American Campus to buy GMH Communities for $1.4 billion
(Reuters) - Student-housing developer American Campus Communities Inc (ACC.N: Quote, Profile, Research) said it planned to buy GMH Communities Trust (GCT.N: Quote, Profile, Research) for about $1.4 billion, including debt of about $963 million.
The deal includes the acquisition of 64 wholly owned student housing properties as well as a minority interest in eight properties held in two existing joint ventures, American Campus said in a statement.
(Reporting by Dilipp S. Nag in Bangalore; Editing by Himani Sarkar)
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