American Campus Communities

American Campus Communities, Inc.

The headquarters in Bee Cave, Texas
Type	Public company
Traded as	NYSE: ACC S&P 400 component
Industry	Dormitory
Founded	1993; 31 years ago (1993)
Headquarters	Bee Cave, Texas, U.S.
Key people	Jennifer Beese, President William C. Bayless, Jr., CEO Daniel Perry, CFO
Revenue	US$942 million (2021)
Net income	US$35 million (2021)
Total assets	US$7.574 billion (2021)
Total equity	US$3.269 billion (2021)
Number of employees	3,006 (2021)
Website	americancampus.com
Footnotes / references [1]

American Campus Communities (ACC), Inc. is the largest developer, owner and manager of student housing communities in the United States.^[2] It is headquartered in Bee Cave, Texas, with an Austin, Texas postal address.^[3]

Co-founded in 1993 by CEO Bill Bayless, the company works with universities to develop, manage and finance on-campus communities. As of March 31, 2021, the company owned 166 student housing properties with approximately 111,900 beds, including its owned and third-party managed properties. ACC's total managed portfolio consists of 207 properties with approximately 142,400 beds.^[1]

History

From 1993 to 2003, the company partnered with SUNY system, the University of California System, and the Texas A&M University System to develop and manage student housing.

In 1996, Prairie View A&M University became the company's first university partner with the development of on campus, University Village. ACC developed housing for more than 2,000 students over the next two years.^[4]

In 1997, Bayless bought out his partners and in 1999, ACC developed its first off-campus residence, the Callaway House College Station at Texas A&M University for first‑year students.^[5]

In 2004, ACC became a public company via an initial public offering on the New York Stock Exchange, becoming the first publicly traded student housing company in the United States.^[6]

In 2005, the company worked with Arizona State University (ASU) on the Vista del Sol community, to pioneer the American Campus Equity program, an ownership model for on-campus student housing. With ACE, ACC brings equity to a project and serves as the university's financial, development and operating partner.^[7] In 2008, the company acquired the student housing division of GMH Communities Trust in a $1.4 billion transaction, doubling the size of the company.^[8]

In 2011, the company received $132 million contract to build a 1,008-bed student housing complex at Northern Illinois University.^[9] In 2013, ACC entered the Ivy League with Princeton's Merwick Stanworth faculty and staff housing community was its first project at an Ivy League university.^[10] It later expanded its partnership to develop and manage Princeton graduate student housing.^[11]

ASU's Manzanita Hall, became ACC's first redevelopment, reconfiguring the dilapidated 1960s high rise into a modern layout that promotes academic performance, collaboration and community.^[12] In 2016, ACC broke ground on its 100th development, U Club Sunnyside at WVU, CEO Bill Bayless’ alma mater.^[13] In 2017, ASU opened the Tooker House, the largest engineering residential college. This marked the sixth phase of the ASU partnership and 33rd LEED certified building.^[14]

In 2018, ACC began construction on an approximately $615 million residential community for participants of the Disney College program, now known as Disney Internships & Programs, through an American Campus Equity translation.^[15] In 2019, American Campus Communities joined Northeastern University and the city of Boston to open the 20-story residential tower, LightView,^[16] as part of the “Housing A Changing City: Boston 2030” initiative to improve the quality and quantity of housing for students attending Boston institutions of higher education.^[17]

In 2020, ACC collaborated with RB, the makers of Lysol, to set a formalized approach to cleanliness and disinfection at its student housing communities in response to the COVID-19 pandemic.^[18]

On April 19, 2022, ACC announced that it was acquired by The Blackstone Group for $12.8 billion and would be going private. Shareholders will be paid $65.47 cash per share.

Major milestones

• First publicly traded campus dorm REIT ^[19]
• Pioneered on-campus equity transaction structure (ACE) ^[20]
• Achieved Investment Grade Rating from Moody's and Standard & Poor's ^[21]
• CEO Bill Bayless was the Regional Winner of the Ernst and Young Entrepreneur of the Year award, and was subsequently named as a National Finalist (2007) ^[22]
• National Association of Home Builders (2013) Development Firm of the Year ^[23]
• Forbes “America's 100 Most Trustworthy” companies list (2012 & 2013) ^[24]
• In 2015, CEO Bill Bayless was featured by Commercial Property Executive as one of commercial real estate's Most Innovative Executives ^[25]
• Texas Monthly magazine named American Campus Communities one of the “Best Companies to Work For” on three separate occasions ^[26]
• Student Housing Business 5 INNOVATOR Awards (2016) ^[27]
• Student Housing Business 8 INNOVATOR Awards (2015) ^[28]
• Texan by Nature 20 (TxN20) Honoree, an official ranking of the Top 20 Texas-based companies leading conservation and sustainability in 2019 and 2020 ^[29][30]
• National Association of Home Builders Pillars of the Industry Award: Best in Green Market Rate Multifamily Community for Plaza Verde at University of California, Irvine in 2019 ^[31]
• Great Place to Work Certification based on employees’ feedback on the Trust Index™ Survey administered by Great Place to Work for 2020 ^[32]
• Globe St. CRE Best Bosses Awarded to CEO Bill Bayless in 2020 ^[33]

Partnerships

American Campus Communities and the mental health non profit, Hi, How Are You Project, aim to tackle issues of mental health among U.S. college students through a residence life training and awareness program at more than 70 universities across the country.^[34]

References

External links

• Official website
• Business data for American Campus Communities, Inc.:
  • Google Finance
  • Yahoo! Finance
  • Bloomberg
  • SEC filings
  • Nasdaq

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