Follow-On Offering

Real Estate
Follow-On Offering

Summary

Baird served as a co-manager in this offering.

About

American Campus Communities, Inc. (NYSE: ACC) (“American Campus” or the “Company”) recently completed a follow-on offering of 17,250,000 shares of its common stock at a price of $44.25 per share, generating gross proceeds of approximately $763.3 million. The Company intends to use the net proceeds from this offering to fund the cash consideration payable in the Campus Acquisitions transaction. Any remaining net proceeds will be used to repay the Company’s current debt, including 100% of the outstanding balance on the Company’s revolving credit facility, to fund the Company’s current development pipeline and potential acquisitions of student housing properties and for general corporate purposes.

American Campus is one of the largest owners, managers and developers of high quality student housing properties in the United States in terms of beds owned and under management. The Company is a fully integrated, self-managed and self-administered equity real estate investment trust, or REIT, with expertise in the acquisition, design, financing, development, construction management, leasing and management of student housing properties. The Company’s property portfolio contains 120 properties with approximately 74,900 beds in approximately 23,800 apartment units. As of March 31, 2012, American Campus’ total owned and third-party managed portfolio consisted of 147 properties with approximately 97,800 beds in approximately 32,900 units. The Company seeks to own high quality, well designed and well located student housing properties.

For additional information about this transaction, please contact:

Steve Goldberg (703) 918-7808
Justin Glasgow (703) 918-7813
Peter Kies (414) 765-7262
Real Estate
Follow-On Offering
Date
July 2012
Company
American Campus Communities, Inc.
Transaction
M&A
Sectors
Real Estate
Target Location
North America

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