American Campus Communities

American Campus Communities Inc. is a publicly traded real estate investment trust that invests in dormitory housing. As of December 31, 2019, the company owned and/or managed 203 properties with approximately 139,300 beds, making it the largest private dormitory manager in the United States. The company owns and develops both off-campus and on-campus dormitories for universities that outsource the financial responsibility of dormitory construction and management.[1]

American Campus Communities Inc.
TypePublic company
NYSE: ACC
S&P 400 component
IndustryDormitory
Founded1993 (1993)
HeadquartersAustin, Texas
Key people
Edward Lowenthal, Chairman
William C. Bayless, Jr., CEO
Jonathan A. Graf, CFO
Revenue $943 million (2019)
$84 million (2019)
Total assets $7.559 billion (2019)
Total equity $3.338 billion (2019)
Number of employees
3,096 (2019)
Websitewww.americancampus.com
Footnotes / references
[1]

History

The company was founded in 1993 by Bill Bayless.[2]

In 1997, Bayless bought out his partners.[2]

The company became a public company via an initial public offering on August 17, 2004.[1][3][4]

In 2008, the company acquired the student housing division of GMH Communities Trust in a $1.4 billion transaction that doubled the size of the company.[5][6][7]

In 2011, the company received a contract to build a $132 million 1,008-bed student housing complex at Northern Illinois University.[8]

In 2013, the company was included on the list of "America's 100 Most Trustworthy Companies" published by Forbes.[9]

In 2015, the company broke ground on a new $120 million student housing complex to house 1,600 engineering students at Arizona State University.[10]

In 2016, the company completed a new $44.2 million student housing complex at the University of Louisville.[11] Also completed in the same year was 2125 Franklin, serving the University of Oregon in Eugene, OR. The complex has 5 stories with 192 units that house 735 students in spaces that range from 621-1,581 square feet and 493 parking spaces.[12]

In 2017, Jim Hopke was promoted from chief operating officer to president of the company.[13]

In 2017, the company acquired a 283-unit complex next to the University of Washington in Seattle for $112.1 million[14] and a portfolio of 7 properties for $590.6 million.[15]

References
  1. "American Campus Communities Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. Buchholz, Jan (January 26, 2017). "Meet Bill Bayless, CEO, American Campus Communities". American City Business Journals.
  3. "American Campus Communities seeks $253M IPO". American City Business Journals. April 26, 2004.
  4. "American Campus Communities' IPO misses mark". American City Business Journals. August 12, 2004.
  5. "Sale of GMH Communities to American Campus complete". American City Business Journals. June 13, 2008.
  6. "American Campus Communities Completes the Acquisition of GMH Communities Trust" (Press release). Business Wire. June 11, 2008.
  7. "American Campus Communities to Acquire GMH Communities Trust" (Press release). Business Wire. February 12, 2008.
  8. "American Campus Communities building $132M housing project". American City Business Journals. April 20, 2011.
  9. Sunnucks, Mike (March 20, 2013). "Austin firm named to Forbes' 'most trustworthy' list". American City Business Journals.
  10. Sunnucks, Mike (November 10, 2015). "$120M live-learn development slated for ASU engineering students". American City Business Journals.
  11. Finley, Marty (January 5, 2016). "Here's when U of L students can move in to campus' newest housing complex". American City Business Journals.
  12. KTGY Architecture + Planning Student Housing Specs
  13. Anderson, Will (January 12, 2017). "Austin student housing developer names new president as it prepares next wave of leaders". American City Business Journals.
  14. Stiles, Marc (June 9, 2017). "Seattle complex sells in King County's second-biggest apartment deal of the year". American City Business Journals.
  15. "American Campus Communities, Inc. Announces Acquisition of Core Spaces/DRW Portfolio" (Press release). Business Wire. September 25, 2017.
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