Company:American Campus Communities

From HandWiki
Revision as of 19:42, 27 June 2023 by MainAI6 (talk | contribs) (correction)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Short description: American real estate investment trust
American Campus Communities, Inc.
TypePublic company
IndustryDormitory
Founded1993; 31 years ago (1993)
HeadquartersBee Cave, Texas, U.S.
Key people
Jennifer Beese, President
William C. Bayless, Jr., CEO
Daniel Perry, CFO
RevenueIncrease US$942 million (2021)
Decrease US$35 million (2021)
Total assetsIncrease US$7.574 billion (2021)
Total equityIncrease US$3.269 billion (2021)
Number of employees
3,006 (2021)
Websiteamericancampus.com
Footnotes / references
[1]

American Campus Communities (ACC), Inc. is the largest developer, owner and manager of student housing communities in the United States.[2] It is headquartered in Bee Cave, Texas, with an Austin, Texas postal address.[3]

Co-founded in 1993 by CEO Bill Bayless, the company works with universities to develop, manage and finance on-campus communities. 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 partnered with SUNY system, the University of California System, and the Texas A&M University System to develop and manage student housing.

In 1996, Prairie View A&M University became the company's first university partner with the development of on campus, University Village. ACC developed housing for more than 2,000 students over the next two years.[4]

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 for first‑year students.[5]

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.[6]

In 2005, the company worked with Arizona State University (ASU) 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.[7] In 2008, the company acquired the student housing division of GMH Communities Trust in a $1.4 billion transaction, doubling the size of the company.[8]

In 2011, the company received $132 million contract to build a 1,008-bed student housing complex at Northern Illinois University.[9] 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.[10] It later expanded its partnership to develop and manage Princeton graduate student housing.[11]

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.[12] In 2016, ACC broke ground on its 100th development, U Club Sunnyside at WVU, CEO Bill Bayless’ alma mater.[13] 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.[14]

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.[15] In 2019, American Campus Communities joined Northeastern University and the city of Boston to open the 20-story residential tower, LightView,[16] 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.[17]

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.[18]

On April 19, 2022, ACC announced that it was acquired by The Blackstone Group for $12.8 billion and would be going private. Shareholders will be paid $65.47 cash per share.

Major milestones

  • First publicly traded campus dorm REIT [19]
  • Pioneered on-campus equity transaction structure (ACE) [20]
  • Achieved Investment Grade Rating from Moody's and Standard & Poor's [21]
  • 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) [22]
  • National Association of Home Builders (2013) Development Firm of the Year [23]
  • Forbes “America's 100 Most Trustworthy” companies list (2012 & 2013) [24]
  • In 2015, CEO Bill Bayless was featured by Commercial Property Executive as one of commercial real estate's Most Innovative Executives [25]
  • Texas Monthly magazine named American Campus Communities one of the “Best Companies to Work For” on three separate occasions [26]
  • Student Housing Business 5 INNOVATOR Awards (2016) [27]
  • Student Housing Business 8 INNOVATOR Awards (2015) [28]
  • Texan by Nature 20 (TxN20) Honoree, an official ranking of the Top 20 Texas-based companies leading conservation and sustainability in 2019 and 2020 [29][30]
  • 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 [31]
  • Great Place to Work Certification based on employees’ feedback on the Trust Index™ Survey administered by Great Place to Work for 2020 [32]
  • Globe St. CRE Best Bosses Awarded to CEO Bill Bayless in 2020 [33]

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.[34]

