Summary:
- The Scion Group and Ares Real Estate funds acquired a 2,315-bed student housing portfolio across four Sun Belt properties for approximately $435 million, marking a significant expansion in key university markets including Texas State, University of Tennessee, and University of Georgia.
- The seller, Chicago-based SCHENK+, developed three of the properties and repositioned the fourth, completing a comprehensive exit for founder Jared Schenk, a noted pioneer in off-campus student housing.
- Following the acquisition, Scion will operate nearly 117,000 beds across 187 communities in 92 U.S. markets, reinforcing its position as the world’s largest owner of off-campus student housing.
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