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American Campus Communities Inc, et al. – ‘10-Q’ for 9/30/17 – ‘EX-101.LAB’

On:  Friday, 11/3/17, at 11:53am ET   ·   For:  9/30/17   ·   Accession #:  1283630-17-114   ·   File #s:  1-32265, 333-181102-01

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  As Of               Filer                 Filing    For·On·As Docs:Size

11/03/17  American Campus Communities Inc   10-Q        9/30/17   83:10M
          American Campus Communities Operating Partnership LP

Quarterly Report   —   Form 10-Q   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML    953K 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     32K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     32K 
 4: EX-31.3     Certification -- §302 - SOA'02                      HTML     32K 
 5: EX-31.4     Certification -- §302 - SOA'02                      HTML     32K 
 6: EX-32.1     Certification -- §906 - SOA'02                      HTML     27K 
 7: EX-32.2     Certification -- §906 - SOA'02                      HTML     27K 
 8: EX-32.3     Certification -- §906 - SOA'02                      HTML     27K 
 9: EX-32.4     Certification -- §906 - SOA'02                      HTML     27K 
16: R1          Document and Entity Information                     HTML     49K 
17: R2          Consolidated Balance Sheets                         HTML    137K 
18: R3          Consolidated Balance Sheets (Parentheticals)        HTML     41K 
19: R4          Consolidated Statements of Comprehensive Income     HTML    160K 
20: R5          Consolidated Statement of Changes in Equity/        HTML    104K 
                Capital                                                          
21: R6          Consolidated Statements of Cash Flows               HTML    192K 
22: R7          Organization and Description of Business            HTML     35K 
23: R8          Summary of Significant Accounting Policies          HTML    176K 
24: R9          Acquisitions and Joint Venture Investments          HTML     85K 
25: R10         Property Dispositions                               HTML     34K 
26: R11         Investments in Wholly-Owned Properties              HTML     50K 
27: R12         On-Campus Participating Properties                  HTML     58K 
28: R13         Debt                                                HTML    102K 
29: R14         Stockholders' Equity / Partners' Capital            HTML     50K 
30: R15         Noncontrolling Interests                            HTML     41K 
31: R16         Incentive Award Plan                                HTML     44K 
32: R17         Derivative Instruments and Hedging Activities       HTML     59K 
33: R18         Fair Value Disclosures                              HTML    100K 
34: R19         Commitments and Contingencies                       HTML     40K 
35: R20         Segments                                            HTML    204K 
36: R21         Subsequent Events                                   HTML     32K 
37: R22         Summary of Significant Accounting Policies          HTML     81K 
                (Policies)                                                       
38: R23         Summary of Significant Accounting Policies          HTML    148K 
                (Tables)                                                         
39: R24         Acquisitions and Joint Venture Investments          HTML     72K 
                (Tables)                                                         
40: R25         Property Dispositions (Tables)                      HTML     31K 
41: R26         Investments in Wholly-Owned Properties (Tables)     HTML     48K 
42: R27         On-Campus Participating Properties (Tables)         HTML     56K 
43: R28         Debt (Tables)                                       HTML     85K 
44: R29         Stockholders' Equity / Partners' Capital (Tables)   HTML     44K 
45: R30         Noncontrolling Interests (Tables)                   HTML     32K 
46: R31         Incentive Award Plan (Tables)                       HTML     37K 
47: R32         Derivative Instruments and Hedging Activities       HTML     58K 
                (Tables)                                                         
48: R33         Fair Value Disclosures (Tables)                     HTML     90K 
49: R34         Segments (Tables)                                   HTML    204K 
50: R35         Organization and Description of Business -          HTML     65K 
                Narrative (Details)                                              
51: R36         Summary of Significant Accounting Policies -        HTML     38K 
                Estimated Useful Lives of Assets (Details)                       
52: R37         Summary of Significant Accounting Policies -        HTML     40K 
                Additional Information (Detail Textuals)                         
53: R38         Summary of Significant Accounting Policies -        HTML     36K 
                Potentially Dilutive Securities Not Included in                  
                Calculating Diluted Earnings Per Share (Details)                 
54: R39         Summary of Significant Accounting Policies -        HTML     59K 
                Summary of Elements Used in Calculating Basic and                
                Diluted Earnings per Share (Details)                             
55: R40         Summary of Significant Accounting Policies -        HTML     61K 
                Summary of Elements Used in Calculating Basic and                
                Diluted Earnings per Unit (Details)                              
56: R41         Acquisitions and Joint Venture Investments -        HTML    107K 
                Narrative (Details)                                              
57: R42         Acquisitions and Joint Venture Investments -        HTML     60K 
                Schedule of Business Aquisitions by Acquisition                  
                (Details)                                                        
58: R43         Property Dispositions - Additional Information      HTML     43K 
                (Detail Textuals)                                                
59: R44         Property Dispositions - Summary of Properties       HTML     31K 
                Classified as Held for Sale (Details)                            
60: R45         Investments in Wholly-Owned Properties - Summary    HTML     43K 
                (Details)                                                        
61: R46         Investments in Wholly-Owned Properties - Summary    HTML     37K 
                (Detail Textuals)                                                
62: R47         On-Campus Participating Properties (Details)        HTML     64K 
63: R48         Debt - Summary of Outstanding Consolidated          HTML     69K 
                Indebtedness, Including Unamortized Debt Premiums                
                and Discounts (Details)                                          
64: R49         Debt - Additional Information (Details)             HTML     92K 
65: R50         Debt - Summary of Senior Unsecured Notes (Details)  HTML     49K 
66: R51         Stockholders' Equity / Partners' Capital -          HTML     53K 
                Narrative (Details)                                              
67: R52         Stockholders' Equity / Partners' Capital - Summary  HTML     36K 
                of Equity Program Activity (Details)                             
68: R53         Noncontrolling Interests - Additional Information   HTML     53K 
                (Detail Textuals)                                                
69: R54         Noncontrolling Interests - Summarized Activity of   HTML     48K 
                Redeemable Limited Partners (Details)                            
70: R55         Incentive Award Plan - Additional Information       HTML     46K 
                (Detail Textuals)                                                
71: R56         Incentive Award Plan - Summary of Restricted Stock  HTML     35K 
                Unit (Details)                                                   
72: R57         Incentive Award Plan - Summary of Restricted Stock  HTML     36K 
                Awards (Details)                                                 
73: R58         Derivative Instruments and Hedging Activities -     HTML     46K 
                Summary of Outstanding Interest Rate Swap                        
                Contracts (Details)                                              
74: R59         Derivative Instruments and Hedging Activities -     HTML     32K 
                Fair Value of Derivative Financial Instruments and               
                Classification on Consolidated Balance Sheet                     
                (Details)                                                        
75: R60         Fair Value Disclosures - Financial Instruments      HTML     43K 
                Measured at Fair Value (Details)                                 
76: R61         Fair Value Disclosures - Estimated Fair Value and   HTML     39K 
                Related Carrying Amounts of Mortgage Loans and                   
                Bonds Payable (Details)                                          
77: R62         Commitments and Contingencies - Narrative           HTML     82K 
                (Details)                                                        
78: R63         Segments - Additional Information (Details)         HTML     26K 
79: R64         Segments - Summary (Details)                        HTML    103K 
80: R65         Subsequent Events - Narrative (Details)             HTML     69K 
82: XML         IDEA XML File -- Filing Summary                      XML    145K 
81: EXCEL       IDEA Workbook of Financial Reports                  XLSX    101K 
10: EX-101.INS  XBRL Instance -- acc-20170930                        XML   3.03M 
12: EX-101.CAL  XBRL Calculations -- acc-20170930_cal                XML    233K 
13: EX-101.DEF  XBRL Definitions -- acc-20170930_def                 XML   1.15M 
14: EX-101.LAB  XBRL Labels -- acc-20170930_lab                      XML   1.78M 
15: EX-101.PRE  XBRL Presentations -- acc-20170930_pre               XML   1.23M 
11: EX-101.SCH  XBRL Schema -- acc-20170930                          XSD    199K 
83: ZIP         XBRL Zipped Folder -- 0001283630-17-000114-xbrl      Zip    305K

‘EX-101.LAB’   —   XBRL Labels — acc-20170930_lab

This Exhibit is an XBRL XML File.

                                                                                                                                                                                
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<link:label id="lab_us-gaap_BusinessCombinationDisclosureTextBlock_DBFC50F64A05396622815EC1711469E8_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationDisclosureTextBlock_DBFC50F64A05396622815EC1711469E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Combination Disclosure [Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessCombinationDisclosureTextBlock" xlink:label="loc_us-gaap_BusinessCombinationDisclosureTextBlock_DBFC50F64A05396622815EC1711469E8" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_2F5C88368C1FBF1789B85EC17114EE7E_label_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_2F5C88368C1FBF1789B85EC17114EE7E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Business Acquisitions, by Acquisition [Table Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_2F5C88368C1FBF1789B85EC17114EE7E" xlink:type="locator"/>
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<link:label id="lab_acc_DocumentAndEntityInformationAbstract_764EC4E5BE101555C05E84B8EF2536AC_label_en-US" xlink:label="lab_acc_DocumentAndEntityInformationAbstract_902D2BD2D9505905B416B7AD78B48257" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Document and Entity Information [Abstract] </link:label>
<link:label id="lab_acc_DocumentAndEntityInformationAbstract_764EC4E5BE101555C05E84B8EF2536AC_documentation_en-US" xlink:label="lab_acc_DocumentAndEntityInformationAbstract_902D2BD2D9505905B416B7AD78B48257" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> -- None. No documentation exists for this element. -- </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_DocumentAndEntityInformationAbstract" xlink:label="loc_acc_DocumentAndEntityInformationAbstract_902D2BD2D9505905B416B7AD78B48257" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_DocumentAndEntityInformationAbstract_902D2BD2D9505905B416B7AD78B48257" xlink:to="lab_acc_DocumentAndEntityInformationAbstract_902D2BD2D9505905B416B7AD78B48257" xlink:type="arc"/>
<link:label id="lab_dei_EntitiesTable_D5A2CC8017013EE11BCF84B8EF262DEA_terseLabel_en-US" xlink:label="lab_dei_EntitiesTable_0D4E52D494675CBA89EA6B29313C8A5D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Entities [Table] </link:label>
<link:label id="lab_dei_EntitiesTable_D5A2CC8017013EE11BCF84B8EF262DEA_label_en-US" xlink:label="lab_dei_EntitiesTable_0D4E52D494675CBA89EA6B29313C8A5D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Entities [Table] </link:label>
<link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntitiesTable" xlink:label="loc_dei_EntitiesTable_0D4E52D494675CBA89EA6B29313C8A5D" xlink:type="locator"/>
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<link:label id="lab_dei_LegalEntityAxis_FCDBEE038268BB1F320584B8EF26A133_terseLabel_en-US" xlink:label="lab_dei_LegalEntityAxis_CFB9CDBF9F3A5A7BA8840FA85441F18D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Legal Entity [Axis] </link:label>
<link:label id="lab_dei_LegalEntityAxis_FCDBEE038268BB1F320584B8EF26A133_label_en-US" xlink:label="lab_dei_LegalEntityAxis_CFB9CDBF9F3A5A7BA8840FA85441F18D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Legal Entity [Axis] </link:label>
<link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="loc_dei_LegalEntityAxis_CFB9CDBF9F3A5A7BA8840FA85441F18D" xlink:type="locator"/>
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<link:label id="lab_dei_EntityDomain_D896137D0470FD0491BD84B8EF26C24A_terseLabel_en-US" xlink:label="lab_dei_EntityDomain_F0DDC461828F566FB90290A10B5C0285" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Entity [Domain] </link:label>
<link:label id="lab_dei_EntityDomain_D896137D0470FD0491BD84B8EF26C24A_label_en-US" xlink:label="lab_dei_EntityDomain_F0DDC461828F566FB90290A10B5C0285" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Entity [Domain] </link:label>
<link:loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="loc_dei_EntityDomain_F0DDC461828F566FB90290A10B5C0285" xlink:type="locator"/>
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<link:label id="lab_acc_AmericanCampusCommunitiesOperatingPartnershipLimitedPartnershipMember_257BF31C6B7C398B77A984B8EF2609C9_terseLabel_en-US" xlink:label="lab_acc_AmericanCampusCommunitiesOperatingPartnershipLimitedPartnershipMember_70DC15EF061B5F8E9BF5AA26264D29EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. </link:label>
<link:label id="lab_acc_AmericanCampusCommunitiesOperatingPartnershipLimitedPartnershipMember_257BF31C6B7C398B77A984B8EF2609C9_label_en-US" xlink:label="lab_acc_AmericanCampusCommunitiesOperatingPartnershipLimitedPartnershipMember_70DC15EF061B5F8E9BF5AA26264D29EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> American Campus Communities Operating Partnership Limited Partnership [Member] </link:label>
<link:label id="lab_acc_AmericanCampusCommunitiesOperatingPartnershipLimitedPartnershipMember_257BF31C6B7C398B77A984B8EF2609C9_documentation_en-US" xlink:label="lab_acc_AmericanCampusCommunitiesOperatingPartnershipLimitedPartnershipMember_70DC15EF061B5F8E9BF5AA26264D29EE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents American campus communities operating partnership limited partnership. </link:label>
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<link:label id="lab_dei_EntityRegistrantName_40A5F86B884E25A46BE584B8EF267E7D_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName_0FE298A3C9A45CE6AC3D369A951CE963" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Entity Registrant Name </link:label>
<link:label id="lab_dei_EntityRegistrantName_40A5F86B884E25A46BE584B8EF267E7D_label_en-US" xlink:label="lab_dei_EntityRegistrantName_0FE298A3C9A45CE6AC3D369A951CE963" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Entity Registrant Name </link:label>
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<link:label id="lab_acc_RestrictedStockAwardsMember_F263BF240BC068F4C61B0229D5EC02B2_terseLabel_en-US" xlink:label="lab_acc_RestrictedStockAwardsMember_F263BF240BC068F4C61B0229D5EC02B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restricted Stock Awards </link:label>
<link:label id="lab_acc_RestrictedStockAwardsMember_F263BF240BC068F4C61B0229D5EC02B2_label_en-US" xlink:label="lab_acc_RestrictedStockAwardsMember_F263BF240BC068F4C61B0229D5EC02B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restricted Stock Awards [Member] </link:label>
<link:label id="lab_acc_RestrictedStockAwardsMember_F263BF240BC068F4C61B0229D5EC02B2_documentation_en-US" xlink:label="lab_acc_RestrictedStockAwardsMember_F263BF240BC068F4C61B0229D5EC02B2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Restricted Stock Awards [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_RestrictedStockAwardsMember" xlink:label="loc_acc_RestrictedStockAwardsMember_F263BF240BC068F4C61B0229D5EC02B2" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_RestrictedStockAwardsMember_F263BF240BC068F4C61B0229D5EC02B2" xlink:to="lab_acc_RestrictedStockAwardsMember_F263BF240BC068F4C61B0229D5EC02B2" xlink:type="arc"/>
<link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_923DF899B90321D1B5810229D5ECB54F_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_923DF899B90321D1B5810229D5ECB54F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Equity Method Investments [Line Items] </link:label>
<link:label id="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_923DF899B90321D1B5810229D5ECB54F_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_923DF899B90321D1B5810229D5ECB54F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Equity Method Investments [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentsLineItems" xlink:label="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_923DF899B90321D1B5810229D5ECB54F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_923DF899B90321D1B5810229D5ECB54F" xlink:to="lab_us-gaap_ScheduleOfEquityMethodInvestmentsLineItems_923DF899B90321D1B5810229D5ECB54F" xlink:type="arc"/>
<link:label id="lab_acc_AtTheMarketShareOfferingProgramAggregateOfferingPriceAuthorized_FE4442B2C224CF655FBB0229D5EC1655_terseLabel_en-US" xlink:label="lab_acc_AtTheMarketShareOfferingProgramAggregateOfferingPriceAuthorized_FE4442B2C224CF655FBB0229D5EC1655" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> ATM equity program, aggregate offering price authorized (up to $500 million) </link:label>
<link:label id="lab_acc_AtTheMarketShareOfferingProgramAggregateOfferingPriceAuthorized_FE4442B2C224CF655FBB0229D5EC1655_label_en-US" xlink:label="lab_acc_AtTheMarketShareOfferingProgramAggregateOfferingPriceAuthorized_FE4442B2C224CF655FBB0229D5EC1655" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> At The Market Share Offering Program, Aggregate Offering Price Authorized </link:label>
<link:label id="lab_acc_AtTheMarketShareOfferingProgramAggregateOfferingPriceAuthorized_FE4442B2C224CF655FBB0229D5EC1655_documentation_en-US" xlink:label="lab_acc_AtTheMarketShareOfferingProgramAggregateOfferingPriceAuthorized_FE4442B2C224CF655FBB0229D5EC1655" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> At The Market Share Offering Program, Aggregate Offering Price Authorized </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_AtTheMarketShareOfferingProgramAggregateOfferingPriceAuthorized" xlink:label="loc_acc_AtTheMarketShareOfferingProgramAggregateOfferingPriceAuthorized_FE4442B2C224CF655FBB0229D5EC1655" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_AtTheMarketShareOfferingProgramAggregateOfferingPriceAuthorized_FE4442B2C224CF655FBB0229D5EC1655" xlink:to="lab_acc_AtTheMarketShareOfferingProgramAggregateOfferingPriceAuthorized_FE4442B2C224CF655FBB0229D5EC1655" xlink:type="arc"/>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_F2FF74461FD7CE68030B0229D5ECC73A_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_F2FF74461FD7CE68030B0229D5ECC73A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net proceeds from sale of common stock (in shares) </link:label>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_F2FF74461FD7CE68030B0229D5ECC73A_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_F2FF74461FD7CE68030B0229D5ECC73A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Shares, New Issues </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_F2FF74461FD7CE68030B0229D5ECC73A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesNewIssues_F2FF74461FD7CE68030B0229D5ECC73A" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesNewIssues_F2FF74461FD7CE68030B0229D5ECC73A" xlink:type="arc"/>
<link:label id="lab_us-gaap_SharesIssuedPricePerShare_D992A9FE0D710C32BA330229D5EC1314_terseLabel_en-US" xlink:label="lab_us-gaap_SharesIssuedPricePerShare_D992A9FE0D710C32BA330229D5EC1314" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Shares issued as a result of ACC equity offering (in dollars per share) </link:label>
<link:label id="lab_us-gaap_SharesIssuedPricePerShare_D992A9FE0D710C32BA330229D5EC1314_label_en-US" xlink:label="lab_us-gaap_SharesIssuedPricePerShare_D992A9FE0D710C32BA330229D5EC1314" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Shares Issued, Price Per Share </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharesIssuedPricePerShare" xlink:label="loc_us-gaap_SharesIssuedPricePerShare_D992A9FE0D710C32BA330229D5EC1314" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SharesIssuedPricePerShare_D992A9FE0D710C32BA330229D5EC1314" xlink:to="lab_us-gaap_SharesIssuedPricePerShare_D992A9FE0D710C32BA330229D5EC1314" xlink:type="arc"/>
<link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_8240228A74686F9054880229D5EC4EC4_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_8240228A74686F9054880229D5EC4EC4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from sale of common stock </link:label>
<link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_8240228A74686F9054880229D5EC4EC4_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_8240228A74686F9054880229D5EC4EC4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Issuance of Common Stock </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_8240228A74686F9054880229D5EC4EC4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_8240228A74686F9054880229D5EC4EC4" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_8240228A74686F9054880229D5EC4EC4" xlink:type="arc"/>
<link:label id="lab_acc_ProceedsfromIssuanceofCommonStockNetofDiscountsandExpenses_E592F58ACCAE03B49EB80229D5EC4071_terseLabel_en-US" xlink:label="lab_acc_ProceedsfromIssuanceofCommonStockNetofDiscountsandExpenses_E592F58ACCAE03B49EB80229D5EC4071" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from issuance of common stock, net of discounts and expenses </link:label>
<link:label id="lab_acc_ProceedsfromIssuanceofCommonStockNetofDiscountsandExpenses_E592F58ACCAE03B49EB80229D5EC4071_label_en-US" xlink:label="lab_acc_ProceedsfromIssuanceofCommonStockNetofDiscountsandExpenses_E592F58ACCAE03B49EB80229D5EC4071" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Issuance of Common Stock, Net of Discounts and Expenses </link:label>
<link:label id="lab_acc_ProceedsfromIssuanceofCommonStockNetofDiscountsandExpenses_E592F58ACCAE03B49EB80229D5EC4071_documentation_en-US" xlink:label="lab_acc_ProceedsfromIssuanceofCommonStockNetofDiscountsandExpenses_E592F58ACCAE03B49EB80229D5EC4071" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Proceeds from Issuance of Common Stock, Net of Discounts and Expenses </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_ProceedsfromIssuanceofCommonStockNetofDiscountsandExpenses" xlink:label="loc_acc_ProceedsfromIssuanceofCommonStockNetofDiscountsandExpenses_E592F58ACCAE03B49EB80229D5EC4071" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_ProceedsfromIssuanceofCommonStockNetofDiscountsandExpenses_E592F58ACCAE03B49EB80229D5EC4071" xlink:to="lab_acc_ProceedsfromIssuanceofCommonStockNetofDiscountsandExpenses_E592F58ACCAE03B49EB80229D5EC4071" xlink:type="arc"/>
<link:label id="lab_us-gaap_TreasuryStockSharesAcquired_6F7B22CABD4C744447380229D5EC703C_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired_6F7B22CABD4C744447380229D5EC703C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of shares deposited into deferred compensation plan (in shares) </link:label>
<link:label id="lab_us-gaap_TreasuryStockSharesAcquired_6F7B22CABD4C744447380229D5EC703C_label_en-US" xlink:label="lab_us-gaap_TreasuryStockSharesAcquired_6F7B22CABD4C744447380229D5EC703C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock, Shares, Acquired </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TreasuryStockSharesAcquired" xlink:label="loc_us-gaap_TreasuryStockSharesAcquired_6F7B22CABD4C744447380229D5EC703C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockSharesAcquired_6F7B22CABD4C744447380229D5EC703C" xlink:to="lab_us-gaap_TreasuryStockSharesAcquired_6F7B22CABD4C744447380229D5EC703C" xlink:type="arc"/>
<link:label id="lab_us-gaap_TreasuryStockShares_955BEC907B13225FFAA40229D5EC16A6_verboseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockShares_955BEC907B13225FFAA40229D5EC16A6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Number of shares in deferred compensation plan (in shares) </link:label>
<link:label id="lab_us-gaap_TreasuryStockShares_955BEC907B13225FFAA40229D5EC16A6_label_en-US" xlink:label="lab_us-gaap_TreasuryStockShares_955BEC907B13225FFAA40229D5EC16A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Treasury Stock, Shares </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="loc_us-gaap_TreasuryStockShares_955BEC907B13225FFAA40229D5EC16A6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockShares_955BEC907B13225FFAA40229D5EC16A6" xlink:to="lab_us-gaap_TreasuryStockShares_955BEC907B13225FFAA40229D5EC16A6" xlink:type="arc"/>
<link:label id="lab_acc_DisclosureWhollyOwnedPropertiesAbstract_BBC1D4E9D8D3AD958FD884B8EE99C288_label_en-US" xlink:label="lab_acc_DisclosureWhollyOwnedPropertiesAbstract_46744F2BE5E2592681A291B4334C0DCB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disclosure Wholly Owned Properties [Abstract] </link:label>
<link:label id="lab_acc_DisclosureWhollyOwnedPropertiesAbstract_BBC1D4E9D8D3AD958FD884B8EE99C288_documentation_en-US" xlink:label="lab_acc_DisclosureWhollyOwnedPropertiesAbstract_46744F2BE5E2592681A291B4334C0DCB" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disclosure - Wholly-Owned Properties [Abstract] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_DisclosureWhollyOwnedPropertiesAbstract" xlink:label="loc_acc_DisclosureWhollyOwnedPropertiesAbstract_46744F2BE5E2592681A291B4334C0DCB" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_DisclosureWhollyOwnedPropertiesAbstract_46744F2BE5E2592681A291B4334C0DCB" xlink:to="lab_acc_DisclosureWhollyOwnedPropertiesAbstract_46744F2BE5E2592681A291B4334C0DCB" xlink:type="arc"/>
<link:label id="lab_us-gaap_ScheduleOfRealEstatePropertiesTable_F6FFE3E8BEB754B2021184B8EE99CB92_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfRealEstatePropertiesTable_4270420AD0E156BAB3B47670249E0753" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Real Estate Properties [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfRealEstatePropertiesTable_F6FFE3E8BEB754B2021184B8EE99CB92_label_en-US" xlink:label="lab_us-gaap_ScheduleOfRealEstatePropertiesTable_4270420AD0E156BAB3B47670249E0753" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Real Estate Properties [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfRealEstatePropertiesTable" xlink:label="loc_us-gaap_ScheduleOfRealEstatePropertiesTable_4270420AD0E156BAB3B47670249E0753" xlink:type="locator"/>
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<link:label id="lab_us-gaap_RealEstatePropertiesAxis_F9EA003690CA4710D6F984B8EE99DB36_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesAxis_33A7AE33311358A595EA6F314B3FD5E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Real Estate Property Ownership [Axis] </link:label>
<link:label id="lab_us-gaap_RealEstatePropertiesAxis_F9EA003690CA4710D6F984B8EE99DB36_label_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesAxis_33A7AE33311358A595EA6F314B3FD5E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Property Ownership [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstatePropertiesAxis" xlink:label="loc_us-gaap_RealEstatePropertiesAxis_33A7AE33311358A595EA6F314B3FD5E8" xlink:type="locator"/>
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<link:label id="lab_us-gaap_RealEstatePropertiesDomain_0B9F5EC5B8D75780497F84B8EE99330B_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesDomain_C06C385357825C6F8AA30127A7218E30" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Real Estate Properties [Domain] </link:label>
<link:label id="lab_us-gaap_RealEstatePropertiesDomain_0B9F5EC5B8D75780497F84B8EE99330B_label_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesDomain_C06C385357825C6F8AA30127A7218E30" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Properties [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstatePropertiesDomain" xlink:label="loc_us-gaap_RealEstatePropertiesDomain_C06C385357825C6F8AA30127A7218E30" xlink:type="locator"/>
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<link:label id="lab_us-gaap_WhollyOwnedPropertiesMember_424EE9FD6E38A42E50D984B8EE9925DC_terseLabel_en-US" xlink:label="lab_us-gaap_WhollyOwnedPropertiesMember_7851629EF28754E1B71098AF49AA7AB8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Wholly-owned properties </link:label>
<link:label id="lab_us-gaap_WhollyOwnedPropertiesMember_424EE9FD6E38A42E50D984B8EE9925DC_label_en-US" xlink:label="lab_us-gaap_WhollyOwnedPropertiesMember_7851629EF28754E1B71098AF49AA7AB8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Wholly Owned Properties [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WhollyOwnedPropertiesMember" xlink:label="loc_us-gaap_WhollyOwnedPropertiesMember_7851629EF28754E1B71098AF49AA7AB8" xlink:type="locator"/>
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<link:label id="lab_us-gaap_RealEstatePropertiesLineItems_BB41C5E2E951E31F4DE284B8EE994053_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesLineItems_CDBEE5277BBB5214B6091F3EBC1179EE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Real Estate Properties [Line Items] </link:label>
<link:label id="lab_us-gaap_RealEstatePropertiesLineItems_BB41C5E2E951E31F4DE284B8EE994053_label_en-US" xlink:label="lab_us-gaap_RealEstatePropertiesLineItems_CDBEE5277BBB5214B6091F3EBC1179EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Properties [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstatePropertiesLineItems" xlink:label="loc_us-gaap_RealEstatePropertiesLineItems_CDBEE5277BBB5214B6091F3EBC1179EE" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstatePropertiesLineItems_CDBEE5277BBB5214B6091F3EBC1179EE" xlink:to="lab_us-gaap_RealEstatePropertiesLineItems_CDBEE5277BBB5214B6091F3EBC1179EE" xlink:type="arc"/>
<link:label id="lab_us-gaap_RealEstateDisclosureTextBlock_1CD46C3531A0A1FBFF3684B8EE99FDE1_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateDisclosureTextBlock_CAB722B737405BF4931397A2D9314384" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investments in Wholly-Owned Properties </link:label>
