Deals
Brookfield Said to Plan $1 Billion U.S. Student-Housing Venture
Scion operates in 29 U.S. states, near campuses including the University of South Carolina.
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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.