SCION ACQUIRES 876-BED COMMUNITY AT WESTERN MICHIGAN UNIVERSITY

KALAMAZOO, MI. An affiliate of The Scion Group has acquired the former “Pointe at Western,” an 876-bed student housing community serving Western Michigan University. Scion will upgrade and re-position the property as “58 West.”

Developed in 2001 on 45 acres two miles west of the Western Michigan University campus, the property includes 21 buildings containing 324 units in a mix of 4-bedroom, 3-bedroom, 2-bedroom and studio/suite apartments. Amenities include a fitness center and indoor basketball court, swimming pool and hot tub, outdoor sports courts, game room, tanning bed and available covered parking. The property is served by a dedicated bus stop with daily Kalamazoo Metro service to the Western Michigan University Campus. The seller was a subsidiary of EdR (NYSE: EDR). Scion purchased the community in a joint venture with a publicly-held real estate investment trust.

Western Michigan University, founded in 1903, offers more than 240 academic programs and enrolls over 24,000 students and is ranked among the top 100 public universities in the United States.

Additional information about the property is available at 58-west.com.

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