The companies acquired two off-campus communities totaling 1,128 beds.
Athens, Ga. — A joint venture between Dallas-based Behringer Harvard and Chicago-based The Scion Group has purchased a two-property, 1,128-bed student housing portfolio from American Campus Communities. The two properties are located in Athens, less than two miles from the campus of the University of Georgia.
River Club Apartments is located on 93 acres at 1005 Macon Highway. Constructed in 1996, the community includes 17 two- and three-story, garden-style buildings. It comprises 792 beds within 266 units.
The second property is River Walk Townhomes, a 336-bed, 100-unit property located nearby at 400 Timothy Road. The community was constructed in 1998 and comprises 29 two-story buildings on 32 acres.
Amenities for both communities include fitness and computer centers; basketball, volleyball and tennis courts; swimming pools and barbecue grills; car wash stations and tanning salons.
Behringer Harvard made the purchase on behalf of Behringer Harvard Opportunity REIT II.
— Coleman Wood
*4/28 – UPDATE: American Campus Communities listed as the seller.