American Campus Communities

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American Campus Communities Inc.
Public company
Traded as NYSEACC
S&P 400 Component
Industry Student housing
Dormitory
Founded 1993; 24 years ago (1993)
Headquarters Austin, Texas
Key people
William C. Bayless, Jr., CEO[1]
Revenue Increase US$0.738 billion (2016)[1]
Decrease US$0.100 billion (2016)[1]
Total assets Decrease US$5.865 billion (2016)[1]
Total equity Increase US$3.444 billion (2016)[1]
Number of employees
3,170 (2016)[1]
Website www.americancampus.com

American Campus Communities Inc. is a publicly-traded real estate investment trust that acquires, develops, and operates student housing in the United States.

As of December 31, 2016, the company owned and/or managed 203 properties with approximately 132,000 beds, making it the largest private manager of student housing in the United States.[1]

The company owns and develops student housing both off-campus and on-campus for universities that outsource the financial responsibility of constructing and managing student housing.

History[edit]

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]

References[edit]

  1. ^ a b c d e f g h American Campus Communities Inc. 2016 Form 10-K Annual Report
  2. ^ a b 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. 

External links[edit]