<link:label id="lab_us-gaap_RealEstateDisclosureTextBlock_1CD46C3531A0A1FBFF3684B8EE99FDE1_label_en-US" xlink:label="lab_us-gaap_RealEstateDisclosureTextBlock_CAB722B737405BF4931397A2D9314384" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Disclosure [Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateDisclosureTextBlock" xlink:label="loc_us-gaap_RealEstateDisclosureTextBlock_CAB722B737405BF4931397A2D9314384" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateDisclosureTextBlock_CAB722B737405BF4931397A2D9314384" xlink:to="lab_us-gaap_RealEstateDisclosureTextBlock_CAB722B737405BF4931397A2D9314384" xlink:type="arc"/>
<link:label id="lab_us-gaap_SegmentReportingAbstract_0C3214C1642981D8D6289AB580DC76B3_label_en-US" xlink:label="lab_us-gaap_SegmentReportingAbstract_C9A61136DE7358EDAF2D38953462AE9B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segment Reporting [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SegmentReportingAbstract" xlink:label="loc_us-gaap_SegmentReportingAbstract_C9A61136DE7358EDAF2D38953462AE9B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingAbstract_C9A61136DE7358EDAF2D38953462AE9B" xlink:to="lab_us-gaap_SegmentReportingAbstract_C9A61136DE7358EDAF2D38953462AE9B" xlink:type="arc"/>
<link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_52637001E4DB9ADCC1819AB580DCD544_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_414FB3B33C705AC7A668ED1EA828FCDC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule Of Segment Reporting Information By Segment [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_52637001E4DB9ADCC1819AB580DCD544_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_414FB3B33C705AC7A668ED1EA828FCDC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Segment Reporting Information, by Segment [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_414FB3B33C705AC7A668ED1EA828FCDC" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_414FB3B33C705AC7A668ED1EA828FCDC" xlink:to="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTable_414FB3B33C705AC7A668ED1EA828FCDC" xlink:type="arc"/>
<link:label id="lab_us-gaap_ConsolidationItemsAxis_BB74A595E6B6CB37CC2D9AB580DD25F4_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationItemsAxis_6C57BFCC081C5A25A466FADB88F9E143" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Consolidation Items [Axis] </link:label>
<link:label id="lab_us-gaap_ConsolidationItemsAxis_BB74A595E6B6CB37CC2D9AB580DD25F4_label_en-US" xlink:label="lab_us-gaap_ConsolidationItemsAxis_6C57BFCC081C5A25A466FADB88F9E143" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Consolidation Items [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConsolidationItemsAxis" xlink:label="loc_us-gaap_ConsolidationItemsAxis_6C57BFCC081C5A25A466FADB88F9E143" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationItemsAxis_6C57BFCC081C5A25A466FADB88F9E143" xlink:to="lab_us-gaap_ConsolidationItemsAxis_6C57BFCC081C5A25A466FADB88F9E143" xlink:type="arc"/>
<link:label id="lab_us-gaap_ConsolidationItemsDomain_6484D006BB7F1945666E9AB580DD6B90_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationItemsDomain_93B9A8A7E51F5957B3901540DE2C712D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Consolidation Items [Domain] </link:label>
<link:label id="lab_us-gaap_ConsolidationItemsDomain_6484D006BB7F1945666E9AB580DD6B90_label_en-US" xlink:label="lab_us-gaap_ConsolidationItemsDomain_93B9A8A7E51F5957B3901540DE2C712D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Consolidation Items [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConsolidationItemsDomain" xlink:label="loc_us-gaap_ConsolidationItemsDomain_93B9A8A7E51F5957B3901540DE2C712D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationItemsDomain_93B9A8A7E51F5957B3901540DE2C712D" xlink:to="lab_us-gaap_ConsolidationItemsDomain_93B9A8A7E51F5957B3901540DE2C712D" xlink:type="arc"/>
<link:label id="lab_us-gaap_OperatingSegmentsMember_49A56AA2E70D54AC1CA69AB580DD772A_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember_AB2AE976299551EB92E53B0580ECEE79" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Operating segments </link:label>
<link:label id="lab_us-gaap_OperatingSegmentsMember_49A56AA2E70D54AC1CA69AB580DD772A_label_en-US" xlink:label="lab_us-gaap_OperatingSegmentsMember_AB2AE976299551EB92E53B0580ECEE79" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Segments [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingSegmentsMember" xlink:label="loc_us-gaap_OperatingSegmentsMember_AB2AE976299551EB92E53B0580ECEE79" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingSegmentsMember_AB2AE976299551EB92E53B0580ECEE79" xlink:to="lab_us-gaap_OperatingSegmentsMember_AB2AE976299551EB92E53B0580ECEE79" xlink:type="arc"/>
<link:label id="lab_us-gaap_CorporateNonSegmentMember_F300093DDDE38E5AB7F89AB580DD2251_verboseLabel_en-US" xlink:label="lab_us-gaap_CorporateNonSegmentMember_DBBFA4D2CE4C55E1AC8067957F86412D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Unallocated </link:label>
<link:label id="lab_us-gaap_CorporateNonSegmentMember_F300093DDDE38E5AB7F89AB580DD2251_label_en-US" xlink:label="lab_us-gaap_CorporateNonSegmentMember_DBBFA4D2CE4C55E1AC8067957F86412D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Corporate, Non-Segment [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CorporateNonSegmentMember" xlink:label="loc_us-gaap_CorporateNonSegmentMember_DBBFA4D2CE4C55E1AC8067957F86412D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CorporateNonSegmentMember_DBBFA4D2CE4C55E1AC8067957F86412D" xlink:to="lab_us-gaap_CorporateNonSegmentMember_DBBFA4D2CE4C55E1AC8067957F86412D" xlink:type="arc"/>
<link:label id="lab_us-gaap_IntersegmentEliminationMember_3585ABE30EC006B194419AB580DDE843_verboseLabel_en-US" xlink:label="lab_us-gaap_IntersegmentEliminationMember_DD384E0D87E25AD98DB8A64344232363" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Elimination of intersegment revenues </link:label>
<link:label id="lab_us-gaap_IntersegmentEliminationMember_3585ABE30EC006B194419AB580DDE843_label_en-US" xlink:label="lab_us-gaap_IntersegmentEliminationMember_DD384E0D87E25AD98DB8A64344232363" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Intersegment Eliminations [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IntersegmentEliminationMember" xlink:label="loc_us-gaap_IntersegmentEliminationMember_DD384E0D87E25AD98DB8A64344232363" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IntersegmentEliminationMember_DD384E0D87E25AD98DB8A64344232363" xlink:to="lab_us-gaap_IntersegmentEliminationMember_DD384E0D87E25AD98DB8A64344232363" xlink:type="arc"/>
<link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_FCC89BDA8B19C57171AE9AB580DF2DA5_terseLabel_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis_432C9202004C5FAF8C50A1643ABAF35A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Statement Business Segments [Axis] </link:label>
<link:label id="lab_us-gaap_StatementBusinessSegmentsAxis_FCC89BDA8B19C57171AE9AB580DF2DA5_label_en-US" xlink:label="lab_us-gaap_StatementBusinessSegmentsAxis_432C9202004C5FAF8C50A1643ABAF35A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segments [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementBusinessSegmentsAxis" xlink:label="loc_us-gaap_StatementBusinessSegmentsAxis_432C9202004C5FAF8C50A1643ABAF35A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementBusinessSegmentsAxis_432C9202004C5FAF8C50A1643ABAF35A" xlink:to="lab_us-gaap_StatementBusinessSegmentsAxis_432C9202004C5FAF8C50A1643ABAF35A" xlink:type="arc"/>
<link:label id="lab_us-gaap_SegmentDomain_F2D4FA9F42A042FA4AA59AB580DF4A12_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentDomain_B0B739B6F855546C9C663732460DF496" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Segment [Domain] </link:label>
<link:label id="lab_us-gaap_SegmentDomain_F2D4FA9F42A042FA4AA59AB580DF4A12_label_en-US" xlink:label="lab_us-gaap_SegmentDomain_B0B739B6F855546C9C663732460DF496" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segments [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SegmentDomain" xlink:label="loc_us-gaap_SegmentDomain_B0B739B6F855546C9C663732460DF496" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentDomain_B0B739B6F855546C9C663732460DF496" xlink:to="lab_us-gaap_SegmentDomain_B0B739B6F855546C9C663732460DF496" xlink:type="arc"/>
<link:label id="lab_acc_OnCampusParticipatingPropertiesMember_FE71399CDE0AD0E0FEE09AB580DFC14B_terseLabel_en-US" xlink:label="lab_acc_OnCampusParticipatingPropertiesMember_BEC6BF7DFF0F5E70A0636BE89B03AE63" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> On-campus participating properties </link:label>
<link:label id="lab_acc_OnCampusParticipatingPropertiesMember_FE71399CDE0AD0E0FEE09AB580DFC14B_label_en-US" xlink:label="lab_acc_OnCampusParticipatingPropertiesMember_BEC6BF7DFF0F5E70A0636BE89B03AE63" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> On Campus Participating Properties [Member] </link:label>
<link:label id="lab_acc_OnCampusParticipatingPropertiesMember_FE71399CDE0AD0E0FEE09AB580DFC14B_documentation_en-US" xlink:label="lab_acc_OnCampusParticipatingPropertiesMember_BEC6BF7DFF0F5E70A0636BE89B03AE63" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents on campus participating properties. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_OnCampusParticipatingPropertiesMember" xlink:label="loc_acc_OnCampusParticipatingPropertiesMember_BEC6BF7DFF0F5E70A0636BE89B03AE63" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_OnCampusParticipatingPropertiesMember_BEC6BF7DFF0F5E70A0636BE89B03AE63" xlink:to="lab_acc_OnCampusParticipatingPropertiesMember_BEC6BF7DFF0F5E70A0636BE89B03AE63" xlink:type="arc"/>
<link:label id="lab_acc_DevelopmentServicesMember_5B2DD1333B2846EAB5F59AB580DF1DE6_terseLabel_en-US" xlink:label="lab_acc_DevelopmentServicesMember_85F9300116435D7CB243138193031D18" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Development Services </link:label>
<link:label id="lab_acc_DevelopmentServicesMember_5B2DD1333B2846EAB5F59AB580DF1DE6_label_en-US" xlink:label="lab_acc_DevelopmentServicesMember_85F9300116435D7CB243138193031D18" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Development Services [Member] </link:label>
<link:label id="lab_acc_DevelopmentServicesMember_5B2DD1333B2846EAB5F59AB580DF1DE6_documentation_en-US" xlink:label="lab_acc_DevelopmentServicesMember_85F9300116435D7CB243138193031D18" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Development Services [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_DevelopmentServicesMember" xlink:label="loc_acc_DevelopmentServicesMember_85F9300116435D7CB243138193031D18" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_DevelopmentServicesMember_85F9300116435D7CB243138193031D18" xlink:to="lab_acc_DevelopmentServicesMember_85F9300116435D7CB243138193031D18" xlink:type="arc"/>
<link:label id="lab_acc_PropertyManagementServicesMember_09FF21DD142B4151C6769AB580DF4D82_terseLabel_en-US" xlink:label="lab_acc_PropertyManagementServicesMember_26B94F939138567CA6F7B773ACAF92B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Property Management Services </link:label>
<link:label id="lab_acc_PropertyManagementServicesMember_09FF21DD142B4151C6769AB580DF4D82_label_en-US" xlink:label="lab_acc_PropertyManagementServicesMember_26B94F939138567CA6F7B773ACAF92B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property Management Services [Member] </link:label>
<link:label id="lab_acc_PropertyManagementServicesMember_09FF21DD142B4151C6769AB580DF4D82_documentation_en-US" xlink:label="lab_acc_PropertyManagementServicesMember_26B94F939138567CA6F7B773ACAF92B3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Property Management Services [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_PropertyManagementServicesMember" xlink:label="loc_acc_PropertyManagementServicesMember_26B94F939138567CA6F7B773ACAF92B3" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_PropertyManagementServicesMember_26B94F939138567CA6F7B773ACAF92B3" xlink:to="lab_acc_PropertyManagementServicesMember_26B94F939138567CA6F7B773ACAF92B3" xlink:type="arc"/>
<link:label id="lab_us-gaap_SegmentReportingInformationLineItems_A1B03F9C79DE0894EE2E9AB580E07015_terseLabel_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems_BBE25DF846DB55AAA03A0D77887DEFB6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Segment Reporting Information [Line Items] </link:label>
<link:label id="lab_us-gaap_SegmentReportingInformationLineItems_A1B03F9C79DE0894EE2E9AB580E07015_label_en-US" xlink:label="lab_us-gaap_SegmentReportingInformationLineItems_BBE25DF846DB55AAA03A0D77887DEFB6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segment Reporting Information [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SegmentReportingInformationLineItems" xlink:label="loc_us-gaap_SegmentReportingInformationLineItems_BBE25DF846DB55AAA03A0D77887DEFB6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SegmentReportingInformationLineItems_BBE25DF846DB55AAA03A0D77887DEFB6" xlink:to="lab_us-gaap_SegmentReportingInformationLineItems_BBE25DF846DB55AAA03A0D77887DEFB6" xlink:type="arc"/>
<link:label id="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_DF3F0E9DCB4976728F4E9AB580E0E698_verboseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_299B24F9B77A5FE3B31DE3A3539B09E2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Total revenues and other income </link:label>
<link:label id="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_DF3F0E9DCB4976728F4E9AB580E0E698_label_en-US" xlink:label="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_299B24F9B77A5FE3B31DE3A3539B09E2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Income Statement, Lease Revenue </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementLeaseRevenue" xlink:label="loc_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_299B24F9B77A5FE3B31DE3A3539B09E2" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_299B24F9B77A5FE3B31DE3A3539B09E2" xlink:to="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_299B24F9B77A5FE3B31DE3A3539B09E2" xlink:type="arc"/>
<link:label id="lab_us-gaap_InterestAndOtherIncome_2E9F57CFE17AC59861509AB580E0AFF0_terseLabel_en-US" xlink:label="lab_us-gaap_InterestAndOtherIncome_9A6418E422AE53D193B45D84A4DD355F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest income </link:label>
<link:label id="lab_us-gaap_InterestAndOtherIncome_2E9F57CFE17AC59861509AB580E0AFF0_label_en-US" xlink:label="lab_us-gaap_InterestAndOtherIncome_9A6418E422AE53D193B45D84A4DD355F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest and Other Income </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestAndOtherIncome" xlink:label="loc_us-gaap_InterestAndOtherIncome_9A6418E422AE53D193B45D84A4DD355F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestAndOtherIncome_9A6418E422AE53D193B45D84A4DD355F" xlink:to="lab_us-gaap_InterestAndOtherIncome_9A6418E422AE53D193B45D84A4DD355F" xlink:type="arc"/>
<link:label id="lab_us-gaap_Revenues_E22CE623C432F927BBA59AB580E05A9B_totalLabel_en-US" xlink:label="lab_us-gaap_Revenues_784FD43B1ABC535BA89678285466BABA" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total revenues </link:label>
<link:label id="lab_us-gaap_Revenues_E22CE623C432F927BBA59AB580E05A9B_label_en-US" xlink:label="lab_us-gaap_Revenues_784FD43B1ABC535BA89678285466BABA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revenues </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Revenues" xlink:label="loc_us-gaap_Revenues_784FD43B1ABC535BA89678285466BABA" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Revenues_784FD43B1ABC535BA89678285466BABA" xlink:to="lab_us-gaap_Revenues_784FD43B1ABC535BA89678285466BABA" xlink:type="arc"/>
<link:label id="lab_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_E7D3B5981752B5BF50259AB580E01F86_negatedLabel_en-US" xlink:label="lab_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_72C58F12F6425385BD259DAACD5E98D1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Operating expenses before depreciation, amortization, ground/facility leases and allocation of corporate overhead </link:label>
<link:label id="lab_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_E7D3B5981752B5BF50259AB580E01F86_label_en-US" xlink:label="lab_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_72C58F12F6425385BD259DAACD5E98D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Expenses Excluding General Administrative Depreciation and Lease Expense </link:label>
<link:label id="lab_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_E7D3B5981752B5BF50259AB580E01F86_documentation_en-US" xlink:label="lab_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_72C58F12F6425385BD259DAACD5E98D1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes general, administrative, depreciation and lease expense. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense" xlink:label="loc_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_72C58F12F6425385BD259DAACD5E98D1" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_72C58F12F6425385BD259DAACD5E98D1" xlink:to="lab_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_72C58F12F6425385BD259DAACD5E98D1" xlink:type="arc"/>
<link:label id="lab_us-gaap_LeaseAndRentalExpense_3D34F394DA14757256A29AB580E011A7_negatedLabel_en-US" xlink:label="lab_us-gaap_LeaseAndRentalExpense_B822577ED9235CBF93EA6C86D6C845EE" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Ground/facility leases </link:label>
<link:label id="lab_us-gaap_LeaseAndRentalExpense_3D34F394DA14757256A29AB580E011A7_label_en-US" xlink:label="lab_us-gaap_LeaseAndRentalExpense_B822577ED9235CBF93EA6C86D6C845EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Leases, Rent Expense </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LeaseAndRentalExpense" xlink:label="loc_us-gaap_LeaseAndRentalExpense_B822577ED9235CBF93EA6C86D6C845EE" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseAndRentalExpense_B822577ED9235CBF93EA6C86D6C845EE" xlink:to="lab_us-gaap_LeaseAndRentalExpense_B822577ED9235CBF93EA6C86D6C845EE" xlink:type="arc"/>
<link:label id="lab_us-gaap_InterestExpense_BAF2043B005E3010BD2D9AB580E0571F_negatedLabel_en-US" xlink:label="lab_us-gaap_InterestExpense_5723530FBE2759FFAC96EB33644D149D" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Interest expense </link:label>
<link:label id="lab_us-gaap_InterestExpense_BAF2043B005E3010BD2D9AB580E0571F_label_en-US" xlink:label="lab_us-gaap_InterestExpense_5723530FBE2759FFAC96EB33644D149D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Expense </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestExpense" xlink:label="loc_us-gaap_InterestExpense_5723530FBE2759FFAC96EB33644D149D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InterestExpense_5723530FBE2759FFAC96EB33644D149D" xlink:to="lab_us-gaap_InterestExpense_5723530FBE2759FFAC96EB33644D149D" xlink:type="arc"/>
<link:label id="lab_acc_SegmentReportingInformationOperatingIncomeLossBeforeDepreciationAndAmortization_EE62C159BBC5EA8AC3539AB580E0C880_totalLabel_en-US" xlink:label="lab_acc_SegmentReportingInformationOperatingIncomeLossBeforeDepreciationAndAmortization_7681F16BB0E55DB2B513B47217F8888A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Operating income before depreciation, amortization and allocation of corporate overhead </link:label>
<link:label id="lab_acc_SegmentReportingInformationOperatingIncomeLossBeforeDepreciationAndAmortization_EE62C159BBC5EA8AC3539AB580E0C880_label_en-US" xlink:label="lab_acc_SegmentReportingInformationOperatingIncomeLossBeforeDepreciationAndAmortization_7681F16BB0E55DB2B513B47217F8888A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segment Reporting Information Operating Income Loss Before Depreciation and Amortization </link:label>
<link:label id="lab_acc_SegmentReportingInformationOperatingIncomeLossBeforeDepreciationAndAmortization_EE62C159BBC5EA8AC3539AB580E0C880_documentation_en-US" xlink:label="lab_acc_SegmentReportingInformationOperatingIncomeLossBeforeDepreciationAndAmortization_7681F16BB0E55DB2B513B47217F8888A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents segment reporting information, operating income (loss) before depreciation and amortization. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_SegmentReportingInformationOperatingIncomeLossBeforeDepreciationAndAmortization" xlink:label="loc_acc_SegmentReportingInformationOperatingIncomeLossBeforeDepreciationAndAmortization_7681F16BB0E55DB2B513B47217F8888A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_SegmentReportingInformationOperatingIncomeLossBeforeDepreciationAndAmortization_7681F16BB0E55DB2B513B47217F8888A" xlink:to="lab_acc_SegmentReportingInformationOperatingIncomeLossBeforeDepreciationAndAmortization_7681F16BB0E55DB2B513B47217F8888A" xlink:type="arc"/>
<link:label id="lab_us-gaap_OtherDepreciationAndAmortization_8CCF37D72840D69F14E39AB580E0C2B9_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherDepreciationAndAmortization_840AD43B4ED6515CAD778C964494CA1E" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Depreciation and amortization </link:label>
<link:label id="lab_us-gaap_OtherDepreciationAndAmortization_8CCF37D72840D69F14E39AB580E0C2B9_label_en-US" xlink:label="lab_us-gaap_OtherDepreciationAndAmortization_840AD43B4ED6515CAD778C964494CA1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Depreciation and Amortization </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherDepreciationAndAmortization" xlink:label="loc_us-gaap_OtherDepreciationAndAmortization_840AD43B4ED6515CAD778C964494CA1E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherDepreciationAndAmortization_840AD43B4ED6515CAD778C964494CA1E" xlink:to="lab_us-gaap_OtherDepreciationAndAmortization_840AD43B4ED6515CAD778C964494CA1E" xlink:type="arc"/>
<link:label id="lab_us-gaap_PaymentsToAcquireProductiveAssets_EE4993CED4C9C115F7329AB580E01A7A_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireProductiveAssets_5DE3BAEA025550DC996BE9B100A449BF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Capital expenditures </link:label>
<link:label id="lab_us-gaap_PaymentsToAcquireProductiveAssets_EE4993CED4C9C115F7329AB580E01A7A_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireProductiveAssets_5DE3BAEA025550DC996BE9B100A449BF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Productive Assets </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="loc_us-gaap_PaymentsToAcquireProductiveAssets_5DE3BAEA025550DC996BE9B100A449BF" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireProductiveAssets_5DE3BAEA025550DC996BE9B100A449BF" xlink:to="lab_us-gaap_PaymentsToAcquireProductiveAssets_5DE3BAEA025550DC996BE9B100A449BF" xlink:type="arc"/>
<link:label id="lab_acc_SegmentReportingAssets_8BC77391D405FEE4C75D9AB580E0C539_terseLabel_en-US" xlink:label="lab_acc_SegmentReportingAssets_3245ED112D4857968F2D08B29F110E50" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total segment assets </link:label>
<link:label id="lab_acc_SegmentReportingAssets_8BC77391D405FEE4C75D9AB580E0C539_label_en-US" xlink:label="lab_acc_SegmentReportingAssets_3245ED112D4857968F2D08B29F110E50" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Segment Reporting Assets </link:label>
<link:label id="lab_acc_SegmentReportingAssets_8BC77391D405FEE4C75D9AB580E0C539_documentation_en-US" xlink:label="lab_acc_SegmentReportingAssets_3245ED112D4857968F2D08B29F110E50" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents segment reporting assets. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_SegmentReportingAssets" xlink:label="loc_acc_SegmentReportingAssets_3245ED112D4857968F2D08B29F110E50" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_SegmentReportingAssets_3245ED112D4857968F2D08B29F110E50" xlink:to="lab_acc_SegmentReportingAssets_3245ED112D4857968F2D08B29F110E50" xlink:type="arc"/>
<link:label id="lab_acc_DevelopmentAndManagementFeesRevenue_18D05007F1B752A1AD139AB580E0B551_terseLabel_en-US" xlink:label="lab_acc_DevelopmentAndManagementFeesRevenue_CE6F2AD241B4534CA406777304B607F4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Development and construction management fees </link:label>
<link:label id="lab_acc_DevelopmentAndManagementFeesRevenue_18D05007F1B752A1AD139AB580E0B551_label_en-US" xlink:label="lab_acc_DevelopmentAndManagementFeesRevenue_CE6F2AD241B4534CA406777304B607F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Development and Management Fees Revenue </link:label>
<link:label id="lab_acc_DevelopmentAndManagementFeesRevenue_18D05007F1B752A1AD139AB580E0B551_documentation_en-US" xlink:label="lab_acc_DevelopmentAndManagementFeesRevenue_CE6F2AD241B4534CA406777304B607F4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The total amount of revenue recognized for the period from development and management fees revenue. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_DevelopmentAndManagementFeesRevenue" xlink:label="loc_acc_DevelopmentAndManagementFeesRevenue_CE6F2AD241B4534CA406777304B607F4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_DevelopmentAndManagementFeesRevenue_CE6F2AD241B4534CA406777304B607F4" xlink:to="lab_acc_DevelopmentAndManagementFeesRevenue_CE6F2AD241B4534CA406777304B607F4" xlink:type="arc"/>
<link:label id="lab_us-gaap_OperatingExpenses_45C53DF96778CBC3AB579AB580E05A0B_negatedLabel_en-US" xlink:label="lab_us-gaap_OperatingExpenses_225311899EDB56E0BFB780F7C662808F" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Operating expenses </link:label>
<link:label id="lab_us-gaap_OperatingExpenses_45C53DF96778CBC3AB579AB580E05A0B_label_en-US" xlink:label="lab_us-gaap_OperatingExpenses_225311899EDB56E0BFB780F7C662808F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Expenses </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="loc_us-gaap_OperatingExpenses_225311899EDB56E0BFB780F7C662808F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpenses_225311899EDB56E0BFB780F7C662808F" xlink:to="lab_us-gaap_OperatingExpenses_225311899EDB56E0BFB780F7C662808F" xlink:type="arc"/>
<link:label id="lab_us-gaap_ManagementFeesRevenue_56089AD98765C5DBD4759AB580E00522_verboseLabel_en-US" xlink:label="lab_us-gaap_ManagementFeesRevenue_D0B18D4CF80857FB987409E1251F501D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Property management fees from external customers </link:label>
<link:label id="lab_us-gaap_ManagementFeesRevenue_56089AD98765C5DBD4759AB580E00522_label_en-US" xlink:label="lab_us-gaap_ManagementFeesRevenue_D0B18D4CF80857FB987409E1251F501D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Management Fees Revenue </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ManagementFeesRevenue" xlink:label="loc_us-gaap_ManagementFeesRevenue_D0B18D4CF80857FB987409E1251F501D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementFeesRevenue_D0B18D4CF80857FB987409E1251F501D" xlink:to="lab_us-gaap_ManagementFeesRevenue_D0B18D4CF80857FB987409E1251F501D" xlink:type="arc"/>
<link:label id="lab_acc_InterSegmentRevenue_0081D94A08317C962E849AB580E0E420_terseLabel_en-US" xlink:label="lab_acc_InterSegmentRevenue_DD1DF4A56F41592E82CB47515BFD33EA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Intersegment revenues </link:label>
<link:label id="lab_acc_InterSegmentRevenue_0081D94A08317C962E849AB580E0E420_label_en-US" xlink:label="lab_acc_InterSegmentRevenue_DD1DF4A56F41592E82CB47515BFD33EA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Inter Segment Revenue </link:label>
<link:label id="lab_acc_InterSegmentRevenue_0081D94A08317C962E849AB580E0E420_documentation_en-US" xlink:label="lab_acc_InterSegmentRevenue_DD1DF4A56F41592E82CB47515BFD33EA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of revenue from transactions with other operating segments of the same entity. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_InterSegmentRevenue" xlink:label="loc_acc_InterSegmentRevenue_DD1DF4A56F41592E82CB47515BFD33EA" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_InterSegmentRevenue_DD1DF4A56F41592E82CB47515BFD33EA" xlink:to="lab_acc_InterSegmentRevenue_DD1DF4A56F41592E82CB47515BFD33EA" xlink:type="arc"/>
<link:label id="lab_acc_TotalConsolidatedRevenuesIncludingInterestIncome_2E352AE7C444F67E5A3C9AB580E1E83C_terseLabel_en-US" xlink:label="lab_acc_TotalConsolidatedRevenuesIncludingInterestIncome_C709DCD0FE08516C93EEBA66AC703C8D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total consolidated revenues, including interest income </link:label>
<link:label id="lab_acc_TotalConsolidatedRevenuesIncludingInterestIncome_2E352AE7C444F67E5A3C9AB580E1E83C_label_en-US" xlink:label="lab_acc_TotalConsolidatedRevenuesIncludingInterestIncome_C709DCD0FE08516C93EEBA66AC703C8D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Total Consolidated Revenues Including Interest Income </link:label>
<link:label id="lab_acc_TotalConsolidatedRevenuesIncludingInterestIncome_2E352AE7C444F67E5A3C9AB580E1E83C_documentation_en-US" xlink:label="lab_acc_TotalConsolidatedRevenuesIncludingInterestIncome_C709DCD0FE08516C93EEBA66AC703C8D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Total Consolidated Revenues Including Interest Income </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TotalConsolidatedRevenuesIncludingInterestIncome" xlink:label="loc_acc_TotalConsolidatedRevenuesIncludingInterestIncome_C709DCD0FE08516C93EEBA66AC703C8D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TotalConsolidatedRevenuesIncludingInterestIncome_C709DCD0FE08516C93EEBA66AC703C8D" xlink:to="lab_acc_TotalConsolidatedRevenuesIncludingInterestIncome_C709DCD0FE08516C93EEBA66AC703C8D" xlink:type="arc"/>
<link:label id="lab_us-gaap_OperatingIncomeLoss_C035404D08BA4E99988F9AB580E11465_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss_6C5979FFFC9D5970A90DCDDA821E3F04" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Segment operating income before depreciation, amortization and allocation of corporate overhead </link:label>
<link:label id="lab_us-gaap_OperatingIncomeLoss_C035404D08BA4E99988F9AB580E11465_label_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss_6C5979FFFC9D5970A90DCDDA821E3F04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Income (Loss) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_us-gaap_OperatingIncomeLoss_6C5979FFFC9D5970A90DCDDA821E3F04" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingIncomeLoss_6C5979FFFC9D5970A90DCDDA821E3F04" xlink:to="lab_us-gaap_OperatingIncomeLoss_6C5979FFFC9D5970A90DCDDA821E3F04" xlink:type="arc"/>
<link:label id="lab_acc_GainLossonDispositionofRealEstate_75173D5AA60A1CC8793F9AB580E1333F_verboseLabel_en-US" xlink:label="lab_acc_GainLossonDispositionofRealEstate_16129E3DDDFC56A9BC9C60310421A9F8" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> (Loss) gain from disposition of real estate </link:label>
<link:label id="lab_acc_GainLossonDispositionofRealEstate_75173D5AA60A1CC8793F9AB580E1333F_label_en-US" xlink:label="lab_acc_GainLossonDispositionofRealEstate_16129E3DDDFC56A9BC9C60310421A9F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Gain (Loss) on Disposition of Real Estate </link:label>
<link:label id="lab_acc_GainLossonDispositionofRealEstate_75173D5AA60A1CC8793F9AB580E1333F_documentation_en-US" xlink:label="lab_acc_GainLossonDispositionofRealEstate_16129E3DDDFC56A9BC9C60310421A9F8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Gain (Loss) on Disposition of Real Estate </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_GainLossonDispositionofRealEstate" xlink:label="loc_acc_GainLossonDispositionofRealEstate_16129E3DDDFC56A9BC9C60310421A9F8" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_GainLossonDispositionofRealEstate_16129E3DDDFC56A9BC9C60310421A9F8" xlink:to="lab_acc_GainLossonDispositionofRealEstate_16129E3DDDFC56A9BC9C60310421A9F8" xlink:type="arc"/>
<link:label id="lab_us-gaap_ImpairmentOfRealEstate_4507134EF11165EF900C9AB580E19AAB_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate_C56036742DFE590493D7C23BB158EA5F" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Provision for real estate impairment </link:label>
