Scion, CPPIB and GIC acquired University House Communities Group for $1.4bn.

Scion, CPPIB and GIC acquired University House Communities Group, a leading student housing portfolio in the United States, for $1.4bn. “The UHC portfolio represents a valuable opportunity to enter the U.S. student housing sector with top-tier, well-located assets,” said Peter Ballon, Managing Director, Head of Real Estate Investments Americas, CPPIB. “This transaction enables us to gain immediate scale in the attractive U.S. student housing market. We look forward to working with GIC, an existing partner, and Scion, an experienced operator, on the UHC portfolio as well as future student housing investment opportunities in the U.S.”