GIC-backed Scion acquires Harrison Street student housing assets in US for $1b

Scion Student Communities LP –  a joint venture between The Scion Group, Singapore’s sovereign wealth fund GIC and the Canada Pension Plan Investment Board (CPPIB– has acquired a 22-property student housing portfolio of Harrison Street Real Estate Capital for about $1 billion.

The portfolio transaction comprises approximately 12,000 beds across 18 states in the US and involves 20 leading national universities. Harrison Street, a real estate investment firm, focusses on the education, healthcare and storage sectors.

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