CR Longdation Acquires Hong Kong's Hotel COZi Oasis for HK$953 Million in Student Housing Push

CR Longdation (CRLD) has acquired Hotel COZi Oasis at 443-451 Castle Peak Road in Kwai Chung, Hong Kong, for approximately HK$953 million, according to an announcement from Colliers. The real estate acquisition marks CRLD's formal entry into the student housing sector, with the firm planning to repurpose the 583-unit hospitality asset into purpose-built student accommodations.

Real Estate Acquisition Details

The property, Hotel COZi Oasis, is a 30-storey hotel comprising 292,961 square feet and 583 guestrooms. The asset was renovated and reopened in 2018 and sits within the Kwai Tsing District of the New Territories. At the stated purchase price, the transaction implies a per-square-foot cost of approximately HK$3,253. No cap rate, loan amount, or occupancy data was disclosed in connection with the deal.

Colliers served as capital markets advisor on the transaction. Knight Frank acted as investment sales broker. No additional brokerage or tender details were disclosed in the source materials.

Strategic Rationale: From Hospitality to Student Housing

The acquisition represents a value-add repositioning strategy, converting the hotel into student housing. The property's location within the Kwai Chung submarket provides access to MTR connectivity in the New Territories. No further details regarding the conversion timeline, target student population, or projected rents were disclosed by the parties involved.

About the Parties

CR Longdation is a commercial real estate investment firm. The Colliers announcement describes this transaction as CRLD's official entry into the student housing sector. Colliers, the global real estate services firm, provided capital markets advisory services on the deal. Knight Frank served in an investment sales brokerage capacity.

No financial terms beyond the total acquisition price were disclosed by any of the parties involved.