Morgan Stanley, Scion Acquire 2,000-Bed Student Housing Portfolio Near Ole Miss for $262 Million

Oxford, Miss. — A joint venture between Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing (MSREI), and The Scion Group has acquired a 2,000-bed student housing portfolio located near the University of Mississippi (Ole Miss) campus in Oxford for $262 million. The portfolio is located within two miles of campus and includes 600 apartments, townhomes and cottages. The acquisition of College Town Oxford, a cottage-style community located on the west side of campus, closed earlier this month. The remaining acquisitions — which include a garden-style community located south of campus and four smaller properties in downtown Oxford — are expected to close in the third quarter. TSB Capital Advisors arranged financing for the acquisitions. “We are excited to enter this new joint venture with MSREI and appreciate their confidence in Scion,” says Rob Bronstein, CEO of The Scion Group. “We share confidence in the ongoing attractiveness of the Ole Miss campus market, in which Scion continues to invest with this latest acquisition.”