Overview
- Scion Group and an Ares real estate fund purchased a 12-property portfolio of 7,578 beds from Harrison Street for $910 million.
- The portfolio spans 10 states and serves a dozen universities including Arizona State, Auburn, the University of Florida, Notre Dame, Ohio State and James Madison.
- Scion will operate the properties as the newly formed joint venture's inaugural deal and said it will focus on high-quality assets in markets with strong enrollment and limited new supply.
- Walker & Dunlop brokered financing for the acquisition with BMO leading the loan, showing that specialist lenders and advisers are supporting large, complex student-housing trades.
- Industry data show a rebound in the sector with sales volume rising to $10.4 billion in 2025, and investors warn demand is uneven with larger, well-endowed schools outperforming smaller campuses.