AUSTIN, Texas--(BUSINESS WIRE)--
American Campus Communities, Inc. (ACC), the largest owner, manager and developer of high-quality student housing properties in the U.S., was named the Multifamily Development Firm of the Year by the National Association of Home Builders (NAHB) at the association’s Multifamily Pillars of the Industry Awards in October.
“To be recognized by an organization as prominent as the NAHB is truly an honor,” said Bill Bayless, ACC CEO. “This award underscores our ability to bring our development expertise to bear not only for our own benefit but also for our university partners via our ACE® program, and other developers and land owners via our mezzanine pre-sale program.”
As described by the NAHB in a press release, the Multifamily Development Firm of the Year award “honors excellence in multifamily housing development, financial performance, innovative development strategies and practices, and successful achievement of the company’s vision and goals.”
“American Campus Communities has consistently developed outstanding properties that meet the evolving needs of the student housing market,” said W. Dean Henry, CEO of Legacy Partners Residential in Foster City, Calif., and chairman of NAHB’s Multifamily Leadership Board. “ACC is a true leader in the student housing market and is well deserving of this award.”
In 2012, ACC delivered 15 properties, consisting of 8,939 beds, more than 3.4 million sq. ft., and representing nearly $600 million in development. The projects opened fully stabilized with a combined occupancy of 96.0 percent. ACC developed a wide variety of property types in 2012, from two-story wood-framed, surface-parked townhomes to high-rise residential mixed-use buildings in dense urban environments.
ACC, in collaboration with Portland State University, was also named Best Example of Green Building Concepts Finalist by the 2013 NAHB’s Multifamily Pillars of the Industry Awards for development of University Pointe at College Station in Portland, Oregon.
A remarkable mixed-use high-density urban neighborhood, the LEED® Gold University Pointe at College Station was built with sustainable features including: green roofs, energy efficient HVAC and indoor lighting systems, low-consumption indoor fixtures, high-performing irrigation, green housekeeping, recycling, bicycle storage, and direct access to two light rail MAX stops adjacent to the building. In total, the company has developed or is developing 16 LEED communities.
The $87.0 million University Pointe at College Station, completed in 2012, is an example of the company’s American Campus Equity (ACE®) program, an equity transaction structure whereby ACC uses its equity to fund on-campus development through a long-term ground lease with universities.
About American Campus Communities
American Campus Communities, Inc., founded in Austin, TX in 1993, is the largest developer, owner and manager of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management, and operational management of student housing properties. American Campus Communities owns 166 student housing properties containing approximately 101,700 beds. Including its owned and third-party managed properties, ACC’s total managed portfolio consists of 202 properties with approximately 127,800 beds. Visit americancampus.com or studenthousing.com.
About National Association of Home Builders
The National Association of Home Builders is a Washington-based trade association representing more than 140,000 members involved in home building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. NAHB is affiliated with 800 state and local home builders associations around the country. NAHB’s builder members will construct about 80 percent of the new housing units projected for this year.
In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which American Campus operates, management’s beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.
- Real Estate
- American Campus Communities
Gina Cowart, 512-732-1000