The Reserve at 66
Cedar Rapids, IA
A collection of five separate properties, comprising a total of 800 units. Located within close proximity of Kirkwood Community College.
Property Description:
| Status: | Currently Owned & Operated |
|---|---|
| Type: | Student & Market Rate Housing |
| Location: | Cedar Rapids, IA |
| Class Type: | Class A |
| Year(s) Acquired: | 2007 & 2025 |
| Total Units: | 800 |
|
Campus View Kirkwood Court:
Reserve at Kirkwood:
Prairie Reserve:
The Quad at Kirkwood:
|
400
144
196
60
|
Investment Highlights
| Original Investment Date: | 2007 |
|---|---|
| Fixed Interest Rate | 3.32% |
| Pre-Leasing for '25-'26 School Year | 36.7% |
Investment Background
Haverkamp RE Acquisition Fund bought out an existing R66 investor's 39% share in January 2025. The entire R66 portfolio comprised of 5 properties is now under Haverkamp Group ownership and management.
Execution
Campus View and Kirkwood Court (“CVKC”) were originally acquired by HG in 2007 and have been managed as a combined student property since that time.
The Reserve at Kirkwood (“RKW”) was acquired by HG in 2017 in combination with Prairie Reserve as a combined student property targeting the KCC student community.
Prairie Reserve (“PR”) was acquired by HG in 2017 in combination with RKW and over the past several years has been converted to a conventional, market rent property as demand for student housing has subsided.
The Quad at Kirkwood (“Quad”) was acquired by HG in 2018 as a student property targeting KCC students. Over the past two years, Quad has been converted to a conventional, market rent property.
Results
Pre-leasing for the 2025-2026 school year is sitting 3% higher than last year at this time. (36.7% vs 33.1%)
Occupancy for the entire portfolio is above 93.1% as of 12/31/24
Have questions?
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