<link:label id="lab_us-gaap_ImpairmentOfRealEstate_4507134EF11165EF900C9AB580E19AAB_label_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate_C56036742DFE590493D7C23BB158EA5F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Impairment of Real Estate </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ImpairmentOfRealEstate" xlink:label="loc_us-gaap_ImpairmentOfRealEstate_C56036742DFE590493D7C23BB158EA5F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairmentOfRealEstate_C56036742DFE590493D7C23BB158EA5F" xlink:to="lab_us-gaap_ImpairmentOfRealEstate_C56036742DFE590493D7C23BB158EA5F" xlink:type="arc"/>
<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_604D062DF8CD7AA3D6569AB580E12016_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_8AD5B2631F1258DB8D8F8EF0D310AD17" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Income tax provision </link:label>
<link:label id="lab_us-gaap_IncomeTaxExpenseBenefit_604D062DF8CD7AA3D6569AB580E12016_label_en-US" xlink:label="lab_us-gaap_IncomeTaxExpenseBenefit_8AD5B2631F1258DB8D8F8EF0D310AD17" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Tax Expense (Benefit) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_8AD5B2631F1258DB8D8F8EF0D310AD17" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeTaxExpenseBenefit_8AD5B2631F1258DB8D8F8EF0D310AD17" xlink:to="lab_us-gaap_IncomeTaxExpenseBenefit_8AD5B2631F1258DB8D8F8EF0D310AD17" xlink:type="arc"/>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_E88E4BE969DAEEDE38079AB580E16174_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_32C234C65C845D74BC709E221A9ED211" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net income </link:label>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_E88E4BE969DAEEDE38079AB580E16174_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_32C234C65C845D74BC709E221A9ED211" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_32C234C65C845D74BC709E221A9ED211" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_32C234C65C845D74BC709E221A9ED211" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_32C234C65C845D74BC709E221A9ED211" xlink:type="arc"/>
<link:label id="lab_acc_UnallocatedCorporateAssets_5CB10B1F228B4F73DF639AB580E17953_terseLabel_en-US" xlink:label="lab_acc_UnallocatedCorporateAssets_54CC3A9923135B42AD04A6F716560495" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unallocated corporate assets </link:label>
<link:label id="lab_acc_UnallocatedCorporateAssets_5CB10B1F228B4F73DF639AB580E17953_label_en-US" xlink:label="lab_acc_UnallocatedCorporateAssets_54CC3A9923135B42AD04A6F716560495" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unallocated Corporate Assets </link:label>
<link:label id="lab_acc_UnallocatedCorporateAssets_5CB10B1F228B4F73DF639AB580E17953_documentation_en-US" xlink:label="lab_acc_UnallocatedCorporateAssets_54CC3A9923135B42AD04A6F716560495" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents unallocated corporate assets. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_UnallocatedCorporateAssets" xlink:label="loc_acc_UnallocatedCorporateAssets_54CC3A9923135B42AD04A6F716560495" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_UnallocatedCorporateAssets_54CC3A9923135B42AD04A6F716560495" xlink:to="lab_acc_UnallocatedCorporateAssets_54CC3A9923135B42AD04A6F716560495" xlink:type="arc"/>
<link:label id="lab_us-gaap_Assets_0525C344973B5863B7629AB580E1BC03_totalLabel_en-US" xlink:label="lab_us-gaap_Assets_3BD239D03C9D511E9E923EEE6E19F3D9" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total assets </link:label>
<link:label id="lab_us-gaap_Assets_0525C344973B5863B7629AB580E1BC03_label_en-US" xlink:label="lab_us-gaap_Assets_3BD239D03C9D511E9E923EEE6E19F3D9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Assets" xlink:label="loc_us-gaap_Assets_3BD239D03C9D511E9E923EEE6E19F3D9" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Assets_3BD239D03C9D511E9E923EEE6E19F3D9" xlink:to="lab_us-gaap_Assets_3BD239D03C9D511E9E923EEE6E19F3D9" xlink:type="arc"/>
<link:label id="lab_us-gaap_IncomeStatementAbstract_3FA13FBB7C7DD8E560AC01F8B81EC300_label_en-US" xlink:label="lab_us-gaap_IncomeStatementAbstract_3FA13FBB7C7DD8E560AC01F8B81EC300" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Statement [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementAbstract" xlink:label="loc_us-gaap_IncomeStatementAbstract_3FA13FBB7C7DD8E560AC01F8B81EC300" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementAbstract_3FA13FBB7C7DD8E560AC01F8B81EC300" xlink:to="lab_us-gaap_IncomeStatementAbstract_3FA13FBB7C7DD8E560AC01F8B81EC300" xlink:type="arc"/>
<link:label id="lab_us-gaap_StatementTable_BA689E1EAC71A84C28F201F8B81E98AA_terseLabel_en-US" xlink:label="lab_us-gaap_StatementTable_BA689E1EAC71A84C28F201F8B81E98AA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Statement [Table] </link:label>
<link:label id="lab_us-gaap_StatementTable_BA689E1EAC71A84C28F201F8B81E98AA_label_en-US" xlink:label="lab_us-gaap_StatementTable_BA689E1EAC71A84C28F201F8B81E98AA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementTable" xlink:label="loc_us-gaap_StatementTable_BA689E1EAC71A84C28F201F8B81E98AA" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementTable_BA689E1EAC71A84C28F201F8B81E98AA" xlink:to="lab_us-gaap_StatementTable_BA689E1EAC71A84C28F201F8B81E98AA" xlink:type="arc"/>
<link:label id="lab_us-gaap_PartiallyOwnedPropertiesMember_36F0A2E573F86EA9F41901F8B81F8DE0_terseLabel_en-US" xlink:label="lab_us-gaap_PartiallyOwnedPropertiesMember_36F0A2E573F86EA9F41901F8B81F8DE0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Partially owned properties </link:label>
<link:label id="lab_us-gaap_PartiallyOwnedPropertiesMember_36F0A2E573F86EA9F41901F8B81F8DE0_label_en-US" xlink:label="lab_us-gaap_PartiallyOwnedPropertiesMember_36F0A2E573F86EA9F41901F8B81F8DE0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partially Owned Properties [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartiallyOwnedPropertiesMember" xlink:label="loc_us-gaap_PartiallyOwnedPropertiesMember_36F0A2E573F86EA9F41901F8B81F8DE0" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartiallyOwnedPropertiesMember_36F0A2E573F86EA9F41901F8B81F8DE0" xlink:to="lab_us-gaap_PartiallyOwnedPropertiesMember_36F0A2E573F86EA9F41901F8B81F8DE0" xlink:type="arc"/>
<link:label id="lab_us-gaap_StatementClassOfStockAxis_88E1F6DA7922E46721E801F8B81FE650_terseLabel_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis_88E1F6DA7922E46721E801F8B81FE650" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Class of Stock [Axis] </link:label>
<link:label id="lab_us-gaap_StatementClassOfStockAxis_88E1F6DA7922E46721E801F8B81FE650_label_en-US" xlink:label="lab_us-gaap_StatementClassOfStockAxis_88E1F6DA7922E46721E801F8B81FE650" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Class of Stock [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="loc_us-gaap_StatementClassOfStockAxis_88E1F6DA7922E46721E801F8B81FE650" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementClassOfStockAxis_88E1F6DA7922E46721E801F8B81FE650" xlink:to="lab_us-gaap_StatementClassOfStockAxis_88E1F6DA7922E46721E801F8B81FE650" xlink:type="arc"/>
<link:label id="lab_us-gaap_ClassOfStockDomain_7D50B7FCA3541572668001F8B81FBE95_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain_7D50B7FCA3541572668001F8B81FBE95" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Class of Stock [Domain] </link:label>
<link:label id="lab_us-gaap_ClassOfStockDomain_7D50B7FCA3541572668001F8B81FBE95_label_en-US" xlink:label="lab_us-gaap_ClassOfStockDomain_7D50B7FCA3541572668001F8B81FBE95" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Class of Stock [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="loc_us-gaap_ClassOfStockDomain_7D50B7FCA3541572668001F8B81FBE95" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockDomain_7D50B7FCA3541572668001F8B81FBE95" xlink:to="lab_us-gaap_ClassOfStockDomain_7D50B7FCA3541572668001F8B81FBE95" xlink:type="arc"/>
<link:label id="lab_acc_TemporaryEquityRedeemableNoncontrollingInterestsMember_3CFF4649E3D1E69B19D401F8B8208DEF_terseLabel_en-US" xlink:label="lab_acc_TemporaryEquityRedeemableNoncontrollingInterestsMember_3CFF4649E3D1E69B19D401F8B8208DEF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Redeemable noncontrolling interests </link:label>
<link:label id="lab_acc_TemporaryEquityRedeemableNoncontrollingInterestsMember_3CFF4649E3D1E69B19D401F8B8208DEF_label_en-US" xlink:label="lab_acc_TemporaryEquityRedeemableNoncontrollingInterestsMember_3CFF4649E3D1E69B19D401F8B8208DEF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Temporary Equity Redeemable Noncontrolling Interests [Member] </link:label>
<link:label id="lab_acc_TemporaryEquityRedeemableNoncontrollingInterestsMember_3CFF4649E3D1E69B19D401F8B8208DEF_documentation_en-US" xlink:label="lab_acc_TemporaryEquityRedeemableNoncontrollingInterestsMember_3CFF4649E3D1E69B19D401F8B8208DEF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Redeemable Noncontrolling Interests Temporary Equity [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TemporaryEquityRedeemableNoncontrollingInterestsMember" xlink:label="loc_acc_TemporaryEquityRedeemableNoncontrollingInterestsMember_3CFF4649E3D1E69B19D401F8B8208DEF" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TemporaryEquityRedeemableNoncontrollingInterestsMember_3CFF4649E3D1E69B19D401F8B8208DEF" xlink:to="lab_acc_TemporaryEquityRedeemableNoncontrollingInterestsMember_3CFF4649E3D1E69B19D401F8B8208DEF" xlink:type="arc"/>
<link:label id="lab_us-gaap_StatementLineItems_96B4523A961BDB434A7801F8B820D890_terseLabel_en-US" xlink:label="lab_us-gaap_StatementLineItems_96B4523A961BDB434A7801F8B820D890" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Statement [Line Items] </link:label>
<link:label id="lab_us-gaap_StatementLineItems_96B4523A961BDB434A7801F8B820D890_label_en-US" xlink:label="lab_us-gaap_StatementLineItems_96B4523A961BDB434A7801F8B820D890" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementLineItems" xlink:label="loc_us-gaap_StatementLineItems_96B4523A961BDB434A7801F8B820D890" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementLineItems_96B4523A961BDB434A7801F8B820D890" xlink:to="lab_us-gaap_StatementLineItems_96B4523A961BDB434A7801F8B820D890" xlink:type="arc"/>
<link:label id="lab_us-gaap_RevenuesAbstract_8B100FB63DBFC90DB2C501F8B8200712_terseLabel_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_8B100FB63DBFC90DB2C501F8B8200712" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Revenues: </link:label>
<link:label id="lab_us-gaap_RevenuesAbstract_8B100FB63DBFC90DB2C501F8B8200712_label_en-US" xlink:label="lab_us-gaap_RevenuesAbstract_8B100FB63DBFC90DB2C501F8B8200712" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revenues [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RevenuesAbstract" xlink:label="loc_us-gaap_RevenuesAbstract_8B100FB63DBFC90DB2C501F8B8200712" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevenuesAbstract_8B100FB63DBFC90DB2C501F8B8200712" xlink:to="lab_us-gaap_RevenuesAbstract_8B100FB63DBFC90DB2C501F8B8200712" xlink:type="arc"/>
<link:label id="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_E1634A5A7DA4641F16A501F8B8201074_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_E1634A5A7DA4641F16A501F8B8201074" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating lease revenue </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingLeasesIncomeStatementLeaseRevenue" xlink:label="loc_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_E1634A5A7DA4641F16A501F8B8201074" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_E1634A5A7DA4641F16A501F8B8201074" xlink:to="lab_us-gaap_OperatingLeasesIncomeStatementLeaseRevenue_E1634A5A7DA4641F16A501F8B8201074" xlink:type="arc"/>
<link:label id="lab_us-gaap_HomeBuildingRevenue_DB0AC6AF07A33E06AC1901F8B8202BF3_terseLabel_en-US" xlink:label="lab_us-gaap_HomeBuildingRevenue_DB0AC6AF07A33E06AC1901F8B8202BF3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Third-party development services </link:label>
<link:label id="lab_us-gaap_HomeBuildingRevenue_DB0AC6AF07A33E06AC1901F8B8202BF3_label_en-US" xlink:label="lab_us-gaap_HomeBuildingRevenue_DB0AC6AF07A33E06AC1901F8B8202BF3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Home Building Revenue </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_HomeBuildingRevenue" xlink:label="loc_us-gaap_HomeBuildingRevenue_DB0AC6AF07A33E06AC1901F8B8202BF3" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_HomeBuildingRevenue_DB0AC6AF07A33E06AC1901F8B8202BF3" xlink:to="lab_us-gaap_HomeBuildingRevenue_DB0AC6AF07A33E06AC1901F8B8202BF3" xlink:type="arc"/>
<link:label id="lab_us-gaap_ManagementFeesRevenue_C12CD2164D9B8570DABA01F8B8206D27_positiveLabel_en-US" xlink:label="lab_us-gaap_ManagementFeesRevenue_C12CD2164D9B8570DABA01F8B8206D27" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US"> Third-party management services </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ManagementFeesRevenue" xlink:label="loc_us-gaap_ManagementFeesRevenue_C12CD2164D9B8570DABA01F8B8206D27" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ManagementFeesRevenue_C12CD2164D9B8570DABA01F8B8206D27" xlink:to="lab_us-gaap_ManagementFeesRevenue_C12CD2164D9B8570DABA01F8B8206D27" xlink:type="arc"/>
<link:label id="lab_us-gaap_OtherRealEstateRevenue_F73A6B9C1112E97E211901F8B8202359_terseLabel_en-US" xlink:label="lab_us-gaap_OtherRealEstateRevenue_F73A6B9C1112E97E211901F8B8202359" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Resident services </link:label>
<link:label id="lab_us-gaap_OtherRealEstateRevenue_F73A6B9C1112E97E211901F8B8202359_label_en-US" xlink:label="lab_us-gaap_OtherRealEstateRevenue_F73A6B9C1112E97E211901F8B8202359" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Real Estate Revenue </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherRealEstateRevenue" xlink:label="loc_us-gaap_OtherRealEstateRevenue_F73A6B9C1112E97E211901F8B8202359" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherRealEstateRevenue_F73A6B9C1112E97E211901F8B8202359" xlink:to="lab_us-gaap_OtherRealEstateRevenue_F73A6B9C1112E97E211901F8B8202359" xlink:type="arc"/>
<link:label id="lab_us-gaap_OperatingExpensesAbstract_EF24D6C124C7FA2CC23801F8B820D0C1_terseLabel_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract_EF24D6C124C7FA2CC23801F8B820D0C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating expenses: </link:label>
<link:label id="lab_us-gaap_OperatingExpensesAbstract_EF24D6C124C7FA2CC23801F8B820D0C1_label_en-US" xlink:label="lab_us-gaap_OperatingExpensesAbstract_EF24D6C124C7FA2CC23801F8B820D0C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Operating Expenses [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingExpensesAbstract" xlink:label="loc_us-gaap_OperatingExpensesAbstract_EF24D6C124C7FA2CC23801F8B820D0C1" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpensesAbstract_EF24D6C124C7FA2CC23801F8B820D0C1" xlink:to="lab_us-gaap_OperatingExpensesAbstract_EF24D6C124C7FA2CC23801F8B820D0C1" xlink:type="arc"/>
<link:label id="lab_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_D7994E3E07E59564FD1001F8B8209953_terseLabel_en-US" xlink:label="lab_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_D7994E3E07E59564FD1001F8B8209953" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Wholly-owned properties and On-campus participating properties </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense" xlink:label="loc_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_D7994E3E07E59564FD1001F8B8209953" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_D7994E3E07E59564FD1001F8B8209953" xlink:to="lab_acc_OperatingExpensesExcludingGeneralAdministrativeDepreciationAndLeaseExpense_D7994E3E07E59564FD1001F8B8209953" xlink:type="arc"/>
<link:label id="lab_acc_ConstructionAndDevelopmentCostsAndServiceManagementCosts_EB85A874F1762155EBCD01F8B821C927_terseLabel_en-US" xlink:label="lab_acc_ConstructionAndDevelopmentCostsAndServiceManagementCosts_EB85A874F1762155EBCD01F8B821C927" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Third-party development and management services </link:label>
<link:label id="lab_acc_ConstructionAndDevelopmentCostsAndServiceManagementCosts_EB85A874F1762155EBCD01F8B821C927_label_en-US" xlink:label="lab_acc_ConstructionAndDevelopmentCostsAndServiceManagementCosts_EB85A874F1762155EBCD01F8B821C927" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Construction and Development Costs and Service Management Costs </link:label>
<link:label id="lab_acc_ConstructionAndDevelopmentCostsAndServiceManagementCosts_EB85A874F1762155EBCD01F8B821C927_documentation_en-US" xlink:label="lab_acc_ConstructionAndDevelopmentCostsAndServiceManagementCosts_EB85A874F1762155EBCD01F8B821C927" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The aggregate costs related to construction and development services during the reporting period. Additionally, this element represents the aggregate costs related to delivering management services during the reporting period. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_ConstructionAndDevelopmentCostsAndServiceManagementCosts" xlink:label="loc_acc_ConstructionAndDevelopmentCostsAndServiceManagementCosts_EB85A874F1762155EBCD01F8B821C927" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_ConstructionAndDevelopmentCostsAndServiceManagementCosts_EB85A874F1762155EBCD01F8B821C927" xlink:to="lab_acc_ConstructionAndDevelopmentCostsAndServiceManagementCosts_EB85A874F1762155EBCD01F8B821C927" xlink:type="arc"/>
<link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_6321FE013F5F7CD8B92001F8B821F83B_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense_6321FE013F5F7CD8B92001F8B821F83B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> General and administrative </link:label>
<link:label id="lab_us-gaap_GeneralAndAdministrativeExpense_6321FE013F5F7CD8B92001F8B821F83B_label_en-US" xlink:label="lab_us-gaap_GeneralAndAdministrativeExpense_6321FE013F5F7CD8B92001F8B821F83B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> General and Administrative Expense </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense_6321FE013F5F7CD8B92001F8B821F83B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralAndAdministrativeExpense_6321FE013F5F7CD8B92001F8B821F83B" xlink:to="lab_us-gaap_GeneralAndAdministrativeExpense_6321FE013F5F7CD8B92001F8B821F83B" xlink:type="arc"/>
<link:label id="lab_us-gaap_DepreciationAndAmortization_979BBC489B998CBCB37701F8B8211953_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization_979BBC489B998CBCB37701F8B8211953" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Depreciation and amortization </link:label>
<link:label id="lab_us-gaap_DepreciationAndAmortization_979BBC489B998CBCB37701F8B8211953_label_en-US" xlink:label="lab_us-gaap_DepreciationAndAmortization_979BBC489B998CBCB37701F8B8211953" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Depreciation, Depletion and Amortization, Nonproduction </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:label="loc_us-gaap_DepreciationAndAmortization_979BBC489B998CBCB37701F8B8211953" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationAndAmortization_979BBC489B998CBCB37701F8B8211953" xlink:to="lab_us-gaap_DepreciationAndAmortization_979BBC489B998CBCB37701F8B8211953" xlink:type="arc"/>
<link:label id="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_E1E08CCADF443EA384D301F8B82187E5_terseLabel_en-US" xlink:label="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_E1E08CCADF443EA384D301F8B82187E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Ground/facility leases </link:label>
<link:label id="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_E1E08CCADF443EA384D301F8B82187E5_label_en-US" xlink:label="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_E1E08CCADF443EA384D301F8B82187E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Direct Costs of Leased and Rented Property or Equipment </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment" xlink:label="loc_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_E1E08CCADF443EA384D301F8B82187E5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_E1E08CCADF443EA384D301F8B82187E5" xlink:to="lab_us-gaap_DirectCostsOfLeasedAndRentedPropertyOrEquipment_E1E08CCADF443EA384D301F8B82187E5" xlink:type="arc"/>
<link:label id="lab_us-gaap_ImpairmentOfRealEstate_0CBC16F77844E84F739C01F8B821809B_terseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate_0CBC16F77844E84F739C01F8B821809B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Provision for real estate impairment </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ImpairmentOfRealEstate" xlink:label="loc_us-gaap_ImpairmentOfRealEstate_0CBC16F77844E84F739C01F8B821809B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ImpairmentOfRealEstate_0CBC16F77844E84F739C01F8B821809B" xlink:to="lab_us-gaap_ImpairmentOfRealEstate_0CBC16F77844E84F739C01F8B821809B" xlink:type="arc"/>
<link:label id="lab_us-gaap_OperatingExpenses_B6645F5C35A1F2116F0C01F8B821D9B4_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingExpenses_B6645F5C35A1F2116F0C01F8B821D9B4" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total operating expenses </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingExpenses" xlink:label="loc_us-gaap_OperatingExpenses_B6645F5C35A1F2116F0C01F8B821D9B4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingExpenses_B6645F5C35A1F2116F0C01F8B821D9B4" xlink:to="lab_us-gaap_OperatingExpenses_B6645F5C35A1F2116F0C01F8B821D9B4" xlink:type="arc"/>
<link:label id="lab_us-gaap_OperatingIncomeLoss_F6D5E63D04D82119BDF401F8B821A1F8_totalLabel_en-US" xlink:label="lab_us-gaap_OperatingIncomeLoss_F6D5E63D04D82119BDF401F8B821A1F8" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Operating income </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OperatingIncomeLoss" xlink:label="loc_us-gaap_OperatingIncomeLoss_F6D5E63D04D82119BDF401F8B821A1F8" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OperatingIncomeLoss_F6D5E63D04D82119BDF401F8B821A1F8" xlink:to="lab_us-gaap_OperatingIncomeLoss_F6D5E63D04D82119BDF401F8B821A1F8" xlink:type="arc"/>
<link:label id="lab_us-gaap_NonoperatingIncomeExpenseAbstract_D771D0D4D6101601496901F8B8219AB6_terseLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpenseAbstract_D771D0D4D6101601496901F8B8219AB6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Nonoperating income and (expenses): </link:label>
<link:label id="lab_us-gaap_NonoperatingIncomeExpenseAbstract_D771D0D4D6101601496901F8B8219AB6_label_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpenseAbstract_D771D0D4D6101601496901F8B8219AB6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Nonoperating Income (Expense) [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NonoperatingIncomeExpenseAbstract" xlink:label="loc_us-gaap_NonoperatingIncomeExpenseAbstract_D771D0D4D6101601496901F8B8219AB6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NonoperatingIncomeExpenseAbstract_D771D0D4D6101601496901F8B8219AB6" xlink:to="lab_us-gaap_NonoperatingIncomeExpenseAbstract_D771D0D4D6101601496901F8B8219AB6" xlink:type="arc"/>
<link:label id="lab_us-gaap_InvestmentIncomeInterest_458A1EC7190522DC994F01F8B8216A5C_terseLabel_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_458A1EC7190522DC994F01F8B8216A5C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest income </link:label>
<link:label id="lab_us-gaap_InvestmentIncomeInterest_458A1EC7190522DC994F01F8B8216A5C_label_en-US" xlink:label="lab_us-gaap_InvestmentIncomeInterest_458A1EC7190522DC994F01F8B8216A5C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Investment Income, Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InvestmentIncomeInterest" xlink:label="loc_us-gaap_InvestmentIncomeInterest_458A1EC7190522DC994F01F8B8216A5C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_InvestmentIncomeInterest_458A1EC7190522DC994F01F8B8216A5C" xlink:to="lab_us-gaap_InvestmentIncomeInterest_458A1EC7190522DC994F01F8B8216A5C" xlink:type="arc"/>
<link:label id="lab_us-gaap_AmortizationOfFinancingCosts_073E4AA785193C6C8D9201F8B82133BE_negatedLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts_073E4AA785193C6C8D9201F8B82133BE" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Amortization of deferred financing costs </link:label>
<link:label id="lab_us-gaap_AmortizationOfFinancingCosts_073E4AA785193C6C8D9201F8B82133BE_label_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCosts_073E4AA785193C6C8D9201F8B82133BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Amortization of Debt Issuance Costs </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AmortizationOfFinancingCosts" xlink:label="loc_us-gaap_AmortizationOfFinancingCosts_073E4AA785193C6C8D9201F8B82133BE" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AmortizationOfFinancingCosts_073E4AA785193C6C8D9201F8B82133BE" xlink:to="lab_us-gaap_AmortizationOfFinancingCosts_073E4AA785193C6C8D9201F8B82133BE" xlink:type="arc"/>
<link:label id="lab_acc_GainLossonDispositionofRealEstate_BFED9E93DEE4FBBFDCE101F8B82274BA_terseLabel_en-US" xlink:label="lab_acc_GainLossonDispositionofRealEstate_BFED9E93DEE4FBBFDCE101F8B82274BA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> (Loss) gain from disposition of real estate </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_GainLossonDispositionofRealEstate" xlink:label="loc_acc_GainLossonDispositionofRealEstate_BFED9E93DEE4FBBFDCE101F8B82274BA" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_GainLossonDispositionofRealEstate_BFED9E93DEE4FBBFDCE101F8B82274BA" xlink:to="lab_acc_GainLossonDispositionofRealEstate_BFED9E93DEE4FBBFDCE101F8B82274BA" xlink:type="arc"/>
<link:label id="lab_us-gaap_NonoperatingIncomeExpense_24CE6DC8A452A023D15D01F8B822FE9A_totalLabel_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense_24CE6DC8A452A023D15D01F8B822FE9A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total nonoperating expense </link:label>
<link:label id="lab_us-gaap_NonoperatingIncomeExpense_24CE6DC8A452A023D15D01F8B822FE9A_label_en-US" xlink:label="lab_us-gaap_NonoperatingIncomeExpense_24CE6DC8A452A023D15D01F8B822FE9A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Nonoperating Income (Expense) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_24CE6DC8A452A023D15D01F8B822FE9A" xlink:type="locator"/>
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<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_7326EAFA1F51106AC1D301F8B822AE0C_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_7326EAFA1F51106AC1D301F8B822AE0C" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> (Loss) income before income taxes </link:label>
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<link:label id="lab_acc_NetIncomeLossAvailabletoCommonUnitholders_5DD2EDFE8CB77E06CD5901F8B8226FB5_totalLabel_en-US" xlink:label="lab_acc_NetIncomeLossAvailabletoCommonUnitholders_5DD2EDFE8CB77E06CD5901F8B8226FB5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net (loss) income attributable to common unitholders </link:label>
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<link:label id="lab_us-gaap_EarningsPerLimitedPartnershipUnitAbstract_E164C7B93C8C9E78637F01F8B82397BC_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerLimitedPartnershipUnitAbstract_E164C7B93C8C9E78637F01F8B82397BC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net (loss) income per unit attributable to common unitholders </link:label>
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<link:label id="lab_us-gaap_BusinessAcquisitionAxis_6E7446289B59668B45495A282B0C5416_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis_6E7446289B59668B45495A282B0C5416" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Business Acquisition [Axis] </link:label>
<link:label id="lab_us-gaap_BusinessAcquisitionAxis_6E7446289B59668B45495A282B0C5416_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAxis_6E7446289B59668B45495A282B0C5416" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Acquisition [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessAcquisitionAxis" xlink:label="loc_us-gaap_BusinessAcquisitionAxis_6E7446289B59668B45495A282B0C5416" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAxis_6E7446289B59668B45495A282B0C5416" xlink:to="lab_us-gaap_BusinessAcquisitionAxis_6E7446289B59668B45495A282B0C5416" xlink:type="arc"/>
<link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_2215B80D9D7DD1DEFFA05A282B0CA739_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain_2215B80D9D7DD1DEFFA05A282B0CA739" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Business Acquisition, Acquiree [Domain] </link:label>
<link:label id="lab_us-gaap_BusinessAcquisitionAcquireeDomain_2215B80D9D7DD1DEFFA05A282B0CA739_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionAcquireeDomain_2215B80D9D7DD1DEFFA05A282B0CA739" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Acquisition, Acquiree [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessAcquisitionAcquireeDomain" xlink:label="loc_us-gaap_BusinessAcquisitionAcquireeDomain_2215B80D9D7DD1DEFFA05A282B0CA739" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionAcquireeDomain_2215B80D9D7DD1DEFFA05A282B0CA739" xlink:to="lab_us-gaap_BusinessAcquisitionAcquireeDomain_2215B80D9D7DD1DEFFA05A282B0CA739" xlink:type="arc"/>
<link:label id="lab_us-gaap_SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_F339E00FA4FA6294F4C65A282B0CA554_terseLabel_en-US" xlink:label="lab_us-gaap_SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_F339E00FA4FA6294F4C65A282B0CA554" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Series of Individually Immaterial Business Acquisitions </link:label>
<link:label id="lab_us-gaap_SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_F339E00FA4FA6294F4C65A282B0CA554_label_en-US" xlink:label="lab_us-gaap_SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_F339E00FA4FA6294F4C65A282B0CA554" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Series of Individually Immaterial Business Acquisitions [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember" xlink:label="loc_us-gaap_SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_F339E00FA4FA6294F4C65A282B0CA554" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_F339E00FA4FA6294F4C65A282B0CA554" xlink:to="lab_us-gaap_SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember_F339E00FA4FA6294F4C65A282B0CA554" xlink:type="arc"/>
<link:label id="lab_acc_InProcessDevelopmentPropertiesMember_7B1AE0E9CF4786AEA0B05A282B0CE40E_terseLabel_en-US" xlink:label="lab_acc_InProcessDevelopmentPropertiesMember_7B1AE0E9CF4786AEA0B05A282B0CE40E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> In-Process Development Properties </link:label>
<link:label id="lab_acc_InProcessDevelopmentPropertiesMember_7B1AE0E9CF4786AEA0B05A282B0CE40E_label_en-US" xlink:label="lab_acc_InProcessDevelopmentPropertiesMember_7B1AE0E9CF4786AEA0B05A282B0CE40E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> In-Process Development Properties [Member] </link:label>
<link:label id="lab_acc_InProcessDevelopmentPropertiesMember_7B1AE0E9CF4786AEA0B05A282B0CE40E_documentation_en-US" xlink:label="lab_acc_InProcessDevelopmentPropertiesMember_7B1AE0E9CF4786AEA0B05A282B0CE40E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> In-Process Development Properties [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_InProcessDevelopmentPropertiesMember" xlink:label="loc_acc_InProcessDevelopmentPropertiesMember_7B1AE0E9CF4786AEA0B05A282B0CE40E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_InProcessDevelopmentPropertiesMember_7B1AE0E9CF4786AEA0B05A282B0CE40E" xlink:to="lab_acc_InProcessDevelopmentPropertiesMember_7B1AE0E9CF4786AEA0B05A282B0CE40E" xlink:type="arc"/>
