Scion Group and Ares Real Estate Close $910M Buy of 12-Property Student Housing Portfolio

The Scion Group and an Ares Real Estate fund have completed the acquisition of a 12-property student housing portfolio comprising 7,578 beds from Harrison Street Asset Management for $910 million. This transaction represents the largest deal in the student housing asset class for 2026. The properties, accumulated by Harrison Street over the last decade, serve 12 major universities across 10 states, including Arizona State, Auburn, Florida, Notre Dame, Ohio State, and James Madison University.

As part of the agreement, The Scion Group will serve as the operating partner. BMO led the financing for the acquisition, with Walker & Dunlop providing financing advisory services to the buyers. With this addition, Scion now manages over 105,000 beds across 161 communities, further cementing its position as a global leader in the student housing sector.