Osaka, Japan — Ascott Residence Trust (ART) has acquired Eslead College Gate Kindaimae, a 112-unit student housing community located near Kindai University in Osaka.
The property offers studio apartments alongside shared amenities including a dining area and lounge space. The community will be managed by an undisclosed student housing operator based in Japan.
Singapore-based ART has made headlines recently for its investments in student housing, including the acquisition of four student housing communities in Pennsylvania, North Carolina and Ohio for $213 million in January; and the acquisition of a 1,005-bed student housing community located near Texas Tech University last fall.
“Our first student accommodation property in Japan adds to our quality portfolio of eight student accommodation properties in the U.S.,” says Beh Siew Kim, CEO of ART. “It is located close to a highly reputable university with a large student population, and there is limited competing supply.”