Ascott Residence Trust recently secured a new student housing community near Texas Tech.

Wildwood Lubbock is the student housing community that has been acquired by Ascott Residence Trust and has a 1,005-bed capacity, according to NewsTalk Texas Real Estate Center.

“Ascott buys student housing community near Texas Tech,” the Dallas Doctors Agent said in a Sept. 28 Facebook post. 

Located near Texas Tech, the student housing acquisition was purchased for $70 million, reported by Rebusiness Online.

News Talk Texas Real Estate Center reports that the property has two-bed and four-bed floor plans and includes a plethora of amenities like a resort-style pool, hot tubs, outdoor cabanas, grills, fire pits and a swim-up bar. Additionally, a fitness center, theater, dog park, study room, basketball courts and volleyball courts will be offered to residents. 

Rebusiness online reports that Ascott Residence Trust is a Singapore-based REIT.

Named the largest hospitality trust in Asia Pacific, Ascott Residence Trust has an asset value of S$7.3 billion. The Ascott Residence Trust website states that their main focus is to invest in real estate communities that are primarily used as serviced residences, rental housing properties, student housing, among other hospitality affairs across the globe.

The Ascott website states that as of June 30, 2021, Ascott's portfolio includes 88 properties with over 16,000 units across 38 cities located within 15 countries.