SCION PURCHASES 481-BED PROPERTY AT UNIVERSITY OF NORTHERN IOWA

CEDAR FALLS, IA. An affiliate of The Scion Group has acquired University Mills, a 481-bed student housing community adjacent to the University of Northern Iowa. Scion will manage the property.

Developed in 2002 on a ten-acre parcel immediately west of the University of Northern Iowa campus, University Mills is comprised of 11 three-story buildings containing 121 residential units primarily in 4-bedroom, 2-bathroom configurations, plus a clubhouse facility. Amenities include a 24-hour fitness center, swimming pool with hot tub, outdoor sports courts, game room and tanning bed. The property is served by a dedicated stop on the UNI Panther Shuttle and SafeRide buses to the University campus and downtown Cedar Falls. The seller was American Campus Communities (NYSE: ACC).

The University of Northern Iowa, established in 1876, enrolls over 12,000 students at its 900-acre campus in Cedar Falls and offers over 90 majors across six colleges.

Additional information about University Mills is available at universitymills.com.

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