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AUSTIN-Less than 48 hours after citing acquisition opportunities during its Q3 earnings conference call, locally based American Campus Communities Inc. has completed its due diligence on a 12,049-bed student housing portfolio. ACC will pay $862.8 million for the portfolio, which is currently owned by Kayne Anderson Capital Advisors LP.

The portfolio consists of 19 student housing properties, including a 366-bed project currently under development. The sale is anticipated to close during Q4 of this year.

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