Summary:
- The Scion Group is acquiring the operating business of Student Quarters, an Atlanta-based firm managing $1.5 billion in student housing assets, adding 13,000 beds across 21 markets to its portfolio without external financing; the deal will expand Scion’s footprint to 190 communities and nearly 118,000 beds in 94 university markets.
- Scion targets large public universities with strong enrollment and growing demand, focusing on affordable student housing rather than the highest-priced segment, aiming to enhance operational efficiency and margins by integrating Student Quarters’ platform with its centralized systems and technology.
- The acquisition reflects accelerating consolidation in the student housing sector, where scale enables investment in technology, data analytics, and resident services; Scion’s recent partnership with Ares Management and ongoing capital deployment exceeding $5 billion underline its growth strategy in this evolving market.
Original article:
https://www.multifamilydive.com/news/scion-group-buy-student-quarters-operating-business/822548/
