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Blackstone funds to acquire American Campus Communities following stockholder approval

American Campus Communities

Austin, Texas-based American Campus Communities, the owner, manager and developer of high-quality student housing properties in the US, has announced that its stockholders have approved the acquisition of the company by Blackstone Core+ perpetual capital vehicles, primarily comprising Blackstone Real Estate Income Trust, alongside Blackstone Property Partners LP.

Last month independent proxy advisory firm, Institutional Shareholder Services recommended that stockholders approve the deal.

The $13 billion transaction is expected to close early next week.

American Campus Communities owns 166 student housing properties containing approximately 111,900 beds. Including its owned and third-party managed properties, the company’s total managed portfolio consists of 204 properties with approximately 143,100 beds

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