The Scion Group has significantly expanded its presence in the student accommodation segment. In cooperation with funds managed by Ares Real Estate, a portfolio of four residential properties has been acquired. The transaction, valued at over USD 400 million, comprises properties with a total of 2,316 beds, housing students from three major universities.
This acquisition marks the second portfolio takeover this year that Scion has realised together with Ares Real Estate. The acquired portfolio complements Scion's existing activities at all three relevant university locations where the company is already present. The integration of the properties will be facilitated by established operational structures and teams, enabling efficient incorporation into Scion's national portfolio.
Strategic Expansion Near Universities
The residential properties in question were developed by affiliates of the seller SCHENK+ and represent a strategic addition for Scion. Robert Bronstein, CEO of The Scion Group, acknowledged Jared Schenk's pioneering work in off-campus student housing and the high-quality portfolio he built. This transaction allowed Jared Schenk and his investors a complete exit from the affected assets.
The acquisition reflects Scion's strategic focus on continuous growth at university locations. Priority is given to sites where an existing operational platform can ensure smooth integration of properties and long-term value development. This underscores the company's data-driven and structured approach to portfolio expansion.
Locations and Involved Parties
- —The acquired residential properties are located near Texas State University, the University of Georgia and the University of Tennessee.
- —The purchasers of the properties are the Scion Group in partnership with funds managed by Ares Real Estate.
- —The sellers of the portfolio are affiliates of SCHENK+.
- —The transaction is the second joint portfolio takeover by Scion and Ares in the current financial year.
The successful completion of this transaction confirms Scion's market position as a key player in the student accommodation sector and signals a consistent continuation of its expansion strategy through targeted portfolio acquisitions in high-growth university markets.
