Student Housing Daily - October 1, 2026 - Scion and Ares acquire $435M portfolio

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NEWS ROUNDUP

ACQUISITION: Scion and Ares acquire $435 million portfolio. The Scion Group and Ares Management have acquired a four-community, 2,316-bed student housing portfolio in Texas, Tennessee and Georgia for about $435 million. The seller is Schenk+, an off-campus student housing developer and investor led by Jared Schenk, which developed three of the communities and acquired and repositioned the fourth. The properties serve Texas State University in San Marcos, the University of Tennessee in Knoxville and the University of Georgia in Athens. Scion CEO Robert Bronstein called Schenk one of the pioneers of off-campus student housing and said the deal gives him and his investors a full exit. Nati Kiferbaum represented Schenk+.

DEVELOPMENT: Merrimack College and Greystar open $90 million residence hall. Merrimack College has opened two four-story residence halls with 540 beds on its North Andover, Massachusetts campus, a project of about $90 million built through a public-private partnership with Greystar and the Collegiate Housing Foundation. President Christopher Hopey said the halls show what partnership can achieve, and noted the college had just welcomed a record freshman class of 1,250 students. Ryan Souls, managing director of development at Greystar, pointed to the firm's more than 30 years of experience on college campuses. Cube 3 was the architect, and VHB handled site and civil work under Senior Project Manager Jeff Koetteritz.

DISPOSITION: CBRE arranges sale of 768-bed community. CBRE has arranged the sale of a 768-bed, value-add student housing community near the University of Missouri in Columbia, Missouri. CBRE's team included Jaclyn Fitts, William Vonderfecht, Matt Bukhshtaber, Casey Schaefer, Brad Peters, Carson Ford and Victoria Langston.

DEVELOPMENT: Landmark and Peninsula deliver 700 beds. Landmark Properties and Peninsula Investments have delivered a 700-bed, cottage-style student housing community in Vestal, New York. Niles Bolton Associates designed the project, and Landmark Construction, Landmark's in-house construction arm, was the general contractor. Landmark Chief Development Officer Jason Doornbos said the cottage design gives students more living space with high-end finishes and an amenity program unmatched in Binghamton. Peninsula Managing Director Juan Fernando Valdivieso said the firm was proud to partner with Landmark again and expects the community to create lasting value for the university community.

READ: University of Utah has mora than 900 empty dorm beds.

STUDENT HOUSING FOR SALE

Click each image for more information:

2 Properties | 246 Total Units | 663 Total Beds | Built in 2002 & 2003

11 Properties | 154 Units | 293 Beds | 87.4% Portfolio Prelease | $975/Ed

ONE MORE THING

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