Market Chatter: Ares Management, Scion Group Buy 12 US Student-Housing Properties for $910 Million

MT Newswires Live05-20 21:39

An Ares Management (ARES) fund and the Scion Group have purchased 12 US student-housing properties for about $910 million, Bloomberg News reported Wednesday.

The properties include a total of 7,578 beds and are located near schools including the University of Notre Dame outside of South Bend, Indiana, Ohio State University in Columbus and James Madison University in Harrisonburg, Virginia, according to the report.

Ares Management did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 119.93, Change: -1.20, Percent Change: -0.99

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