Scion Student Communities Acquires 502-Bed Community Near the University of Texas at Austin

by Katie Sloan

Austin, Texas — Scion Student Communities — a joint venture between the Canada Pension Plan Investment Board (CPPIB), GIC and The Scion Group — has acquired MUZE in Austin. The newly developed, 502-bed community was designed by Rhode Partners and serves students attending the University of Texas at Austin. The property offers one-, two-, three-, four- and five-bedroom units with shared amenities including a rooftop pool, sky lounge and study and recreation spaces. A partnership between Kayne Anderson Real Estate and Parallel sold the community for an undisclosed price. 

“We are thrilled to be adding MUZE to our joint venture’s national portfolio of high-quality student housing communities,” says Rob Bronstein, president of Scion. “We are particularly excited about expanding our presence in the leading UT Austin market with another Class-A property. We also continue to be very impressed by the quality and design of Parallel’s developments and welcome the addition of another of their properties onto our platform.

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