Transactions - NOVEMBER 30, 2021

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The Scion Group picks up student housing portfolio from Harrison Street

by Kali Persall

A joint venture affiliated with The Scion Group has acquired a student housing portfolio from Harrison Street.

The portfolio consists of 25 properties and 15,817 beds across 19 universities. The assets were owned across four separate Harrison Street funds and three co-investment vehicles, in conjunction with multiple operating partners.

This transaction builds on an earlier relationship with Scion. In December 2017, Harrison Street sold a 22-property student housing portfolio to a joint venture consisting of the company, GIC and the Canada Pension Plan Investment Board for roughly $1 billion.

In a separate transaction, Harrison Street also sold a portfolio of 12 properties and 8,182 beds across 12 universities to Global Student Accommodation this week. The two transactions represent a combined $1.9 billion.

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