This article was displayed on the ChosunBiz MoneyMove (MM) site at 4:43 p.m. on Apr. 03, 2026.
IGIS Asset Management has acquired a student housing asset in a prime location near a U.S. college district. As the traditional commercial real estate market, including offices, has contracted due to higher interest rates, the move is seen as a strategy to shift investment toward residential assets that can secure stable cash flow.
According to the investment banking (IB) industry on the 3rd, IGIS Asset Management is pursuing the acquisition of Chauncey Square in West Lafayette, Indiana, through "IGIS No. 580." The planned purchase price is $67.15 million (about 101.3 billion won).
Chauncey Square is student housing located near Purdue University in the United States. It was completed with 158 units and 386 beds. It sits in a prime location adjacent to the Purdue main gate commercial area, characterized by heavy foot traffic.
The area around "Chauncey Hill," where the asset is located, is the core college-town commercial district packed with restaurants, cafes and amenities, drawing steady demand from students and faculty. In particular, Purdue is a large public university with more than 50,000 enrolled students, and because dormitory capacity is limited, there is consistent off-campus housing demand.
The investment also aligns with shifts in the global commercial real estate market. While offices and retail assets have faced rising vacancies and downward pressure on values due to higher interest rates, residential assets such as rental housing and student housing have remained relatively resilient.
In major markets such as the United States and Europe, rental housing and student housing have already become mature institutional asset classes. Analysts say domestic real estate managers are set to accelerate a shift away from office-centric strategies and reorganize their portfolios toward residential assets.
IGIS Asset Management is assessed to be broadening its investment scope to overseas markets with greater stability and liquidity, based on its domestic experience in rental housing. IGIS Asset Management has invested through IGIS Residence REITs in The Sharp Bupyeong Central City, DEARS Pangyo, DEARS Myeong-dong and NUDDT Hongdae.