Robert Bronstein Of The Scion Group And Michael Arougheti Of Ares Management Acquire 2,316 Bed Student Housing Portfolio For $435M

The transaction involved a student housing portfolio, comprising 2,316 beds located in Georgia, Tennessee, and Texas. The sale price for the portfolio was $435,000,000. The properties are situated near key educational institutions, including the University of Georgia, University of Tennessee, and Texas State University.

Summary of transation details:

• Property Type: Student Housing
• Transaction Amount: $435,000,000
• Buyer: Robert Bronstein - The Scion Group
• Buyer: Michael Arougheti - Ares Management
• Seller: Jared Schenk - SCHENK+
• Beds: 2,316
• Markets: Georgia, Tennessee & Texas

This acquisition represents the second deal under the new partnership between The Scion Group and Ares Management, with the seller being a noted student housing developer, SCHENK+.