Marcus & Millichap Unit Advises $910M Sale of 7,578-Bed Student Housing Portfolio
MMI•Marcus & Millichap’s Institutional Property Advisors advised Harrison Street Asset Management on the $910 million sale of a 12-property, 7,578-bed student housing portfolio to a Scion Group–Ares joint venture. The portfolio, constructed between 2008 and 2024 across 10 states near 12 universities, includes assets serving Ohio State and Notre Dame.
1. Transaction Overview
Marcus & Millichap’s IPA division advised Harrison Street Asset Management in the sale of a 12-property student housing portfolio to a joint venture between Scion Group and an Ares Real Estate fund for $910 million.
2. Portfolio Composition
The portfolio comprises 7,578 beds across 12 properties constructed between 2008 and 2024 in 10 states, serving universities such as Ohio State, Notre Dame, Auburn and the University of Florida.
3. IPA’s Advisory Role
IPA executive managing director Peter Katz led the engagement, consulting on portfolio strategy and asset composition to optimize the sale process and return profile for both buyer and seller.
4. Strategic Implications
The transaction marks a significant institutional disposition for Harrison Street over a decade and highlights IPA’s capability to manage high-value commercial real estate deals, potentially driving future brokerage revenue for Marcus & Millichap.