<link:label id="lab_us-gaap_WhollyOwnedPropertiesMember_0C0A04C6BDF4C5ECF2D15A282B0D181A_netLabel_en-US" xlink:label="lab_us-gaap_WhollyOwnedPropertiesMember_0C0A04C6BDF4C5ECF2D15A282B0D181A" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> Wholly-owned properties, net </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WhollyOwnedPropertiesMember" xlink:label="loc_us-gaap_WhollyOwnedPropertiesMember_0C0A04C6BDF4C5ECF2D15A282B0D181A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WhollyOwnedPropertiesMember_0C0A04C6BDF4C5ECF2D15A282B0D181A" xlink:to="lab_us-gaap_WhollyOwnedPropertiesMember_0C0A04C6BDF4C5ECF2D15A282B0D181A" xlink:type="arc"/>
<link:label id="lab_acc_OnCampusParticipatingPropertiesMember_79ED54E1866BE638C5CD5A282B0D1027_netLabel_en-US" xlink:label="lab_acc_OnCampusParticipatingPropertiesMember_79ED54E1866BE638C5CD5A282B0D1027" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:type="resource" xml:lang="en-US"> On-campus participating properties, net </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_OnCampusParticipatingPropertiesMember" xlink:label="loc_acc_OnCampusParticipatingPropertiesMember_79ED54E1866BE638C5CD5A282B0D1027" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_OnCampusParticipatingPropertiesMember_79ED54E1866BE638C5CD5A282B0D1027" xlink:to="lab_acc_OnCampusParticipatingPropertiesMember_79ED54E1866BE638C5CD5A282B0D1027" xlink:type="arc"/>
<link:label id="lab_us-gaap_LongtermDebtTypeAxis_8D5C4FD9A218820A734D5A282B0D2AF5_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis_8D5C4FD9A218820A734D5A282B0D2AF5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Axis] </link:label>
<link:label id="lab_us-gaap_LongtermDebtTypeAxis_8D5C4FD9A218820A734D5A282B0D2AF5_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeAxis_8D5C4FD9A218820A734D5A282B0D2AF5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongtermDebtTypeAxis" xlink:label="loc_us-gaap_LongtermDebtTypeAxis_8D5C4FD9A218820A734D5A282B0D2AF5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeAxis_8D5C4FD9A218820A734D5A282B0D2AF5" xlink:to="lab_us-gaap_LongtermDebtTypeAxis_8D5C4FD9A218820A734D5A282B0D2AF5" xlink:type="arc"/>
<link:label id="lab_us-gaap_LongtermDebtTypeDomain_A925D07867F741B649185A282B0DC16C_terseLabel_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain_A925D07867F741B649185A282B0DC16C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Domain] </link:label>
<link:label id="lab_us-gaap_LongtermDebtTypeDomain_A925D07867F741B649185A282B0DC16C_label_en-US" xlink:label="lab_us-gaap_LongtermDebtTypeDomain_A925D07867F741B649185A282B0DC16C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt, Type [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongtermDebtTypeDomain" xlink:label="loc_us-gaap_LongtermDebtTypeDomain_A925D07867F741B649185A282B0DC16C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongtermDebtTypeDomain_A925D07867F741B649185A282B0DC16C" xlink:to="lab_us-gaap_LongtermDebtTypeDomain_A925D07867F741B649185A282B0DC16C" xlink:type="arc"/>
<link:label id="lab_us-gaap_MortgagesMember_99A417487A94F8AFD5CA5A282B0D52F5_terseLabel_en-US" xlink:label="lab_us-gaap_MortgagesMember_99A417487A94F8AFD5CA5A282B0D52F5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Mortgage loans payable </link:label>
<link:label id="lab_us-gaap_MortgagesMember_99A417487A94F8AFD5CA5A282B0D52F5_label_en-US" xlink:label="lab_us-gaap_MortgagesMember_99A417487A94F8AFD5CA5A282B0D52F5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Mortgages [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MortgagesMember" xlink:label="loc_us-gaap_MortgagesMember_99A417487A94F8AFD5CA5A282B0D52F5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgagesMember_99A417487A94F8AFD5CA5A282B0D52F5" xlink:to="lab_us-gaap_MortgagesMember_99A417487A94F8AFD5CA5A282B0D52F5" xlink:type="arc"/>
<link:label id="lab_us-gaap_ConstructionLoanPayableMember_9D67ACC813D7A371E7295A282B0D09A5_terseLabel_en-US" xlink:label="lab_us-gaap_ConstructionLoanPayableMember_9D67ACC813D7A371E7295A282B0D09A5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Construction loans payable </link:label>
<link:label id="lab_us-gaap_ConstructionLoanPayableMember_9D67ACC813D7A371E7295A282B0D09A5_label_en-US" xlink:label="lab_us-gaap_ConstructionLoanPayableMember_9D67ACC813D7A371E7295A282B0D09A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Construction Loan Payable [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConstructionLoanPayableMember" xlink:label="loc_us-gaap_ConstructionLoanPayableMember_9D67ACC813D7A371E7295A282B0D09A5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConstructionLoanPayableMember_9D67ACC813D7A371E7295A282B0D09A5" xlink:to="lab_us-gaap_ConstructionLoanPayableMember_9D67ACC813D7A371E7295A282B0D09A5" xlink:type="arc"/>
<link:label id="lab_us-gaap_BondsMember_A60E965CC02091B39E795A282B0D0453_terseLabel_en-US" xlink:label="lab_us-gaap_BondsMember_A60E965CC02091B39E795A282B0D0453" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Bonds payable </link:label>
<link:label id="lab_us-gaap_BondsMember_A60E965CC02091B39E795A282B0D0453_label_en-US" xlink:label="lab_us-gaap_BondsMember_A60E965CC02091B39E795A282B0D0453" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Bonds [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BondsMember" xlink:label="loc_us-gaap_BondsMember_A60E965CC02091B39E795A282B0D0453" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BondsMember_A60E965CC02091B39E795A282B0D0453" xlink:to="lab_us-gaap_BondsMember_A60E965CC02091B39E795A282B0D0453" xlink:type="arc"/>
<link:label id="lab_us-gaap_UnsecuredDebtMember_9CB5A104513A6FDC5AFE5A282B0DE4A6_terseLabel_en-US" xlink:label="lab_us-gaap_UnsecuredDebtMember_9CB5A104513A6FDC5AFE5A282B0DE4A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unsecured Debt </link:label>
<link:label id="lab_us-gaap_UnsecuredDebtMember_9CB5A104513A6FDC5AFE5A282B0DE4A6_label_en-US" xlink:label="lab_us-gaap_UnsecuredDebtMember_9CB5A104513A6FDC5AFE5A282B0DE4A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unsecured Debt [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UnsecuredDebtMember" xlink:label="loc_us-gaap_UnsecuredDebtMember_9CB5A104513A6FDC5AFE5A282B0DE4A6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UnsecuredDebtMember_9CB5A104513A6FDC5AFE5A282B0DE4A6" xlink:to="lab_us-gaap_UnsecuredDebtMember_9CB5A104513A6FDC5AFE5A282B0DE4A6" xlink:type="arc"/>
<link:label id="lab_us-gaap_NotesPayableOtherPayablesMember_E4D275F62770146AD3755A282B0DB82C_terseLabel_en-US" xlink:label="lab_us-gaap_NotesPayableOtherPayablesMember_E4D275F62770146AD3755A282B0DB82C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Term loans </link:label>
<link:label id="lab_us-gaap_NotesPayableOtherPayablesMember_E4D275F62770146AD3755A282B0DB82C_label_en-US" xlink:label="lab_us-gaap_NotesPayableOtherPayablesMember_E4D275F62770146AD3755A282B0DB82C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Notes Payable, Other Payables [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NotesPayableOtherPayablesMember" xlink:label="loc_us-gaap_NotesPayableOtherPayablesMember_E4D275F62770146AD3755A282B0DB82C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesPayableOtherPayablesMember_E4D275F62770146AD3755A282B0DB82C" xlink:to="lab_us-gaap_NotesPayableOtherPayablesMember_E4D275F62770146AD3755A282B0DB82C" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentLineItems_A6D3970993E2233BCFFC5A282B0D6E59_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_A6D3970993E2233BCFFC5A282B0D6E59" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt Instrument [Line Items] </link:label>
<link:label id="lab_us-gaap_DebtInstrumentLineItems_A6D3970993E2233BCFFC5A282B0D6E59_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_A6D3970993E2233BCFFC5A282B0D6E59" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_A6D3970993E2233BCFFC5A282B0D6E59" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems_A6D3970993E2233BCFFC5A282B0D6E59" xlink:to="lab_us-gaap_DebtInstrumentLineItems_A6D3970993E2233BCFFC5A282B0D6E59" xlink:type="arc"/>
<link:label id="lab_us-gaap_SecuredDebt_90C1906A48EFDD978CD75A282B0DA41D_verboseLabel_en-US" xlink:label="lab_us-gaap_SecuredDebt_90C1906A48EFDD978CD75A282B0DA41D" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Secured mortgage, construction and bond debt, net </link:label>
<link:label id="lab_us-gaap_SecuredDebt_90C1906A48EFDD978CD75A282B0DA41D_label_en-US" xlink:label="lab_us-gaap_SecuredDebt_90C1906A48EFDD978CD75A282B0DA41D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Secured Debt </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SecuredDebt" xlink:label="loc_us-gaap_SecuredDebt_90C1906A48EFDD978CD75A282B0DA41D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SecuredDebt_90C1906A48EFDD978CD75A282B0DA41D" xlink:to="lab_us-gaap_SecuredDebt_90C1906A48EFDD978CD75A282B0DA41D" xlink:type="arc"/>
<link:label id="lab_us-gaap_DeferredFinanceCostsNet_CD312A4F5C97CBCE928C5A282B0D2091_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet_CD312A4F5C97CBCE928C5A282B0D2091" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unamortized deferred financing costs </link:label>
<link:label id="lab_us-gaap_DeferredFinanceCostsNet_CD312A4F5C97CBCE928C5A282B0D2091_label_en-US" xlink:label="lab_us-gaap_DeferredFinanceCostsNet_CD312A4F5C97CBCE928C5A282B0D2091" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Issuance Costs, Net </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="loc_us-gaap_DeferredFinanceCostsNet_CD312A4F5C97CBCE928C5A282B0D2091" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredFinanceCostsNet_CD312A4F5C97CBCE928C5A282B0D2091" xlink:to="lab_us-gaap_DeferredFinanceCostsNet_CD312A4F5C97CBCE928C5A282B0D2091" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentUnamortizedPremium_49121BBC6A5655F8F5D95A282B0D1618_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedPremium_49121BBC6A5655F8F5D95A282B0D1618" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Unamortized debt premiums </link:label>
<link:label id="lab_us-gaap_DebtInstrumentUnamortizedPremium_49121BBC6A5655F8F5D95A282B0D1618_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedPremium_49121BBC6A5655F8F5D95A282B0D1618" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Unamortized Premium </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentUnamortizedPremium" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedPremium_49121BBC6A5655F8F5D95A282B0D1618" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedPremium_49121BBC6A5655F8F5D95A282B0D1618" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedPremium_49121BBC6A5655F8F5D95A282B0D1618" xlink:type="arc"/>
<link:label id="lab_acc_UnsecuredNotes_367FE9A3FB6CB106D9525A282B0EB564_verboseLabel_en-US" xlink:label="lab_acc_UnsecuredNotes_367FE9A3FB6CB106D9525A282B0EB564" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Unsecured notes, net of unamortized OID and deferred financing costs </link:label>
<link:label id="lab_acc_UnsecuredNotes_367FE9A3FB6CB106D9525A282B0EB564_label_en-US" xlink:label="lab_acc_UnsecuredNotes_367FE9A3FB6CB106D9525A282B0EB564" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unsecured Notes </link:label>
<link:label id="lab_acc_UnsecuredNotes_367FE9A3FB6CB106D9525A282B0EB564_documentation_en-US" xlink:label="lab_acc_UnsecuredNotes_367FE9A3FB6CB106D9525A282B0EB564" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Including the current and noncurrent portions, carrying value as of the balance sheet date of unsecured notes. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_UnsecuredNotes" xlink:label="loc_acc_UnsecuredNotes_367FE9A3FB6CB106D9525A282B0EB564" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_UnsecuredNotes_367FE9A3FB6CB106D9525A282B0EB564" xlink:to="lab_acc_UnsecuredNotes_367FE9A3FB6CB106D9525A282B0EB564" xlink:type="arc"/>
<link:label id="lab_acc_UnsecuredRevolvingCreditFacility_F3613A06E8AEBB421C4E5A282B0E7DE2_terseLabel_en-US" xlink:label="lab_acc_UnsecuredRevolvingCreditFacility_F3613A06E8AEBB421C4E5A282B0E7DE2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unsecured revolving credit facility </link:label>
<link:label id="lab_acc_UnsecuredRevolvingCreditFacility_F3613A06E8AEBB421C4E5A282B0E7DE2_label_en-US" xlink:label="lab_acc_UnsecuredRevolvingCreditFacility_F3613A06E8AEBB421C4E5A282B0E7DE2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unsecured Revolving Credit Facility </link:label>
<link:label id="lab_acc_UnsecuredRevolvingCreditFacility_F3613A06E8AEBB421C4E5A282B0E7DE2_documentation_en-US" xlink:label="lab_acc_UnsecuredRevolvingCreditFacility_F3613A06E8AEBB421C4E5A282B0E7DE2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Including the current and noncurrent portions, carrying value as of the balance sheet date of unsecured revolving credit facility (with maturities initially due after one year or beyond the operating cycle if longer). </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_UnsecuredRevolvingCreditFacility" xlink:label="loc_acc_UnsecuredRevolvingCreditFacility_F3613A06E8AEBB421C4E5A282B0E7DE2" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_UnsecuredRevolvingCreditFacility_F3613A06E8AEBB421C4E5A282B0E7DE2" xlink:to="lab_acc_UnsecuredRevolvingCreditFacility_F3613A06E8AEBB421C4E5A282B0E7DE2" xlink:type="arc"/>
<link:label id="lab_us-gaap_LongTermDebt_D878066A11FBA9E72BB25A282B0E8A33_terseLabel_en-US" xlink:label="lab_us-gaap_LongTermDebt_D878066A11FBA9E72BB25A282B0E8A33" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total debt, net </link:label>
<link:label id="lab_us-gaap_LongTermDebt_D878066A11FBA9E72BB25A282B0E8A33_label_en-US" xlink:label="lab_us-gaap_LongTermDebt_D878066A11FBA9E72BB25A282B0E8A33" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Debt </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LongTermDebt" xlink:label="loc_us-gaap_LongTermDebt_D878066A11FBA9E72BB25A282B0E8A33" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LongTermDebt_D878066A11FBA9E72BB25A282B0E8A33" xlink:to="lab_us-gaap_LongTermDebt_D878066A11FBA9E72BB25A282B0E8A33" xlink:type="arc"/>
<link:label id="lab_us-gaap_NumberOfRealEstateProperties_7A6DE3BD1A6F86E79ED25A282B0E2851_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfRealEstateProperties_7A6DE3BD1A6F86E79ED25A282B0E2851" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of properties </link:label>
<link:label id="lab_us-gaap_NumberOfRealEstateProperties_7A6DE3BD1A6F86E79ED25A282B0E2851_label_en-US" xlink:label="lab_us-gaap_NumberOfRealEstateProperties_7A6DE3BD1A6F86E79ED25A282B0E2851" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of Real Estate Properties </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="loc_us-gaap_NumberOfRealEstateProperties_7A6DE3BD1A6F86E79ED25A282B0E2851" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfRealEstateProperties_7A6DE3BD1A6F86E79ED25A282B0E2851" xlink:to="lab_us-gaap_NumberOfRealEstateProperties_7A6DE3BD1A6F86E79ED25A282B0E2851" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_8FDA5A8DBC52EDD39A695A282B0EE4A8_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount_8FDA5A8DBC52EDD39A695A282B0EE4A8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unamortized debt discounts </link:label>
<link:label id="lab_us-gaap_DebtInstrumentUnamortizedDiscount_8FDA5A8DBC52EDD39A695A282B0EE4A8_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentUnamortizedDiscount_8FDA5A8DBC52EDD39A695A282B0EE4A8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Unamortized Discount </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentUnamortizedDiscount" xlink:label="loc_us-gaap_DebtInstrumentUnamortizedDiscount_8FDA5A8DBC52EDD39A695A282B0EE4A8" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentUnamortizedDiscount_8FDA5A8DBC52EDD39A695A282B0EE4A8" xlink:to="lab_us-gaap_DebtInstrumentUnamortizedDiscount_8FDA5A8DBC52EDD39A695A282B0EE4A8" xlink:type="arc"/>
<link:label id="lab_us-gaap_DerivativeTable_78E33FDF3B14E53907E284B8ED47B0A6_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeTable_98F5D3ECA78856CE92FDFFB60C75A751" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative [Table] </link:label>
<link:label id="lab_us-gaap_DerivativeTable_78E33FDF3B14E53907E284B8ED47B0A6_label_en-US" xlink:label="lab_us-gaap_DerivativeTable_98F5D3ECA78856CE92FDFFB60C75A751" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeTable" xlink:label="loc_us-gaap_DerivativeTable_98F5D3ECA78856CE92FDFFB60C75A751" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeTable_98F5D3ECA78856CE92FDFFB60C75A751" xlink:to="lab_us-gaap_DerivativeTable_98F5D3ECA78856CE92FDFFB60C75A751" xlink:type="arc"/>
<link:label id="lab_acc_InterestRateSwap1TwoPointTwoSevenFiveZeroMember_7A7CDB69EC9430A9B89984B8ED4C8F51_terseLabel_en-US" xlink:label="lab_acc_InterestRateSwap1TwoPointTwoSevenFiveZeroMember_4566143769A857FF907F9BF76EB262B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest Rate Swap One - 2.2750 Fixed Rate </link:label>
<link:label id="lab_acc_InterestRateSwap1TwoPointTwoSevenFiveZeroMember_7A7CDB69EC9430A9B89984B8ED4C8F51_label_en-US" xlink:label="lab_acc_InterestRateSwap1TwoPointTwoSevenFiveZeroMember_4566143769A857FF907F9BF76EB262B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Rate Swap 1 - Two Point Two Seven Five Zero [Member] </link:label>
<link:label id="lab_acc_InterestRateSwap1TwoPointTwoSevenFiveZeroMember_7A7CDB69EC9430A9B89984B8ED4C8F51_documentation_en-US" xlink:label="lab_acc_InterestRateSwap1TwoPointTwoSevenFiveZeroMember_4566143769A857FF907F9BF76EB262B5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Interest Rate Swap 1 - Two Point Two Seven Five Zero [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_InterestRateSwap1TwoPointTwoSevenFiveZeroMember" xlink:label="loc_acc_InterestRateSwap1TwoPointTwoSevenFiveZeroMember_4566143769A857FF907F9BF76EB262B5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_InterestRateSwap1TwoPointTwoSevenFiveZeroMember_4566143769A857FF907F9BF76EB262B5" xlink:to="lab_acc_InterestRateSwap1TwoPointTwoSevenFiveZeroMember_4566143769A857FF907F9BF76EB262B5" xlink:type="arc"/>
<link:label id="lab_acc_InterestRateSwap2TwoPointTwoSevenFiveZeroMember_4F3F5F552CE8200F1B1084B8ED4CF475_terseLabel_en-US" xlink:label="lab_acc_InterestRateSwap2TwoPointTwoSevenFiveZeroMember_0B66FF4BE7D653199115F0B832091F89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest Rate Swap Two - 2.2750 Fixed Rate </link:label>
<link:label id="lab_acc_InterestRateSwap2TwoPointTwoSevenFiveZeroMember_4F3F5F552CE8200F1B1084B8ED4CF475_label_en-US" xlink:label="lab_acc_InterestRateSwap2TwoPointTwoSevenFiveZeroMember_0B66FF4BE7D653199115F0B832091F89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Rate Swap 2 - Two Point Two Seven Five Zero [Member] </link:label>
<link:label id="lab_acc_InterestRateSwap2TwoPointTwoSevenFiveZeroMember_4F3F5F552CE8200F1B1084B8ED4CF475_documentation_en-US" xlink:label="lab_acc_InterestRateSwap2TwoPointTwoSevenFiveZeroMember_0B66FF4BE7D653199115F0B832091F89" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Interest Rate Swap 2 - Two Point Two Seven Five Zero [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_InterestRateSwap2TwoPointTwoSevenFiveZeroMember" xlink:label="loc_acc_InterestRateSwap2TwoPointTwoSevenFiveZeroMember_0B66FF4BE7D653199115F0B832091F89" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_InterestRateSwap2TwoPointTwoSevenFiveZeroMember_0B66FF4BE7D653199115F0B832091F89" xlink:to="lab_acc_InterestRateSwap2TwoPointTwoSevenFiveZeroMember_0B66FF4BE7D653199115F0B832091F89" xlink:type="arc"/>
<link:label id="lab_acc_InterestRateSwapOnePointFiveFourFivePercentFixedRateMember_068D433AEAF7F48FF14084B8ED4CBCAC_terseLabel_en-US" xlink:label="lab_acc_InterestRateSwapOnePointFiveFourFivePercentFixedRateMember_A4095A3BB05A518B9156A6241BB5958E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interest Rate Swap - 1.545% Fixed Rate </link:label>
<link:label id="lab_acc_InterestRateSwapOnePointFiveFourFivePercentFixedRateMember_068D433AEAF7F48FF14084B8ED4CBCAC_label_en-US" xlink:label="lab_acc_InterestRateSwapOnePointFiveFourFivePercentFixedRateMember_A4095A3BB05A518B9156A6241BB5958E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Rate Swap One Point Five Four Five Percent Fixed Rate [Member] </link:label>
<link:label id="lab_acc_InterestRateSwapOnePointFiveFourFivePercentFixedRateMember_068D433AEAF7F48FF14084B8ED4CBCAC_documentation_en-US" xlink:label="lab_acc_InterestRateSwapOnePointFiveFourFivePercentFixedRateMember_A4095A3BB05A518B9156A6241BB5958E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Interest Rate Swap One Point Five Four Five Percent Fixed Rate[Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_InterestRateSwapOnePointFiveFourFivePercentFixedRateMember" xlink:label="loc_acc_InterestRateSwapOnePointFiveFourFivePercentFixedRateMember_A4095A3BB05A518B9156A6241BB5958E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_InterestRateSwapOnePointFiveFourFivePercentFixedRateMember_A4095A3BB05A518B9156A6241BB5958E" xlink:to="lab_acc_InterestRateSwapOnePointFiveFourFivePercentFixedRateMember_A4095A3BB05A518B9156A6241BB5958E" xlink:type="arc"/>
<link:label id="lab_us-gaap_DerivativeLineItems_4FD60CA68FE70BCCCB0F84B8ED4DA062_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLineItems_58C8ABCE348E5B679285A8FF830EFFDB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative [Line Items] </link:label>
<link:label id="lab_us-gaap_DerivativeLineItems_4FD60CA68FE70BCCCB0F84B8ED4DA062_label_en-US" xlink:label="lab_us-gaap_DerivativeLineItems_58C8ABCE348E5B679285A8FF830EFFDB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeLineItems" xlink:label="loc_us-gaap_DerivativeLineItems_58C8ABCE348E5B679285A8FF830EFFDB" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLineItems_58C8ABCE348E5B679285A8FF830EFFDB" xlink:to="lab_us-gaap_DerivativeLineItems_58C8ABCE348E5B679285A8FF830EFFDB" xlink:type="arc"/>
<link:label id="lab_acc_DerivativeEffectiveDates_9EC35449653587FE9E9A84B8ED4D0A58_terseLabel_en-US" xlink:label="lab_acc_DerivativeEffectiveDates_3F9AD0B4DF94528E9F4C204A051D6F96" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Effective Date </link:label>
<link:label id="lab_acc_DerivativeEffectiveDates_9EC35449653587FE9E9A84B8ED4D0A58_label_en-US" xlink:label="lab_acc_DerivativeEffectiveDates_3F9AD0B4DF94528E9F4C204A051D6F96" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Effective Dates </link:label>
<link:label id="lab_acc_DerivativeEffectiveDates_9EC35449653587FE9E9A84B8ED4D0A58_documentation_en-US" xlink:label="lab_acc_DerivativeEffectiveDates_3F9AD0B4DF94528E9F4C204A051D6F96" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Effective date of the derivative contract, in CCYY-MM-DD format. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_DerivativeEffectiveDates" xlink:label="loc_acc_DerivativeEffectiveDates_3F9AD0B4DF94528E9F4C204A051D6F96" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_DerivativeEffectiveDates_3F9AD0B4DF94528E9F4C204A051D6F96" xlink:to="lab_acc_DerivativeEffectiveDates_3F9AD0B4DF94528E9F4C204A051D6F96" xlink:type="arc"/>
<link:label id="lab_us-gaap_DerivativeMaturityDates_A37F9437D313508B7E3C84B8ED4DC6FE_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeMaturityDates_174C51CF511C5D42A7D0ACF31AA7467F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maturity Date </link:label>
<link:label id="lab_us-gaap_DerivativeMaturityDates_A37F9437D313508B7E3C84B8ED4DC6FE_label_en-US" xlink:label="lab_us-gaap_DerivativeMaturityDates_174C51CF511C5D42A7D0ACF31AA7467F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative, Maturity Date </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeMaturityDates" xlink:label="loc_us-gaap_DerivativeMaturityDates_174C51CF511C5D42A7D0ACF31AA7467F" xlink:type="locator"/>
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<link:label id="lab_us-gaap_DerivativeFixedInterestRate_44F17B8A9B4D557558F584B8ED4D6837_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeFixedInterestRate_EE47539826545BBDAD7FD5C873A15D15" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Pay Fixed Rate (percent) </link:label>
<link:label id="lab_us-gaap_DerivativeFixedInterestRate_44F17B8A9B4D557558F584B8ED4D6837_label_en-US" xlink:label="lab_us-gaap_DerivativeFixedInterestRate_EE47539826545BBDAD7FD5C873A15D15" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative, Fixed Interest Rate </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeFixedInterestRate" xlink:label="loc_us-gaap_DerivativeFixedInterestRate_EE47539826545BBDAD7FD5C873A15D15" xlink:type="locator"/>
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<link:label id="lab_us-gaap_DerivativeDescriptionOfTerms_B8F6C8A049CB49D2F3B584B8ED4DDDDF_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeDescriptionOfTerms_8732AB574A5D5EBCBE4FE87942A075AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Receive Floating Rate Index </link:label>
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<link:label id="lab_invest_DerivativeNotionalAmount_78E0DD8B395530698A0684B8ED4D984F_terseLabel_en-US" xlink:label="lab_invest_DerivativeNotionalAmount_E2C5CDC0D9415441B0F2F82E0495FF15" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Current Notional Amount </link:label>
<link:label id="lab_invest_DerivativeNotionalAmount_78E0DD8B395530698A0684B8ED4D984F_label_en-US" xlink:label="lab_invest_DerivativeNotionalAmount_E2C5CDC0D9415441B0F2F82E0495FF15" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative, Notional Amount </link:label>
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<link:label id="lab_us-gaap_InterestRateDerivativesAtFairValueNet_44A6BA54B348CB6CA0B884B8ED4DC1BC_terseLabel_en-US" xlink:label="lab_us-gaap_InterestRateDerivativesAtFairValueNet_D4C66221814A55D99E51A4CD70BC6E39" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value </link:label>
<link:label id="lab_us-gaap_InterestRateDerivativesAtFairValueNet_44A6BA54B348CB6CA0B884B8ED4DC1BC_label_en-US" xlink:label="lab_us-gaap_InterestRateDerivativesAtFairValueNet_D4C66221814A55D99E51A4CD70BC6E39" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Rate Derivatives, at Fair Value, Net </link:label>
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<link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_4A844A044CDE4029828F84B8ED9FCA37_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_46EFD85121305E96A6C671549FB572D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Summary of restricted stock units and awards </link:label>
<link:label id="lab_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_4A844A044CDE4029828F84B8ED9FCA37_label_en-US" xlink:label="lab_us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock_46EFD85121305E96A6C671549FB572D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_Land_8B9F6DAF3A5F7E83ED665A282B578913_terseLabel_en-US" xlink:label="lab_us-gaap_Land_8B9F6DAF3A5F7E83ED665A282B578913" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Land </link:label>
<link:label id="lab_us-gaap_Land_8B9F6DAF3A5F7E83ED665A282B578913_label_en-US" xlink:label="lab_us-gaap_Land_8B9F6DAF3A5F7E83ED665A282B578913" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Land </link:label>
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<link:label id="lab_us-gaap_BuildingsAndImprovementsGross_BBFB0FE95C656FDF7D505A282B57F907_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingsAndImprovementsGross_BBFB0FE95C656FDF7D505A282B57F907" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Buildings and improvements </link:label>
<link:label id="lab_us-gaap_BuildingsAndImprovementsGross_BBFB0FE95C656FDF7D505A282B57F907_label_en-US" xlink:label="lab_us-gaap_BuildingsAndImprovementsGross_BBFB0FE95C656FDF7D505A282B57F907" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Buildings and Improvements, Gross </link:label>
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<link:label id="lab_us-gaap_FurnitureAndFixturesGross_F9D8C8A67C06B01D6CE95A282B57C8D7_terseLabel_en-US" xlink:label="lab_us-gaap_FurnitureAndFixturesGross_F9D8C8A67C06B01D6CE95A282B57C8D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Furniture, fixtures and equipment </link:label>
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<link:label id="lab_us-gaap_ConstructionInProgressGross_0C4B720A0BB21FB517445A282B571DA0_terseLabel_en-US" xlink:label="lab_us-gaap_ConstructionInProgressGross_0C4B720A0BB21FB517445A282B571DA0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Construction in progress </link:label>
<link:label id="lab_us-gaap_ConstructionInProgressGross_0C4B720A0BB21FB517445A282B571DA0_label_en-US" xlink:label="lab_us-gaap_ConstructionInProgressGross_0C4B720A0BB21FB517445A282B571DA0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Construction in Progress, Gross </link:label>
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<link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_BD96CF43096A21950CA05A282B58EB04_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost_BD96CF43096A21950CA05A282B58EB04" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Real estate properties gross </link:label>
<link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_BD96CF43096A21950CA05A282B58EB04_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost_BD96CF43096A21950CA05A282B58EB04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Investment Property, at Cost </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAtCost" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCost_BD96CF43096A21950CA05A282B58EB04" xlink:type="locator"/>
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<link:label id="lab_us-gaap_RealEstateOwnedAccumulatedDepreciation_29793789E309853C13A25A282B5DCF98_negatedLabel_en-US" xlink:label="lab_us-gaap_RealEstateOwnedAccumulatedDepreciation_29793789E309853C13A25A282B5DCF98" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Accumulated depreciation </link:label>
<link:label id="lab_us-gaap_RealEstateOwnedAccumulatedDepreciation_29793789E309853C13A25A282B5DCF98_label_en-US" xlink:label="lab_us-gaap_RealEstateOwnedAccumulatedDepreciation_29793789E309853C13A25A282B5DCF98" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Owned, Accumulated Depreciation </link:label>
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<link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_6BB957A44F9AE1546B315A282B5DFF68_totalLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet_6BB957A44F9AE1546B315A282B5DFF68" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Wholly-owned properties, net </link:label>
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<link:label id="lab_us-gaap_FairValueDisclosuresAbstract_5D33D23EBDC8D452CF7984B8ED10C728_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresAbstract_DA59ED6A83D05FE4BF827D65F9AB9FD3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosures [Abstract] </link:label>
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<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_D54B5AECA514C43BE35C84B8ED113A07_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable_A0CA45E37DFA5D3094F20EEFC98ABC18" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Assets and Liabilities Measured On Recurring and Nonrecurring Basis [Table] </link:label>
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<link:label id="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_ABFAA3746E71B10D9D1C84B8ED11DF77_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByFairValueHierarchyLevelAxis_D1E60F80D8895692A7A2D5337E6DA8C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value By Fair Value Hierarchy Level [Axis] </link:label>
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<link:label id="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_DCC898ED2C64F09DF07784B8ED16169B_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueMeasurementsFairValueHierarchyDomain_6B20E711E76159E18F8671A7B365B097" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Measurements Fair Value Hierarchy [Domain] </link:label>
