Scion Student Communities, a student housing joint venture between Canada Pension Plan Investment Board (CPPIB), GIC and The Scion Group, has acquired MUZE, a newly developed student housing community serving the University of Texas at Austin.
The property was completed in August 2019 and is located in Austin’s West Campus neighborhood, just two blocks from the university campus. Among the highest-end properties in the market, MUZE offers one- through five-person apartments, a top-of-the-line amenity package including a rooftop pool and sky lounge, and extensive study and recreation spaces.
Scion Student Communities acquired MUZE from a partnership of Kayne Anderson Real Estate and the project’s developer, Parallel Company. The transaction represents Scion Student Communities’ second acquisition in Austin and complements its adjacent sister community, University House Austin, which was acquired as part of Scion Student Communities’ inaugural $1.3 billion acquis
