November 13, 2019
A joint venture of Chicago-based Scion Group and Seoul-based Hana Financial Group completed the acquisition of a four-property portfolio of high-end student housing communities totaling 3,275 bedrooms. The properties are located in these leading university markets: 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.
“This transaction is particularly strategic for Scion, enabling us to expand our existing presence in the University of Florida and Texas Tech markets, while also providing an opportunity to invest in the Colorado State and ‘Ole Miss’ markets, each of which are markets we have targeted for entry,” said Rob Bronstein, resident of Scion.
The portfolio was acquired from entities controlled by Kayne Anderson Real Estate for an undisclosed sum. Scion and Hana were advised by Saker Capital and Admiralty Asset, respectively, in connection with the transaction.
Pictured: The Cottage at Fort Collins, part of the Scion/Hana JV.
For comments, questions or concerns, please contact Paul Bubny