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<link:label id="lab_us-gaap_FairValueInputsLevel1Member_5F87CB0E0B3F4D75923884B8ED167EE7_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member_D2E5B55B070D5DA1816F7CE2B603641E" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) </link:label>
<link:label id="lab_us-gaap_FairValueInputsLevel1Member_5F87CB0E0B3F4D75923884B8ED167EE7_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel1Member_D2E5B55B070D5DA1816F7CE2B603641E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Inputs, Level 1 [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:label="loc_us-gaap_FairValueInputsLevel1Member_D2E5B55B070D5DA1816F7CE2B603641E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel1Member_D2E5B55B070D5DA1816F7CE2B603641E" xlink:to="lab_us-gaap_FairValueInputsLevel1Member_D2E5B55B070D5DA1816F7CE2B603641E" xlink:type="arc"/>
<link:label id="lab_us-gaap_FairValueInputsLevel2Member_FE7EB51935AD0ADECB5984B8ED1652BF_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member_A71BA25663715674911AE9550337D1D0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Significant Other Observable Inputs (Level 2) </link:label>
<link:label id="lab_us-gaap_FairValueInputsLevel2Member_FE7EB51935AD0ADECB5984B8ED1652BF_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel2Member_A71BA25663715674911AE9550337D1D0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Inputs, Level 2 [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:label="loc_us-gaap_FairValueInputsLevel2Member_A71BA25663715674911AE9550337D1D0" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel2Member_A71BA25663715674911AE9550337D1D0" xlink:to="lab_us-gaap_FairValueInputsLevel2Member_A71BA25663715674911AE9550337D1D0" xlink:type="arc"/>
<link:label id="lab_us-gaap_FairValueInputsLevel3Member_1251587416BCBD8F489584B8ED1608E6_verboseLabel_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member_8E3890FE0495582F8E29A864FCA2442F" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Significant Unobservable Inputs (Level 3) </link:label>
<link:label id="lab_us-gaap_FairValueInputsLevel3Member_1251587416BCBD8F489584B8ED1608E6_label_en-US" xlink:label="lab_us-gaap_FairValueInputsLevel3Member_8E3890FE0495582F8E29A864FCA2442F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Inputs, Level 3 [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:label="loc_us-gaap_FairValueInputsLevel3Member_8E3890FE0495582F8E29A864FCA2442F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueInputsLevel3Member_8E3890FE0495582F8E29A864FCA2442F" xlink:to="lab_us-gaap_FairValueInputsLevel3Member_8E3890FE0495582F8E29A864FCA2442F" xlink:type="arc"/>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_C67B8380B41A1126C02D84B8ED1617D9_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_A97A6312BE2F50149558572B8022C99D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] </link:label>
<link:label id="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_C67B8380B41A1126C02D84B8ED1617D9_label_en-US" xlink:label="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_A97A6312BE2F50149558572B8022C99D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:label="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_A97A6312BE2F50149558572B8022C99D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_A97A6312BE2F50149558572B8022C99D" xlink:to="lab_us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems_A97A6312BE2F50149558572B8022C99D" xlink:type="arc"/>
<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_0D7D807F35FD11B49B2284B8ED16DDAD_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_9B9752B35D02533F933EE338F794363D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities: </link:label>
<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_0D7D807F35FD11B49B2284B8ED16DDAD_label_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_9B9752B35D02533F933EE338F794363D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities, Fair Value Disclosure [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract_9B9752B35D02533F933EE338F794363D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract_9B9752B35D02533F933EE338F794363D" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_9B9752B35D02533F933EE338F794363D" xlink:type="arc"/>
<link:label id="lab_us-gaap_DerivativeLiabilities_AD3EBF2F9005B77CAFF784B8ED16D2DA_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_32D6D540DBE757AB84A48AD36399CFC6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivative financial instruments </link:label>
<link:label id="lab_us-gaap_DerivativeLiabilities_AD3EBF2F9005B77CAFF784B8ED16D2DA_label_en-US" xlink:label="lab_us-gaap_DerivativeLiabilities_32D6D540DBE757AB84A48AD36399CFC6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Liability </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeLiabilities" xlink:label="loc_us-gaap_DerivativeLiabilities_32D6D540DBE757AB84A48AD36399CFC6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeLiabilities_32D6D540DBE757AB84A48AD36399CFC6" xlink:to="lab_us-gaap_DerivativeLiabilities_32D6D540DBE757AB84A48AD36399CFC6" xlink:type="arc"/>
<link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityFairValueAbstract_782E7FC25F4E7C3E4B2684B8ED16F0B0_terseLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityFairValueAbstract_2D82F91C81325776A7AA183E2388620D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Mezzanine: </link:label>
<link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityFairValueAbstract_782E7FC25F4E7C3E4B2684B8ED16F0B0_label_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityFairValueAbstract_2D82F91C81325776A7AA183E2388620D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Redeemable Noncontrolling Interest, Equity, Fair Value [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RedeemableNoncontrollingInterestEquityFairValueAbstract" xlink:label="loc_us-gaap_RedeemableNoncontrollingInterestEquityFairValueAbstract_2D82F91C81325776A7AA183E2388620D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RedeemableNoncontrollingInterestEquityFairValueAbstract_2D82F91C81325776A7AA183E2388620D" xlink:to="lab_us-gaap_RedeemableNoncontrollingInterestEquityFairValueAbstract_2D82F91C81325776A7AA183E2388620D" xlink:type="arc"/>
<link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityFairValue_E6F841A9F06CC85BF1DA84B8ED16B62F_terseLabel_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityFairValue_F7D5419A5E7559789AF01CAFEFF8CD93" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Redeemable noncontrolling interests (Company)/Redeemable limited partners (Operating Partnership) </link:label>
<link:label id="lab_us-gaap_RedeemableNoncontrollingInterestEquityFairValue_E6F841A9F06CC85BF1DA84B8ED16B62F_label_en-US" xlink:label="lab_us-gaap_RedeemableNoncontrollingInterestEquityFairValue_F7D5419A5E7559789AF01CAFEFF8CD93" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Redeemable Noncontrolling Interest, Equity, Fair Value </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RedeemableNoncontrollingInterestEquityFairValue" xlink:label="loc_us-gaap_RedeemableNoncontrollingInterestEquityFairValue_F7D5419A5E7559789AF01CAFEFF8CD93" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RedeemableNoncontrollingInterestEquityFairValue_F7D5419A5E7559789AF01CAFEFF8CD93" xlink:to="lab_us-gaap_RedeemableNoncontrollingInterestEquityFairValue_F7D5419A5E7559789AF01CAFEFF8CD93" xlink:type="arc"/>
<link:label id="lab_us-gaap_AccountingPoliciesAbstract_C30FF0156668C92F39F684B8EED378DA_label_en-US" xlink:label="lab_us-gaap_AccountingPoliciesAbstract_FB3672CF007D587B8173C14E7BAED931" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accounting Policies [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountingPoliciesAbstract" xlink:label="loc_us-gaap_AccountingPoliciesAbstract_FB3672CF007D587B8173C14E7BAED931" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountingPoliciesAbstract_FB3672CF007D587B8173C14E7BAED931" xlink:to="lab_us-gaap_AccountingPoliciesAbstract_FB3672CF007D587B8173C14E7BAED931" xlink:type="arc"/>
<link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_73EA3605448C97FE174084B8EED3C889_terseLabel_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock_1F35C34F49465387B31C36BA0A17C0D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Summary of Significant Accounting Policies </link:label>
<link:label id="lab_us-gaap_SignificantAccountingPoliciesTextBlock_73EA3605448C97FE174084B8EED3C889_label_en-US" xlink:label="lab_us-gaap_SignificantAccountingPoliciesTextBlock_1F35C34F49465387B31C36BA0A17C0D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Significant Accounting Policies [Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SignificantAccountingPoliciesTextBlock" xlink:label="loc_us-gaap_SignificantAccountingPoliciesTextBlock_1F35C34F49465387B31C36BA0A17C0D2" xlink:type="locator"/>
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<link:label id="lab_us-gaap_StatementOfCashFlowsAbstract_4B66298122D6AE2DA4C57D6869A51587_label_en-US" xlink:label="lab_us-gaap_StatementOfCashFlowsAbstract_4B66298122D6AE2DA4C57D6869A51587" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement of Cash Flows [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:label="loc_us-gaap_StatementOfCashFlowsAbstract_4B66298122D6AE2DA4C57D6869A51587" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfCashFlowsAbstract_4B66298122D6AE2DA4C57D6869A51587" xlink:to="lab_us-gaap_StatementOfCashFlowsAbstract_4B66298122D6AE2DA4C57D6869A51587" xlink:type="arc"/>
<link:label id="lab_acc_CommonandPreferredUnitsMember_F26B624ADAB80D4D7B387D6869B4FDDC_verboseLabel_en-US" xlink:label="lab_acc_CommonandPreferredUnitsMember_F26B624ADAB80D4D7B387D6869B4FDDC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Common and preferred units </link:label>
<link:label id="lab_acc_CommonandPreferredUnitsMember_F26B624ADAB80D4D7B387D6869B4FDDC_label_en-US" xlink:label="lab_acc_CommonandPreferredUnitsMember_F26B624ADAB80D4D7B387D6869B4FDDC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common and Preferred Units [Member] </link:label>
<link:label id="lab_acc_CommonandPreferredUnitsMember_F26B624ADAB80D4D7B387D6869B4FDDC_documentation_en-US" xlink:label="lab_acc_CommonandPreferredUnitsMember_F26B624ADAB80D4D7B387D6869B4FDDC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Common and Preferred Units [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_CommonandPreferredUnitsMember" xlink:label="loc_acc_CommonandPreferredUnitsMember_F26B624ADAB80D4D7B387D6869B4FDDC" xlink:type="locator"/>
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<link:label id="lab_acc_UnvestedRestrictedStockAwardsMember_03E562162DFE506B669A7D6869B4E938_terseLabel_en-US" xlink:label="lab_acc_UnvestedRestrictedStockAwardsMember_03E562162DFE506B669A7D6869B4E938" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unvested restricted awards </link:label>
<link:label id="lab_acc_UnvestedRestrictedStockAwardsMember_03E562162DFE506B669A7D6869B4E938_label_en-US" xlink:label="lab_acc_UnvestedRestrictedStockAwardsMember_03E562162DFE506B669A7D6869B4E938" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unvested Restricted Stock Awards [Member] </link:label>
<link:label id="lab_acc_UnvestedRestrictedStockAwardsMember_03E562162DFE506B669A7D6869B4E938_documentation_en-US" xlink:label="lab_acc_UnvestedRestrictedStockAwardsMember_03E562162DFE506B669A7D6869B4E938" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Unvested Restricted Awards [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_UnvestedRestrictedStockAwardsMember" xlink:label="loc_acc_UnvestedRestrictedStockAwardsMember_03E562162DFE506B669A7D6869B4E938" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PartiallyOwnedPropertiesMember_0B6FC1B42D65B0AD0ABA7D6869B4C6DC_verboseLabel_en-US" xlink:label="lab_us-gaap_PartiallyOwnedPropertiesMember_0B6FC1B42D65B0AD0ABA7D6869B4C6DC" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Partially owned properties </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartiallyOwnedPropertiesMember" xlink:label="loc_us-gaap_PartiallyOwnedPropertiesMember_0B6FC1B42D65B0AD0ABA7D6869B4C6DC" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartiallyOwnedPropertiesMember_0B6FC1B42D65B0AD0ABA7D6869B4C6DC" xlink:to="lab_us-gaap_PartiallyOwnedPropertiesMember_0B6FC1B42D65B0AD0ABA7D6869B4C6DC" xlink:type="arc"/>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_49C064D647A75ADFA0257D6869B4782C_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_49C064D647A75ADFA0257D6869B4782C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Operating activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_49C064D647A75ADFA0257D6869B4782C_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_49C064D647A75ADFA0257D6869B4782C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Operating Activities [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_49C064D647A75ADFA0257D6869B4782C" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ProfitLoss_F83EC74E34739FB584EB7D6869B47AD4_terseLabel_en-US" xlink:label="lab_us-gaap_ProfitLoss_F83EC74E34739FB584EB7D6869B47AD4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net income </link:label>
<link:label id="lab_us-gaap_ProfitLoss_F83EC74E34739FB584EB7D6869B47AD4_label_en-US" xlink:label="lab_us-gaap_ProfitLoss_F83EC74E34739FB584EB7D6869B47AD4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Income (Loss), Including Portion Attributable to Noncontrolling Interest </link:label>
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<link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_56CFC66CF4AF5CE42E607D6869B41589_verboseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_56CFC66CF4AF5CE42E607D6869B41589" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Adjustments to reconcile net income to net cash provided by operating activities: </link:label>
<link:label id="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_56CFC66CF4AF5CE42E607D6869B41589_label_en-US" xlink:label="lab_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_56CFC66CF4AF5CE42E607D6869B41589" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:label="loc_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_56CFC66CF4AF5CE42E607D6869B41589" xlink:type="locator"/>
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<link:label id="lab_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations_297536913C333466E9F37D6869B42785_negatedLabel_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations_297536913C333466E9F37D6869B42785" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Loss (gain) from disposition of real estate </link:label>
<link:label id="lab_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations_297536913C333466E9F37D6869B42785_label_en-US" xlink:label="lab_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations_297536913C333466E9F37D6869B42785" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Gain (Loss) on Disposition of Real Estate, Discontinued Operations </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations" xlink:label="loc_us-gaap_GainLossOnDispositionOfRealEstateDiscontinuedOperations_297536913C333466E9F37D6869B42785" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ImpairmentOfRealEstate_061CD2628F9515B31C067D6869B41226_verboseLabel_en-US" xlink:label="lab_us-gaap_ImpairmentOfRealEstate_061CD2628F9515B31C067D6869B41226" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Provision for real estate impairment </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ImpairmentOfRealEstate" xlink:label="loc_us-gaap_ImpairmentOfRealEstate_061CD2628F9515B31C067D6869B41226" xlink:type="locator"/>
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<link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_F40C1397E5337694CFFB7D6869B47042_terseLabel_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization_F40C1397E5337694CFFB7D6869B47042" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Depreciation and amortization </link:label>
<link:label id="lab_us-gaap_DepreciationDepletionAndAmortization_F40C1397E5337694CFFB7D6869B47042_label_en-US" xlink:label="lab_us-gaap_DepreciationDepletionAndAmortization_F40C1397E5337694CFFB7D6869B47042" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Depreciation, Depletion and Amortization </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_F40C1397E5337694CFFB7D6869B47042" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DepreciationDepletionAndAmortization_F40C1397E5337694CFFB7D6869B47042" xlink:to="lab_us-gaap_DepreciationDepletionAndAmortization_F40C1397E5337694CFFB7D6869B47042" xlink:type="arc"/>
<link:label id="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_A5BB1E2383FE86DC67D87D6869B40610_terseLabel_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_A5BB1E2383FE86DC67D87D6869B40610" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortization of deferred financing costs and debt premiums/discounts </link:label>
<link:label id="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_A5BB1E2383FE86DC67D87D6869B40610_label_en-US" xlink:label="lab_us-gaap_AmortizationOfFinancingCostsAndDiscounts_A5BB1E2383FE86DC67D87D6869B40610" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Amortization of Debt Issuance Costs and Discounts </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AmortizationOfFinancingCostsAndDiscounts" xlink:label="loc_us-gaap_AmortizationOfFinancingCostsAndDiscounts_A5BB1E2383FE86DC67D87D6869B40610" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ShareBasedCompensation_E89F4782AC1516B858E17D6869B4642F_terseLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_E89F4782AC1516B858E17D6869B4642F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Share-based compensation </link:label>
<link:label id="lab_us-gaap_ShareBasedCompensation_E89F4782AC1516B858E17D6869B4642F_label_en-US" xlink:label="lab_us-gaap_ShareBasedCompensation_E89F4782AC1516B858E17D6869B4642F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share-based Compensation </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ShareBasedCompensation" xlink:label="loc_us-gaap_ShareBasedCompensation_E89F4782AC1516B858E17D6869B4642F" xlink:type="locator"/>
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<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_2475490656D1594D73967D6869B4C51C_terseLabel_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_2475490656D1594D73967D6869B4C51C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income tax provision </link:label>
<link:label id="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_2475490656D1594D73967D6869B4C51C_label_en-US" xlink:label="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_2475490656D1594D73967D6869B4C51C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Deferred Income Tax Expense (Benefit) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:label="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_2475490656D1594D73967D6869B4C51C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DeferredIncomeTaxExpenseBenefit_2475490656D1594D73967D6869B4C51C" xlink:to="lab_us-gaap_DeferredIncomeTaxExpenseBenefit_2475490656D1594D73967D6869B4C51C" xlink:type="arc"/>
<link:label id="lab_acc_AmortizationofInterestRateSwapTerminationsandOther_374755072C64B6A986467D6869B4E1A7_terseLabel_en-US" xlink:label="lab_acc_AmortizationofInterestRateSwapTerminationsandOther_374755072C64B6A986467D6869B4E1A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortization of interest rate swap terminations and other </link:label>
<link:label id="lab_acc_AmortizationofInterestRateSwapTerminationsandOther_374755072C64B6A986467D6869B4E1A7_label_en-US" xlink:label="lab_acc_AmortizationofInterestRateSwapTerminationsandOther_374755072C64B6A986467D6869B4E1A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Amortization of Interest Rate Swap Terminations and Other </link:label>
<link:label id="lab_acc_AmortizationofInterestRateSwapTerminationsandOther_374755072C64B6A986467D6869B4E1A7_documentation_en-US" xlink:label="lab_acc_AmortizationofInterestRateSwapTerminationsandOther_374755072C64B6A986467D6869B4E1A7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amortization of Interest Rate Swap Terminations and Other </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_AmortizationofInterestRateSwapTerminationsandOther" xlink:label="loc_acc_AmortizationofInterestRateSwapTerminationsandOther_374755072C64B6A986467D6869B4E1A7" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_AmortizationofInterestRateSwapTerminationsandOther_374755072C64B6A986467D6869B4E1A7" xlink:to="lab_acc_AmortizationofInterestRateSwapTerminationsandOther_374755072C64B6A986467D6869B4E1A7" xlink:type="arc"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_185E15EA975BA30067027D6869B43A4C_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_185E15EA975BA30067027D6869B43A4C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Changes in operating assets and liabilities: </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_185E15EA975BA30067027D6869B43A4C_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_185E15EA975BA30067027D6869B43A4C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Operating Capital [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:label="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_185E15EA975BA30067027D6869B43A4C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_185E15EA975BA30067027D6869B43A4C" xlink:to="lab_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_185E15EA975BA30067027D6869B43A4C" xlink:type="arc"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities_E493C9E0DBF06B01F1AD7D6869B4632B_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities_E493C9E0DBF06B01F1AD7D6869B4632B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Restricted cash </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities_E493C9E0DBF06B01F1AD7D6869B4632B_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities_E493C9E0DBF06B01F1AD7D6869B4632B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Restricted Cash for Operating Activities </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities" xlink:label="loc_us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities_E493C9E0DBF06B01F1AD7D6869B4632B" xlink:type="locator"/>
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<link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_CA218EB6215551F4CAED7D6869B4642C_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_CA218EB6215551F4CAED7D6869B4642C" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Student contracts receivable, net </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_CA218EB6215551F4CAED7D6869B4642C_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsReceivable_CA218EB6215551F4CAED7D6869B4642C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Accounts Receivable </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_CA218EB6215551F4CAED7D6869B4642C" xlink:type="locator"/>
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<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_94CDDE2D5822E7FF0A4E7D6869B46429_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_94CDDE2D5822E7FF0A4E7D6869B46429" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Other assets </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_94CDDE2D5822E7FF0A4E7D6869B46429_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingAssets_94CDDE2D5822E7FF0A4E7D6869B46429" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Other Operating Assets </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_94CDDE2D5822E7FF0A4E7D6869B46429" xlink:type="locator"/>
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<link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_2938A1A4BA8B43D65D257D6869B43212_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_2938A1A4BA8B43D65D257D6869B43212" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accounts payable and accrued expenses </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_2938A1A4BA8B43D65D257D6869B43212_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_2938A1A4BA8B43D65D257D6869B43212" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Accounts Payable and Accrued Liabilities </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_2938A1A4BA8B43D65D257D6869B43212" xlink:type="locator"/>
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<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_931B98F7F81063E9232E7D6869B47924_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_931B98F7F81063E9232E7D6869B47924" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other liabilities </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_931B98F7F81063E9232E7D6869B47924_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_931B98F7F81063E9232E7D6869B47924" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Other Operating Liabilities </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingLiabilities" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingLiabilities_931B98F7F81063E9232E7D6869B47924" xlink:type="locator"/>
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<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_D3B92BDD7DE41424D4227D6869B47BE2_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_D3B92BDD7DE41424D4227D6869B47BE2" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net cash provided by operating activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_D3B92BDD7DE41424D4227D6869B47BE2_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInOperatingActivities_D3B92BDD7DE41424D4227D6869B47BE2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Operating Activities </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_D3B92BDD7DE41424D4227D6869B47BE2" xlink:type="locator"/>
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<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_4A78C2ABC79BA0F51FEB7D6869B4D4D6_terseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_4A78C2ABC79BA0F51FEB7D6869B4D4D6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investing activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_4A78C2ABC79BA0F51FEB7D6869B4D4D6_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_4A78C2ABC79BA0F51FEB7D6869B4D4D6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Investing Activities [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_4A78C2ABC79BA0F51FEB7D6869B4D4D6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_4A78C2ABC79BA0F51FEB7D6869B4D4D6" xlink:to="lab_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_4A78C2ABC79BA0F51FEB7D6869B4D4D6" xlink:type="arc"/>
<link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_194876C030595E4E49ED7D6869B45CF3_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_194876C030595E4E49ED7D6869B45CF3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from disposition of properties </link:label>
<link:label id="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_194876C030595E4E49ED7D6869B45CF3_label_en-US" xlink:label="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_194876C030595E4E49ED7D6869B45CF3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Sale of Real Estate Held-for-investment </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:label="loc_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_194876C030595E4E49ED7D6869B45CF3" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_194876C030595E4E49ED7D6869B45CF3" xlink:to="lab_us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_194876C030595E4E49ED7D6869B45CF3" xlink:type="arc"/>
<link:label id="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_17C5AEA4E1729FEA63B97D6869B4BCFB_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_17C5AEA4E1729FEA63B97D6869B4BCFB" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Cash paid for acquisition of operating and under development properties </link:label>
<link:label id="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_17C5AEA4E1729FEA63B97D6869B4BCFB_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_17C5AEA4E1729FEA63B97D6869B4BCFB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Real Estate Held-for-investment </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:label="loc_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_17C5AEA4E1729FEA63B97D6869B4BCFB" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_17C5AEA4E1729FEA63B97D6869B4BCFB" xlink:to="lab_us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_17C5AEA4E1729FEA63B97D6869B4BCFB" xlink:type="arc"/>
<link:label id="lab_us-gaap_PaymentsToAcquireLand_B96BAD8295EE149C352A7D6869B4E2B9_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLand_B96BAD8295EE149C352A7D6869B4E2B9" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Cash paid for land acquisitions </link:label>
<link:label id="lab_us-gaap_PaymentsToAcquireLand_B96BAD8295EE149C352A7D6869B4E2B9_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLand_B96BAD8295EE149C352A7D6869B4E2B9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Land </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireLand" xlink:label="loc_us-gaap_PaymentsToAcquireLand_B96BAD8295EE149C352A7D6869B4E2B9" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PaymentsToAcquireProductiveAssets_548F3EC4F1A5367CCCA17D6869B4D457_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireProductiveAssets_548F3EC4F1A5367CCCA17D6869B4D457" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Capital expenditures for wholly-owned properties/on-campus participating properties </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="loc_us-gaap_PaymentsToAcquireProductiveAssets_548F3EC4F1A5367CCCA17D6869B4D457" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireProductiveAssets_548F3EC4F1A5367CCCA17D6869B4D457" xlink:to="lab_us-gaap_PaymentsToAcquireProductiveAssets_548F3EC4F1A5367CCCA17D6869B4D457" xlink:type="arc"/>
<link:label id="lab_us-gaap_PaymentsForCapitalImprovements_C32139D36AB4867A01E57D6869B445C1_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForCapitalImprovements_C32139D36AB4867A01E57D6869B445C1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Investments in wholly-owned properties under development </link:label>
<link:label id="lab_us-gaap_PaymentsForCapitalImprovements_C32139D36AB4867A01E57D6869B445C1_label_en-US" xlink:label="lab_us-gaap_PaymentsForCapitalImprovements_C32139D36AB4867A01E57D6869B445C1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments for Capital Improvements </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsForCapitalImprovements" xlink:label="loc_us-gaap_PaymentsForCapitalImprovements_C32139D36AB4867A01E57D6869B445C1" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PaymentsToAcquireLeasesHeldForInvestment_66817458C37CD8C50CC87D6869B48B8A_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLeasesHeldForInvestment_66817458C37CD8C50CC87D6869B48B8A" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Investment in direct financing lease </link:label>
<link:label id="lab_us-gaap_PaymentsToAcquireLeasesHeldForInvestment_66817458C37CD8C50CC87D6869B48B8A_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireLeasesHeldForInvestment_66817458C37CD8C50CC87D6869B48B8A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Leases Held-for-investment </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquireLeasesHeldForInvestment" xlink:label="loc_us-gaap_PaymentsToAcquireLeasesHeldForInvestment_66817458C37CD8C50CC87D6869B48B8A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsToAcquireLeasesHeldForInvestment_66817458C37CD8C50CC87D6869B48B8A" xlink:to="lab_us-gaap_PaymentsToAcquireLeasesHeldForInvestment_66817458C37CD8C50CC87D6869B48B8A" xlink:type="arc"/>
