Austin, Texas — As we gear up for the InterFace Student Housing conference this week in Austin, Texas, American Campus Communities (ACC) and EdR have announced interim leasing progress for the fall.
As of April 5, ACC’s same store, wholly owned portfolio is 72.4 percent leased and 79.4 percent applied for. ACC’s new, wholly owned properties are 48.2 percent leased, bringing the total portfolio to 70.3 percent leased.
EdR's same-community leasing portfolio is currently 120 basis points ahead of the prior year with 73.2 percent of the beds preleased for the fall. Based on current leasing velocity and market conditions, EdR predicts the same-community leasing portfolio to open the 2017/2018 lease-term with occupancy flat and an approximate 2.5 percent to 3.5 percent increase in rates.