Multifamily Housing

Investment firm Blackstone makes $13 billion acquisition in student-housing sector

Plans new developments under American Campus Communities flag to meet growing demand.

By Peter Fabris, Contributing Editor | April 26, 2022

Blackstone Inc., a New York-based investment firm, has agreed to buy student-housing owner American Campus Communities Inc.

The deal values the company at about $12.8 billion, indicating the firm expects rents to continue to rise as more college students return to campus. Austin, Texas-based ACC is the largest publicly traded owner and developer of student housing in the U.S.

Blackstone plans to build new properties under ACC’s platform, signalling the firm’s optimism that demand will continue to grow. The ACC deal is Blackstone’s largest student housing investment to date. Last summer, it agreed to buy a majority stake in eight student-housing properties for $784 million.

ACC owns 166 buildings across the U.S., including properties near Arizona State University and the University of California, Berkeley. Roughly one-quarter of its properties are on campus.

More In Category

MFPRO+ New Projects

BIG’s One High Line finally reaches completion in New York City’s West Chelsea neighborhood

One High Line, a luxury residential project spanning a full city block in New York’s West Chelsea neighborhood, reached completion this summer following years of delays related to investor lawsuits.

MFPRO+ New Projects

Luxury waterfront tower in Brooklyn features East River and Manhattan skyline views

Leasing recently began for The Dupont, a 41-story luxury rental property along the Brooklyn, N.Y., waterfront. Located within the 22-acre Greenpoint Landing, where it overlooks the newly constructed Newtown Barge Park, the high-rise features East River and Manhattan skyline views along with 20,000 sf of indoor and outdoor communal space.

Multifamily Housing

A case for mid-rise: How multifamily housing can reshape our cities

Often referred to as “five-over-ones,” the mid-rise apartment type is typically comprised of five stories of apartments on top of a concrete “podium” of ground-floor retail. The main criticism of the “five-over-one” is that they are often too predictable.

Adaptive Reuse

Adaptive reuse project transforms 1840s-era mill building into rental housing

A recently opened multifamily property in Lawrence, Mass., is an adaptive reuse of an 1840s-era mill building. Stone Mill Lofts is one of the first all-electric mixed-income multifamily properties in Massachusetts. The all-electric building meets ambitious modern energy codes and stringent National Park Service historic preservation guidelines.

Currently Reading

Investment firm Blackstone makes $13 billion acquisition in student-housing sector

Tags

Coronavirus | Apr 5, 2020

Coronavirus | Apr 5, 2020

Plumbing | Mar 13, 2020

Multifamily Housing | Mar 5, 2020

Multifamily Housing | Mar 4, 2020

Building Materials | Mar 3, 2020

Multifamily Housing | Feb 26, 2020

Multifamily Housing | Feb 25, 2020

Multifamily Housing | Feb 23, 2020

| Feb 17, 2020

Most Popular Content

Magazine Subscription

Get our Newsletters

Follow BD+C: