Scion and Brookfield Acquire GSU Student Housing

Scion and Brookfield Acquire GSU Student Housing

A student housing community in Atlanta, known as Reflection, has been acquired by a joint venture between The Scion Group and Brookfield Asset Management. This 741-bed, 247-unit tower is located just one block away from Georgia State University’s main campus.

According to Commercial Edge reports, the duo took over an $87.3 million loan issued by The Development Authority of Fulton County in 2020 as part of the transaction. Additionally, they also secured a $65 million note from Forethought Life Insurance Co.

Previously owned by Atlantic Capital Properties and Gateway Ventures, the partners completed construction on this 25-story tower in October of 2020 using funds from a $65 million loan provided by Arvest Bank.

The Scion Group prides itself on being the largest owner and operator of off-campus student communities with properties across various markets totaling more than $9 billion under management. Their U.S portfolio currently consists of over 84,000 beds across 127 communities in different markets nationwide.

About the Publisher:
Steve Griffin is based in sunny Palm Harbor, Florida. He’s an accountant by profession and the owner of GRIFFIN Tax and REVVED Up Accounting. In addition, Steve founded Madison Avenue Technology. With a strong passion for commercial real estate, he’s also dedicated to keeping you up to date with the latest industry news.

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