Scion, Ares Buy 2,316-Bed Student Housing Portfolio
The Scion Group and Ares Real Estate funds acquired a 2,316-bed student housing portfolio in three university markets, including San Marcos, for over $400 million.
The Scion Group and Ares Real Estate funds, part of Ares Management Corp., have acquired a 2,316-bed student housing portfolio. Scion reported the price at over $400 million; Bloomberg put it at approximately $435 million.
The portfolio spans four completed communities in three university markets: Texas State University in San Marcos, the University of Tennessee, and the University of Georgia. One named asset is The Georgia Heights in Athens, Georgia.
The seller was SCHENK+, the firm founded by Jared Schenk, which developed three of the assets and acquired and repositioned the fourth.
The deal is the second 2026 transaction for the Scion and Ares joint venture, following the partnership's May purchase of a 12-property, 7,578-bed portfolio from Harrison Street Asset Management.
- Address
- San Marcos, TX (Texas State area)
- Units
- 2,316
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