Ascott Acquires 1,005-Bed Student Housing Community Near Texas Tech University for $70M

LUBBOCK, TEXAS — Ascott Residence Trust, a REIT based in Singapore, has acquired Wildwood Lubbock, a 1,005-bed student housing community located about two miles from Texas Tech University. Ascott purchased the community, which offers two- to four-bedroom units with bed-to-bath parity, from an undisclosed seller for $70 million. Shared amenities include a resort-style pool with hot tubs, a swim-up bar, outdoor cabanas and grills and fire pits. In addition, residents of Wildwood Lubbock have access to a fitness center, study rooms, theater, dog park and basketball and volleyball courts.