Closed Student Housing Development
Tessera
Los Angeles, CA
216-bed, seven-story student housing community at 1069 W. Exposition Boulevard, a six-minute walk from the University of Southern California's main campus. Tessera offers fully furnished apartments from studios to four-bedroom units, an 11,000-square-foot rooftop sky deck with resort-style pool and fire pits, a second-floor amenity deck, 24-hour fitness center, and private study lounges. The community sits directly across from Exposition Park and the newly opened George Lucas Museum of Narrative Art.
- Investment
- Equity + Mezzanine Loan
- Location
- Los Angeles, CA
- Asset class
- Student Housing
- HC2 participation
- $19,075,000 (equity) + $16,000,000 (mezz)
- Units/Beds
- 216 beds
The Opportunity
Why we invested
Ground-up development with sponsor Mosaic Investment Partners serving USC, a Tier 1 private university with a deep, undersupplied off-campus housing market. HC2 invested as both LP equity and mezzanine lender, capturing two positions in the capital stack. The site's unbeatable proximity to campus, Exposition Park, and Metro rail supports long-term demand as the asset completes lease-up.
Our portfolio showcases our ability to uncover unique opportunities, navigate complex transactions, and deliver strong, risk-adjusted returns for our partners.
Execution
Our role in the deal
Sourcing
We identify high-quality assets in supply-constrained markets and partnering with proven operators.
Asset Management
We provide investors quarterly reports, market updates, construction camera access, and audited financials.
Underwriting team
Gabriel Hidalgo, Doug Conner and Jim Crigler review and underwrite every HC2 Capital investment together.
Meet the teamThe property
Project gallery
Rooftop sky deck and resort-style pool at Tessera, a six-minute walk from USC. 
Furnished living room in a Tessera apartment. 
Kitchen with stainless appliances in a Tessera floor plan. 
Living area in one of the Tessera units. 
Private bathroom in a Tessera apartment. 
The 11,000-square-foot rooftop deck at Tessera, overlooking Los Angeles.
Related investments
Other HC2 Capital investments in the same asset class.
Investors
Investor Portal
Existing investors can access statements, K-1s and distribution history.