<link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6FBC74301519C6C5682A7D6869B4CB3F_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6FBC74301519C6C5682A7D6869B4CB3F" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Change in escrow deposits for real estate investments </link:label>
<link:label id="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6FBC74301519C6C5682A7D6869B4CB3F_label_en-US" xlink:label="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6FBC74301519C6C5682A7D6869B4CB3F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments for (Proceeds from) Other Investing Activities </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:label="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6FBC74301519C6C5682A7D6869B4CB3F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6FBC74301519C6C5682A7D6869B4CB3F" xlink:to="lab_us-gaap_PaymentsForProceedsFromOtherInvestingActivities_6FBC74301519C6C5682A7D6869B4CB3F" xlink:type="arc"/>
<link:label id="lab_us-gaap_IncreaseDecreaseInRestrictedCash_8CE709A16CDE29A2CF5E7D6869B45FC0_negatedLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRestrictedCash_8CE709A16CDE29A2CF5E7D6869B45FC0" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Change in restricted cash related to capital reserves </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInRestrictedCash_8CE709A16CDE29A2CF5E7D6869B45FC0_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInRestrictedCash_8CE709A16CDE29A2CF5E7D6869B45FC0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Restricted Cash </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:label="loc_us-gaap_IncreaseDecreaseInRestrictedCash_8CE709A16CDE29A2CF5E7D6869B45FC0" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_6DBA9D6E03D3648FFE497D6869B430CC_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_6DBA9D6E03D3648FFE497D6869B430CC" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Purchase of corporate furniture, fixtures and equipment </link:label>
<link:label id="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_6DBA9D6E03D3648FFE497D6869B430CC_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_6DBA9D6E03D3648FFE497D6869B430CC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Property, Plant, and Equipment </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_6DBA9D6E03D3648FFE497D6869B430CC" xlink:type="locator"/>
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<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_ABECABB81FD9319350F07D6869B45C79_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_ABECABB81FD9319350F07D6869B45C79" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net cash used in investing activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_ABECABB81FD9319350F07D6869B45C79_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInInvestingActivities_ABECABB81FD9319350F07D6869B45C79" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Investing Activities </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_ABECABB81FD9319350F07D6869B45C79" xlink:type="locator"/>
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<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_B50E229BCB70636441A57D6869B4B5D3_verboseLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_B50E229BCB70636441A57D6869B4B5D3" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Financing activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_B50E229BCB70636441A57D6869B4B5D3_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_B50E229BCB70636441A57D6869B4B5D3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Financing Activities [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_B50E229BCB70636441A57D6869B4B5D3" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonLimitedPartnersUnits_8D303F32C4E74B9012F57D6869B442F9_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonLimitedPartnersUnits_8D303F32C4E74B9012F57D6869B442F9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from issuance of common units in exchange for contributions, net </link:label>
<link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonLimitedPartnersUnits_8D303F32C4E74B9012F57D6869B442F9_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonLimitedPartnersUnits_8D303F32C4E74B9012F57D6869B442F9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Issuance of Common Limited Partners Units </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonLimitedPartnersUnits" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonLimitedPartnersUnits_8D303F32C4E74B9012F57D6869B442F9" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PaymentsOfStockIssuanceCosts_A269E27943B196E052147D6869B41194_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfStockIssuanceCosts_A269E27943B196E052147D6869B41194" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Offering costs </link:label>
<link:label id="lab_us-gaap_PaymentsOfStockIssuanceCosts_A269E27943B196E052147D6869B41194_label_en-US" xlink:label="lab_us-gaap_PaymentsOfStockIssuanceCosts_A269E27943B196E052147D6869B41194" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments of Stock Issuance Costs </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:label="loc_us-gaap_PaymentsOfStockIssuanceCosts_A269E27943B196E052147D6869B41194" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfStockIssuanceCosts_A269E27943B196E052147D6869B41194" xlink:to="lab_us-gaap_PaymentsOfStockIssuanceCosts_A269E27943B196E052147D6869B41194" xlink:type="arc"/>
<link:label id="lab_acc_RepaymentOfMortgageAndConstructionLoans_A0C21110DF995087A56E7D6869B4781F_negatedLabel_en-US" xlink:label="lab_acc_RepaymentOfMortgageAndConstructionLoans_A0C21110DF995087A56E7D6869B4781F" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Pay-off of mortgage and construction loans </link:label>
<link:label id="lab_acc_RepaymentOfMortgageAndConstructionLoans_A0C21110DF995087A56E7D6869B4781F_label_en-US" xlink:label="lab_acc_RepaymentOfMortgageAndConstructionLoans_A0C21110DF995087A56E7D6869B4781F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repayment Of Mortgage and Construction Loans </link:label>
<link:label id="lab_acc_RepaymentOfMortgageAndConstructionLoans_A0C21110DF995087A56E7D6869B4781F_documentation_en-US" xlink:label="lab_acc_RepaymentOfMortgageAndConstructionLoans_A0C21110DF995087A56E7D6869B4781F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The cash outflow from repayment of borrowings to finance the cost of construction and repayment of mortgage loans. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_RepaymentOfMortgageAndConstructionLoans" xlink:label="loc_acc_RepaymentOfMortgageAndConstructionLoans_A0C21110DF995087A56E7D6869B4781F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_RepaymentOfMortgageAndConstructionLoans_A0C21110DF995087A56E7D6869B4781F" xlink:to="lab_acc_RepaymentOfMortgageAndConstructionLoans_A0C21110DF995087A56E7D6869B4781F" xlink:type="arc"/>
<link:label id="lab_us-gaap_RepaymentsOfUnsecuredDebt_72635BF5B498E368FA577D6869B4E11B_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfUnsecuredDebt_72635BF5B498E368FA577D6869B4E11B" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Pay-off of unsecured term loans </link:label>
<link:label id="lab_us-gaap_RepaymentsOfUnsecuredDebt_72635BF5B498E368FA577D6869B4E11B_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfUnsecuredDebt_72635BF5B498E368FA577D6869B4E11B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repayments of Unsecured Debt </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepaymentsOfUnsecuredDebt" xlink:label="loc_us-gaap_RepaymentsOfUnsecuredDebt_72635BF5B498E368FA577D6869B4E11B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfUnsecuredDebt_72635BF5B498E368FA577D6869B4E11B" xlink:to="lab_us-gaap_RepaymentsOfUnsecuredDebt_72635BF5B498E368FA577D6869B4E11B" xlink:type="arc"/>
<link:label id="lab_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt_7BE979297ECCBDC3B3EF7D6869B45549_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt_7BE979297ECCBDC3B3EF7D6869B45549" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from unsecured term loan </link:label>
<link:label id="lab_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt_7BE979297ECCBDC3B3EF7D6869B45549_label_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt_7BE979297ECCBDC3B3EF7D6869B45549" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Issuance of Unsecured Debt </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfUnsecuredDebt" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt_7BE979297ECCBDC3B3EF7D6869B45549" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt_7BE979297ECCBDC3B3EF7D6869B45549" xlink:to="lab_us-gaap_ProceedsFromIssuanceOfUnsecuredDebt_7BE979297ECCBDC3B3EF7D6869B45549" xlink:type="arc"/>
<link:label id="lab_us-gaap_ProceedsFromLinesOfCredit_5A822EC4C1D17432447B7D6869B424C5_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromLinesOfCredit_5A822EC4C1D17432447B7D6869B424C5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from revolving credit facility </link:label>
<link:label id="lab_us-gaap_ProceedsFromLinesOfCredit_5A822EC4C1D17432447B7D6869B424C5_label_en-US" xlink:label="lab_us-gaap_ProceedsFromLinesOfCredit_5A822EC4C1D17432447B7D6869B424C5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Lines of Credit </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromLinesOfCredit" xlink:label="loc_us-gaap_ProceedsFromLinesOfCredit_5A822EC4C1D17432447B7D6869B424C5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromLinesOfCredit_5A822EC4C1D17432447B7D6869B424C5" xlink:to="lab_us-gaap_ProceedsFromLinesOfCredit_5A822EC4C1D17432447B7D6869B424C5" xlink:type="arc"/>
<link:label id="lab_us-gaap_RepaymentsOfLinesOfCredit_8897F450F6BC6196409C7D6869B40BE1_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfLinesOfCredit_8897F450F6BC6196409C7D6869B40BE1" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Paydowns of revolving credit facility </link:label>
<link:label id="lab_us-gaap_RepaymentsOfLinesOfCredit_8897F450F6BC6196409C7D6869B40BE1_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfLinesOfCredit_8897F450F6BC6196409C7D6869B40BE1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repayments of Lines of Credit </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepaymentsOfLinesOfCredit" xlink:label="loc_us-gaap_RepaymentsOfLinesOfCredit_8897F450F6BC6196409C7D6869B40BE1" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfLinesOfCredit_8897F450F6BC6196409C7D6869B40BE1" xlink:to="lab_us-gaap_RepaymentsOfLinesOfCredit_8897F450F6BC6196409C7D6869B40BE1" xlink:type="arc"/>
<link:label id="lab_us-gaap_ProceedsFromConstructionLoansPayable_E00DBAFDDF02F66B60997D6869B4CA6A_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromConstructionLoansPayable_E00DBAFDDF02F66B60997D6869B4CA6A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from construction loans </link:label>
<link:label id="lab_us-gaap_ProceedsFromConstructionLoansPayable_E00DBAFDDF02F66B60997D6869B4CA6A_label_en-US" xlink:label="lab_us-gaap_ProceedsFromConstructionLoansPayable_E00DBAFDDF02F66B60997D6869B4CA6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Construction Loans Payable </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromConstructionLoansPayable" xlink:label="loc_us-gaap_ProceedsFromConstructionLoansPayable_E00DBAFDDF02F66B60997D6869B4CA6A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromConstructionLoansPayable_E00DBAFDDF02F66B60997D6869B4CA6A" xlink:to="lab_us-gaap_ProceedsFromConstructionLoansPayable_E00DBAFDDF02F66B60997D6869B4CA6A" xlink:type="arc"/>
<link:label id="lab_us-gaap_RepaymentsOfSecuredDebt_BE8001C45CD7DA7008377D6869B4710C_negatedLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfSecuredDebt_BE8001C45CD7DA7008377D6869B4710C" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Scheduled principal payments on debt </link:label>
<link:label id="lab_us-gaap_RepaymentsOfSecuredDebt_BE8001C45CD7DA7008377D6869B4710C_label_en-US" xlink:label="lab_us-gaap_RepaymentsOfSecuredDebt_BE8001C45CD7DA7008377D6869B4710C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Repayments of Secured Debt </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepaymentsOfSecuredDebt" xlink:label="loc_us-gaap_RepaymentsOfSecuredDebt_BE8001C45CD7DA7008377D6869B4710C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfSecuredDebt_BE8001C45CD7DA7008377D6869B4710C" xlink:to="lab_us-gaap_RepaymentsOfSecuredDebt_BE8001C45CD7DA7008377D6869B4710C" xlink:type="arc"/>
<link:label id="lab_us-gaap_PaymentsOfDebtIssuanceCosts_4378E2C5F037ED202B6F7D6869B42098_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDebtIssuanceCosts_4378E2C5F037ED202B6F7D6869B42098" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Debt issuance and assumption costs </link:label>
<link:label id="lab_us-gaap_PaymentsOfDebtIssuanceCosts_4378E2C5F037ED202B6F7D6869B42098_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDebtIssuanceCosts_4378E2C5F037ED202B6F7D6869B42098" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments of Debt Issuance Costs </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsOfDebtIssuanceCosts" xlink:label="loc_us-gaap_PaymentsOfDebtIssuanceCosts_4378E2C5F037ED202B6F7D6869B42098" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsOfDebtIssuanceCosts_4378E2C5F037ED202B6F7D6869B42098" xlink:to="lab_us-gaap_PaymentsOfDebtIssuanceCosts_4378E2C5F037ED202B6F7D6869B42098" xlink:type="arc"/>
<link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_D90D3FE0204A163253627D6869B47C81_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders_D90D3FE0204A163253627D6869B47C81" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Contributions by noncontrolling interest </link:label>
<link:label id="lab_us-gaap_ProceedsFromMinorityShareholders_D90D3FE0204A163253627D6869B47C81_label_en-US" xlink:label="lab_us-gaap_ProceedsFromMinorityShareholders_D90D3FE0204A163253627D6869B47C81" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Noncontrolling Interests </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromMinorityShareholders" xlink:label="loc_us-gaap_ProceedsFromMinorityShareholders_D90D3FE0204A163253627D6869B47C81" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_FA7DC9A175DBF35C66977D6869B439EE_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_FA7DC9A175DBF35C66977D6869B439EE" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Taxes paid on net-share settlements </link:label>
<link:label id="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_FA7DC9A175DBF35C66977D6869B439EE_label_en-US" xlink:label="lab_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_FA7DC9A175DBF35C66977D6869B439EE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments Related to Tax Withholding for Share-based Compensation </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation" xlink:label="loc_us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation_FA7DC9A175DBF35C66977D6869B439EE" xlink:type="locator"/>
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<link:label id="lab_acc_PaymentsToCommonStockAndRestrictedStockholders_866DD17663F5B0F39F0F7D6869B45B4F_negatedLabel_en-US" xlink:label="lab_acc_PaymentsToCommonStockAndRestrictedStockholders_866DD17663F5B0F39F0F7D6869B45B4F" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Distributions to common and restricted stockholders </link:label>
<link:label id="lab_acc_PaymentsToCommonStockAndRestrictedStockholders_866DD17663F5B0F39F0F7D6869B45B4F_label_en-US" xlink:label="lab_acc_PaymentsToCommonStockAndRestrictedStockholders_866DD17663F5B0F39F0F7D6869B45B4F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments To Common Stock and Restricted Stockholders </link:label>
<link:label id="lab_acc_PaymentsToCommonStockAndRestrictedStockholders_866DD17663F5B0F39F0F7D6869B45B4F_documentation_en-US" xlink:label="lab_acc_PaymentsToCommonStockAndRestrictedStockholders_866DD17663F5B0F39F0F7D6869B45B4F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The cash outflow from payments to common stock and restricted stockholders. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_PaymentsToCommonStockAndRestrictedStockholders" xlink:label="loc_acc_PaymentsToCommonStockAndRestrictedStockholders_866DD17663F5B0F39F0F7D6869B45B4F" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PaymentsOfDividends_1B4A61B9686E045704CE7D6869B4B0A0_negatedLabel_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_1B4A61B9686E045704CE7D6869B4B0A0" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Distributions paid </link:label>
<link:label id="lab_us-gaap_PaymentsOfDividends_1B4A61B9686E045704CE7D6869B4B0A0_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividends_1B4A61B9686E045704CE7D6869B4B0A0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments of Dividends </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsOfDividends" xlink:label="loc_us-gaap_PaymentsOfDividends_1B4A61B9686E045704CE7D6869B4B0A0" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PaymentsOfDividendsMinorityInterest_0839A7B09010B008015B7D6869B481CC_label_en-US" xlink:label="lab_us-gaap_PaymentsOfDividendsMinorityInterest_0839A7B09010B008015B7D6869B481CC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments of Ordinary Dividends, Noncontrolling Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsOfDividendsMinorityInterest" xlink:label="loc_us-gaap_PaymentsOfDividendsMinorityInterest_0839A7B09010B008015B7D6869B481CC" xlink:type="locator"/>
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<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_440874B91906C58A3ACE7D6869B4BB49_totalLabel_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_440874B91906C58A3ACE7D6869B4BB49" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net cash provided by financing activities </link:label>
<link:label id="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_440874B91906C58A3ACE7D6869B4BB49_label_en-US" xlink:label="lab_us-gaap_NetCashProvidedByUsedInFinancingActivities_440874B91906C58A3ACE7D6869B4BB49" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Cash Provided by (Used in) Financing Activities </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_440874B91906C58A3ACE7D6869B4BB49" xlink:type="locator"/>
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<link:label id="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_5473EB67522884B8AA1B7D6869B48F9F_totalLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_5473EB67522884B8AA1B7D6869B48F9F" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net change in cash and cash equivalents </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_5473EB67522884B8AA1B7D6869B48F9F_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_5473EB67522884B8AA1B7D6869B48F9F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash and Cash Equivalents, Period Increase (Decrease) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:label="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_5473EB67522884B8AA1B7D6869B48F9F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_5473EB67522884B8AA1B7D6869B48F9F" xlink:to="lab_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_5473EB67522884B8AA1B7D6869B48F9F" xlink:type="arc"/>
<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_EB49007FA440430EC65D7D6869B45000_periodStartLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_EB49007FA440430EC65D7D6869B45000" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Cash and cash equivalents at beginning of period </link:label>
<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_EB49007FA440430EC65D7D6869B45000_label_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_EB49007FA440430EC65D7D6869B45000" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash and Cash Equivalents, at Carrying Value </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_EB49007FA440430EC65D7D6869B45000" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_EB49007FA440430EC65D7D6869B45000" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_EB49007FA440430EC65D7D6869B45000" xlink:type="arc"/>
<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_39638ADB411C1DFCC4387D6869B48B3C_periodEndLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_39638ADB411C1DFCC4387D6869B48B3C" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Cash and cash equivalents at end of period </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_39638ADB411C1DFCC4387D6869B48B3C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_39638ADB411C1DFCC4387D6869B48B3C" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_39638ADB411C1DFCC4387D6869B48B3C" xlink:type="arc"/>
<link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_4789B366DB44665371BB7D6869B41AF6_verboseLabel_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_4789B366DB44665371BB7D6869B41AF6" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Supplemental disclosure of non-cash investing and financing activities </link:label>
<link:label id="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_4789B366DB44665371BB7D6869B41AF6_label_en-US" xlink:label="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_4789B366DB44665371BB7D6869B41AF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:label="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_4789B366DB44665371BB7D6869B41AF6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_4789B366DB44665371BB7D6869B41AF6" xlink:to="lab_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract_4789B366DB44665371BB7D6869B41AF6" xlink:type="arc"/>
<link:label id="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_BC91AED9E39912B4A96E7D6869B46102_negatedLabel_en-US" xlink:label="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_BC91AED9E39912B4A96E7D6869B46102" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Loans assumed in connection with property acquisitions </link:label>
<link:label id="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_BC91AED9E39912B4A96E7D6869B46102_label_en-US" xlink:label="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_BC91AED9E39912B4A96E7D6869B46102" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noncash or Part Noncash Acquisition, Debt Assumed </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1" xlink:label="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_BC91AED9E39912B4A96E7D6869B46102" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_BC91AED9E39912B4A96E7D6869B46102" xlink:to="lab_us-gaap_NoncashOrPartNoncashAcquisitionDebtAssumed1_BC91AED9E39912B4A96E7D6869B46102" xlink:type="arc"/>
<link:label id="lab_us-gaap_StockIssued1_B4CB3F3B229F7EFB56057D6869B4A0C4_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssued1_B4CB3F3B229F7EFB56057D6869B4A0C4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Conversion of common and preferred operating partnership units to common stock </link:label>
<link:label id="lab_us-gaap_StockIssued1_B4CB3F3B229F7EFB56057D6869B4A0C4_label_en-US" xlink:label="lab_us-gaap_StockIssued1_B4CB3F3B229F7EFB56057D6869B4A0C4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssued1" xlink:label="loc_us-gaap_StockIssued1_B4CB3F3B229F7EFB56057D6869B4A0C4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssued1_B4CB3F3B229F7EFB56057D6869B4A0C4" xlink:to="lab_us-gaap_StockIssued1_B4CB3F3B229F7EFB56057D6869B4A0C4" xlink:type="arc"/>
<link:label id="lab_us-gaap_ProceedsFromDivestitureOfInterestInJointVenture_6C8A029669C34ED78CEE7D6869B4DC22_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDivestitureOfInterestInJointVenture_6C8A029669C34ED78CEE7D6869B4DC22" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Non-cash contribution from noncontrolling interest </link:label>
<link:label id="lab_us-gaap_ProceedsFromDivestitureOfInterestInJointVenture_6C8A029669C34ED78CEE7D6869B4DC22_label_en-US" xlink:label="lab_us-gaap_ProceedsFromDivestitureOfInterestInJointVenture_6C8A029669C34ED78CEE7D6869B4DC22" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Proceeds from Divestiture of Interest in Joint Venture </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromDivestitureOfInterestInJointVenture" xlink:label="loc_us-gaap_ProceedsFromDivestitureOfInterestInJointVenture_6C8A029669C34ED78CEE7D6869B4DC22" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ProceedsFromDivestitureOfInterestInJointVenture_6C8A029669C34ED78CEE7D6869B4DC22" xlink:to="lab_us-gaap_ProceedsFromDivestitureOfInterestInJointVenture_6C8A029669C34ED78CEE7D6869B4DC22" xlink:type="arc"/>
<link:label id="lab_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_50B2C916EC0074DB93077D6869B49A39_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_50B2C916EC0074DB93077D6869B49A39" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Non-cash consideration exchanged in purchase of land parcel </link:label>
<link:label id="lab_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_50B2C916EC0074DB93077D6869B49A39_label_en-US" xlink:label="lab_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_50B2C916EC0074DB93077D6869B49A39" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Significant Noncash Transaction, Value of Consideration Given </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1" xlink:label="loc_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_50B2C916EC0074DB93077D6869B49A39" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_50B2C916EC0074DB93077D6869B49A39" xlink:to="lab_us-gaap_OtherSignificantNoncashTransactionValueOfConsiderationGiven1_50B2C916EC0074DB93077D6869B49A39" xlink:type="arc"/>
<link:label id="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_558716612AC201C79B1E7D6869B4CDFC_terseLabel_en-US" xlink:label="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_558716612AC201C79B1E7D6869B4CDFC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in accrued construction in progress </link:label>
<link:label id="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_558716612AC201C79B1E7D6869B4CDFC_label_en-US" xlink:label="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_558716612AC201C79B1E7D6869B4CDFC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Construction in Progress Expenditures Incurred but Not yet Paid </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid" xlink:label="loc_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_558716612AC201C79B1E7D6869B4CDFC" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_558716612AC201C79B1E7D6869B4CDFC" xlink:to="lab_us-gaap_ConstructionInProgressExpendituresIncurredButNotYetPaid_558716612AC201C79B1E7D6869B4CDFC" xlink:type="arc"/>
<link:label id="lab_acc_IncreaseDecreaseInFairValueOfInterestRateSwapsNet_24693FB1983B95806A4F7D6869B479A2_terseLabel_en-US" xlink:label="lab_acc_IncreaseDecreaseInFairValueOfInterestRateSwapsNet_24693FB1983B95806A4F7D6869B479A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in fair value of derivative instruments, net </link:label>
<link:label id="lab_acc_IncreaseDecreaseInFairValueOfInterestRateSwapsNet_24693FB1983B95806A4F7D6869B479A2_label_en-US" xlink:label="lab_acc_IncreaseDecreaseInFairValueOfInterestRateSwapsNet_24693FB1983B95806A4F7D6869B479A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase Decrease In Fair Value Of Interest Rate Swaps Net </link:label>
<link:label id="lab_acc_IncreaseDecreaseInFairValueOfInterestRateSwapsNet_24693FB1983B95806A4F7D6869B479A2_documentation_en-US" xlink:label="lab_acc_IncreaseDecreaseInFairValueOfInterestRateSwapsNet_24693FB1983B95806A4F7D6869B479A2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents information about increase / (decrease) in fair value of interest rate swaps, net. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_IncreaseDecreaseInFairValueOfInterestRateSwapsNet" xlink:label="loc_acc_IncreaseDecreaseInFairValueOfInterestRateSwapsNet_24693FB1983B95806A4F7D6869B479A2" xlink:type="locator"/>
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<link:label id="lab_acc_IncreaseDecreaseinFairValueofRedeemableNoncontrollingInterests_1C51E02A6360C93CD1257D6869B43150_terseLabel_en-US" xlink:label="lab_acc_IncreaseDecreaseinFairValueofRedeemableNoncontrollingInterests_1C51E02A6360C93CD1257D6869B43150" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in fair value of redeemable noncontrolling interests </link:label>
<link:label id="lab_acc_IncreaseDecreaseinFairValueofRedeemableNoncontrollingInterests_1C51E02A6360C93CD1257D6869B43150_label_en-US" xlink:label="lab_acc_IncreaseDecreaseinFairValueofRedeemableNoncontrollingInterests_1C51E02A6360C93CD1257D6869B43150" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Fair Value of Redeemable Noncontrolling Interests </link:label>
<link:label id="lab_acc_IncreaseDecreaseinFairValueofRedeemableNoncontrollingInterests_1C51E02A6360C93CD1257D6869B43150_documentation_en-US" xlink:label="lab_acc_IncreaseDecreaseinFairValueofRedeemableNoncontrollingInterests_1C51E02A6360C93CD1257D6869B43150" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Fair Value of Redeemable Noncontrolling Interests </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_IncreaseDecreaseinFairValueofRedeemableNoncontrollingInterests" xlink:label="loc_acc_IncreaseDecreaseinFairValueofRedeemableNoncontrollingInterests_1C51E02A6360C93CD1257D6869B43150" xlink:type="locator"/>
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<link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_3A32BF832950C694B66B7D6869B4FE21_terseLabel_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract_3A32BF832950C694B66B7D6869B4FE21" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Supplemental disclosure of cash flow information </link:label>
<link:label id="lab_us-gaap_SupplementalCashFlowInformationAbstract_3A32BF832950C694B66B7D6869B4FE21_label_en-US" xlink:label="lab_us-gaap_SupplementalCashFlowInformationAbstract_3A32BF832950C694B66B7D6869B4FE21" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Supplemental Cash Flow Information [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:label="loc_us-gaap_SupplementalCashFlowInformationAbstract_3A32BF832950C694B66B7D6869B4FE21" xlink:type="locator"/>
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<link:label id="lab_us-gaap_InterestPaidNet_1CDA4A7E94B6B56796C97D6869B4F97A_terseLabel_en-US" xlink:label="lab_us-gaap_InterestPaidNet_1CDA4A7E94B6B56796C97D6869B4F97A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash paid for interest, net of amounts capitalized </link:label>
<link:label id="lab_us-gaap_InterestPaidNet_1CDA4A7E94B6B56796C97D6869B4F97A_label_en-US" xlink:label="lab_us-gaap_InterestPaidNet_1CDA4A7E94B6B56796C97D6869B4F97A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interest Paid, Net </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestPaidNet" xlink:label="loc_us-gaap_InterestPaidNet_1CDA4A7E94B6B56796C97D6869B4F97A" xlink:type="locator"/>
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<link:label id="lab_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_1A8AB82D336FDBFAEAAD84B8EE9C72F5_label_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_74CDFBFF8AB55808806DE36B4A7441FA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Discontinued Operations and Disposal Groups [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract" xlink:label="loc_us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract_74CDFBFF8AB55808806DE36B4A7441FA" xlink:type="locator"/>
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<link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_DDA3621EAB8867970A0D84B8EE9DA7DE_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_3781C1D61A5E5A3B8D590DD58289882E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Disposal Groups, Including Discontinued Operations [Table] </link:label>
