Japan’s Samty buys major stake in top Australian student housing operator

Samty, which is one of Japan’s biggest accommodation operators and develops and manages rentals, apartments, and hotels across Japan and Vietnam, has also acquired Unilodge‘s sister platform Essence Communities, with the move seen as key to the firm’s broader Asia-Pacific strategy.

“This acquisition supports Samty’s long-term ambition to expand its role as a leading provider of accommodation services in the Asia-Pacific region,” read a statement by Samty chief executive Yasuhiro Ogawa.

“We are committed to maintaining UniLodge’s high standard of accommodation for the thousands of students and families who rely on their well-managed and maintained properties.”

Backed by Hillhouse Investment and Daiwa Securities, Samty is acquiring the stake from private equity firm Pamoja Capital, founded by Canadian billionaire John McCall MacBain, with the deal now awaiting regulatory approval.

UniLodge, ultimately held by Pamoja, reported an AUD$18m profit on AUD$110m in revenue for the 2025 financial year, according to the Australian Financial Review.

We are committed to maintaining UniLodge’s high standard of accommodation for the thousands of students and families who rely on their well-managed and maintained properties
_{^{Yasuhiro Ogawa, Samty Holdings}}

Interest in UniLodge has been building for over six months after it hired UBS bankers to find a buyer, with Samty beating potential competitors including US rentals giant Greystar and New York-based buyout firm Warburg Pincus to secure the deal.

With UniLodge now managing 45,000 beds across Australia and New Zealand under an asset-light model, making it the largest operator in the region’s student housing sector, Samty plans to capitalise on strong demand from local and international students to ensure stable operational performance.

Samty’s Australian deal also reflects a rise in Japanese investment in the country’s property market, with one in five Japanese real estate deals occurring in Australia as of 2024.

The expansion of Australia’s student housing sector has also attracted players from other markets, with Singaporean real estate giant Mapletree Investments landing a AUD$300m student housing project in Perth.

The Australian government is boosting purpose-built student accommodation, with 40,000 new beds in the pipeline and 134,000 student-only beds currently nationwide, while mandating that public universities can increase international student enrolments only if they commit to expanding access to student housing.

However, international students continue to face housing stress, often turning to boarding houses or shared rentals, as Purpose-Built Student Accommodation (PBSA) remains limited and costly, according to research from the Australian Housing and Urban Research Institute (AHURI).

A recent survey by Zahra Nasreen of the University of Sydney and Macquarie University found that “hot-bedding”, where tenants share beds in shifts to cut rental costs, is becoming increasingly common in Australia, causing overcrowding and affecting students’ physical and mental health.

This is especially notable given claims that international students are overwhelming Australia’s rental market, despite reports indicating they are not causing housing-related challenges.

According to Property Council executive director Torie Brown, it is “heartening” to see a healthy supply pipeline, but authorities also need to act as a “trusted partner”. A Property Council report noted that high state taxes in places like Victoria are putting pressure on project feasibility.

“A sustainable education sector needs to be matched by serious investment in student accommodation supply. It is time for state and local governments to act as a trusted partner,” Brown stated.

“The cities that make it easier to invest will reap the benefits of professionally managed student accommodation that brings life and vitality to their CBDs. We’re already seeing a substantial increase in the pipeline of beds in cities like Perth and Adelaide, which have investment-friendly settings and pro-international education governments.”

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