The Scion Group and Ares Management Announce $910 Million Student Housing Acquisition

The Scion Group and affiliates of Ares Management Corporation today announced the formation of a strategic partnership to invest in off-campus student housing, with a focus on high-quality assets in markets characterized by strong enrollment fundamentals and limited new supply.

The partnership's inaugural transaction is the acquisition of a 12-property, 7,578-bed student housing portfolio for approximately $910 million, with Scion serving as operating partner.

The portfolio serves leading universities across the United States, including the University of Notre Dame, The Ohio State University, and James Madison University, and reflects both firms' shared conviction in the long-term strength of the student housing sector.

"This transaction marks an important milestone for Scion," said Robert Bronstein, Chief Executive Officer of The Scion Group. "Not only are we beginning a partnership with Ares, one of the premier asset management firms globally, but Scion's owned portfolio now totals over 105,000 beds. Student housing continues to demonstrate resilient demand characteristics, and we are pleased to expand our platform alongside Ares."

"This transaction underscores Ares Real Estate's ability to execute on large, complex opportunities through our scale, sector experience and operating relationships," said Andrew Holm, Head of U.S. Diversified Equity for Ares Real Estate. "By combining our scaled real estate platform with Scion's strong capabilities, we believe we are well positioned to unlock value across this portfolio and capitalize on the continued institutionalization of the student housing sector."

Since 2016, Scion has deployed approximately $10.2 billion of capital, including $3.4 billion in the past 24 months - reflecting its position as the most active, scaled operator and asset manager in the student housing sector. The firm's portfolio now spans more than 105,000 beds across 161 communities in 90 markets throughout the United States. As a result, The Scion Group becomes the world's largest owner of off-campus student housing globally.

This acquisition reflects broader structural trends shaping the student housing industry, including the consolidation of a historically fragmented market and the continued movement of institutional capital into operationally intensive, need-based real estate. Scion intends to continue leading that evolution.

Explore Scion's full portfolio of student housing communities