The Scion Group has acquired a four-community, 2,316-bed student housing portfolio from SCHENK+, in partnership with Ares Real Estate funds.
Three of the communities were developed by SCHENK+; the fourth was acquired and repositioned. The portfolio was acquired for an aggregate purchase price of approximately $435 million.
The four-community portfolio serves students at the University of Georgia, the University of Tennessee and Texas State University. Scion currently operates in all three markets, providing overlap with its existing platform and supporting efficient integration into Scion’s national operations.
SCHENK+ was founded by Jared Schenk nearly 30 years ago and has built a track record in delivering living spaces for students. Its communities serve Tier 1 public universities nationwide. Nati Kiferbaum advised SCHENK+ on the transaction.
