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Chicago — Brookfield Asset Management is in advanced talks to form a joint venture with Chicago-based Scion Group to acquire at least $1 billion worth of student housing properties, according to reports by Bloomberg and Crain’s Chicago Business. In 2016, Scion formed a partnership with GIC and the Canada Pension Plan Investment Board (CPPIB), which currently owns 74 student housing assets across the U.S. The Brookfield deal will not interfere with this joint venture, according to Crain’s.
Student Housing Business will continue to report on this potential joint venture partnership as news becomes available.