American Campus (ACC) to Acquire Large Student Housing Portfolio in $862.8M Deal
- Wall Street falls as energy lags; shares post gains on week
- Rumored Forever, Twitter (TWTR) May Have Finally Put the 'For Sale' Sign Up
- Facebook (FB) Shares Under Pressure on Reports Video Ad Metrics Were Artificially Inflated
American Campus Communities, Inc. (NYSE: ACC) announced the November 30, 2012 completion of the previously announced acquisition of 19 select student housing properties with 12,049 beds, including 366 beds at an additional phase currently under development at an existing property, from affiliates of Kayne Anderson Capital Advisors, L.P. (NYSE: KYN). The aggregate purchase price of $862.8 million includes the assumption of approximately $395.8 million of outstanding mortgage debt. The acquisition of the phase under development, which is expected to close during the third quarter of 2013, is subject to certain closing conditions, including satisfactory completion of such phase.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CapitalOne Starts American Campus Communities (ACC) at Equal-weight
- Imperva (IMPV) said to draw takeover interest from Cisco Systems (CSCO), IBM (IBM) - Bloomberg
- Twitter initiates talks with tech companies over sale: source