Company Website:
http://www.studenthousing.com/
AUSTIN, Texas -- (Business Wire)
American Campus Communities, Inc. (NYSE:ACC), the largest owner, manager
and developer of high-quality student housing properties in the U.S.,
today released leasing information for the 2014-2015 academic year on
Form 8-K.
As of September 29, 2014, the Q4 2014 same store properties are 97.5
percent leased with a 2.1 percent final projected rental rate increase
compared to 96.8 percent as of September 30, 2013. The total new store
properties are leased to 98.5 percent. The combined total wholly-owned
portfolio is 97.5 percent leased as of September 29, 2014.
“We are pleased to report Fall 2014 same store occupancy of 97.5
percent, once again leading the public student housing sector and above
the midpoint of our 2014 guidance range,” said Bill Bayless, American
Campus CEO. “With the 2.8 percent rental revenue growth generated by
this lease-up, and our ongoing asset management efforts, we believe we
are positioned to produce same store net operating income growth in
excess of three percent for the 2014-2015 academic year.”
About American Campus Communities
American Campus Communities, Inc. is the largest owner, manager and
developer of high-quality student housing communities in the United
States. The company is a fully integrated, self-managed and
self-administered equity real estate investment trust (REIT) with
expertise in the design, finance, development, construction management
and operational management of student housing properties. American
Campus Communities owns 166 student housing properties containing
approximately 102,200 beds. Including its owned and third-party managed
properties, ACC's total managed portfolio consists of 198 properties
with approximately 128,000 beds. Visit www.americancampus.com
and www.studenthousing.com.
Forward-Looking Statements
In addition to historical information, this press release contains
forward-looking statements under the federal securities law. These
statements are based on current expectations, estimates and projections
about the industry and markets in which American Campus operates,
management's beliefs, and assumptions made by management.
Forward-looking statements are not guarantees of future performance and
involve certain risks and uncertainties, which are difficult to predict.
Contacts:
American Campus Communities, Inc.
Ryan Dennison, 512-732-1000
Source: American Campus Communities, Inc.
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