National Commercial Real Estate News From CoStar Group
Student Housing REIT To Buy 19 Complexes for $863M
American Campus Communities Inc. (NYSE:ACC), a student lodging REIT, agreed to purchase 19 student housing properties with 12,049 beds from affiliates of Kayne Anderson Capital Advisors LP for $862.8 million. The trade will include 366 beds at an additional phase currently under construction at an existing community.
ACC will assume nearly $396.2 million of outstanding mortgage debt and $466.6 million in available cash. The deal is scheduled to...