The Scion Group welcomes 11 high-quality student communities to its portfolio. The new acquisitions, completed in partnership with Brookfield, are located in 11 campus markets and contain nearly 5,800 beds, including five new campuses in this transaction.
Scion now provides student accommodations at 127 communities across 78 US campus markets. Scion previously partnered with Brookfield in late 2021 to acquire a portfolio of 23 properties with approximately 17,000 beds.
“We are pleased to be adding these high-quality properties to our portfolio and for the opportunity to expand our partnership with Brookfield,” said Avi Lewittes, Scion’s Chief Investment Officer. “Consistent with our strategy as a leader in the consolidation and maturation of the student housing sector, this transaction enables Scion to further enhance our presence in major public university markets across the United States.”
Scion’s world-class operations team employs over 1,750 and has approximately $9 billion of assets under management.