American Campus Communities Sells 19 Property Portfolio for $508 Million


Continuing to divest non-core assets, American Campus Communities, Inc. (NYSE: ACC) this week sold a portfolio of 19 student housing properties in nine states totaling 12,083 beds to Los Angeles-based Saban Real Estate for $508 million. The portfolio includes student housing properties in Michigan, Louisiana, Indiana, Missouri, Alabama, North Carolina, South Carolina, Florida and Pennsylvania. As part of the transaction, ACC prepaid $197.3 million...

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