Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Texas  + State of Texas  + Student Housing  | 
Austin= based ACC Campus housing sold to Blackstone

Austin-Based American Campus Communities Bought by Blackstone

A fund run by the Blackstone Group will acquire all outstanding shares of American Campus Communities (ACC) common stock for $65.47 a share. The transaction is valued at $12.8 billion. ACC is  the largest developer, owner and manager of student housing communities in the United States.

The portfolio comprises 166 owned student housing properties across 71 markets. The transaction includes 30 university housing projects in Texas where American Campus Communities assets were either developed, acquired, owned or managed. Six are in San Marcos and Lubbock and five are in Austin.

“Through our IPO, 18 years ago, we began our pioneering quest to transform the student housing sector into a mainstream, institutional asset class within the commercial real estate sector,” said ACC’s Bill Bayless. “We have certainly accomplished that mission.”

The ACC shares are to be acquired by Blackstone Core+ perpetual capital vehicles. The transaction is expected to close in the third quarter of 2022, subject to customary closing conditions.

Connect

Inside The Story

Bill Bayless

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition
TheGuarantors-01-cube