References

  1. ↑ 1.0 1.1 "American Campus Communities Inc. 2020 Form 10-K Annual Report". U.S. Securities and Exchange Commission. https://www.sec.gov/ix?doc=/Archives/edgar/data/1283630/000128363021000048/acc-20201231.htm. 
  2. ↑ "Largest U.S. student housing owners by property portfolio 2021" (in en). https://www.statista.com/statistics/934609/student-housing-owners-by-number-of-properties-usa/. 
  3. ↑ "Contact Us". American Campus Communities. https://www.americancampus.com/contact-us. "12700 Hill Country Boulevard Suite T-200 Austin, Texas 78738"  - Compare with the city limits map of Bee Cave, Texas. The address is not in the Austin city limits, but in fact is in Bee Cave.
  4. ↑ "Prairie View A&M University and ACC". https://www.americancampus.com/for-universities/case-studies/prarie-view-management. 
  5. ↑ "Callaway House". https://www.bizjournals.com/austin/news/2017/01/26/meet-bill-bayless-ceo-american-campus-communities.html. 
  6. ↑ "Inline XBRL Viewer". https://www.sec.gov/ix?doc=/Archives/edgar/data/1283630/000128363020000029/acc2019123110knew.htm%C2%A0+https://www.bizjournals.com/austin/stories/2004/04/26/daily6.html. 
  7. ↑ "ACE Program". https://schooldesigns.com/Projects/arizona-state-university-vista-del-sol/. 
  8. ↑ "Sale of GMH Communities to American Campus complete". https://www.bizjournals.com/philadelphia/stories/2008/06/09/daily42.html. 
  9. ↑ "American Campus Communities building $132M housing project". Austin Business Journal. https://www.bizjournals.com/austin/news/2011/04/20/american-campus-communities-building.html. 
  10. ↑ "American Campus Communities Begins Construction on Owned Faculty and Staff Housing Project for Princeton". Yahoo News. https://www.yahoo.com/now/2013-05-09-american-campus-communities-begins-construction-on.html. 
  11. ↑ "Princeton U. Housing Project Is Under Way". Globe St.. https://www.globest.com/sites/globest/2013/05/09/princeton-u-housing-project-is-under-way/. 
  12. ↑ "Manzanita Hall 2.0: Rebirth of an icon". ASU News. 2013. https://news.asu.edu/content/manzanita-hall-20-rebirth-icon. 
  13. ↑ "American Campus Communities Breaks Ground on Student Housing Project at West Virginia University". Multifamily Biz. 2015. https://www.multifamilybiz.com/news/6366/american_campus_communities_breaks_ground_on_stude.... 
  14. ↑ "ASU's Tooker House earns awards at Student Housing Conference". AZ Big Media. 2018. https://azbigmedia.com/business/education-news/asus-tooker-house-earns-awards-at-student-housing-conference/. 
  15. ↑ "Disney Breaks Ground on $630M Student Housing Project". Multi-Housing News. https://www.multihousingnews.com/post/disney-breaks-ground-on-630m-student-housing-project/. 
  16. ↑ "Northeastern University, The City of Boston and American Campus Communities Come Together to Open LightView Student Living". Bloomberg. 2019. https://www.bloomberg.com/press-releases/2019-09-10/northeastern-university-the-city-of-boston-and-american-campus-communities-come-together-to-open-lightview-student-living. 
  17. ↑ "Northeastern University, The City of Boston and American Campus Communities Come Together to Open LightView Student Living Community". Business Wire. 2019. https://www.businesswire.com/news/home/20190910006059/en/Northeastern-University-The-City-of-Boston-and-American-Campus-Communities-Come-Together-to-Open-LightView-Student-Living-Community. 
  18. ↑ "American Campus Communities Collaborates with RB, the Makers of Lysol, to Create Comprehensive Disinfection and Hygiene Education Protocol for Student Housing". Nasdaq. 2020. https://www.nasdaq.com/press-release/american-campus-communities-collaborates-with-rb-the-makers-of-lysol-to-create. 
  19. ↑ "American Campus Communities, Inc." (in en). https://www.reit.com/investing/reit-directory/american-campus-communities-inc. 
  20. ↑ "Student Housing & Student Apartments - News & Media - American Campus Communities". https://www.americancampus.com/about-us/media/arizona-state-university-and-american-campus-c-(1). 
  21. ↑ "Credit Ratings - American Campus Communities". http://www.snl.com/irweblinkx/creditratingsdetail.aspx?IID=4092925&Key=4092925&Sub=0. 
  22. ↑ "Student Housing & Student Apartments - Executive Team - American Campus Communities". https://www.americancampus.com/about-us/leadership-team/executive-team. 
  23. ↑ "American Campus receives 2013 Development Firm of the Year and other accolades by NAHB" (in en). 2013-12-18. https://www.businesswire.com/news/home/20131218006223/en/American-Campus-receives-2013-Development-Firm-of-the-Year-and-other-accolades-by-NAHB. 
  24. ↑ "Austin firm named to Forbes' 'most trustworthy' list". https://www.bizjournals.com/austin/news/2013/03/20/austin-firm-named-to-forbes-most.html. 
  25. ↑ "Most Innovative CRE Executives" (in en-US). 2015-05-20. https://www.commercialsearch.com/news/may-issue-most-innovative-executives/. 
  26. ↑ "Texas Partners Honor 60 Best Companies to Work for in Texas at Awards Luncheon" (in en-US). 2015-02-01. https://flippengroup.com/press-release-texas-partners-honor-the-60-best-companies-to-work-for-in-texas-at-awards-luncheon/. 
  27. ↑ "American Campus Communities Wins Five Innovator Awards from Student Housing Business Magazine" (in en). 2017-04-11. https://www.businesswire.com/news/home/20170411006055/en/American-Campus-Communities-Wins-Five-Innovator-Awards-from-Student-Housing-Business-Magazine. 
  28. ↑ "The 2015 Student Housing Business Innovator Award Winners" (in en-US). 2015-04-15. https://www.studenthousingbusiness.com/the-2015-student-housing-business-innovator-award-winners/. 
  29. ↑ "American Campus Communities Named in the Inaugural Texan by Nature 20". https://www.bloomberg.com/press-releases/2019-11-21/american-campus-communities-named-in-the-inaugural-texan-by-nature-20. 
  30. ↑ "Texan by Nature Recognizes American Campus Communities as Conservation and Sustainability Leader" (in en-US). https://finance.yahoo.com/news/texan-nature-recognizes-american-campus-184200128.html. 
  31. ↑ "Multifamily Pillars of the Industry Awards: 2020 Winners". https://www.nahbclassic.org/generic.aspx?genericContentID=276686. 
  32. ↑ "American Campus Communities Earns Great Place to Work™ Certification" (in en-AU). https://au.news.yahoo.com/american-campus-communities-earns-great-203200634.html. 
  33. ↑ "Student Housing & Student Apartments - News & Media - American Campus Communities". https://www.americancampus.com/about-us/media/american-campus-communities-ceo-bill-bayless-n-(1). 
  34. ↑ "'Hi, How Are You?' Project Showcases Mental Health In Austin" (in en). 2020-10-06. https://patch.com/texas/downtownaustin/hi-how-are-you-project-showcases-mental-health-austin. 

External links




Retrieved from "https://handwiki.org/wiki/index.php?title=Company:American_Campus_Communities&oldid=3062598"