:
US: Student housing operator The Scion Group has agreed to acquire Atlanta-based operator Student Quarters, adding nearly 13,000 beds and around $1.5 billion in student housing assets under management to its portfolio.
The transaction will expand Scion’s footprint to 190 communities and almost 118,000 beds across 94 university markets in the US, further strengthening its position in the PBSA sector.
The acquisition includes Student Quarters’ operating platform, investments in underlying real estate assets and associated fund structures.
Scion said key members of the Student Quarters leadership team will remain with the business following completion of the deal, while the company will retain Student Quarters’ Atlanta office.
Rob Bronstein, chief executive officer of The Scion Group, said the acquisition marked another milestone in the company’s growth strategy and would strengthen its presence across key university markets.
The deal comes amid increasing consolidation across the student housing sector, as operators look to scale platforms, manage rising operational complexity and improve efficiencies.
Founded in Atlanta, Student Quarters specialises in purpose-built student housing communities, while Scion has continued to grow its platform through acquisitions and investment across the US higher education market.
Highlights
- Scion will acquire Student Quarters’ operating platform
- The deal adds nearly 13,000 beds and $1.5bn in assets under management
- Scion’s portfolio will grow to 190 communities and almost 118,000 beds
- Student Quarters’ leadership team and Atlanta office will be retained
- The acquisition reflects wider consolidation across the student housing sector
