SCION ACQUIRES 700-BED PROPERTY AT UNIVERSITY OF SOUTH CAROLINA

COLUMBIA, SC. A subsidiary of The Scion Group, in partnership with a private equity fund managed by Real Estate Capital Partners, has acquired a 206-unit student housing community serving the University of South Carolina. The partnership will invest over $1.5 million in improvements to the 700-bed property, known as “Riverside.”
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ADIRONDACK COMMUNITY COLLEGE ENGAGES SCION AND SASAKI TO PLAN FIRST CAMPUS HOUSING

QUEENSBURY, NY. A team of The Scion Group and Sasaki Associates has been selected by Adirondack Community College to explore the viability of the College’s first-ever dedicated student housing. Scion will conduct a detailed market and demand analysis, study the impact on campus of new housing and create a business and financing plan. Sasaki will integrate a student housing facility plan, site survey and architectural renderings. The team’s cooperative effort will result in a comprehensive student housing plan.
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MARYLAND ECONOMIC DEVELOPMENT CORP. RETAINS SCION TO ADVISE ON FINANCIAL PERFORMANCE OF TWO PROPERTIES

BALTIMORE, MD. The Maryland Economic Development Corporation (MEDCO) has engaged The Scion Group to provide an independent-party analysis of revenues and expenses and to develop recommendations on improving financial performance at housing properties serving two public university campuses. This engagement follows Scion’s successful management consulting services for MEDCO in 2008, which resulted in increased debt-service coverage for MEDCO-owned properties on three Maryland campuses.
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UNIVERSITY OF IOWA RETAINS SCION TO EXAMINE FAMILY AND GRADUATE STUDENT HOUSING

IOWA CITY, IA. The University of Iowa has engaged The Scion Group to examine options for the replacement, renovation or elimination of its existing family and graduate housing. Having previously conducted several facility and alternatives reviews of the properties (collectively known as Hawkeye Campus Housing), the University engaged Scion to provide an independent-party analysis of its options.
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CSU-PUEBLO OPENS NEW STUDENT HOUSING FACILITY FOLLOWING SCION’S RECOMMENDATIONS

PUEBLO, CO. Following a 2008 engagement of The Scion Group by Allen & O’Hara Inc. to explore the feasibility of a contemplated new student housing community on the campus of Colorado State University – Pueblo, which stemmed from Scion’s 2006 student housing master plan for the University, the first phase of the project successfully opened in Fall 2009 with a 97% occupancy rate and with a second phase already under construction.
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CITING SCION STUDY, NONPROFITS WILL CONVERT FLINT, MI HOTEL FOR UP TO 550 BEDS OF STUDENT HOUSING

FLINT, MI. Following a Student Housing Market and Demand Analysis by The Scion Group, the nonprofit Uptown Reinvestment Corporation (URC) has purchased the Character Inn in downtown Flint, Michigan for conversion to up to 550 beds of student housing for students of the University of Michigan-Flint (UM-Flint). The Charles Stewart Mott Foundation, which commissioned Scion’s work, provided a $20 million repayable grant to URC for the first phase of the project.
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SCION WILL PREPARE STUDENT HOUSING MASTER PLAN FOR UNIV. OF WYOMING

BERKELEY, CA. The Scion Group has been engaged by planning firm MIG, Inc. to provide a Student Housing Master Plan as part of a long-range development plan being prepared by MIG for the University of Wyoming. Scion will analyze current and future demand for student housing at the University and will examine potential renovation and new development, including mixed uses within student housing facilities.
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