A Scion Group holding A Scion Group holding

CHICAGO–Scion Student Communities, a JV between the Scion Group, Canada Pension Plan Investment Board and  Singapore’s GIC, has acquired three separate US student housing portfolios for a total of $1.6 billion.  The deal consisted of the acquisition of a $385 million portfolio holding six properties in the southern US and a separate $640 million acquisition of 11 properties throughout the US. Fannie Mae credit facilities were used to back both deals. Then, the transaction also recapped 12 legacy Scion communities for $550 million.