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GIC-Canada Pension-Scion JV acquires 24 US student housing properties for $1.5 bil

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GIC-Canada Pension-Scion JV acquires 24 US student housing properties for $1.5 bil

PC Lee Published on Wed, Jan 03, 2018 / 11:08 PM GMT+8

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SINGAPORE (Jan 3): Scion Student Communities, a joint venture of GIC, Canada Pension Plan Investment Board (CPPIB) and The Scion Group, has acquired a US student housing portfolio for US$1.1 billion ($1.5 billion).

The portfolio consists of 24 quality assets located in 20 diversified university campus markets across the US comprising 13,666 beds.

GIC manages Singapore's foreign reserves with well over US$100 billion in assets under management.

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