American Campus (ACC) to Acquire Large Student Housing Portfolio in $862.8M Deal
- Stocks Tank as QE Nears End, Major Fund Winds Down, and Ebola Fears
- Market Wrap: Private Employment Expands in Sept.; BofA CEO Becomes Chairman; U.S. Secret Service Director Resigns
- Bank of America (BAC) CEO Moynihan Elected as Chairman
- After-Hours Stock Movers 10/01: (RLD) (DRL) (DTV) Higher; (WILN) (NLNK) (PLTA) Lower (more...)
- Investors Yank $23.5 Billion From PIMCO in 3 Days Amid Gross Exit
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.
You May Also Be Interested In
- UPDATE: Yahoo! (YHOO) Active on Chatter
- ARI Network Services, Inc. (ARIS) Acquires TCS Technologies
- Amica Mature Lifestyles Announces 2014 Annual General Meeting Voting Results
Create E-mail Alert Related CategoriesMergers and Acquisitions
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!