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Exterior of student housing The 8N Lofts near the University of Nebraska, part of the $1.1-billion portfolio the JV is acquiring.

CHICAGO—Another year, another large-scale student housing acquisition by a joint venture including the Scion Group LLC, Canada Pension Plan Investment Board and GIC. Two years almost to the day after forming, Scion Student Communities LP said Wednesday it had acquired a 13,666-bed portfolio, consisting primarily of properties owned by five different funds of Harrison Street Real Estate Capital, for approximately $1.1 billion. The JV’s latest deal also includes the recapitalization of two communities previously owned by Scion-affiliated private syndications.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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