Scion Finds Success During Recession

Amid the global financial crisis, Scion acquires 1,575 beds in two communities at the University of Illinois from a receiver. With the properties less than 50% occupied and with deferred maintenance and operational challenges, Scion raises private funds and closes the acquisition in December 2008. Over the next few years, Scion will transform these assets, lease them to 100% and eventually sell them for a multiple of the original basis, standing today as one of the sector’s most successful operational turnarounds and economic returns.