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Scion Group, Ares acquire $910 million student housing portfolio

Sale marks the largest US deal in the sector this year
The portfolio included the 600-bed Grove at Auburn near Auburn University in Auburn, Alabama. (CoStar)
The portfolio included the 600-bed Grove at Auburn near Auburn University in Auburn, Alabama. (CoStar)

The Scion Group and an Ares Real Estate fund have launched a joint venture to acquire a 12-property, 7,578-bed student housing portfolio for $910 million from Harrison Street Asset Management.

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