Footprint expands with The Block in Austin

AUSTIN – American Campus Communities Inc. has acquired The Block, a student housing community in the West Campus neighborhood near the University of Texas campus. The six-community off-campus property consists of 1,555 beds and is currently 97 percent occupied.

With the acquisition of The Block, American Campus will own or have under construction approximately 4,270 student housing beds in the West Campus submarket.

In mid-September, the company will close on the Campus Acquisition transaction that includes The Castilian, The Texan, and The Vintage.

The Callaway House Austin is currently underway and will open fall 2013. Also, the company recently acquired 26West. With the acquisitions and construction, American Campus has become the official student housing sponsor of UT Athletics.

Source: 4-Traders