Profile: American Campus Communities Inc (ACC)
28 Sep 2016
American Campus Communities, Inc., incorporated on March 9, 2004, is a self-managed and self-administered equity real estate investment trust (REIT). The Company holds an approximately 98.8% limited partnership interest in American Campus Communities Operating Partnership L.P. Its segments include Wholly-Owned Properties, On-Campus Participating Properties, Development Services, and Property Management Services. The Company is engaged in the acquisition, design, financing, development, construction management, leasing and management of student housing properties. The Company's total owned and third-party managed portfolio comprises over 200 properties with approximately 128,900 beds in approximately 43,400 units. The Company's portfolio contains over 160 properties with approximately 99,400 beds in approximately 32,500 apartment units. Its property portfolio also includes over 130 owned off-campus student housing properties; over 20 American Campus Equity (ACE) properties, which are operated under ground/facility leases with approximately 10 university systems, and over five on-campus participating properties operated under ground/facility leases with the related university systems.
The Company's Wholly-Owned Properties segment consists of off-campus properties, which are generally located in close proximity to the school campus. It includes ACE, which is branded and marketed to colleges and universities as the ACE program. The Company's Wholly-Owned properties include The Callaway House, The Village at Science Drive, University Club Apartments, Entrada Real, The Woods at Greenland, Royal Lexington, City Parc at Fry Street, Callaway Villas, Olde Towne University Square, Plaza on University, U Centre at Northgate and University Walk.
On-Campus Participating Properties
The Company's On-Campus Participating Properties segment includes on-campus properties that are operated under long-term ground/facility leases with university systems. It also manages these properties under long-term management agreements, and it is paid management fees equal to a percentage of defined gross receipts. The Company's On-Campus Participating Properties include University Village-PVAMU, University College-PVAMU, Cullen Oaks and College Park.
The Development Services segment consists of development and construction management services that it provides through one of its taxable REIT subsidiaries (TRSs) for third-party owners. These services range from short-term consulting projects to long-term full-scale development and construction projects. The Company's development services include pre-development, design and financial structuring services. Its pre-development services include feasibility studies for third-party owners and design services. Feasibility studies include an initial feasibility analysis, review of conceptual design and assistance with master planning. Its design services include coordination with the architect and other members of the design team, review of construction plans and assistance with project due diligence and project budgets. Its Construction management services consist of hiring of project professionals and a general contractor, coordinating and supervising the construction, equipping and furnishing the property, site visits and coordination and administration of all activities necessary for project completion in accordance with plans and specifications and with verification of adequate insurance. Its third-party services consist of development services, which are provided to university and college clients.
Property Management Services
The Property Management Services segment includes revenues generated from third-party management contracts. It includes operations, such as marketing, leasing administration, facilities maintenance, business administration, accounts payable, accounts receivable, financial reporting, capital projects and residence life student development. The Company provides these services pursuant to management agreements that have initial terms that range from 1 to 5 years.
American Campus Communities Inc
12700 Hill Country Blvd Ste T-20
AUSTIN TX 78738-6307