Harrison Street Sells $910M Student Housing Portfolio to Scion-Ares JV
Event summary
- Harrison Street Asset Management sold a 12-property, 7,578-bed student housing portfolio for $910M to a Scion Group-Ares Real Estate joint venture.
- The portfolio was assembled over 10 years across 10 states near 12 universities, with properties built between 2008 and 2024.
- Institutional Property Advisors, a Marcus & Millichap division, advised Harrison Street on the sale.
- Harrison Street manages $109B in assets across real estate, infrastructure, and credit strategies.
The big picture
This $910M transaction underscores the continued appeal of student housing as an institutional investment class, particularly near major universities. The sale also highlights the strategic role of specialized advisors like IPA in facilitating large-scale portfolio deals. With Harrison Street's significant AUM, its next moves in real estate allocation will be closely watched.
What we're watching
- Portfolio Performance
- Whether the Scion-Ares joint venture can deliver the attractive returns projected for this diverse student housing portfolio.
- Market Trends
- How this high-value transaction reflects broader institutional investor confidence in the student housing sector.
- Strategic Shifts
- The pace at which Harrison Street redeploys capital from this sale into other real estate or alternative asset classes.