Inland, Scion Announce Strategic Student Housing Partnership
Real estate investment manager Inland Real Estate Investment Corporation, or Inland Investments, and The Scion Group, an owner/operator of off-campus student housing communities with more than $10 billion in assets under management, announced a strategic relationship focused on operating off-campus purpose-built student housing properties owned by affiliates of Inland Investments and located at leading universities throughout the United States.
The relationship builds upon Inland Investments’ strategic plan to continue expanding its $1.7 billion student housing footprint, which currently consists of more than 10,000 beds across 19 properties throughout the country. Over the summer, the company closed its private investment offering, the Columbia SC Student Housing DST, having raised over $128 million. Proceeds from the offering supported the acquisition of Sawyer on Lincoln, a modern student housing property located near the University of South Carolina.
“We could not be more excited to partner with Scion as a best-in-class student housing operator,” said Nati Kiferbaum, chief strategy officer of Inland Investments. “As we look to the next phase of growth in expanding our student housing platform, providing investors with access to scale and efficiencies within the sector is a key strategic objective for us.”
Scion’s leadership likewise underscored the strategic alignment between the two firms. “This strategic relationship with Inland Investments underscores Scion’s commitment to robust growth and consolidation,” said Clayton Merritt, senior vice president of investments at The Scion Group. “This partnership furthers Scion’s success in executing our business plan with leading institutional investors.”
Scion’s current portfolio consists of over 95,000 beds of student accommodations in 146 communities, serving 82 college and university markets across 35 U.S. states. Scion employs more than 1,600 team members and has over $10 billion of assets under management, generating over $1 billion in annual aggregate revenues.
Headquartered in Oak Brook, Ill., Inland Investments specializes in offering public and private tax-advantaged, growth and income real estate solutions spanning virtually every sector of the commercial real estate market. Inland member companies have facilitated more than $56 billion in acquisitions since inception and currently manage a diverse real estate portfolio of approximately $17 billion across 43 states.
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