June 4, 2025 – Newark, DE — Waterway Family Funds LLC (“WFF”) is pleased to announce the acquisition of two premier student housing communities near the University of Delaware: Holly Woods and East Village.
Strategically located adjacent to campus, just steps from the University of Delaware’s core, both properties offer boutique, townhome-style accommodations and were 100% leased at the time of acquisition. Positioned on East Campus, residents enjoy walkable access to academic buildings, student centers, and East Main Street—the University’s primary commercial corridor for shopping, dining, and nightlife.
With an enrollment of over 24,400 students and the University of Delaware’s maintained bed-to-enrollment ratio of only 42%, WFF’s most recent acquisition capitalizes on a favorable supply-demand dynamic for well-located student housing.
This acquisition marks WFF’s sixth project, expanding the firm’s acquisition track record to a total of 139 units, including 414 student beds, and approximately 160,600 square feet of commercial real estate.
About the University of Delaware
The University of Delaware is a public land-grant research university located in Newark, Delaware offering three associate’s programs, 148 bachelor’s programs, 121 master’s programs (with 13 joint degrees), and 55 doctoral programs across its 10 colleges. It is considered a large institution, with approximately 19,000 undergraduate and 5,300 graduate and professional students. The University was recently ranked the #10 Top Public School by the WSJ/College Pulse and is consistently ranked among the top 50 U.S. News National Public Universities.
Classified as an “R1: Doctoral University – Very High Research Activity,” the university is committed to investing in research, innovation, and state-of-the-art facilities. In FY 2023, the university’s research expenditures exceeded $237 million, with a goal of reaching half a billion by 2029.
About Waterway Family Funds
Waterway Family Funds is an affiliate of Waterway Capital, a FINRA/SEC registered broker dealer and investment bank. WFF sources and acquires commercial real estate focused on achieving the highest risk-adjusted returns across diverse asset classes and geographic locations. With principals who have an average of more than 30 years of experience in commercial real estate, the company targets assets that (1) preserve capital, (2) maximize distributable yields, and (3) generate superior all-in returns. Since 2003, WFF and its affiliates have financed +$12 billion of real estate transactions and acquired +$16 billion of total real estate value.
