American Campus Communities Interim Leasing Update for Fall 2015
April 07 2015 - 8:00AM
Business Wire
American Campus Communities, Inc. (NYSE:ACC), today released an
interim leasing update for the 2015-2016 academic year in
connection with the Interface Student Housing Conference held in
Austin, TX April 8 – 10, 2015.
As of April 3, 2015, the company’s same store wholly-owned
portfolio was 77.7 percent applied for and 71.1 percent leased
compared to 78.8 percent applied for and 71.2 percent leased for
the same date prior year, with a 2.9 percent current projected
rental rate increase over in-place rents. When excluding three
American Campus Equity (ACE®) freshman residence hall communities
at Arizona State University, which are subject to the university’s
first year housing requirement and assignment process, the
company’s same store wholly-owned portfolio was 79.3 percent
applied for and 72.5 percent leased compared to 78.8 percent
applied for and 71.1 percent leased for the same date prior year.
The company’s new wholly-owned properties are 63.3 percent leased
bringing the total wholly-owned portfolio to 70.6 percent
leased.
“We continue to see tailwinds in the sector and are very pleased
with our continued leasing progress, especially given the strength
of last year’s velocity, as our same store portfolio leasing
exceeds last year’s velocity by 140 basis points when considering
the aforementioned ASU residence halls,” said Bill Bayless,
American Campus CEO.
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. As of December 31, 2014, American Campus Communities
owned 169 student housing properties containing approximately
103,700 beds. Including its owned and third-party managed
properties, ACC's total managed portfolio consisted of 204
properties with approximately 130,700 beds. Visit
www.americancampus.com.
American Campus Communities, Inc., AustinRyan Dennison,
512-732-1000Investor Relations
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