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Texas  + Student Housing  | 
The student housing market shows strong fundamentals heading into the fall 2022 academic year, says Yardi Matrix

American Campus Sells Portfolio for $508M

Austin, TX-based American Campus Communities closed on the sale of a non-core student housing portfolio containing 12,083 beds across 19 assets. Buyer Saban Real Estate Group paid $508 million to ACC, which included prepayment of $197.3 million of secured mortgage debt. ACC will provide third-party management for 11 of the assets during the transition period.

ACC’s goal is a portfolio of properties that are near to campuses, according to Bill Bayless, CEO of ACC. “Our overall proximity to campus improves to a median distance to campus of only one-tenth of a mile, from two-tenths of a mile, and our portfolio now contains only two remaining assets located more than one mile from campus,” he said.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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