American Campus Communities

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American Campus Communities Inc.
TypePublic company
NYSE: ACC
S&P 400 component
IndustryDormitory
Founded1993; 29 years ago (1993)
HeadquartersAustin, Texas
Key people
James C. Hopke, Jr. President
William C. Bayless, Jr., CEO
Daniel Perry, CFO
RevenueDecrease $870 million (2020)
Decrease $72 million (2020)
Total assetsDecrease $7.531 billion (2020)
Total equityDecrease $3.156 billion (2020)
Number of employees
2,988 (2020)
Websitewww.americancampus.com
Footnotes / references
[1]

American Campus Communities Inc., headquartered in Austin, Texas, is the largest developer, owner and manager of student housing communities in the United States. Co-founded in 1993 by CEO Bill Bayless, the company works with universities to develop, manage and finance on-campus communities by creating customized solutions to fit the university's needs. 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 established itself as a third-party developer and manager of student housing, pioneering large development transactions with the SUNY system, the University of California System and the Texas A&M University System.

In 1996, Prairie View A&M University became the company's first university partner with the development of on campus, University Village, opening with 100 percent occupancy and 400 students on the waitlist. ACC developed housing for more than 2,000 students over the next two years.[2]

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. It evolved ACC's full-service, high-amenity model and launched the Callaway House brand of residences for first‑year students.[3]

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.[4]

In 2005, the company worked with Arizona State University 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.[5] In 2008, the company acquired the student housing division of GMH Communities Trust in a $1.4 billion transaction that doubled the size of the company.[6]

In 2011, the company received a contract to build a $132 million 1,008-bed student housing complex at Northern Illinois University.[7] 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.[8] It later expanded its partnership to develop and manage Princeton graduate student housing.[9]

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.[10] In 2016, ACC broke ground on its 100th development, U Club Sunnyside at WVU, CEO Bill Bayless’ alma mater.[11] 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.[12]

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.[13] In 2019, American Campus Communities joined Northeastern University and the city of Boston to open the 20-story residential tower, LightView,[14] 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.[15]

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.[16]

Major Milestones[]

  • First publicly-traded campus dorm REIT [17]
  • Pioneered on-campus equity transaction structure (ACE) [18]
  • Achieved Investment Grade Rating from Moody's and Standard & Poor's [19]
  • 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) [20]
  • National Association of Home Builders (2013) Development Firm of the Year [21]
  • Forbes “America's 100 Most Trustworthy” companies list (2012 & 2013) [22]
  • In 2015, CEO Bill Bayless was featured by Commercial Property Executive as one of commercial real estate's Most Innovative Executives [23]
  • Texas Monthly magazine named American Campus Communities one of the “Best Companies to Work For” on three separate occasions [24]
  • Student Housing Business 5 INNOVATOR Awards (2016) [25]
  • Student Housing Business 8 INNOVATOR Awards (2015) [26]
  • Texan by Nature 20 (TxN20) Honoree, an official ranking of the Top 20 Texas-based companies leading conservation and sustainability in 2019 and 2020 [27][28]
  • 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 [29]
  • Great Place to Work Certification based on employees’ feedback on the Trust Index™ Survey administered by Great Place to Work for 2020 [30]
  • Globe St. CRE Best Bosses Awarded to CEO Bill Bayless in 2020 [31]

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.[32]

References[]

  1. ^ a b "American Campus Communities Inc. 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ "Prairie View A&M University and ACC".{{cite web}}: CS1 maint: url-status (link)
  3. ^ "Callaway House".{{cite web}}: CS1 maint: url-status (link)
  4. ^ "Inline XBRL Viewer". www.sec.gov. Retrieved 2021-07-09.
  5. ^ "ACE Program".{{cite web}}: CS1 maint: url-status (link)
  6. ^ "Sale of GMH Communities to American Campus complete". Philadelphia Business Journals.{{cite web}}: CS1 maint: url-status (link)
  7. ^ "American Campus Communities building $132M housing project". Austin Business Journal.
  8. ^ "American Campus Communities Begins Construction on Owned Faculty and Staff Housing Project for Princeton". Yahoo News.
  9. ^ "Princeton U. Housing Project Is Under Way". Globe St.
  10. ^ "Manzanita Hall 2.0: Rebirth of an icon". ASU News. 2013.
  11. ^ "American Campus Communities Breaks Ground on Student Housing Project at West Virginia University". Multifamily Biz. 2015.
  12. ^ "ASU's Tooker House earns awards at Student Housing Conference". AZ Big Media. 2018.
  13. ^ "Disney Breaks Ground on $630M Student Housing Project". Multi-Housing News.
  14. ^ "Northeastern University, The City of Boston and American Campus Communities Come Together to Open LightView Student Living". Bloomberg. 2019.
  15. ^ "Northeastern University, The City of Boston and American Campus Communities Come Together to Open LightView Student Living Community". Business Wire. 2019.
  16. ^ "American Campus Communities Collaborates with RB, the Makers of Lysol, to Create Comprehensive Disinfection and Hygiene Education Protocol for Student Housing". Nasdaq. 2020.
  17. ^ "American Campus Communities, Inc". www.reit.com. Retrieved 2021-07-09.
  18. ^ "Student Housing & Student Apartments - News & Media - American Campus Communities". www.americancampus.com. Retrieved 2021-07-09.
  19. ^ "Credit Ratings - American Campus Communities". www.snl.com. Retrieved 2021-07-09.
  20. ^ "Student Housing & Student Apartments - Executive Team - American Campus Communities". www.americancampus.com. Retrieved 2021-07-09.
  21. ^ "American Campus receives 2013 Development Firm of the Year and other accolades by NAHB". www.businesswire.com. 2013-12-18. Retrieved 2021-07-09.
  22. ^ "Austin firm named to Forbes' 'most trustworthy' list". www.bizjournals.com. Retrieved 2021-07-09.{{cite web}}: CS1 maint: url-status (link)
  23. ^ "Most Innovative CRE Executives". Commercial Property Executive. 2015-05-20. Retrieved 2021-07-09.
  24. ^ "Texas Partners Honor 60 Best Companies to Work for in Texas at Awards Luncheon". Flippen Group. 2015-02-01. Retrieved 2021-07-09.
  25. ^ "American Campus Communities Wins Five Innovator Awards from Student Housing Business Magazine". www.businesswire.com. 2017-04-11. Retrieved 2021-07-09.
  26. ^ "The 2015 Student Housing Business Innovator Award Winners". Student Housing Business. 2015-04-15. Retrieved 2021-07-09.
  27. ^ "American Campus Communities Named in the Inaugural Texan by Nature 20". www.bloomberg.com. Retrieved 2021-07-09.{{cite web}}: CS1 maint: url-status (link)
  28. ^ "Texan by Nature Recognizes American Campus Communities as Conservation and Sustainability Leader". finance.yahoo.com. Retrieved 2021-07-09.
  29. ^ "Multifamily Pillars of the Industry Awards: 2020 Winners". www.nahbclassic.org. Retrieved 2021-07-09.
  30. ^ "American Campus Communities Earns Great Place to Work™ Certification". au.news.yahoo.com. Retrieved 2021-07-09.
  31. ^ "Student Housing & Student Apartments - News & Media - American Campus Communities". www.americancampus.com. Retrieved 2021-07-09.
  32. ^ "'Hi, How Are You?' Project Showcases Mental Health In Austin". Austin, TX Patch. 2020-10-06. Retrieved 2021-07-09.

External links[]

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