WASHINGTON D.C. Aug. 17, 2026— Institutional Property Advisors (IPA), a division of Marcus amp; Millichap (NYSE: MMI) dedicated to serving the company’s institutional clients, announced today the sale of Varsity on K, a 197-unit, 212-bed student housing property in the West End neighborhood of downtown Washington, D.C. that serves the more than 19,396 students attending The George Washington University (GWU).
“Varsity on K offered investors a rare opportunity to acquire a core-located, Class A student housing asset adjacent to George Washington University, benefiting from consistent demand in one of the nation’s most desirable and well-connected urban markets,” said Peter Katz, IPA executive managing director of investments. “We appreciate both parties working collaboratively to bring this transaction to a successful close.” Katz, along with IPA senior managing directors of investments, Robert Dean and Jonathan Greenberg, and Brian Hosey, Marcus & Millichap’s broker of record in Washington D.C., represented the seller, Heitman, and procured the buyer, HH Fund.
Built in 1983 and completely renovated in 2017, Varsity on K sits adjacent to campus and just one block from the Foggy Bottom-GWU Metro Station, giving residents easy access to the National Mall, federal offices, and the restaurants, galleries and entertainment of the DC metro area. Residents can walk to GWU’s academic buildings, Medical Center and Hospital in minutes, and the West End’s border with Georgetown provides added proximity to Georgetown University. The neighborhood’s mix of historic charm and upscale, walkable convenience, anchored by the Kennedy Center, Trader Joe’s and Whole Foods, has made it a magnet for GWU students, young professionals and university staff alike.
The property offers fully furnished apartments with 43-inch HDTVs and high-speed Wi-Fi, high-end kitchens with quartz or granite countertops and stainless-steel appliances, full-size in-unit washers and dryers, and many units with plank flooring and large city-view windows. Community amenities include a state-of-the-art fitness center, study rooms, business center, entertainment lounge, indoor garage parking, secure electronic access, and an outdoor courtyard with dining areas, lounge seating, a fire pit and grilling stations. “Varsity on K’s irreplaceable location, renovated interiors and stable occupancy provide the buyer with a durable, well-positioned asset and meaningful opportunity to drive long-term value in one of the country’s most desirable, historic neighborhoods,” added Katz.