This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

American Campus Commences Construction On The Suites Phase II At Northern Arizona University

American Campus Communities, Inc. (NYSE:ACC), one of the largest owners, managers and developers of high-quality student housing properties in the U.S., announced that the company has commenced construction on a 328-bed residence hall community at Northern Arizona University (NAU) in Flagstaff, AZ. The $19.3 million on-campus expansion, undertaken under the company’s American Campus Equity (ACE) ® program, is an extension of The Suites, a 550-bed community centrally located on campus, that was fully leased by April in its initial occupancy in 2012. The community is anticipated to open for occupancy in August 2014.

"We are pleased to partner with Northern Arizona University once again as we expand The Suites community to provide much needed housing for its students,” said Jamie Wilhelm, American Campus executive vice president of public-private partnerships. “Our ACE investments at NAU represent excellent examples of how private equity investment in on-campus housing can assist universities in meeting growing demand in an expeditious manner without any negative impacts to their balance sheet.”

Northern Arizona State is the third-largest university in the state of Arizona and is home to 18,990 students on the main campus. The University has experienced a 24 percent growth in total enrollment over the past five years, and plans to continue growth in the years to come, which supports the burgeoning demand for additional on-campus housing.

American Campus currently owns and operates two on-campus assets at Northern Arizona State containing 1,126 beds, The Suites and Hilltop Townhomes, both of which opened fully occupied in fall 2012. The communities are fully leased for fall 2013.

The second phase of The Suites is a modern residence hall offering suite-style, fully-furnished units that will include cable television, internet, and all utilities. Within each of the two four-story buildings, every two residential floors share a two-story neighborhood amenity space that provides residents with day-to-day facilities including laundry, kitchenette, study rooms, and social lounges for residents to congregate. Phase II will also share the 12,428 square-foot community center built during Phase I.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,041.54 -190.48 -1.04%
S&P 500 2,104.20 -21.86 -1.03%
NASDAQ 5,032.7510 -56.6110 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs