Scion Group, Ares Acquire U.S. Student Housing Portfolio for $435M

In their second major acquisition this year, student housing owner and operator the Scion Group and private equity giant Ares Management have purchased a four-community student housing portfolio in Texas, Tennessee and Georgia for approximately $435 million.

Scion and Ares bought the 2,316-bed portfolio from Schenk+, a real estate development and investment company led by Jared Schenk that specializes in off-campus student housing. Three of the communities that are part of the purchase were developed by Schenk+, while the fourth was acquired and repositioned by the firm, according to a Tuesday announcement from the buyers.

The portfolio includes properties at the University of Georgia in Athens, the University of Tennessee in Knoxville and Texas State University in San Marcos.

“Jared Schenk is one of the true pioneers of off-campus student housing, and he has built an incredible portfolio of high-quality communities,” Robert Bronstein, CEO of Scion, said in a statement. “This transaction provides a comprehensive exit for him and his investors. Scion is pleased to add another successful portfolio execution to our track record, and we are even more excited to welcome these communities to our portfolio.”

Inland Real Estate Investment’s Nati Kiferbaum represented Schenk+ in the deal, while it was unclear whether Scion and Ares had any representation.

Kiferbaum could not be reached for comment, while a spokesperson for Schenk+ did not immediately respond to a request for comment.

News of the deal comes roughly three months after Scion and Ares completed the largest student housing portfolio deal so far in 2026.

In late May, the joint venture acquired a 12-property student housing portfolio in the U.S. for $910 million from Harrison Street Asset Management (HSAM), as Commercial Observer previously reported. The portfolio included 7,578 beds across 10 states and 12 universities, including Arizona State University, Auburn University in Alabama and the University of Florida.

In an interview with CO in June, Bronstein said that deal highlighted a strong relationship with HSAM, as well as the firm’s continued interest in portfolio deals.

“We have found there to be a lot of value in acquiring portfolios. It’s efficient for our capital. It’s efficient for sellers. There’s a pricing power as the buyer and showing up and buying whole portfolios. So it’s an efficient way to grow,” the Scion CEO said at the time.

Isabelle Durso can be reached at idurso@commercialobserver.com.