N@N

American Campus Communities, Inc. Announces Launch of Common Stock Offering

^{Published on 2010-08-16 04:45:17 - Market Wire}
 

AUSTIN, Texas--([ BUSINESS WIRE ])--American Campus Communities, Inc. (NYSE:ACC), one of the nation's largest developers, owners and managers of high-quality student housing properties, today announced that it plans to sell 10,000,000 shares of its common stock in an underwritten public offering. The company also plans to grant the underwriters an option to purchase up to an additional 1,500,000 shares of common stock to cover overallotments, if any.

The Company intends to use the net proceeds from the offering to fund the previously announced acquisition of the 90% interest not currently owned by it in 14 of the properties in an existing joint venture portfolio, to fund its development pipeline and other opportunistic acquisitions, to repay debt, including the outstanding balance of its revolving credit facility, and for general corporate purposes.

BofA Merrill Lynch, KeyBanc Capital Markets, Deutsche Bank Securities and J.P. Morgan will serve as joint book-running managers for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. A copy of the prospectus relating to the offering may be obtained by contacting BofA Merrill Lynch, 4 World Financial Center, New York, New York 10080, Attn: Prospectus Department or email [ dg.prospectus_requests@baml.com ]; KeyBanc Capital Markets Inc., Attention: Prospectus Delivery Department, 127 Public Square, 6^th Floor, Cleveland, Ohio 44114, telephone: (216) 689-0421; Deutsche Bank Securities, Attention: Prospectus Department, 100 Plaza One, Jersey City, New Jersey 07311, telephone: (800) 503-4611 or email at [ prospectus.cpdg@db.com ]; or J.P. Morgan Securities Inc., Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (866) 803-9204.

About American Campus Communities

American Campus Communities, Inc. is one of the largest developers, owners and managers 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 87 student housing properties containing approximately 53,800 beds. The company also owns a minority interest in 18 joint venture properties containing approximately 9,800 beds. Including its owned, joint venture and third-party managed properties, ACC's total managed portfolio consists of 139 properties with approximately 88,600 beds.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which American Campus operates, management's beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.