Insights > Deals
Brookfield and Scion plan US$1.4 billion refinancing of 24,960 student beds
25 September 2026 | Refinancing | US | 24,960 beds | Operational
The proposed loan would refinance a 39‑property portfolio acquired in 2021, with closing expected on 15 October.
Key details
Asset type | Operational |
Location | College Station, San Marcos, Austin, Harrisonburg and other university markets, US |
Capacity | 24,960 beds |
Borrower 1 | Brookfield investment funds |
Borrower 2 | The Scion Group |
Lender 1 | Morgan Stanley |
Lender 2 | Goldman Sachs |
Lender 3 | Citi |
Lender 4 | Bank of Montreal |
Value | US$1.4 billion |
Source: Multi-Housing News
The two‑year floating‑rate loan would be interest‑only, with three one‑year extension options. Proceeds would repay approximately US$1.3 billion of existing debt, cover transaction costs and release some equity to the owners.
The properties span 16 states and include Northpoint Crossing in College Station and Copper Beech in San Marcos. The owners have invested US$89.2 million in capital improvements since acquiring the portfolio.
Strategic context
The refinancing would extend the funding of Brookfield and Scion's existing portfolio rather than add new assets. Extension options would give the owners more time to manage leasing and capital expenditure before the next refinancing or disposal.
SUBSCRIBE TO STUDENT HOUSING INSIDER
Stay close to the student housing market
Subscribe to Student Housing Insider for a weekly update on student housing transactions, development pipeline, market trends and selected BONARD analysis.
Designed for investors, developers, operators, lenders and market participants tracking the student housing sector.