Hamilton Point Returns $53M to Investors on Two Fund IX Sales

Hamilton Point Investments LLC has returned $53 million to investors in HPI Real Estate Fund IX following the full-cycle sale of two properties – Campus Lodge in Columbia, Mo., and Xenia Trails in Xenia, Ohio – the company said.

Campus Lodge, a by-the-bed student housing property, was acquired in June 2022 for $28 million and sold in August 2026 at a profit, according to Hamilton Point. Rents at the property averaged $308 per bed at acquisition and had climbed to more than $592 by the time of sale, a 92% increase. The property was one of a handful of student housing assets Hamilton Point acquired to take advantage of COVID-era disruptions in higher education operations, according to the firm.

Xenia Trails, a standard multifamily property, was also sold at a profit. Hamilton Point acquired the asset in March 2022 for $35.5 million and recently associated it with the $27.9 million HPI Deer Creek DST; rents averaged $750 per unit at acquisition and had risen to more than $1,170 by the time of sale, a 56% increase. The company said it grew net operating income at the property by more than 30% over the four-year hold, resulting in a profitable sale despite interest rate volatility.

HPI Real Estate Fund IX raised $195 million and closed to new investors in February 2022. The fund acquired 12 apartment properties for approximately $371 million, not including capital improvements. The sales of Campus Lodge and Xenia Trails mark the fund’s seventh and eighth property dispositions, all profitable, Hamilton Point said. The remaining four properties are expected to be liquidated by the second quarter of 2027.

AltsWire has reported on Fund IX’s earlier dispositions. In July 2026, the fund sold The 2900, a student housing property in Norman, Okla., returning $9 million to investors in a special distribution, the fund’s sixth disposition at the time. Before that, in February 2025, the fund sold two other student housing properties, The Oliver in Baton Rouge, La., and 21 Oaks in Columbia, S.C., for a combined $67.9 million, a 53.4% increase in value in less than two years.

“Hamilton Point was careful about deploying capital in 2022 at what was later determined to be the peak of the apartment market. We took advantage of short-term distress in university or student housing markets caused by an overreaction to COVID-19 to add opportunistic investment to our core business of standard apartment properties in need of management and/or capital improvement,” said Joshua Grenier, president of Hamilton Point Investments.

Since its inception in 2009, Connecticut-based Hamilton Point has acquired more than 35,000 apartment units with a total value of $5 billion, according to the company. The firm has taken eight funds and seven Delaware statutory trusts full cycle, all within a three- to six-year hold period, with a weighted average internal rate of return of 17.1% net to investors.

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