Austin, Texas — As we gear up for the InterFace Student Housing conference this week in Austin, Texas, American Campus Communities (ACC), EdR and Campus Advantage have announced interim leasing progress for the fall.
As of April 8, ACC’s same store, wholly owned portfolio was 79.3 percent applied for and 73.6 percent leased compared to 78.5 percent applied for and 71.9 percent leased for the prior year. ACC’s new, wholly owned properties are 58.3 percent leased, bringing the total portfolio to 73.0 percent leased.
EdR’s same-community portfolio is currently 190 basis points ahead of the prior year with 73.6 percent of beds preleased for the fall. Based on current leasing velocity and market conditions, the company expects fall occupancy for the same-community portfolio to be consistent with the prior year, and rates to be up approximately 3 percent.
Campus Advantage properties are already 2,301 leases ahead of last year, and are seeing a 9.3 percent increase in walk-in traffic thanks in part to two award-winning marketing campaigns conducted by the Catalyst marketing firm. Campus Advantage’s marketing efforts have also helped drive renewal rates up 7 percent over last year.