American Campus Communities adds Texas and Maryland Acquisitions to Portfol

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Last Updated ( 01/24/2012 16:23 )

DATE_FORMAT_LC2=Tuesday,January 24 2012 12:00:00 AM

American Campus Communities adds Texas and Maryland Acquisitions to Portfolio

The Varsity opened in 2011 with 91 percent occupancy. It includes a fitness center, game room, parking and outdoor courtyard.Austin, Texas — In addition to 26 West Apartments in the West Campus neighborhood near UT-Austin, American Campus has also acquired a 79.5 percent interest in the existing entity that owns The Varsity, a 901-bed community near the University of Maryland in College Park.

26 West was acquired for $86.2 million, and The Varsity for $121.5 million. "These two acquisitions, along with our 11 owned development properties being delivered in fall 2012 represent $593 million in premier core assets," said American Campus CEO Bill Bayless.

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