American Campus Communities Inc. is a publicly-traded real estate investment trust that invests in dormitory housing.
As of December 31, 2016, the company owned and/or managed 203 properties with approximately 132,000 beds, making it the largest private dormitory manager in the United States.
The company owns and develops both off-campus and on-campus dormitories for universities that outsource the financial responsibility of dormitory construction and management.
Video American Campus Communities
History
The company was founded in 1993 by Bill Bayless.
In 1997, Bayless bought out his partners.
The company became a public company via an initial public offering on August 17, 2004.
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.
In 2011, the company received a contract to build a $132 million 1,008-bed student housing complex at Northern Illinois University.
In 2013, the company was included on the list of "America's 100 Most Trustworthy Companies" published by Forbes.
In 2015, the company broke ground on a new $120 million student housing complex to house 1,600 engineering students at Arizona State University.
In 2016, the company completed a new $44.2 million student housing complex at the University of Louisville.
In 2017, Jim Hopke was promoted from chief operating officer to president of the company.
In 2017, the company acquired a 283-unit complex next to the University of Washington in Seattle for $112.1 million and a portfolio of 7 properties for $590.6 million.
Maps American Campus Communities
References
External links
Source of the article : Wikipedia
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