Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing, and The Scion Group announced a joint venture to acquire a portfolio of student housing communities in Oxford for a combined investment of $262 million.

The portfolio is located within 2 miles of the University of Mississippi campus and comprises 600 apartments, townhomes and cottages with more than 2,000 beds.

“We are pleased to acquire this high-quality portfolio of student housing communities at the University of Mississippi, offering a variety of product types and price points,” said Will Milam, Head of U.S. Investments at Morgan Stanley Real Estate Investing. “The dramatic supply-demand dynamics in the region have led to notable financial performance for these assets, which we expect to continue as the university continues to experience strong enrollment.”

The acquisition of College Town Oxford, a cottage-style community located on the west side of the campus, closed earlier this month. The remaining acquisitions of a garden-style community located south of the campus and four smaller downtown Oxford properties are expected to close in the third quarter of 2025.

TSB Capital Advisors represented the new joint venture in arranging financing for the acquisitions.

“We are excited to enter this new joint venture with MSREI and appreciate their confidence in Scion,” said Rob Bronstein, Chief Executive Officer of The Scion Group. “We share confidence in the ongoing attractiveness of the Ole Miss campus market, in which Scion continues to invest with this latest acquisition.”

Investment funds managed by MSREI currently own 43 student housing properties across the United States, totaling 17,700 beds.