Hamilton Point Sells Sixth Fund IX Asset, Returns $9M in Special Distribution

Hamilton Point Investments LLC has returned $9 million to investors in HPI Real Estate Fund IX through a special distribution following the full-cycle sale of The 2900, a student housing property in Norman, Okla., the company said.

The Connecticut-based real estate private equity firm acquired The 2900 in June 2022 for $18.5 million. At the time of purchase, rents at the property averaged $1,249 per unit; by the time of sale, rents had climbed to more than $1,700, a 36% increase, according to the company. The 2900 is a by-the-bed student housing investment and one of a handful Hamilton Point acquired taking advantage of COVID-era disruptions in higher education operations, alongside the fund’s core holdings of standard multifamily assets.

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 sale of The 2900 marks the sixth property disposition from the fund, all of which have been profitable, according to Hamilton Point. The remaining six properties are expected to be liquidated by the end of 2026 or the first quarter of 2027.

AltsWire has tracked Fund IX’s earlier dispositions. In February 2025, the fund sold two 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 over-reaction 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, Hamilton Point has acquired more than 35,000 apartment units with a total fund investment 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 – a tally Hamilton Point reached with the full liquidation of HPI Real Estate Fund VIII in June. Hamilton Point said it anticipates Fund IX will go full cycle within the next nine months.

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