Hospitality investments
• Value-add real estate

Headquarters

HQ city

Beverly Hills

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Asset Management Fees: Generates fees from managing $3 billion of assets under management on behalf of institutions and individuals for value-add and opportunistic real estate investments.
2. Hotel Operations: Revenue from hotel ownership and management through FOUND Hotels brand and Series by Marriott partnership, including room revenue and hospitality services.
3. Student Housing Operations: Revenue from student housing portfolio through FOUND Study platform, including rental income from properties in Manhattan and Berkeley.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels1 record

Core offering

Hawkins Way Capital is a vertically integrated real estate investment company that manages $3 billion in assets on behalf of institutional and individual investors, executing value-add and opportunistic investment strategies across hospitality, student housing, and other real estate asset classes. The firm operates two proprietary platforms: FOUND Hotels (lifestyle hospitality in partnership with Marriott International's Series by Marriott brand) and FOUND Study (student housing in supply-constrained urban markets), with property operations managed by FCL Management.

Product overview

Hawkins Way Capital operates as a vertically integrated real estate investment company managing $3 billion in assets. The company operates across two primary product platforms: FOUND Study (student housing) and FOUND Hotels (lifestyle hospitality). FOUND Study provides student housing through FCL Management in supply-constrained urban markets, while FOUND Hotels operates lifestyle hotels under a strategic partnership with Marriott International through the Series by Marriott collection brand. The company also pursues value-add and opportunistic investments across various real estate asset classes including hospitality, student housing, and workforce housing through adaptive reuse strategies.

Differentiator

Problem solved

Functional benefit

Products and services

• FOUND Study Student housing platform operated by FCL Management that provides purpose-built housing for students in urban, supply-constrained markets across New York City, Berkeley, and other college towns. The platform comprises more than 6,000 beds across New York City alone through the joint venture with Varde Partners.
• FOUND Hotels Lifestyle hotel brand developed by Hawkins Way Capital in partnership with Marriott International, operating properties across Miami, Santa Monica, San Francisco, Chicago, San Diego, and Santa Barbara. Properties offer extended stay and lifestyle accommodations under the Series by Marriott collection brand, enabling Marriott Bonvoy point earning and redemption at participating hotels.
• Real Estate Asset Management Services Investment management services for institutional and individual investors pursuing value-add and opportunistic real estate investments across multiple asset classes and geographies. Generates management fees on $3 billion of assets under management.

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Marriott InternationalcoreStrategic or Co-development Partner · 23 September 2025Strategic partnership to convert five hotel properties to Series by Marriott brand in key U.S. markets including Miami, Santa Monica, San Francisco, Chicago, and San Diego. Marked the official U.S. debut of Series by Marriott, Marriott's newest collection brand.
• SonderminorChannel Partner/ Reseller/ DistributorHotel operator for River North hotel in Chicago owned by Hawkins Way Capital. Sonder operates the property as part of their hospitality management platform.
• American Musical and Dramatic AcademycoreStrategic or Co-development PartnerEducational institution that sold Stratford Residence Hall at 117 W 70th St to Hawkins Way for $80 million and continues to occupy and operate the property under a 30-year long-term master lease, allowing AMDA to maintain Manhattan presence while venture gains operational flexibility.
• FCL ManagementcoreImplementation/ SI/ Consulting PartnerProperty management company handling operations for all FOUND Hotels properties and student housing properties under the partnership with Hawkins Way Capital.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Pebblebrook Hotel Trust: Publicly traded urban lifestyle hotel REIT focused on upper-upscale independent and lifestyle properties in major gateway markets. Highly comparable to FOUND Hotels' lifestyle positioning and adaptive-reuse investment thesis.
• Hersha Hospitality Trust: Boutique urban hotel owner and operator with a portfolio of lifestyle properties in gateway markets. Comparable to Hawkins Way's focus on boutique hotel repositioning and brand conversions in urban locations.
• Sunstone Hotel Investors: Hotel-focused REIT investing in upper-upscale and luxury properties in gateway markets. Comparable investment strategy to Hawkins Way's hotel acquisition and repositioning approach through FOUND Hotels.
• CA Ventures: Vertically integrated real estate investment manager with significant student housing development and management operations. Closely comparable to Hawkins Way's FOUND Study platform in scale, geography, and operating model.
• Greystar Real Estate Partners: Largest student housing operator and investment manager in the United States. Comparable to FOUND Study on the student housing platform, though at meaningfully greater scale.
• Blue Vista Capital Management: Real estate private equity firm focused on middle-market value-add and opportunistic investments, including student housing. Comparable mid-market alternative real estate investment manager.
• Harrison Street: Alternative real estate asset manager focused on niche, demographically driven property types including student housing. Comparable thematic focus and institutional capital structure.
• AWH Partners: Mid-market hotel investment and asset management firm focused on value-add acquisitions in gateway markets. Closely comparable in size, strategy, and lifestyle hotel repositioning focus.

Broad incumbents

• Starwood Capital Group: Large private real estate investment firm with hotel and alternative sector exposure. Comparable vertically integrated real estate investment model at meaningfully larger scale.
• Brookfield Real Estate: Diversified global real estate investment platform within Brookfield Asset Management. Comparable institutional real estate investment management model, though at vastly greater scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hawkins Way Capital