American Campus Communities Interim Leasing Update for Fall 2016
April 12 2016 - 4:01PM
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 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160412006696/en/
American Campus Communities, Inc., AustinRyan Dennison,
512-732-1000Investor Relations
American Campus Communit... (NYSE:ACC)
Historical Stock Chart
From Mar 2024 to Apr 2024
American Campus Communit... (NYSE:ACC)
Historical Stock Chart
From Apr 2023 to Apr 2024