Scion Group Acquires Four-Property Student Housing Portfolio for $400M
The Scion Group has acquired a four-property, 2,316-bed student housing portfolio from SCHENK+ in partnership with Ares Real Estate funds for $400 million. The acquisition expands Scion's presence in key markets serving Texas State University, the University of Tennessee, and the University of Georgia. Three properties were developed by SCHENK+, while the fourth was acquired and repositioned. This deal is part of a broader expansion strategy from Scion, which previously purchased Student Quarters for $1.5 billion in assets across 21 markets with no disclosed price or external financing. In May, Scion also partnered with Ares Management Corp., acquiring another student housing portfolio worth approximately $910 million. The continued consolidation reflects growing institutional interest and the need for operational scale to improve efficiency through technology and centralized management.
Topics: acquisition real estate student housing