Star Asia forms Japanese student-housing partnership
Star Asia Group, a boutique investment management group focused on Japanese real estate opportunities, has formed a partnership with GSA, a purpose-built student-housing firm, to develop student accommodation assets in Japan.
The joint venture, GSA Star Asia KK, a Tokyo-based, wholly-owned subsidiary of GSA Star Asia Japan, plans to create 20,000 beds targeting Japanese and international university students studying in Japan. The partnership is also supportive of the Japanese government’s higher-education growth strategy to increase the country’s number of international students and grow revenues.
Funded with equity from Star Asia Group, GSA and two global institutional investors and financing from a Japanese bank, the portfolio’s first projects will be developed in Hakusan 4-chome, in Tokyo’s Bunkyo-ku district, and comprise 364 purpose-built student-housing beds and a total floor area of approximately 4,500 square metres.
The Hakusan project — near s