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Company Description

Contact Info

12700 Hill Country Boulevard

Suite T-200

Austin, TX 78738

United States

Phone: 512-732-1000

Fax: 512-732-2450

American Campus Communities, Inc., a real estate investment trust, engages in the acquisition, design, financing, development, construction management, leasing, and management of student housing properties in the United States. The company, through its controlling interest in American Campus Communities Operating Partnership LP (the Operating Partnership) and American Campus Communities Services, Inc. (its taxable REIT subsidiary or TRS), engages in the ownership, management, and development of student housing properties in the United States in terms of beds owned and under management. As of December 31, 2006, the company's property portfolio contained 38 student housing properties with approximately 23,700 beds and approximately 7,700 apartment units, consisting of 34 owned off-campus properties that are in close proximity to colleges and universities and four on-campus participating properties operated under ground/facility leases with the related university systems. Through the TRS, the company also provides construction management and development services for student housing properties owned by colleges and universities, charitable foundations, and others. As of December 31, 2006, the company provided third-party management and leasing services for 15 student housing properties (nine of which the company served as the third-party developer and construction manager) that represented approximately 9,300 beds in approximately 3,200 units. Third-party management and leasing services are provided pursuant to multi-year management contracts. As of December 31, 2006, the company's total owned and managed portfolio included 53 properties with approximately 33,000 beds in approximately 10,900 units. Segments The company operates its business in four segments: Owned Off-Campus Properties, On-Campus Participating Properties, Development Services and Property Management Services. Owned Off-Campus Properties As of December 31, 2006, Owned Off-Campus Properties segment consisted of 34 owned off-campus properties with in close proximity to 34 colleges and universities in 12 states. Off-campus properties are located in close proximity to the school campus, with pedestrian, bicycle, or University shuttle access. On-Campus Participating Properties On-Campus Participating Properties segment includes on-campus properties owned by its TRS that are operated under ground/facility leases with the related university systems. The company participates with two university systems in the operations of four on-campus participating properties under long-term ground/facility leases. The subject universities hold title to both the land and improvements on these properties. Third-Party Services The company’s third-party services consist of development services and management services and are typically provided to university and college clients. The majority of its third-party management services are provided to clients for whom the company also provides development services. Development Services The company’s Development Services segment consists of development and construction management services that the company provides through its TRS for third-party owners. These services range from short-term consulting projects to long-term development and construction projects. The company provides its services to colleges and universities. The company’s development services include pre-development, design and financial structuring services. The company’s pre-development services include feasibility studies for third-party owners and design services. Feasibility studies include an initial feasibility analysis, review of conceptual design, and assistance with master planning. The company’s design services include coordination with the architect and other members of the design team, review of construction plans and assistance with project due diligence and project budgets. Construction management services consist of coordinating and supervising the construction, equipping and furnishing process on behalf of the project owner, including site visits, hiring of a general contractor and project professionals, and coordinatio

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