Business & Finance
Business and Finance
Business and Finance
Mon, February 9, 2009 American Campus Communities Announces Promotion of Jamie Wilhelm to Executive Vice President Public-Private Partnerships
AUSTIN, Texas--([ BUSINESS WIRE ])--American Campus Communities Inc. (NYSE:ACC), the largest owner, manager and developer of high-quality student housing properties in the U.S., announced today that Jamie Wilhelm has been promoted to executive vice president - public-private partnerships. Wilhelm joined the company in June 2007 as senior vice president - public-private partnerships to spearhead the company's ACE™ (American Campus Equity) program.
Under the ACE program, the company invests its equity in on-campus student housing via a long-term ground lease with colleges and universities. This pioneering financing solution allows institutions to develop or sell on-campus student housing while preserving their credit capacity to fund core academic infrastructure.
"During these challenging economic times, university endowments and capital funding from state budgets have come under great strain, making our ACE program more attractive than ever. In his new role, Jamie will be responsible for harnessing the talents of our entire organization to ensure we are maximizing this opportunity," said Bill Bayless, American Campus CEO. "ACE has become our top investment priority. With his investment banking experience in higher education, there is no better person to drive this company initiative than Jamie Wilhelm."
For more than a decade, Wilhelm has specialized in higher education and related non-profit finance. From 2000 until Jamie joined American Campus, Wilhelm originated more than $1.8 billion of debt and derivative transactions for more than 80 higher education institutions and non-profits, and served as an advisor for more than $350 million of ACC projects. Wilhelm joined ACC from RBC's public finance department where he was the managing director of the higher education sector. Wilhelm is a graduate of Miami University with a Bachelor of Science degree in Finance.
About American Campus Communities
American Campus Communities Inc. is the largest developer, owner and manager of high-quality student housing communities in the United States. The company is a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management, and operational management of student housing properties. American Campus Communities owns 86 student housing properties containing approximately 52,800 beds. The company also owns a minority interest in 21 joint venture properties containing 12,100 beds. Including its owned, joint venture and third-party managed properties, ACC's total managed portfolio consists of 139 properties with approximately 88,500 beds. Additional information is available at [ www.studenthousing.com ].
Forward-Looking Statements
This news release contains forward-looking statements, which express the current beliefs and expectations of management. Except for historical information, the matters discussed in this news release are forward-looking statements and can be identified by the use of the words "anticipate," "believe," "expect," "intend," "may," "might," "plan," "estimate," "project," "should," "will," "result" and similar expressions. Such statements are based on current expectations and involve a number of known and unknown risks and uncertainties that could cause our future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements.
Our actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors, including risks and uncertainties inherent in the national economy, the real estate industry in general, and in our specific markets; the effect of terrorism or the threat of terrorism; legislative or regulatory changes including changes to laws governing REITs; our dependence on key personnel whose continued service is not guaranteed; availability of qualified acquisition and development targets; availability of capital and financing; rising interest rates; rising insurance rates; impact of ad valorem and income taxation; changes in generally accepted accounting principles; and our continued ability to successfully lease and operate our properties. While we believe these forward-looking statements are based on reasonable assumptions, we can give no assurance that our expectations will be achieved. These forward-looking statements are made as of the date of this news release, and we undertake no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
