American Campus believes that these assets represent some of the best product in their respective markets with a combined average distance to campus of 0.23 miles. The four tier one markets that will be new to American Campus are Baylor University, University of Southern California, Iowa State University, and Purdue University. In addition to implementing the company’s proprietary operating platform across the portfolio, the company anticipates investing $13.7 million in capital improvements to drive future rental rate and revenue growth. The projected year-one cap rate is 5.9 percent nominal (inclusive of upfront capital improvements) and 5.6 percent economic (inclusive of the assumed $200 per bed capital reserves, upfront capital improvements, $2.0 million in loan assumption costs, and $4.3 million in transaction expenses).This release does not constitute an offer of any securities for sale.
American Campus Communities To Acquire $627 Million In High Quality Assets
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