The CallowayHouse is one of America Campus Communities' assets located inAustin, TX.
AUSTIN, TX—The nation's largest developer, owner and manager ofstudent housing apartment communities, American Campus CommunitiesInc., announced financial results for the quarter ending September30, 2019. The company reports increased quarterly funds fromoperations modified/FFOM per share by 5% and announces three newon-campus development projects.
Revenue for the 2019 third quarter totaled $227.7 million versus$213.5 million in the third quarter 2018, and operating income forthe quarter totaled $27.3 million versus $21.5 million in the prioryear third quarter. The increase in revenue and operating incomewas primarily due to increased occupancy and rental rates, andgrowth associated with recently completed development and presaledevelopment projects.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
