American Campus Communities, Inc.

On August 9, 2022, American Campus Communities, Inc. (ACC or the Company) completed its previously announced sale to Blackstone Core+ perpetual capital vehicles, primarily comprised of Blackstone Real Estate Income Trust, Inc. (BREIT), alongside Blackstone Property Partners (BPP). BREIT and BPP acquired all outstanding shares of common stock of ACC for $65.47 per share in an all-cash transaction representing approximately $12.8 billion in enterprise value. KeyBanc Capital Markets served as Sell-Side Advisor on the transaction.

American Campus Communities, Inc. is the largest owner, manager and developer 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. Including its owned and third-party managed properties, ACC's total managed portfolio consisted of 204 properties with approximately 143,100 beds, located in 71 leading university markets including Arizona State University, The University of Texas at Austin, Florida State University, and The University of California – Berkeley.

Blackstone is a global leader in real estate investing. Blackstone’s real estate business was founded in 1991 and has US $320 billion of investor capital under management. Blackstone is the largest owner of commercial real estate globally, owning and operating assets across every major geography and sector, including logistics, residential, office, hospitality and retail. Their opportunistic funds seek to acquire undermanaged, well-located assets across the world.