SCION COMPLETES ACQUISITION OF UNIVERSITY HOUSE COMMUNITIES, ADDS 11,000 BEDS

CHICAGO, IL / DALLAS, TX. Affiliates of The Scion Group, through various subsidiaries under a joint venture with investors Canada Pension Plan Investment Board and GIC, have completed the acquisition of University House Communities Group, Inc., including 19 student housing communities, from InvenTrust Properties Corp.

The acquired portfolio includes over 11,000 beds serving 18 leading US campuses, including California State University at Fullerton, Arizona State University, ASU Polytechnic, the University of Denver, the University of Texas, Texas Christian University, the University of Arkansas, Louisiana State University, the University of Louisiana Lafayette, the University of Alabama, the University of Alabama-Birmingham, Georgia Tech, Florida State University, the University of Florida, the University of Central Florida, North Carolina State University, the University of North Carolina-Charlotte, and the University of Pennsylvania. Scion will manage and operate the portfolio.

“We are excited to welcome more than 200 University House staff members to the Scion team,” said Mitchell Smith, Scion’s Chief Operating Officer. “We are proud to own these outstanding communities and eager to combine our collective experience to apply best-in-class operations to these properties and across our portfolio.”

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