The 2,316-bed off-market acquisition expands Scion’s presence at Texas State University, the University of Tennessee and the University of Georgia

The Scion Group ("Scion"), the world’s largest owner of off-campus student housing, today announced the acquisition of a four-community, 2,316-bed student housing portfolio from SCHENK+, in partnership with Ares Real Estate funds ("Ares"). Three of the communities were developed by SCHENK+; the fourth was acquired and repositioned. The portfolio was acquired for an aggregate purchase price of approximately $435 million.

The four-community portfolio serves students at the University of Georgia, the University of Tennessee and Texas State University. Scion currently operates in all three markets, providing beneficial overlap with its existing platform and supporting an efficient integration into Scion’s national operations.

SCHENK+ was founded by Jared Schenk nearly 30 years ago and has built a strong track record in delivering curated living spaces for students. Its high-quality, thoughtfully designed communities serve Tier 1 public universities nationwide. Nati Kiferbaum advised SCHENK+ on the transaction.

"Jared Schenk is one of the true pioneers of off-campus student housing, and he has built an incredible portfolio of high-quality communities," said Robert Bronstein, Chief Executive Officer of The Scion Group. "This transaction provides a comprehensive exit for him and his investors. Scion is pleased to add another successful portfolio execution to our track record, and we are even more excited to welcome these communities to our portfolio."

About The Scion Group

Founded in 1999, The Scion Group is the world’s largest owner of off-campus student housing. Following the closing of this acquisition and a recently announced transaction, Scion will operate nearly 117,000 beds across 187 communities in 92 markets throughout the United States. Scion partners with leading global institutional investors and combines capital markets expertise with integrated, best-in-class operational capabilities to deliver long-term value in purpose-built student housing. For more information, visit www.thesciongroup.com.

About SCHENK+

Founded in 1998, SCHENK+ has acquired and developed more than 25,000 beds throughout the United States. Over the past four years, SCHENK+ and its joint venture partners have initiated more than $1 billion in new student housing development, including 2,700 beds currently under construction at three projects at the University of Tennessee (2027 delivery) and the University of Michigan (2027 and 2028 deliveries). The company is actively sourcing new land opportunities and pursuing strategic acquisitions. For more information, visit www.schenkplus.com.

About Ares Management Corporation

Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of June 30, 2026, Ares Management Corporation's global platform had over $671 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com.

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Media – press@thesciongroup.com