01
The opportunity
September 2016
Acquire with a clear leasing focus.
HH Fund sourced the 323-bed property off-market and assumed management at acquisition, bringing a coordinated approach to leasing and operations.
Portfolio / Investment Case Study
HH Midtown: a full investment cycle.
A university-focused leasing strategy and active operations, carried through to a completed sale.
Full-cycle exit
Connecting a property with university demand.
An off-market acquisition in Baltimore offered an opportunity to serve demand from the Johns Hopkins and Morgan State university markets. HH Fund brought leasing and property operations together under in-house management.
- Location
- Baltimore, Maryland
- Property
- 323 beds · 114 units
- Period covered
- September 2016 – July 2025
323Student housing bedsBaltimore, Maryland
+105%NOI growth over the holdSeptember 2016 – July 2025
2.66xNet multiple on invested capitalThrough the July 2025 sale
How we put the plan into practice.
02
Our approach
2016–2025
Broaden demand and improve operations.
A Morgan State master lease, international leasing, and dynamic pricing supported operating performance. Net operating income increased 105% over the hold, and investor distributions were paid in every year of ownership, including 2020 and 2021.
03
The outcome
July 2025
Complete the investment cycle.
Following nearly nine years of ownership, HH Fund completed a third-party sale, repaid the property’s loan in full, and delivered a 2.66x net multiple on invested capital.
From sourcing to execution.
HH Midtown demonstrates how a focused leasing plan and active property management can support an investment through a full ownership cycle.
Explore Our StrategyAbout this example.
Selected as the platform’s first full-cycle third-party sale. Results cover September 2016 through July 2025. Net MOIC is cumulative net investor distributions divided by original investor equity, based on fund cash-flow records.
This example is not representative of all investments. Past performance is not indicative of future results.
Source: HH Group investment and operating records, as summarized in the case-study materials.
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Contact investor relations for further information about the investment, its reporting period, and the applicable performance methodology.