coronavirus

ACC Reports Occupancy Rate of 90.3 Percent Across Student Housing Portfolio

by Katie Sloan September 14, 2020

Austin, Texas — American Campus Communities (NYSE: ACC) reported that its portfolio had an occupancy rate of 90.3 percent as of Sept. 11, 2020, after removing approximately 1,300 “no-shows” at open market leasing properties. This percentage also reflects assigned occupancy levels at on-campus communities administered by the company’s university partners. The Austin-based REIT posted a portfolio-wide occupancy rate of 97.4 percent on Sept. 30, 2019, netting a year-over-year decline of 710 basis points. “Throughout June and July, we were encouraged by leasing trends and consumer sentiment reflecting students’ desire to …

September 14, 2020

Features From The Magazine

Student Housing Construction On-Pace Despite Challenges Related to COVID-19

by Katie Sloan August 12, 2020

Construction has been one of the lucky few segments of the economy that has continued humming along during the pandemic. Student housing projects are still going on as planned, as construction has mostly fallen into the “essential” category of business during the shutdown. While builders report there have been few supply-chain issues, there were some initial slowdowns related to delivery. “The only significant supply side issue we have had was on a project that we have under construction serving UMass Amherst,” says Brent Little, president of Fountain Residential Partners. The …

August 12, 2020

News

American Campus Communities, RB Collaborate to Create Comprehensive Disinfection and Hygiene Protocols for Student Housing

by Katie Sloan August 5, 2020

Austin, Texas — In response to the COVID-19 pandemic, American Campus Communities announced its collaboration with RB — the makers of Lysol and a global leader in hygiene products — to set a new standard and formalized approach for cleanliness and disinfection at its portfolio of student housing communities. Student Housing Business recently spoke with Executive Vice President and Chief Operating Officer, Jennifer Beese, to learn more about the initiative and the company’s plans for the upcoming school year. Student Housing Business: Tell me a bit about the, ‘Be safe. …

August 5, 2020

Features From The Magazine

Connectivity On A Post-COVID-19 Campus

by Katie Sloan July 29, 2020

It remains unclear exactly which trends will outlast the COVID-19 pandemic, but student housing owners expect that the rise of distance learning will have lasting effects beyond just the 2020 spring and summer semesters. In response to the outbreak in early to mid-March, universities were left with little choice but to close their campuses and conduct classes online, requiring students to attend classes via two-way video streaming services. This teaching method is expected to continue in earnest for the foreseeable future, even once colleges allow in-person classes to resume. “In …

July 29, 2020

Features Industry Voices

Larimer and Buell: Student Housing Outpaces Multifamily in the Face of COVID-19

by Katie Sloan July 29, 2020

Throughout the COVID-19 pandemic, student housing has performed remarkably well compared to other property types, showing particularly high occupancy rates and consistent rent collections. In April, May, June and July, monthly collections exceeded 95 percent of scheduled rents across the country. When comparing Berkadia’s monthly Student Housing Market Trends Report to the National Multifamily Housing Council’s (NMHC) Rent Payment Tracker, student housing collections exceeded conventional multifamily collections every single month. From a macro level, we understand why most assets have performed at such high levels during this unprecedented time. For …

July 29, 2020

News

New York Times: More Than 6,300 Coronavirus Cases Linked to U.S. Colleges

by Katie Sloan July 29, 2020

New York City — The New York Times has published a survey that asserts at least 6,300 cases of coronavirus (COVID-19) have been tied to 270 colleges over the course of the pandemic. The survey included every public four-year college in the country, as well as every private institution that competes in Division I sports or is a member of an elite group of research universities. The survey and accompanying write up shed light on what college life may look like this fall. Charted outbreaks include an emergence of COVID-19 cases at the …

July 29, 2020

Features News

Move-In is a Month Away — Are Your Student Housing Properties and Portfolios Ready?

by Katie Sloan July 22, 2020

While a great deal of uncertainty remains surrounding the fall semester in the face of the COVID-19 pandemic, in one fact we can be certain — the summer is almost over. With students set to move back to campus in the next month, universities, owners and operators of student housing properties are hard at work planning for their safe return. Student Housing Business hosted a webinar last week — sponsored by Leap — to check in with four leading operators and property managers to see what they are planning and …

July 22, 2020

Company News News Texas

American Campus Communities Releases Second Quarter 2020 Financial Results

by Katie Sloan July 21, 2020

Austin, Texas — American Campus Communities has announced financial results for the second quarter of 2020. Revenue for the second quarter totaled $185.5 million, versus $217.4 million in the second quarter of 2019. The company reported a net loss of $13.3 million or $0.10 per fully diluted share, versus a net income of $10.4 million or $0.07 per fully diluted share in the second quarter of 2019. Same store net operating income decreased by 20.9 percent versus the second quarter of 2019. Revenues decreased 14.2 percent during this time and …

July 21, 2020

Company News Illinois News

The Scion Group Launches Strategic Initiative to Boost Collaboration with University Housing Departments

by Katie Sloan July 21, 2020

Chicago — The Scion Group has launched Scion Campus Connections, a new strategic initiative aimed at improving collaboration between university and college housing departments and Scion’s off-campus housing teams. “The COVID-19 pandemic has changed the way we think about student housing density, dramatically illustrating the fact that it takes both on-campus and off-campus housing sources to meet the needs of the students that we collectively support,” says Rob Bronstein, president and co-founder of The Scion Group. “Scion Campus Connections is a unique collaboration initiative that will promote open communication, robust …

July 21, 2020

Features Industry Voices

Brian Nelson: No Slowdown in Student Housing

by Katie Sloan July 15, 2020

The COVID-19 tsunami devastated industries all over the country and around the world, grinding many businesses to a halt. Before the pandemic, the commercial real estate industry was riding high with a 10-year run dating back to the Great Recession with few signs of slowing in a roaring economy. If one thing was made clear during the pandemic, it was that life in the U.S. will never be the same. New phrases came to light that were never heard before but are now household terms — social distancing, shelter-in-place and flattening …

July 15, 2020

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