Scion has expanded its national student housing platform with the portfolio acquisition of four communities totaling 2,316 beds, in partnership with funds managed by Ares Real Estate. The over $400 million transaction adds communities serving Texas State University, the University of Georgia and the University of Tennessee.

The transaction is Scion’s second portfolio acquisition with Ares this year and builds on Scion’s existing presence in all three university markets. With teams and operations already in place, these communities, developed by affiliates of SCHENK+ which were the sellers, are natural additions to Scion’s national portfolio.

“Jared Schenk is one of the true pioneers of off-campus student housing, and he has built an incredible portfolio of high-quality communities,” said Robert Bronstein, Chief Executive Officer of The Scion Group. “This transaction provides a comprehensive exit for him and his investors. Scion is pleased to add another successful portfolio execution to our track record, and we are even more excited to welcome these communities to our portfolio.”

The transaction reflects Scion’s continued focus on growing in university markets where its existing operating platform can support efficient integration and long-term performance.

Explore Scion’s full portfolio of student housing communities