Värde, a global alternative investment firm, and Way Hawkins, a vertically integrated real estate company, formed a joint venture, to acquire value-add and distressed hospitality and housing assets, in a $1bn deal. “The pandemic has had a profound impact on certain hotel and overlooked housing assets, leaving many in financial difficulty and ultimately unviable in their current form. This has led to a window of opportunity to acquire properties at a discount to intrinsic and potential value, with a view to repositioning the assets for higher, better uses. The partnership with Värde will help support the growth of our platform as we seek to capitalize on what we believe is a large and scalable investment opportunity,” Ross Walker, Hawkins Way Capital Managing Partner.