<link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_DDA3621EAB8867970A0D84B8EE9DA7DE_label_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_3781C1D61A5E5A3B8D590DD58289882E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Groups, Including Discontinued Operations [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_3781C1D61A5E5A3B8D590DD58289882E" xlink:type="locator"/>
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<link:label id="lab_us-gaap_DisposalGroupClassificationAxis_5A2FC801E806F615451B84B8EE9DC35A_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationAxis_68B4E015F9CB5140A17DFF4F05C0139D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Disposal Group Classification [Axis] </link:label>
<link:label id="lab_us-gaap_DisposalGroupClassificationAxis_5A2FC801E806F615451B84B8EE9DC35A_label_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationAxis_68B4E015F9CB5140A17DFF4F05C0139D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group Classification [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupClassificationAxis" xlink:label="loc_us-gaap_DisposalGroupClassificationAxis_68B4E015F9CB5140A17DFF4F05C0139D" xlink:type="locator"/>
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<link:label id="lab_us-gaap_DisposalGroupClassificationDomain_37F530C9EBC6E7E082D684B8EE9DAE12_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationDomain_F9B861499D1F5D9892687B345E1CF71F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Disposal Group Classification [Domain] </link:label>
<link:label id="lab_us-gaap_DisposalGroupClassificationDomain_37F530C9EBC6E7E082D684B8EE9DAE12_label_en-US" xlink:label="lab_us-gaap_DisposalGroupClassificationDomain_F9B861499D1F5D9892687B345E1CF71F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group Classification [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupClassificationDomain" xlink:label="loc_us-gaap_DisposalGroupClassificationDomain_F9B861499D1F5D9892687B345E1CF71F" xlink:type="locator"/>
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<link:label id="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_94B7EFDCEA0619F172F984B8EE9D46B6_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_22D28BE9E56656BFBD4A9C52DD72052D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Disposal Group, Held-for-sale, Not Discontinued Operations </link:label>
<link:label id="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_94B7EFDCEA0619F172F984B8EE9D46B6_label_en-US" xlink:label="lab_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_22D28BE9E56656BFBD4A9C52DD72052D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Held-for-sale, Not Discontinued Operations [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember" xlink:label="loc_us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember_22D28BE9E56656BFBD4A9C52DD72052D" xlink:type="locator"/>
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<link:label id="lab_acc_ProvinceDaytonMember_545979EC614A44C1D76284B8EE9D4E0B_terseLabel_en-US" xlink:label="lab_acc_ProvinceDaytonMember_21866E426446559F9F27CDF31A933A68" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> The Province - Dayton </link:label>
<link:label id="lab_acc_ProvinceDaytonMember_545979EC614A44C1D76284B8EE9D4E0B_label_en-US" xlink:label="lab_acc_ProvinceDaytonMember_21866E426446559F9F27CDF31A933A68" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Province Dayton [Member] </link:label>
<link:label id="lab_acc_ProvinceDaytonMember_545979EC614A44C1D76284B8EE9D4E0B_documentation_en-US" xlink:label="lab_acc_ProvinceDaytonMember_21866E426446559F9F27CDF31A933A68" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Province Dayton [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_ProvinceDaytonMember" xlink:label="loc_acc_ProvinceDaytonMember_21866E426446559F9F27CDF31A933A68" xlink:type="locator"/>
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<link:label id="lab_us-gaap_MajorPropertyClassAxis_A911187A04B1EAB05E2184B8EE9DBD3C_terseLabel_en-US" xlink:label="lab_us-gaap_MajorPropertyClassAxis_58D103CA84285DC7BC6D974EF376E6A6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Major Property Class [Axis] </link:label>
<link:label id="lab_us-gaap_MajorPropertyClassAxis_A911187A04B1EAB05E2184B8EE9DBD3C_label_en-US" xlink:label="lab_us-gaap_MajorPropertyClassAxis_58D103CA84285DC7BC6D974EF376E6A6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Major Property Class [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MajorPropertyClassAxis" xlink:label="loc_us-gaap_MajorPropertyClassAxis_58D103CA84285DC7BC6D974EF376E6A6" xlink:type="locator"/>
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<link:label id="lab_us-gaap_MajorPropertyClassDomain_0BCE9315A1653114820884B8EE9D6F16_terseLabel_en-US" xlink:label="lab_us-gaap_MajorPropertyClassDomain_90A0E202D93A5831B5D227D105DD6582" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Major Property Class [Domain] </link:label>
<link:label id="lab_us-gaap_MajorPropertyClassDomain_0BCE9315A1653114820884B8EE9D6F16_label_en-US" xlink:label="lab_us-gaap_MajorPropertyClassDomain_90A0E202D93A5831B5D227D105DD6582" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Major Property Class [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MajorPropertyClassDomain" xlink:label="loc_us-gaap_MajorPropertyClassDomain_90A0E202D93A5831B5D227D105DD6582" xlink:type="locator"/>
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<link:label id="lab_acc_WhollyOwnedPropertiesHeldForSaleMember_BD47EE38E6F092E2868484B8EE9D2B3F_verboseLabel_en-US" xlink:label="lab_acc_WhollyOwnedPropertiesHeldForSaleMember_E304A660D3925FAA8A04DCF78CA4C4F0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Wholly-owned properties held for sale </link:label>
<link:label id="lab_acc_WhollyOwnedPropertiesHeldForSaleMember_BD47EE38E6F092E2868484B8EE9D2B3F_label_en-US" xlink:label="lab_acc_WhollyOwnedPropertiesHeldForSaleMember_E304A660D3925FAA8A04DCF78CA4C4F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Wholly Owned Properties Held For Sale [Member] </link:label>
<link:label id="lab_acc_WhollyOwnedPropertiesHeldForSaleMember_BD47EE38E6F092E2868484B8EE9D2B3F_documentation_en-US" xlink:label="lab_acc_WhollyOwnedPropertiesHeldForSaleMember_E304A660D3925FAA8A04DCF78CA4C4F0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Wholly Owned Properties Held For Sale [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_WhollyOwnedPropertiesHeldForSaleMember" xlink:label="loc_acc_WhollyOwnedPropertiesHeldForSaleMember_E304A660D3925FAA8A04DCF78CA4C4F0" xlink:type="locator"/>
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<link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_01A9EE137EF12806832284B8EE9DEC3D_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_D8F7C5BB9E40507AA698A661A432551D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] </link:label>
<link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_01A9EE137EF12806832284B8EE9DEC3D_label_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_D8F7C5BB9E40507AA698A661A432551D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsLineItems_D8F7C5BB9E40507AA698A661A432551D" xlink:type="locator"/>
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<link:label id="lab_acc_NumberOfAvailableBeds_D5CEC2A914DEDC48557D84B8EE9DC66A_terseLabel_en-US" xlink:label="lab_acc_NumberOfAvailableBeds_A76D6DA8DEAD5C1C99A972F8B9830EC2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Beds </link:label>
<link:label id="lab_acc_NumberOfAvailableBeds_D5CEC2A914DEDC48557D84B8EE9DC66A_label_en-US" xlink:label="lab_acc_NumberOfAvailableBeds_A76D6DA8DEAD5C1C99A972F8B9830EC2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number Of Available Beds </link:label>
<link:label id="lab_acc_NumberOfAvailableBeds_D5CEC2A914DEDC48557D84B8EE9DC66A_documentation_en-US" xlink:label="lab_acc_NumberOfAvailableBeds_A76D6DA8DEAD5C1C99A972F8B9830EC2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents information pertaining to number of available beds. </link:label>
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<link:label id="lab_us-gaap_SubsequentEventsAbstract_838B7AD8E3D5B355AA7184B8EC9B7753_label_en-US" xlink:label="lab_us-gaap_SubsequentEventsAbstract_7F290EAED7445143B61F7D0F374FEEBA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Subsequent Events [Abstract] </link:label>
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<link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_9CA640FF218D538080E884B8ECAD96E1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_7BB7351F835857908D31DC23AEF8F77B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of segment information </link:label>
<link:label id="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_9CA640FF218D538080E884B8ECAD96E1_label_en-US" xlink:label="lab_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_7BB7351F835857908D31DC23AEF8F77B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Segment Reporting Information, by Segment [Table Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock" xlink:label="loc_us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock_7BB7351F835857908D31DC23AEF8F77B" xlink:type="locator"/>
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<link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_40684775230E9BDCE6E384B8EE192023_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_D335E438EBEC54F7AA04AD8D64962A8D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity / Partners' Capital </link:label>
<link:label id="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_40684775230E9BDCE6E384B8EE192023_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityNoteDisclosureTextBlock_D335E438EBEC54F7AA04AD8D64962A8D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity Note Disclosure [Text Block] </link:label>
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<link:label id="lab_us-gaap_SeniorNotesMember_E4A6A25C3E70EB25722884B8EE2C09E9_terseLabel_en-US" xlink:label="lab_us-gaap_SeniorNotesMember_406C47263FCD5782BB0D86B1A7A4A49F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Senior notes </link:label>
<link:label id="lab_us-gaap_SeniorNotesMember_E4A6A25C3E70EB25722884B8EE2C09E9_label_en-US" xlink:label="lab_us-gaap_SeniorNotesMember_406C47263FCD5782BB0D86B1A7A4A49F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Senior Notes [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SeniorNotesMember" xlink:label="loc_us-gaap_SeniorNotesMember_406C47263FCD5782BB0D86B1A7A4A49F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_SeniorNotesMember_406C47263FCD5782BB0D86B1A7A4A49F" xlink:to="lab_us-gaap_SeniorNotesMember_406C47263FCD5782BB0D86B1A7A4A49F" xlink:type="arc"/>
<link:label id="lab_acc_SeniorNotesApril2013Member_1E2C2BC72438CB8156DB84B8EE2C38E9_terseLabel_en-US" xlink:label="lab_acc_SeniorNotesApril2013Member_C78CA5A20AF85F3E9FB426E4A4FC0338" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Senior notes - April 2013 </link:label>
<link:label id="lab_acc_SeniorNotesApril2013Member_1E2C2BC72438CB8156DB84B8EE2C38E9_label_en-US" xlink:label="lab_acc_SeniorNotesApril2013Member_C78CA5A20AF85F3E9FB426E4A4FC0338" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Senior Notes - April 2013 [Member] </link:label>
<link:label id="lab_acc_SeniorNotesApril2013Member_1E2C2BC72438CB8156DB84B8EE2C38E9_documentation_en-US" xlink:label="lab_acc_SeniorNotesApril2013Member_C78CA5A20AF85F3E9FB426E4A4FC0338" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Senior Notes - April 2013 [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_SeniorNotesApril2013Member" xlink:label="loc_acc_SeniorNotesApril2013Member_C78CA5A20AF85F3E9FB426E4A4FC0338" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_SeniorNotesApril2013Member_C78CA5A20AF85F3E9FB426E4A4FC0338" xlink:to="lab_acc_SeniorNotesApril2013Member_C78CA5A20AF85F3E9FB426E4A4FC0338" xlink:type="arc"/>
<link:label id="lab_acc_SeniorNotesJune2014Member_5EA1E3D1A396A60357C984B8EE2C3CA5_terseLabel_en-US" xlink:label="lab_acc_SeniorNotesJune2014Member_2B9F7BC5AD545309989DB83B745C585B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Senior notes - June 2014 </link:label>
<link:label id="lab_acc_SeniorNotesJune2014Member_5EA1E3D1A396A60357C984B8EE2C3CA5_label_en-US" xlink:label="lab_acc_SeniorNotesJune2014Member_2B9F7BC5AD545309989DB83B745C585B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Senior Notes - June 2014 [Member] </link:label>
<link:label id="lab_acc_SeniorNotesJune2014Member_5EA1E3D1A396A60357C984B8EE2C3CA5_documentation_en-US" xlink:label="lab_acc_SeniorNotesJune2014Member_2B9F7BC5AD545309989DB83B745C585B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Senior Notes - June 2014 [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_SeniorNotesJune2014Member" xlink:label="loc_acc_SeniorNotesJune2014Member_2B9F7BC5AD545309989DB83B745C585B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_SeniorNotesJune2014Member_2B9F7BC5AD545309989DB83B745C585B" xlink:to="lab_acc_SeniorNotesJune2014Member_2B9F7BC5AD545309989DB83B745C585B" xlink:type="arc"/>
<link:label id="lab_acc_SeniorNotesSeptember2015Member_5C8B3C69028F0B1A9A7384B8EE2DCD12_terseLabel_en-US" xlink:label="lab_acc_SeniorNotesSeptember2015Member_56F23DFDA5D657FE8E726EE1FFD11485" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Senior notes - September 2015 </link:label>
<link:label id="lab_acc_SeniorNotesSeptember2015Member_5C8B3C69028F0B1A9A7384B8EE2DCD12_label_en-US" xlink:label="lab_acc_SeniorNotesSeptember2015Member_56F23DFDA5D657FE8E726EE1FFD11485" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Senior Notes - September 2015 [Member] </link:label>
<link:label id="lab_acc_SeniorNotesSeptember2015Member_5C8B3C69028F0B1A9A7384B8EE2DCD12_documentation_en-US" xlink:label="lab_acc_SeniorNotesSeptember2015Member_56F23DFDA5D657FE8E726EE1FFD11485" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Senior Notes - September 2015 [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_SeniorNotesSeptember2015Member" xlink:label="loc_acc_SeniorNotesSeptember2015Member_56F23DFDA5D657FE8E726EE1FFD11485" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_SeniorNotesSeptember2015Member_56F23DFDA5D657FE8E726EE1FFD11485" xlink:to="lab_acc_SeniorNotesSeptember2015Member_56F23DFDA5D657FE8E726EE1FFD11485" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentFaceAmount_652AC4809CE8BC95689684B8EE2D3388_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_5CC06F29BFC455A39916BE05F0C456FB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount </link:label>
<link:label id="lab_us-gaap_DebtInstrumentFaceAmount_652AC4809CE8BC95689684B8EE2D3388_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentFaceAmount_5CC06F29BFC455A39916BE05F0C456FB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Face Amount </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:label="loc_us-gaap_DebtInstrumentFaceAmount_5CC06F29BFC455A39916BE05F0C456FB" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentFaceAmount_5CC06F29BFC455A39916BE05F0C456FB" xlink:to="lab_us-gaap_DebtInstrumentFaceAmount_5CC06F29BFC455A39916BE05F0C456FB" xlink:type="arc"/>
<link:label id="lab_acc_DebtInstrumentProceedsAsPercentageOfParValue_668E6ED10C2DB3567B6884B8EE2D59A5_terseLabel_en-US" xlink:label="lab_acc_DebtInstrumentProceedsAsPercentageOfParValue_ADC061EF2A735B429792EDCE469F98E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Percentage of Par Value </link:label>
<link:label id="lab_acc_DebtInstrumentProceedsAsPercentageOfParValue_668E6ED10C2DB3567B6884B8EE2D59A5_label_en-US" xlink:label="lab_acc_DebtInstrumentProceedsAsPercentageOfParValue_ADC061EF2A735B429792EDCE469F98E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument Proceeds As Percentage Of Par Value </link:label>
<link:label id="lab_acc_DebtInstrumentProceedsAsPercentageOfParValue_668E6ED10C2DB3567B6884B8EE2D59A5_documentation_en-US" xlink:label="lab_acc_DebtInstrumentProceedsAsPercentageOfParValue_ADC061EF2A735B429792EDCE469F98E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents percentage of proceedings received as to par value, proceeding above the part value represents premium and below the par value signifies discount. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_DebtInstrumentProceedsAsPercentageOfParValue" xlink:label="loc_acc_DebtInstrumentProceedsAsPercentageOfParValue_ADC061EF2A735B429792EDCE469F98E8" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_DebtInstrumentProceedsAsPercentageOfParValue_ADC061EF2A735B429792EDCE469F98E8" xlink:to="lab_acc_DebtInstrumentProceedsAsPercentageOfParValue_ADC061EF2A735B429792EDCE469F98E8" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_4A390DB524FAD4AE080C84B8EE2D203D_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_4D1CB74CB97855B2A2F7730B46FBB94B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Coupon (percent) </link:label>
<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_4A390DB524FAD4AE080C84B8EE2D203D_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_4D1CB74CB97855B2A2F7730B46FBB94B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Interest Rate, Stated Percentage </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_4D1CB74CB97855B2A2F7730B46FBB94B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_4D1CB74CB97855B2A2F7730B46FBB94B" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_4D1CB74CB97855B2A2F7730B46FBB94B" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_562F7B7962BC4E08A24284B8EE2D62C7_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_B104F73864805D3C9B6D804798F1E499" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Yield rate (percent) </link:label>
<link:label id="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_562F7B7962BC4E08A24284B8EE2D62C7_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_B104F73864805D3C9B6D804798F1E499" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Interest Rate, Effective Percentage </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentInterestRateEffectivePercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_B104F73864805D3C9B6D804798F1E499" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateEffectivePercentage_B104F73864805D3C9B6D804798F1E499" xlink:to="lab_us-gaap_DebtInstrumentInterestRateEffectivePercentage_B104F73864805D3C9B6D804798F1E499" xlink:type="arc"/>
<link:label id="lab_acc_DebtInstrumentOriginalIssueDiscount_AC1FBF511DA4463C3C6584B8EE2D6A9C_terseLabel_en-US" xlink:label="lab_acc_DebtInstrumentOriginalIssueDiscount_386A8814B6D952168A8CA0D80960FDEF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Original Issue Discount </link:label>
<link:label id="lab_acc_DebtInstrumentOriginalIssueDiscount_AC1FBF511DA4463C3C6584B8EE2D6A9C_label_en-US" xlink:label="lab_acc_DebtInstrumentOriginalIssueDiscount_386A8814B6D952168A8CA0D80960FDEF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument Original Issue Discount </link:label>
<link:label id="lab_acc_DebtInstrumentOriginalIssueDiscount_AC1FBF511DA4463C3C6584B8EE2D6A9C_documentation_en-US" xlink:label="lab_acc_DebtInstrumentOriginalIssueDiscount_386A8814B6D952168A8CA0D80960FDEF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents amount of recorded original issue discount on debt instrument. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_DebtInstrumentOriginalIssueDiscount" xlink:label="loc_acc_DebtInstrumentOriginalIssueDiscount_386A8814B6D952168A8CA0D80960FDEF" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_DebtInstrumentOriginalIssueDiscount_386A8814B6D952168A8CA0D80960FDEF" xlink:to="lab_acc_DebtInstrumentOriginalIssueDiscount_386A8814B6D952168A8CA0D80960FDEF" xlink:type="arc"/>
<link:label id="lab_acc_DebtInstrumentMaturityPeriod_3BB87CF826012A3CAA9484B8EE2DD8C4_terseLabel_en-US" xlink:label="lab_acc_DebtInstrumentMaturityPeriod_7B9321CFD4FB58FEBF6736CC35E26553" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Term </link:label>
<link:label id="lab_acc_DebtInstrumentMaturityPeriod_3BB87CF826012A3CAA9484B8EE2DD8C4_label_en-US" xlink:label="lab_acc_DebtInstrumentMaturityPeriod_7B9321CFD4FB58FEBF6736CC35E26553" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument Maturity Period </link:label>
<link:label id="lab_acc_DebtInstrumentMaturityPeriod_3BB87CF826012A3CAA9484B8EE2DD8C4_documentation_en-US" xlink:label="lab_acc_DebtInstrumentMaturityPeriod_7B9321CFD4FB58FEBF6736CC35E26553" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents a period when debt instrument is scheduled to be fully repaid. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_DebtInstrumentMaturityPeriod" xlink:label="loc_acc_DebtInstrumentMaturityPeriod_7B9321CFD4FB58FEBF6736CC35E26553" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_DebtInstrumentMaturityPeriod_7B9321CFD4FB58FEBF6736CC35E26553" xlink:to="lab_acc_DebtInstrumentMaturityPeriod_7B9321CFD4FB58FEBF6736CC35E26553" xlink:type="arc"/>
<link:label id="lab_us-gaap_StatementOfStockholdersEquityAbstract_90D6D3D0E87BE7CFEAFD59C47FEA5322_label_en-US" xlink:label="lab_us-gaap_StatementOfStockholdersEquityAbstract_90D6D3D0E87BE7CFEAFD59C47FEA5322" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement of Stockholders' Equity [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract" xlink:label="loc_us-gaap_StatementOfStockholdersEquityAbstract_90D6D3D0E87BE7CFEAFD59C47FEA5322" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfStockholdersEquityAbstract_90D6D3D0E87BE7CFEAFD59C47FEA5322" xlink:to="lab_us-gaap_StatementOfStockholdersEquityAbstract_90D6D3D0E87BE7CFEAFD59C47FEA5322" xlink:type="arc"/>
<link:label id="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_0A41A089AEDCFE1FBAE859C47FEABDBA_terseLabel_en-US" xlink:label="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_0A41A089AEDCFE1FBAE859C47FEABDBA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Partner Type [Axis] </link:label>
<link:label id="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_0A41A089AEDCFE1FBAE859C47FEABDBA_label_en-US" xlink:label="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_0A41A089AEDCFE1FBAE859C47FEABDBA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partner Type [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartnerTypeOfPartnersCapitalAccountAxis" xlink:label="loc_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_0A41A089AEDCFE1FBAE859C47FEABDBA" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_0A41A089AEDCFE1FBAE859C47FEABDBA" xlink:to="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountAxis_0A41A089AEDCFE1FBAE859C47FEABDBA" xlink:type="arc"/>
<link:label id="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain_D804C58482367550A35859C47FEAECFD_terseLabel_en-US" xlink:label="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain_D804C58482367550A35859C47FEAECFD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Partner Type of Partners' Capital Account, Name [Domain] </link:label>
<link:label id="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain_D804C58482367550A35859C47FEAECFD_label_en-US" xlink:label="lab_us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain_D804C58482367550A35859C47FEAECFD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partner Type of Partners' Capital Account, Name [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain" xlink:label="loc_us-gaap_PartnerTypeOfPartnersCapitalAccountNameDomain_D804C58482367550A35859C47FEAECFD" xlink:type="locator"/>
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<link:label id="lab_us-gaap_GeneralPartnerMember_0276E5004F51743734DA59C47FEA8DB0_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralPartnerMember_0276E5004F51743734DA59C47FEA8DB0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> General Partner </link:label>
<link:label id="lab_us-gaap_GeneralPartnerMember_0276E5004F51743734DA59C47FEA8DB0_label_en-US" xlink:label="lab_us-gaap_GeneralPartnerMember_0276E5004F51743734DA59C47FEA8DB0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> General Partner [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GeneralPartnerMember" xlink:label="loc_us-gaap_GeneralPartnerMember_0276E5004F51743734DA59C47FEA8DB0" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralPartnerMember_0276E5004F51743734DA59C47FEA8DB0" xlink:to="lab_us-gaap_GeneralPartnerMember_0276E5004F51743734DA59C47FEA8DB0" xlink:type="arc"/>
<link:label id="lab_us-gaap_LimitedPartnerMember_7DAFC98AD2F208E8358559C47FEAA949_terseLabel_en-US" xlink:label="lab_us-gaap_LimitedPartnerMember_7DAFC98AD2F208E8358559C47FEAA949" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Limited Partner </link:label>
<link:label id="lab_us-gaap_LimitedPartnerMember_7DAFC98AD2F208E8358559C47FEAA949_label_en-US" xlink:label="lab_us-gaap_LimitedPartnerMember_7DAFC98AD2F208E8358559C47FEAA949" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Limited Partner [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LimitedPartnerMember" xlink:label="loc_us-gaap_LimitedPartnerMember_7DAFC98AD2F208E8358559C47FEAA949" xlink:type="locator"/>
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<link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_6ACED6CA072E6734F40759C47FEA2234_terseLabel_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_6ACED6CA072E6734F40759C47FEA2234" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Additional Paid in Capital </link:label>
<link:label id="lab_us-gaap_AdditionalPaidInCapitalMember_6ACED6CA072E6734F40759C47FEA2234_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalMember_6ACED6CA072E6734F40759C47FEA2234" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Additional Paid-in Capital [Member] </link:label>
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<link:label id="lab_acc_CommonStockHeldinRabbiTrustMember_6C3261C8D32950CDFC6259C47FEAEA81_terseLabel_en-US" xlink:label="lab_acc_CommonStockHeldinRabbiTrustMember_6C3261C8D32950CDFC6259C47FEAEA81" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common Shares Held in Rabbi Trust </link:label>
<link:label id="lab_acc_CommonStockHeldinRabbiTrustMember_6C3261C8D32950CDFC6259C47FEAEA81_label_en-US" xlink:label="lab_acc_CommonStockHeldinRabbiTrustMember_6C3261C8D32950CDFC6259C47FEAEA81" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock Held in Rabbi Trust [Member] </link:label>
<link:label id="lab_acc_CommonStockHeldinRabbiTrustMember_6C3261C8D32950CDFC6259C47FEAEA81_documentation_en-US" xlink:label="lab_acc_CommonStockHeldinRabbiTrustMember_6C3261C8D32950CDFC6259C47FEAEA81" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Common Stock Held in Rabbi Trust [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_CommonStockHeldinRabbiTrustMember" xlink:label="loc_acc_CommonStockHeldinRabbiTrustMember_6C3261C8D32950CDFC6259C47FEAEA81" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_CommonStockHeldinRabbiTrustMember_6C3261C8D32950CDFC6259C47FEAEA81" xlink:to="lab_acc_CommonStockHeldinRabbiTrustMember_6C3261C8D32950CDFC6259C47FEAEA81" xlink:type="arc"/>
<link:label id="lab_us-gaap_RetainedEarningsMember_D46571D380571B8EDE9659C47FEA4574_terseLabel_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_D46571D380571B8EDE9659C47FEA4574" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated Earnings and Dividends </link:label>
<link:label id="lab_us-gaap_RetainedEarningsMember_D46571D380571B8EDE9659C47FEA4574_label_en-US" xlink:label="lab_us-gaap_RetainedEarningsMember_D46571D380571B8EDE9659C47FEA4574" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Retained Earnings [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RetainedEarningsMember" xlink:label="loc_us-gaap_RetainedEarningsMember_D46571D380571B8EDE9659C47FEA4574" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RetainedEarningsMember_D46571D380571B8EDE9659C47FEA4574" xlink:to="lab_us-gaap_RetainedEarningsMember_D46571D380571B8EDE9659C47FEA4574" xlink:type="arc"/>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_ECA884D8837EDE26902B59C47FEA7C6A_terseLabel_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_ECA884D8837EDE26902B59C47FEA7C6A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated Other Comprehensive Loss </link:label>
<link:label id="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_ECA884D8837EDE26902B59C47FEA7C6A_label_en-US" xlink:label="lab_us-gaap_AccumulatedOtherComprehensiveIncomeMember_ECA884D8837EDE26902B59C47FEA7C6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> AOCI Attributable to Parent [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeMember" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeMember_ECA884D8837EDE26902B59C47FEA7C6A" xlink:type="locator"/>
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<link:label id="lab_us-gaap_NoncontrollingInterestMember_0BCA73F0FB302E5E217259C47FEA579A_terseLabel_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_0BCA73F0FB302E5E217259C47FEA579A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interests - Partially Owned Properties </link:label>
<link:label id="lab_us-gaap_NoncontrollingInterestMember_0BCA73F0FB302E5E217259C47FEA579A_label_en-US" xlink:label="lab_us-gaap_NoncontrollingInterestMember_0BCA73F0FB302E5E217259C47FEA579A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interest [Member] </link:label>
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<link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A7DDFE71403F5FFE823159C47FEAF03B_terseLabel_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A7DDFE71403F5FFE823159C47FEAF03B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Stockholders' Equity [Roll Forward] </link:label>
<link:label id="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A7DDFE71403F5FFE823159C47FEAF03B_label_en-US" xlink:label="lab_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A7DDFE71403F5FFE823159C47FEAF03B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Increase (Decrease) in Stockholders' Equity [Roll Forward] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncreaseDecreaseInStockholdersEquityRollForward" xlink:label="loc_us-gaap_IncreaseDecreaseInStockholdersEquityRollForward_A7DDFE71403F5FFE823159C47FEAF03B" xlink:type="locator"/>
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<link:label id="lab_us-gaap_SharesOutstanding_36DBDF468C7E7E33A1D259C47FEA0434_periodStartLabel_en-US" xlink:label="lab_us-gaap_SharesOutstanding_36DBDF468C7E7E33A1D259C47FEA0434" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Equity, December 31, 2016 (in shares) </link:label>
<link:label id="lab_us-gaap_SharesOutstanding_36DBDF468C7E7E33A1D259C47FEA0434_label_en-US" xlink:label="lab_us-gaap_SharesOutstanding_36DBDF468C7E7E33A1D259C47FEA0434" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Shares, Outstanding </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="loc_us-gaap_SharesOutstanding_36DBDF468C7E7E33A1D259C47FEA0434" xlink:type="locator"/>
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<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_88685D27EEB7B382CC1359C47FEA619D_periodStartLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_88685D27EEB7B382CC1359C47FEA619D" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Equity, December 31, 2016 </link:label>
<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_88685D27EEB7B382CC1359C47FEA619D_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_88685D27EEB7B382CC1359C47FEA619D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_88685D27EEB7B382CC1359C47FEA619D" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PartnersCapitalAccountUnits_550695F732C9586D51F259C47FEA7532_periodStartLabel_en-US" xlink:label="lab_us-gaap_PartnersCapitalAccountUnits_550695F732C9586D51F259C47FEA7532" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Capital, December 31, 2016 (in units) </link:label>
