Korean investor buys four U.S. student housing projects
The Scion Group and South Korea–based Hana Financial Group have formed a joint venture to acquire a four-property portfolio of high-end student housing communities totaling 3,275 bedrooms. The properties are located in these leading university markets: University of Florida in Gainesville, Fla.; Colorado State University in Fort Collins, Colo.; Texas Tech University in Lubbock, Texas; and University of Mississippi in Oxford, Miss.
“Hana is excited to have had the opportunity to further our reach through the joint venture with Scion; we will further strengthen our position as a global financial group by expanding our network through these strategic deals,” said Kim Hee Seok, CEO of Hana Alternative Asset Management. “With the latest transaction, Hana will establish a close relationship with Scion and boost further investment in student housing assets where institutional investors are increasingly showing an appetite.”
The transaction represents the first inves