March 16, 2017 / 3:28 PM / 4 months ago

CPPIB joint venture buys U.S. housing portfolios for $1.6 bln

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March 16 (Reuters) - Canada Pension Plan Investment Board, Singapore's sovereign wealth fund GIC and property owner Scion Group LLC said on Thursday their joint venture has bought three U.S. student housing portfolios for about $1.6 billion.

The companies said the joint venture, Scion Student Communities LP, plans to buy more student housing properties, mainly in top tier university markets in the United States. (Reporting by Komal Khettry in Bengaluru; Editing by Sai Sachin Ravikumar)

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