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American Campus Communities, Inc. Announces Closing Of Common Stock Offering

American Campus Communities, Inc. (NYSE:ACC), the largest owner, manager and developer of high-quality student housing properties in the U.S., today announced the closing of a public offering of 17,250,000 shares of its common stock at a price of $44.25 per share, which includes 2,250,000 shares issued as a result of the underwriters' exercise of their option to purchase additional shares in full at the closing. The company received approximately $731.9 million in net proceeds from the offering, after deducting the underwriting discount and estimated expenses of the offering.

BofA Merrill Lynch, KeyBanc Capital Markets, Deutsche Bank Securities and J.P. Morgan served as joint book-running managers for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A copy of the prospectus relating to the offering may be obtained by contacting BofA Merrill Lynch, 222 Broadway, 7 th Floor, New York, New York 10038, Attn: Prospectus Department or email dg.prospectus_requests@baml.com; KeyBanc Capital Markets Inc., Attention: Prospectus Delivery Department, 127 Public Square, 4 th Floor, Cleveland, Ohio 44114, telephone: (216) 689-0421; Deutsche Bank Securities, Attention: Prospectus Department, 60 Wall Street, New York, New York 10005-2836, telephone: (800) 503-4611 or email at prospectus.cpdg@db.com; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (866) 803-9204.

About American Campus Communities

American Campus Communities, Inc. 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 124 student housing properties containing approximately 76,100 beds. Including its owned and third-party managed properties, ACC's total managed portfolio consists of 153 properties with approximately 99,900 beds. Visit americancampus.com or studenthousing.com.

Forward-Looking Statements

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 Communities 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.

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