American Campus Communities Announces Acquisition of Student Housing Property in Denton, Texas.AUSTIN Austin. 1 City (1990 pop. 21,907), seat of Mower co., SE Minn., on the Cedar River, near the Iowa line; inc. 1868. The commercial and industrial center of a rich farm region, it is noted as home to the Hormel meatpacking company, whose Spam Town museum , Texas -- American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Campus Communities Inc. (NYSE NYSE See: New York Stock Exchange :ACC See adaptive cruise control. ) today announced that it has signed an agreement to purchase a student housing property located in close proximity to the campus of the University of North Texas. The property features 418 total beds for an aggregate purchase price of approximately $19.2 million. The purchase includes the assumption of approximately $11.9 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 in the first quarter. About American Campus Communities Inc. American Campus Communities Inc. is one of the largest publicly traded REITs focused solely on student housing in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . American Campus Communities is a fully integrated, self-managed and self-administered equity REIT Equity REIT A Real Estate Investment Trust that assumes ownership status in the property it invests in enabling investors of the REIT to earn dividends on rental income from the property and appreciation in property resale. Antithesis of a Mortgage REIT. with expertise in the acquisition, design, finance, development, construction management, and leasing and management of student housing properties. The company owns and manages 22 high-quality student housing properties, containing approximately 14,100 beds. Including its owned properties, the company manages 41 student housing properties, representing 25,400 beds. For more information please go to the company website, at www.americancampuscommunities.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 development or otherwise. |
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