Hawkeye Towers, a 75-unit, 294-bed student housing community serving the 5,600+ students of Hawkeye Community College in Waterloo, Iowa. Hawkeye Towers is uniquely positioned as the only purpose-built student housing property serving Hawkeye Community College. Located directly across the street from campus, the property offers unmatched proximity, allowing students to easily walk or bike to the academic core. In addition to its strategic location, the asset provides residents with easy access to the centers of both Waterloo and Cedar Falls.

Hawkeye Towers consists of six three-story buildings developed in 2005/2006, totaling 85,785 square feet. The unit mix includes spacious three- and four-bedroom floorplans, with an average unit size of 1,089 square feet. Each apartment features two bathrooms, and all units are designed to accommodate between three to four students, supporting strong rental income per unit.

As the college does not offer any on-campus housing, Hawkeye Towers faces minimal direct competition, making it a rare opportunity to invest in a dominant, irreplaceable asset in a highly underserved market. The property has historically catered to Hawkeye Community College's student athletes, which has further enhanced occupancy consistency and stabilized revenues.

Significant upside remains through value-add initiatives including unit interior upgrades and additional amenity enhancements, allowing new ownership to further position the asset as the top-tier housing option for the student renter in the market. Residents enjoy a robust amenity package tailored to student needs, including:

• A high-speed internet computer lab
• Game room and lounge
• Workout facility and tanning beds
• Lighted basketball and volleyball courts
• Outdoor courtyards and well-lit parking
• 24-hour maintenance service
• Free copying, faxing, and delivery services
• Flexible subleasing options

With no new student housing developments in the supply pipeline and zero on-campus alternatives, Hawkeye Towers offers a one-of-a-kind opportunity to acquire a well-located, purpose-built student housing asset in a market with significant barriers to entry and clear paths to revenue growth.