CapitaLand Ascott Trust Completes Acquisition of 678-Bed Student Housing Community Near University of South Carolina
COLUMBIA, S.C. – CapitaLand Ascott Trust (CLAS) has finalized the acquisition of the Standard at Columbia, a prominent student housing community located near the University of South Carolina campus in Columbia. This strategic move marks the culmination of a phased acquisition process that spanned over the past three years.
Acquisition Process
In June 2021, CLAS entered into a partnership with The Ascott Limited to jointly acquire a 90 percent stake in the development. Subsequently, in November 2022, CLAS acquired Ascott’s 45 percent stake in the property. The final phase of the acquisition involved gaining full ownership by acquiring the remaining 10 percent stake, solidifying CLAS’s ownership of the 678-bed student housing community.
Property Features
The Standard at Columbia, which was completed in August 2023, offers a range of unit types from studios to five-bedroom apartments. The community boasts a variety of shared amenities, including a fitness center, academic lounge, private study rooms, computer lab, rooftop swimming pool, jumbotron, fire pit, grilling station, bike storage, multi-sport simulator, and a resident clubroom.
Strategic Location
Situated near the University of South Carolina campus, the Standard at Columbia provides convenient access for students seeking modern and well-equipped housing options within close proximity to their educational institution. The property’s attractive amenities and strategic location make it a sought-after choice for student accommodation.
CLAS’s Investment Strategy
The acquisition of the Standard at Columbia aligns with CLAS’s investment strategy to expand its presence in key markets and enhance its portfolio with high-quality assets. By focusing on student housing communities near major universities, CLAS aims to tap into the growing demand for modern and amenity-rich student accommodation options.
Overall, the completion of the acquisition underscores CLAS’s commitment to strategic growth and investment in the student housing sector.
