American Campus Communities

American Campus Communities Inc.
Public
Traded as NYSE: ACC
S&P 400 component
Industry Dormitory
Founded 1993 (1993)
Headquarters Austin, Texas
Key people
 Edward Lowenthal, Chairman
William C. Bayless, Jr., CEO
Jonathan A. Graf, CFO
Revenue Increase $0.741 billion (2017)
Decrease $0.070 billion (2017)
Total assets Increase $6.897 billion (2017)
Total equity Increase $3.484 billion (2017)
Number of employees
 3,183 (2017)
Website www.americancampus.com
Footnotes / references
[1]

American Campus Communities Inc. is a publicly-traded real estate investment trust that invests in dormitory housing. As of December 31, 2016, the company owned and/or managed 206 properties with approximately 134,100 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]

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]

In 2017, Jim Hopke was promoted from chief operating officer to president of the company.[12]

In 2017, the company acquired a 283-unit complex next to the University of Washington in Seattle for $112.1 million[13] and a portfolio of 7 properties for $590.6 million.[14]

References

  1. 1 2 3 "American Campus Communities Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. 1 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. ↑ Anderson, Will (January 12, 2017). "Austin student housing developer names new president as it prepares next wave of leaders". American City Business Journals.
  13. ↑ Stiles, Marc (June 9, 2017). "Seattle complex sells in King County's second-biggest apartment deal of the year". American City Business Journals.
  14. ↑ "American Campus Communities, Inc. Announces Acquisition of Core Spaces/DRW Portfolio" (Press release). Business Wire. September 25, 2017.
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