American Campus Communities, Inc. (NYSE:ACC), the largest owner, manager and developer of high-quality student housing properties in the U.S., today released an interim leasing update for the 2016-2017 academic year in connection with the Interface Student Housing Conference held in Austin, TX April 13 – 15, 2016.

As of April 8, 2016, the company’s same store wholly-owned portfolio was 79.3 percent applied for and 73.6 percent leased compared to 78.5 percent applied for and 71.9 percent leased for the same date prior year, with a 3.0 percent current projected rental rate increase over in-place rents. The company’s new wholly-owned properties are 58.3 percent leased bringing the total wholly-owned portfolio to 73.0 percent leased.

“We continue to see tailwinds in the sector and are very pleased with our leasing execution to date,” said Bill Bayless, American Campus CEO. “With our same store portfolio leasing velocity exceeding what was another strong lease-up last year, we are well positioned for continued internal value creation.”

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.

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, 2015, American Campus Communities owned 162 student housing properties containing approximately 99,400 beds. Including its owned and third-party managed properties, ACC's total managed portfolio consisted of 201 properties with approximately 128,900 beds. Visit www.americancampus.com.

American Campus Communities, Inc., AustinRyan Dennison, 512-732-1000Investor Relations

American Campus Communit... (NYSE:ACC)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more American Campus Communit... Charts.
American Campus Communit... (NYSE:ACC)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more American Campus Communit... Charts.