American Campus Communities
Encyclopedia
American Campus Communities Inc. (ACC and American Campus) is a university housing development company with its headquarters in Bee Cave
, Texas
, near Austin
.
ACC is one of the largest developers
and managers
of private student housing in the United States. In 2004, American Campus became the first student housing real estate investment trust
, (REIT) to become publicly traded. Currently, American Campus manages 145 properties with over 92,000 beds, many in partnership with universities on campus property. Some developments also involve the use of third party nonprofit owner/lessors, which allow tax-exempt bonds to be used to finance the developments.
American Campus is part of a growing trend of independently operated housing serving university students; in particular, cash-strapped public universities have found it financially beneficial to allow outside companies to assume the debt generated by housing projects, freeing up capital for the university to spend on other facilities. For example, American Campus developed and manages four properties for the University of California, Irvine
, that are owned by the nonprofits EAH Housing
and Collegiate Housing Foundation, respectively. While under state law, any money charged by the University of California directly for housing must be used for housing purposes, the rent paid by EAH and the Collegiate Housing Foundation for use of campus property can be used for any purpose. Further, the university bears none of the debt use to finance the property, yet uses these private owned facilities as part of the housing guarantee it extends to students.
, Texas
, near Austin
. The ACM headquarters occupies 46000 square foot of space. The company offices were scheduled to open there in December 2010.
Previously American Campus Communities had its headquarters in Las Cimas
, an office complex in unincorporated
Travis County
, Texas, near Austin. ACC sublet area that was leased by Dell
USA. ACM moved out of Las Cimas and moved to Bee Caves.
Bee Cave, Texas
Bee Cave is a city in Travis County, Texas, United States. The population was 656 at the 2000 census; in the 2004 census estimate it was 1,700.-Geography:Bee Cave is located at...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, near Austin
Austin, Texas
Austin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...
.
ACC is one of the largest developers
Real estate development
Real estate development, or Property Development, is a multifaceted business, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of improved land or parcels to others...
and managers
Property management
Property management is the operation, control of ususally on behalf of an owner, and oversight of commercial, industrial or residential real estate as used in its most broad terms. Management indicates a need to be cared for, monitored and accountability given for its usable life and condition...
of private student housing in the United States. In 2004, American Campus became the first student housing real estate investment trust
Real estate investment trust
A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...
, (REIT) to become publicly traded. Currently, American Campus manages 145 properties with over 92,000 beds, many in partnership with universities on campus property. Some developments also involve the use of third party nonprofit owner/lessors, which allow tax-exempt bonds to be used to finance the developments.
American Campus is part of a growing trend of independently operated housing serving university students; in particular, cash-strapped public universities have found it financially beneficial to allow outside companies to assume the debt generated by housing projects, freeing up capital for the university to spend on other facilities. For example, American Campus developed and manages four properties for the University of California, Irvine
University of California, Irvine
The University of California, Irvine , founded in 1965, is one of the ten campuses of the University of California, located in Irvine, California, USA...
, that are owned by the nonprofits EAH Housing
EAH Housing
EAH Housing is a nonprofit corporation which develops, manages, and operates high quality affordable housing for low-income families, older adults, and persons with disabilities in California and Hawai'i...
and Collegiate Housing Foundation, respectively. While under state law, any money charged by the University of California directly for housing must be used for housing purposes, the rent paid by EAH and the Collegiate Housing Foundation for use of campus property can be used for any purpose. Further, the university bears none of the debt use to finance the property, yet uses these private owned facilities as part of the housing guarantee it extends to students.
Corporate affairs
The company has its headquarters in Buildings S and T in the Hill Country Galleria shopping development, in Bee CaveBee Cave, Texas
Bee Cave is a city in Travis County, Texas, United States. The population was 656 at the 2000 census; in the 2004 census estimate it was 1,700.-Geography:Bee Cave is located at...
, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
, near Austin
Austin, Texas
Austin is the capital city of the U.S. state of :Texas and the seat of Travis County. Located in Central Texas on the eastern edge of the American Southwest, it is the fourth-largest city in Texas and the 14th most populous city in the United States. It was the third-fastest-growing large city in...
. The ACM headquarters occupies 46000 square foot of space. The company offices were scheduled to open there in December 2010.
Previously American Campus Communities had its headquarters in Las Cimas
Las Cimas
Las Cimas is an office complex in unincorporated Travis County, Texas, between Austin and West Lake Hills. The buildings, southwest of Downtown Austin, is about south of the southwest corner of Las Cimas Parkway and Texas State Highway Loop 360...
, an office complex in unincorporated
Unincorporated area
In law, an unincorporated area is a region of land that is not a part of any municipality.To "incorporate" in this context means to form a municipal corporation, a city, town, or village with its own government. An unincorporated community is usually not subject to or taxed by a municipal government...
Travis County
Travis County, Texas
As of 2009, the U.S. census estimates there were 1,026,158 people, 320,766 households, and 183,798 families residing in the county. The population density was 821 people per square mile . There were 335,881 housing units at an average density of 340 per square mile...
, Texas, near Austin. ACC sublet area that was leased by Dell
Dell
Dell, Inc. is an American multinational information technology corporation based in 1 Dell Way, Round Rock, Texas, United States, that develops, sells and supports computers and related products and services. Bearing the name of its founder, Michael Dell, the company is one of the largest...
USA. ACM moved out of Las Cimas and moved to Bee Caves.