American Campus Communities Announces Acquisition of Five Central Florida Student Housing Properties.

AUSTIN, Texas -- American Campus Communities, Inc. (NYSE:ACC), today announced that it has signed an agreement to purchase five student housing properties located in close proximity to the campus's of Florida State University, Florida A&M University, and University of Florida. The portfolio features more than 1,600 total beds for an aggregate purchase price of approximately $53.5 million. The purchase includes the assumption of approximately $35.1 million of existing fixed rate mortgage debt. Subject to the lender's agreement to the assumption of debt, and certain other conditions, closing is anticipated by year end.

About American Campus Communities, Inc.

American Campus Communities, Inc. is the only publicly traded REIT focused solely on student housing in the United States. American Campus Communities is a fully integrated, self-managed and self-administered equity REIT with expertise in the acquisition, design, finance, development, construction management, and leasing and management of student housing properties. The company owns 16 high-quality student housing properties, containing approximately 3,900 apartment units and 11,800 beds. Including its owned properties, the company manages 32 student housing properties, representing 22,300 beds. For more information please go to the company website, at www.studenthousing.com.

Forward-Looking Statements

This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.