Student Housing Co. Pays $183M For Texas, Md. Properties

Law360, New York (January 19, 2012, 7:25 PM EST) -- Texas student housing property owner American Campus Communities Inc. has acquired an Austin, Texas, apartment complex and a controlling interest in a Maryland campus property for $182.8 million, American Campus announced Wednesday.

The company said it bought the 26 West  property in Austin on Dec. 7 for $86.2 million. The 1,026-bed complex is adjacent to the University of Texas at Austin and is currently 98 percent occupied.

On Dec. 28, American Campus completed the acquisition of a 79.5 percent interest in The Varsity, a College Park,...
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