Brookfield Asset Management Inc. is in advanced talks to form a joint venture with Scion Group LLC to acquire at least $1 billion in student-housing properties, marking the alternative-asset manager’s first U.S. bet on the sector, according to people with knowledge of the matter.
The entities are planning to purchase purpose-built real estate across the country, said the people, who asked not to be identified discussing an effort that isn’t yet public.
Scion, founded in 1999, operates a portfolio of 58,700 beds in 29 U.S. states, near campuses including the University of South Carolina, Arizona State University and the University of Texas at Austin, its website shows. The
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