CHICAGO, IL – The Scion Group and Hana Financial Group have acquired a four-property, student housing portfolio in a joint-venture transaction.
The newly-developed, class-A student housing communities total 3,275 bedrooms. The properties are each located in growing markets, serving University of Florida in Gainesville, FL, Colorado State University in Fort Collins, CO, Texas Tech University in Lubbock, TX and University of Mississippi in Oxford, MS.
The transaction further expands The Scion Group's presence in the University of Florida and Texas Tech markets. It additionally expands the firm's national portfolio to 86 communities encompassing more than 58,200 bedrooms.
The student housing portfolio was purchased from Kayne Anderson Real Estate-controlled entities.
The transaction represents the recently-formed joint-venture partnership's first investment. The Scion Group was advised by Saker Capital in the transaction, and Hana Financial Group was advised by Admiralty Asset.
The Scion Group is the largest privately-held owner/operator of student housing communities in the US. Founded in 1999, the firm operates properties across 28 states and has invested more than $6 billion in student housing projects.
Hana Financial Group is a global financial group, headquartered in Korea. The firm has more than 185 branches throughout 24 countries. The company consists of 12 subsidiaries, with more than $400 billion in total assets.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
