Transaction will expand Scion’s national platform to 190 communities and nearly 118,000 bedrooms across 94 leading university markets.

The Scion Group (“Scion”), a leading owner-operator of student housing communities, today announced it has entered into a definitive agreement to acquire the operating business of Student Quarters (“SQ”), an Atlanta-based operator with interests in approximately $1.5 billion of student housing assets.

The transaction brings together SQ’s established operating platform and strong presence in high-quality university markets with Scion’s national scale, expertise, technology infrastructure and centralized operating capabilities. SQ’s senior leadership will retain asset ownership positions and will remain actively involved post-closing for continued alignment and a partnership-driven approach to maximizing performance and long-term value creation.

Scion has observed that the student housing sector is entering a period of accelerated consolidation, as reflected by this transaction. Scion believes its platform is well positioned to lead this evolution, leveraging its size, infrastructure and institutional capabilities to unlock efficiencies and deliver performance.

“This acquisition is at the center of a historic period of growth and investment for Scion, with aggregate capital deployment activity exceeding $5.0 billion over the last two years,” said Robert Bronstein, Chief Executive Officer of Scion. “Student Quarters represents a compelling opportunity to extend our platform with a high-quality operating business while partnering with an experienced team that we’re excited to work with.”

The SQ portfolio comprises approximately 13,000 beds across 21 markets, with 77% market overlap with Scion’s existing footprint. This alignment is expected to support a seamless integration and enhance coordination across key markets. Scion anticipates meaningful efficiency gains, increased NOI and margin improvement throughout the SQ-managed portfolio, supported by Scion’s centralized systems and operating infrastructure.

Scion is acquiring the SQ operating business and will also invest both in underlying real estate and related fund structures. The transaction is being funded entirely with Scion’s balance sheet, without third-party capital partners or transaction-level financing.

“We are pleased to partner with Scion at this important stage in our evolution,” said Andy Feinour, CEO of Student Quarters. “Scion’s scale, resources and long-term approach to investing position the platform for continued growth. Importantly, this transaction enables our team to remain actively involved, ensuring continuity for our investors and supporting long-term value creation.”

The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions. Following closing, Scion will retain SQ’s Atlanta office and integrate the platform into its national operations, while maintaining continuity across property-level teams and existing investor relationships.

“As operational complexity continues to increase across the student housing sector, scale is becoming an increasingly important differentiator,” said Avi Lewittes, Chief Investment Officer of Scion. “This transaction enhances our ability to deliver for residents, universities and capital partners, while providing expanded opportunities for team members across the combined platform.”

Scion expects this transaction to be the first of several potential opportunities to expand its platform through similar transactions, further reinforcing its position as the sector’s leading operator and consolidator.

About The Scion Group

Founded in 1999, The Scion Group is the world’s largest owner of off-campus student housing. Prior to the contemplated transaction, the firm owns and operates more than 105,000 beds across 161 communities in 89 markets throughout the United States. Scion partners with leading global institutional investors and combines capital markets expertise with integrated, best-in-class operational capabilities to deliver long-term value in purpose-built student housing.

Visit www.thesciongroup.com for more information

About Student Quarters

Student Quarters is one of the leading owner/operators of purpose-built, campus-adjacent student housing properties in the US. Student Quarter’s current portfolio comprises 29 assets totaling nearly 13,000 beds at 21 campuses. Student Quarters consistently ranks as one of the top 20 owners of student housing in the United States and continues to be one of the most active and vertically integrated operators in the industry. Student Quarters has received numerous industry awards, recently recognized as a NAA Top Employer and “Best Place to Work,” and “Healthiest Employer” by the Atlanta Business Chronicle.

Visit www.livesq.com for more information

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