$910 Million Student Housing Portfolio Sale Facilitated by Institutional Property Advisors
Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI) dedicated to serving the company’s institutional clients, announced today that Peter Katz, IPA executive managing director investments, advised Harrison Street Asset Management (HSAM) in HSAM’s sale of a 12-property, 7,578-bed student housing portfolio to a joint venture between Scion Group (Scion) and an Ares Real Estate fund (Ares) for approximately $910 million. Katz was engaged to consult on portfolio strategy and asset composition.
“This diverse portfolio of student housing assets is positioned to provide an attractive return profile for the buyers, Scion and Ares,” said Katz. “We value our longstanding relationships and greatly appreciate the opportunity to have advised our client, Harrison Street, on this sale.”
Five HSAM investment vehicles assembled the 12-property portfolio over the last 10 years. The properties were constructed between 2008 and 2024 in 10 states close to 12 universities. The Ohio State University, Auburn University, the University of Notre Dame, James Madison University, and the University of Florida are among the universities served.
