$1 billion in assets under management is the milestone HH Group reports crossing after acquiring Varsity on K, a student housing property near George Washington University in Washington, D.C. The firm did not disclose a purchase price or financing terms.
The acquisition extends HH Group's existing Washington presence and adds to a portfolio the firm describes as national in scope. The investment thesis behind the deal is the same one HH Group applies across its holdings: find university-anchored submarkets where enrollment sustains demand and supply additions are constrained. The area around GWU fits that screen, as the firm characterizes it.
Varsity on K is the named property on both counts, the D.C. expansion and the AUM threshold. No operating metrics accompanied the announcement. Unit count, occupancy, and projected yield were not disclosed.