<link:label id="lab_us-gaap_PartnersCapitalAccountUnits_550695F732C9586D51F259C47FEA7532_label_en-US" xlink:label="lab_us-gaap_PartnersCapitalAccountUnits_550695F732C9586D51F259C47FEA7532" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partners' Capital Account, Units </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartnersCapitalAccountUnits" xlink:label="loc_us-gaap_PartnersCapitalAccountUnits_550695F732C9586D51F259C47FEA7532" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_E554B0A53E1D6DF76A1659C47FEA0CE1_periodStartLabel_en-US" xlink:label="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_E554B0A53E1D6DF76A1659C47FEA0CE1" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Capital, December 31, 2016 </link:label>
<link:label id="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_E554B0A53E1D6DF76A1659C47FEA0CE1_label_en-US" xlink:label="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_E554B0A53E1D6DF76A1659C47FEA0CE1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partners' Capital, Including Portion Attributable to Noncontrolling Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_E554B0A53E1D6DF76A1659C47FEA0CE1" xlink:type="locator"/>
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<link:label id="lab_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_43D21BDA6811E1A437A959C47FEA3740_verboseLabel_en-US" xlink:label="lab_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_43D21BDA6811E1A437A959C47FEA3740" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Adjustments to reflect redeemable limited partners' / noncontrolling interests at fair value </link:label>
<link:label id="lab_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_43D21BDA6811E1A437A959C47FEA3740_label_en-US" xlink:label="lab_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_43D21BDA6811E1A437A959C47FEA3740" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Noncontrolling Interest </link:label>
<link:label id="lab_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_43D21BDA6811E1A437A959C47FEA3740_documentation_en-US" xlink:label="lab_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_43D21BDA6811E1A437A959C47FEA3740" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Adjustments To Additional Paid In Capital Increase In Carrying Amount Of Redeemable Noncontrolling Interest </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest" xlink:label="loc_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_43D21BDA6811E1A437A959C47FEA3740" xlink:type="locator"/>
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<link:label id="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_66C1A802CFD0F12CAA1E59C47FEA73D2_terseLabel_en-US" xlink:label="lab_us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue_66C1A802CFD0F12CAA1E59C47FEA73D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortization of restricted stock awards </link:label>
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<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross_56A4AA2C792B1926678A59C47FEA39CF_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross_56A4AA2C792B1926678A59C47FEA39CF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Vesting of restricted stock awards and restricted stock units (in shares) </link:label>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross_56A4AA2C792B1926678A59C47FEA39CF_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross_56A4AA2C792B1926678A59C47FEA39CF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Shares, Restricted Stock Award, Gross </link:label>
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<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardGross_CF89CDDD0C92EDD9558559C47FEA14DE_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardGross_CF89CDDD0C92EDD9558559C47FEA14DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Vesting of restricted stock awards and restricted stock units </link:label>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardGross_CF89CDDD0C92EDD9558559C47FEA14DE_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardGross_CF89CDDD0C92EDD9558559C47FEA14DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Value, Restricted Stock Award, Gross </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardGross" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardGross_CF89CDDD0C92EDD9558559C47FEA14DE" xlink:type="locator"/>
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<link:label id="lab_us-gaap_Dividends_B9172F9FFC9C8207342659C47FEA9E0C_negatedLabel_en-US" xlink:label="lab_us-gaap_Dividends_B9172F9FFC9C8207342659C47FEA9E0C" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Distributions to common and restricted stockholders </link:label>
<link:label id="lab_us-gaap_Dividends_B9172F9FFC9C8207342659C47FEA9E0C_label_en-US" xlink:label="lab_us-gaap_Dividends_B9172F9FFC9C8207342659C47FEA9E0C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Dividends </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_Dividends" xlink:label="loc_us-gaap_Dividends_B9172F9FFC9C8207342659C47FEA9E0C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_Dividends_B9172F9FFC9C8207342659C47FEA9E0C" xlink:to="lab_us-gaap_Dividends_B9172F9FFC9C8207342659C47FEA9E0C" xlink:type="arc"/>
<link:label id="lab_acc_NoncontrollingInterestDecreaseFromDistributions_7829E98E0CBF68A1D07859C47FEA6B7D_negatedTerseLabel_en-US" xlink:label="lab_acc_NoncontrollingInterestDecreaseFromDistributions_7829E98E0CBF68A1D07859C47FEA6B7D" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Distributions </link:label>
<link:label id="lab_acc_NoncontrollingInterestDecreaseFromDistributions_7829E98E0CBF68A1D07859C47FEA6B7D_label_en-US" xlink:label="lab_acc_NoncontrollingInterestDecreaseFromDistributions_7829E98E0CBF68A1D07859C47FEA6B7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interest, Decrease From Distributions </link:label>
<link:label id="lab_acc_NoncontrollingInterestDecreaseFromDistributions_7829E98E0CBF68A1D07859C47FEA6B7D_documentation_en-US" xlink:label="lab_acc_NoncontrollingInterestDecreaseFromDistributions_7829E98E0CBF68A1D07859C47FEA6B7D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Decrease in noncontrolling interest balance from distribution. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NoncontrollingInterestDecreaseFromDistributions" xlink:label="loc_acc_NoncontrollingInterestDecreaseFromDistributions_7829E98E0CBF68A1D07859C47FEA6B7D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NoncontrollingInterestDecreaseFromDistributions_7829E98E0CBF68A1D07859C47FEA6B7D" xlink:to="lab_acc_NoncontrollingInterestDecreaseFromDistributions_7829E98E0CBF68A1D07859C47FEA6B7D" xlink:type="arc"/>
<link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_B2E3700F8F9E7B2E3C6959C47FEA5ACF_negatedLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_B2E3700F8F9E7B2E3C6959C47FEA5ACF" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Distributions to noncontrolling interests - partially owned properties </link:label>
<link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_B2E3700F8F9E7B2E3C6959C47FEA5ACF_label_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_B2E3700F8F9E7B2E3C6959C47FEA5ACF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_B2E3700F8F9E7B2E3C6959C47FEA5ACF" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_B2E3700F8F9E7B2E3C6959C47FEA5ACF" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_B2E3700F8F9E7B2E3C6959C47FEA5ACF" xlink:type="arc"/>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_9E8CE08151DE2E24846259C47FEAD7F3_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_9E8CE08151DE2E24846259C47FEAD7F3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Conversion of common and preferred operating partnership units to common stock (in shares) </link:label>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_9E8CE08151DE2E24846259C47FEAD7F3_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_9E8CE08151DE2E24846259C47FEAD7F3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Shares, Conversion of Units </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_9E8CE08151DE2E24846259C47FEAD7F3" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_9E8CE08151DE2E24846259C47FEAD7F3" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_9E8CE08151DE2E24846259C47FEAD7F3" xlink:type="arc"/>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_A3D068119D9E9DE7A44D59C47FEA86B5_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_A3D068119D9E9DE7A44D59C47FEA86B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Conversion of common and preferred operating partnership units to common stock </link:label>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_A3D068119D9E9DE7A44D59C47FEA86B5_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_A3D068119D9E9DE7A44D59C47FEA86B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Value, Conversion of Units </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_A3D068119D9E9DE7A44D59C47FEA86B5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_A3D068119D9E9DE7A44D59C47FEA86B5" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_A3D068119D9E9DE7A44D59C47FEA86B5" xlink:type="arc"/>
<link:label id="lab_acc_StockIssuedDuringPeriodSharesPublicOffering_35F3D42CB1763CCE072559C47FEA4BB5_terseLabel_en-US" xlink:label="lab_acc_StockIssuedDuringPeriodSharesPublicOffering_35F3D42CB1763CCE072559C47FEA4BB5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Issuance of units in exchange for contributions of equity offering proceeds (in shares) </link:label>
<link:label id="lab_acc_StockIssuedDuringPeriodSharesPublicOffering_35F3D42CB1763CCE072559C47FEA4BB5_label_en-US" xlink:label="lab_acc_StockIssuedDuringPeriodSharesPublicOffering_35F3D42CB1763CCE072559C47FEA4BB5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period Shares Public Offering </link:label>
<link:label id="lab_acc_StockIssuedDuringPeriodSharesPublicOffering_35F3D42CB1763CCE072559C47FEA4BB5_documentation_en-US" xlink:label="lab_acc_StockIssuedDuringPeriodSharesPublicOffering_35F3D42CB1763CCE072559C47FEA4BB5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of shares issued during the period by an entity in a public offering. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_StockIssuedDuringPeriodSharesPublicOffering" xlink:label="loc_acc_StockIssuedDuringPeriodSharesPublicOffering_35F3D42CB1763CCE072559C47FEA4BB5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_StockIssuedDuringPeriodSharesPublicOffering_35F3D42CB1763CCE072559C47FEA4BB5" xlink:to="lab_acc_StockIssuedDuringPeriodSharesPublicOffering_35F3D42CB1763CCE072559C47FEA4BB5" xlink:type="arc"/>
<link:label id="lab_acc_StockIssuedDuringPeriodValuePublicOffering_DA596859CFE8E7021E9259C47FEA3C09_terseLabel_en-US" xlink:label="lab_acc_StockIssuedDuringPeriodValuePublicOffering_DA596859CFE8E7021E9259C47FEA3C09" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Issuance of units in exchange for contributions of equity offering proceeds </link:label>
<link:label id="lab_acc_StockIssuedDuringPeriodValuePublicOffering_DA596859CFE8E7021E9259C47FEA3C09_label_en-US" xlink:label="lab_acc_StockIssuedDuringPeriodValuePublicOffering_DA596859CFE8E7021E9259C47FEA3C09" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period Value Public Offering </link:label>
<link:label id="lab_acc_StockIssuedDuringPeriodValuePublicOffering_DA596859CFE8E7021E9259C47FEA3C09_documentation_en-US" xlink:label="lab_acc_StockIssuedDuringPeriodValuePublicOffering_DA596859CFE8E7021E9259C47FEA3C09" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Value of stock issued during the period by an entity in a public offering. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_StockIssuedDuringPeriodValuePublicOffering" xlink:label="loc_acc_StockIssuedDuringPeriodValuePublicOffering_DA596859CFE8E7021E9259C47FEA3C09" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_StockIssuedDuringPeriodValuePublicOffering_DA596859CFE8E7021E9259C47FEA3C09" xlink:to="lab_acc_StockIssuedDuringPeriodValuePublicOffering_DA596859CFE8E7021E9259C47FEA3C09" xlink:type="arc"/>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_AFB8E725D6FE494A5ED159C47FEAB2C2_terseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_AFB8E725D6FE494A5ED159C47FEAB2C2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net proceeds from sale of common stock </link:label>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_AFB8E725D6FE494A5ED159C47FEAB2C2_label_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_AFB8E725D6FE494A5ED159C47FEAB2C2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stock Issued During Period, Value, New Issues </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues_AFB8E725D6FE494A5ED159C47FEAB2C2" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueNewIssues_AFB8E725D6FE494A5ED159C47FEAB2C2" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueNewIssues_AFB8E725D6FE494A5ED159C47FEAB2C2" xlink:type="arc"/>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_005C84A4D50190BD2B7F59C47FEAAE90_terseLabel_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_005C84A4D50190BD2B7F59C47FEAAE90" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Change in fair value of interest rate swaps and other </link:label>
<link:label id="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_005C84A4D50190BD2B7F59C47FEAAE90_label_en-US" xlink:label="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_005C84A4D50190BD2B7F59C47FEAAE90" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax" xlink:label="loc_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_005C84A4D50190BD2B7F59C47FEAAE90" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_005C84A4D50190BD2B7F59C47FEAAE90" xlink:to="lab_us-gaap_OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax_005C84A4D50190BD2B7F59C47FEAAE90" xlink:type="arc"/>
<link:label id="lab_acc_AmortizationofDerivativeInstrumentTermination_6DBAB866B92B865712AD59C47FEA81C7_terseLabel_en-US" xlink:label="lab_acc_AmortizationofDerivativeInstrumentTermination_6DBAB866B92B865712AD59C47FEA81C7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amortization of interest rate swap terminations </link:label>
<link:label id="lab_acc_AmortizationofDerivativeInstrumentTermination_6DBAB866B92B865712AD59C47FEA81C7_label_en-US" xlink:label="lab_acc_AmortizationofDerivativeInstrumentTermination_6DBAB866B92B865712AD59C47FEA81C7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Amortization of Derivative Instrument Termination </link:label>
<link:label id="lab_acc_AmortizationofDerivativeInstrumentTermination_6DBAB866B92B865712AD59C47FEA81C7_documentation_en-US" xlink:label="lab_acc_AmortizationofDerivativeInstrumentTermination_6DBAB866B92B865712AD59C47FEA81C7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amortization of Derivative Instrument Termination </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_AmortizationofDerivativeInstrumentTermination" xlink:label="loc_acc_AmortizationofDerivativeInstrumentTermination_6DBAB866B92B865712AD59C47FEA81C7" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_AmortizationofDerivativeInstrumentTermination_6DBAB866B92B865712AD59C47FEA81C7" xlink:to="lab_acc_AmortizationofDerivativeInstrumentTermination_6DBAB866B92B865712AD59C47FEA81C7" xlink:type="arc"/>
<link:label id="lab_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_39C4ADFB73FFB67C8FAC59C47FEA4C44_terseLabel_en-US" xlink:label="lab_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_39C4ADFB73FFB67C8FAC59C47FEA4C44" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Contributions by noncontrolling interest </link:label>
<link:label id="lab_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_39C4ADFB73FFB67C8FAC59C47FEA4C44_label_en-US" xlink:label="lab_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_39C4ADFB73FFB67C8FAC59C47FEA4C44" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interest, Increase from Contributions by Noncontrolling Partners </link:label>
<link:label id="lab_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_39C4ADFB73FFB67C8FAC59C47FEA4C44_documentation_en-US" xlink:label="lab_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_39C4ADFB73FFB67C8FAC59C47FEA4C44" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interest, Increase from Contributions by Noncontrolling Partners </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners" xlink:label="loc_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_39C4ADFB73FFB67C8FAC59C47FEA4C44" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_39C4ADFB73FFB67C8FAC59C47FEA4C44" xlink:to="lab_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_39C4ADFB73FFB67C8FAC59C47FEA4C44" xlink:type="arc"/>
<link:label id="lab_acc_NetIncomeLossExcludingRedeemableNoncontrollingInterest_0FC11DF51470B279F11659C47FEA75A7_terseLabel_en-US" xlink:label="lab_acc_NetIncomeLossExcludingRedeemableNoncontrollingInterest_0FC11DF51470B279F11659C47FEA75A7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net income </link:label>
<link:label id="lab_acc_NetIncomeLossExcludingRedeemableNoncontrollingInterest_0FC11DF51470B279F11659C47FEA75A7_label_en-US" xlink:label="lab_acc_NetIncomeLossExcludingRedeemableNoncontrollingInterest_0FC11DF51470B279F11659C47FEA75A7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Income Loss Excluding Redeemable Noncontrolling Interest </link:label>
<link:label id="lab_acc_NetIncomeLossExcludingRedeemableNoncontrollingInterest_0FC11DF51470B279F11659C47FEA75A7_documentation_en-US" xlink:label="lab_acc_NetIncomeLossExcludingRedeemableNoncontrollingInterest_0FC11DF51470B279F11659C47FEA75A7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest, but excluding the redeemable noncontrolling interest. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NetIncomeLossExcludingRedeemableNoncontrollingInterest" xlink:label="loc_acc_NetIncomeLossExcludingRedeemableNoncontrollingInterest_0FC11DF51470B279F11659C47FEA75A7" xlink:type="locator"/>
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<link:label id="lab_us-gaap_SharesOutstanding_AA63B5665C966103424D59C47FEA63DF_periodEndLabel_en-US" xlink:label="lab_us-gaap_SharesOutstanding_AA63B5665C966103424D59C47FEA63DF" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Equity, September 30, 2017 (in shares) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SharesOutstanding" xlink:label="loc_us-gaap_SharesOutstanding_AA63B5665C966103424D59C47FEA63DF" xlink:type="locator"/>
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<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2F54EB27779AD05C5F1D59C47FEA0CFB_periodEndLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_2F54EB27779AD05C5F1D59C47FEA0CFB" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Equity, September 30, 2017 </link:label>
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<link:label id="lab_us-gaap_PartnersCapitalAccountUnits_F2229B01A7CBF57A605759C47FEA5FA6_periodEndLabel_en-US" xlink:label="lab_us-gaap_PartnersCapitalAccountUnits_F2229B01A7CBF57A605759C47FEA5FA6" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Capital, September 30, 2017 (in units) </link:label>
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<link:label id="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_FE88EDF56F1A09421AA959C47FEAFC41_periodEndLabel_en-US" xlink:label="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_FE88EDF56F1A09421AA959C47FEAFC41" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Capital as of September 30, 2017 </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_FE88EDF56F1A09421AA959C47FEAFC41" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScheduleOfStockByClassTable_7B71B4076A113158528D84B8EDF054CA_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable_CA01E21812395AFE9F1294054D8C70DA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Stock by Class [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfStockByClassTable_7B71B4076A113158528D84B8EDF054CA_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockByClassTable_CA01E21812395AFE9F1294054D8C70DA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Stock by Class [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfStockByClassTable" xlink:label="loc_us-gaap_ScheduleOfStockByClassTable_CA01E21812395AFE9F1294054D8C70DA" xlink:type="locator"/>
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<link:label id="lab_acc_SecondaryOfferingMember_AE4D1F28703C98F686BD84B8EDF0B1A1_terseLabel_en-US" xlink:label="lab_acc_SecondaryOfferingMember_6387970D0C82579688570E4443842B57" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> ATM Equity Program </link:label>
<link:label id="lab_acc_SecondaryOfferingMember_AE4D1F28703C98F686BD84B8EDF0B1A1_label_en-US" xlink:label="lab_acc_SecondaryOfferingMember_6387970D0C82579688570E4443842B57" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Secondary Offering [Member] </link:label>
<link:label id="lab_acc_SecondaryOfferingMember_AE4D1F28703C98F686BD84B8EDF0B1A1_documentation_en-US" xlink:label="lab_acc_SecondaryOfferingMember_6387970D0C82579688570E4443842B57" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Secondary Offering [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_SecondaryOfferingMember" xlink:label="loc_acc_SecondaryOfferingMember_6387970D0C82579688570E4443842B57" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_SecondaryOfferingMember_6387970D0C82579688570E4443842B57" xlink:to="lab_acc_SecondaryOfferingMember_6387970D0C82579688570E4443842B57" xlink:type="arc"/>
<link:label id="lab_us-gaap_ClassOfStockLineItems_B6F422CC05989929FB8F84B8EDF0F293_terseLabel_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems_88B67A6E46C758E988A55BA47EC661DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Class of Stock [Line Items] </link:label>
<link:label id="lab_us-gaap_ClassOfStockLineItems_B6F422CC05989929FB8F84B8EDF0F293_label_en-US" xlink:label="lab_us-gaap_ClassOfStockLineItems_88B67A6E46C758E988A55BA47EC661DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Class of Stock [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ClassOfStockLineItems" xlink:label="loc_us-gaap_ClassOfStockLineItems_88B67A6E46C758E988A55BA47EC661DC" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ClassOfStockLineItems_88B67A6E46C758E988A55BA47EC661DC" xlink:to="lab_us-gaap_ClassOfStockLineItems_88B67A6E46C758E988A55BA47EC661DC" xlink:type="arc"/>
<link:label id="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_A8C063E62FF8DE2D213284B8EDF07872_verboseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromIssuanceOfCommonStock_C933C6CDCBA55A3EBCA4E6BC42B343B0" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Total net proceeds </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:label="loc_us-gaap_ProceedsFromIssuanceOfCommonStock_C933C6CDCBA55A3EBCA4E6BC42B343B0" xlink:type="locator"/>
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<link:label id="lab_us-gaap_PaymentsForCommissions_7F27FFF39AB5831FA53784B8EDF13C31_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsForCommissions_FEAD722844D25B0EA1632CFAEB3ECC34" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commissions paid to sales agents </link:label>
<link:label id="lab_us-gaap_PaymentsForCommissions_7F27FFF39AB5831FA53784B8EDF13C31_label_en-US" xlink:label="lab_us-gaap_PaymentsForCommissions_FEAD722844D25B0EA1632CFAEB3ECC34" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments for Commissions </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PaymentsForCommissions" xlink:label="loc_us-gaap_PaymentsForCommissions_FEAD722844D25B0EA1632CFAEB3ECC34" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PaymentsForCommissions_FEAD722844D25B0EA1632CFAEB3ECC34" xlink:to="lab_us-gaap_PaymentsForCommissions_FEAD722844D25B0EA1632CFAEB3ECC34" xlink:type="arc"/>
<link:label id="lab_acc_ShareOfferingProgramSharesSoldDuringPeriodWeightedAverageSharePrice_2D0489B4BCDE700481BC84B8EDF1410B_terseLabel_en-US" xlink:label="lab_acc_ShareOfferingProgramSharesSoldDuringPeriodWeightedAverageSharePrice_A796D105EBC65FACB878A4A8AE193F0C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Weighted average price per share (in dollars per share) </link:label>
<link:label id="lab_acc_ShareOfferingProgramSharesSoldDuringPeriodWeightedAverageSharePrice_2D0489B4BCDE700481BC84B8EDF1410B_label_en-US" xlink:label="lab_acc_ShareOfferingProgramSharesSoldDuringPeriodWeightedAverageSharePrice_A796D105EBC65FACB878A4A8AE193F0C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share Offering Program, Shares Sold During Period, Weighted Average Share Price </link:label>
<link:label id="lab_acc_ShareOfferingProgramSharesSoldDuringPeriodWeightedAverageSharePrice_2D0489B4BCDE700481BC84B8EDF1410B_documentation_en-US" xlink:label="lab_acc_ShareOfferingProgramSharesSoldDuringPeriodWeightedAverageSharePrice_A796D105EBC65FACB878A4A8AE193F0C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Share Offering Program, Shares Sold During Period, Weighted Average Share Price </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_ShareOfferingProgramSharesSoldDuringPeriodWeightedAverageSharePrice" xlink:label="loc_acc_ShareOfferingProgramSharesSoldDuringPeriodWeightedAverageSharePrice_A796D105EBC65FACB878A4A8AE193F0C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_ShareOfferingProgramSharesSoldDuringPeriodWeightedAverageSharePrice_A796D105EBC65FACB878A4A8AE193F0C" xlink:to="lab_acc_ShareOfferingProgramSharesSoldDuringPeriodWeightedAverageSharePrice_A796D105EBC65FACB878A4A8AE193F0C" xlink:type="arc"/>
<link:label id="lab_acc_ShareOfferingProgramNumberofSharesSoldDuringPeriod_01039A72A322C17167DA84B8EDF1553F_terseLabel_en-US" xlink:label="lab_acc_ShareOfferingProgramNumberofSharesSoldDuringPeriod_F5794D6B3D015ACD804543BB63C27F9A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Shares of common stock sold (in shares) </link:label>
<link:label id="lab_acc_ShareOfferingProgramNumberofSharesSoldDuringPeriod_01039A72A322C17167DA84B8EDF1553F_label_en-US" xlink:label="lab_acc_ShareOfferingProgramNumberofSharesSoldDuringPeriod_F5794D6B3D015ACD804543BB63C27F9A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Share Offering Program, Number of Shares Sold During Period </link:label>
<link:label id="lab_acc_ShareOfferingProgramNumberofSharesSoldDuringPeriod_01039A72A322C17167DA84B8EDF1553F_documentation_en-US" xlink:label="lab_acc_ShareOfferingProgramNumberofSharesSoldDuringPeriod_F5794D6B3D015ACD804543BB63C27F9A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Share Offering Program, Number of Shares Sold During Period </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_ShareOfferingProgramNumberofSharesSoldDuringPeriod" xlink:label="loc_acc_ShareOfferingProgramNumberofSharesSoldDuringPeriod_F5794D6B3D015ACD804543BB63C27F9A" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_DF4CEA683BB418D8532684B8EEC34271_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_F3114853205B5A7A88CBD4B55BC44717" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_DF4CEA683BB418D8532684B8EEC34271_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_F3114853205B5A7A88CBD4B55BC44717" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable" xlink:label="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTable_F3114853205B5A7A88CBD4B55BC44717" xlink:type="locator"/>
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<link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_2768F364B8178451797E84B8EEC3A5BF_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_89D0DFC40A265B1684319FFB7366A408" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Antidilutive Securities [Axis] </link:label>
<link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_2768F364B8178451797E84B8EEC3A5BF_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_89D0DFC40A265B1684319FFB7366A408" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Antidilutive Securities [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis_89D0DFC40A265B1684319FFB7366A408" xlink:type="locator"/>
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<link:label id="lab_us-gaap_AntidilutiveSecuritiesNameDomain_822F39F395B368BB33AE84B8EEC3ED05_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesNameDomain_1B892F6B59325886BCF2E43F8C131B19" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Antidilutive Securities Name [Domain] </link:label>
<link:label id="lab_us-gaap_AntidilutiveSecuritiesNameDomain_822F39F395B368BB33AE84B8EEC3ED05_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesNameDomain_1B892F6B59325886BCF2E43F8C131B19" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Antidilutive Securities, Name [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AntidilutiveSecuritiesNameDomain" xlink:label="loc_us-gaap_AntidilutiveSecuritiesNameDomain_1B892F6B59325886BCF2E43F8C131B19" xlink:type="locator"/>
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<link:label id="lab_acc_CommonUnitsMember_FA6BF06186A0276C52CF84B8EEC34EB8_terseLabel_en-US" xlink:label="lab_acc_CommonUnitsMember_73E9B979C46B5CE58B5F2F8E62B7D83C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common OP Units </link:label>
<link:label id="lab_acc_CommonUnitsMember_FA6BF06186A0276C52CF84B8EEC34EB8_label_en-US" xlink:label="lab_acc_CommonUnitsMember_73E9B979C46B5CE58B5F2F8E62B7D83C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Units [Member] </link:label>
<link:label id="lab_acc_CommonUnitsMember_FA6BF06186A0276C52CF84B8EEC34EB8_documentation_en-US" xlink:label="lab_acc_CommonUnitsMember_73E9B979C46B5CE58B5F2F8E62B7D83C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents information regarding common units. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_CommonUnitsMember" xlink:label="loc_acc_CommonUnitsMember_73E9B979C46B5CE58B5F2F8E62B7D83C" xlink:type="locator"/>
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<link:label id="lab_acc_PreferredUnitsMember_FC66321EEC001CCE1D9A84B8EEC38E2B_terseLabel_en-US" xlink:label="lab_acc_PreferredUnitsMember_01950208EFF952B79E18BCAAE869F102" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Preferred OP Units </link:label>
<link:label id="lab_acc_PreferredUnitsMember_FC66321EEC001CCE1D9A84B8EEC38E2B_label_en-US" xlink:label="lab_acc_PreferredUnitsMember_01950208EFF952B79E18BCAAE869F102" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Units [Member] </link:label>
<link:label id="lab_acc_PreferredUnitsMember_FC66321EEC001CCE1D9A84B8EEC38E2B_documentation_en-US" xlink:label="lab_acc_PreferredUnitsMember_01950208EFF952B79E18BCAAE869F102" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents information regarding preferred units. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_PreferredUnitsMember" xlink:label="loc_acc_PreferredUnitsMember_01950208EFF952B79E18BCAAE869F102" xlink:type="locator"/>
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<link:label id="lab_us-gaap_RestrictedStockMember_3E16CB846AD26FA5F01A84B8EEC3F76B_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedStockMember_72B01D062CDB57F492684C715255EC91" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unvested Restricted Stock Awards </link:label>
<link:label id="lab_us-gaap_RestrictedStockMember_3E16CB846AD26FA5F01A84B8EEC3F76B_label_en-US" xlink:label="lab_us-gaap_RestrictedStockMember_72B01D062CDB57F492684C715255EC91" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restricted Stock [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedStockMember" xlink:label="loc_us-gaap_RestrictedStockMember_72B01D062CDB57F492684C715255EC91" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedStockMember_72B01D062CDB57F492684C715255EC91" xlink:to="lab_us-gaap_RestrictedStockMember_72B01D062CDB57F492684C715255EC91" xlink:type="arc"/>
<link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_351EE1411BB0A8422AEA84B8EEC3C566_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_CCF388DABBB5584194AD6DD9C60CAAA8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] </link:label>
<link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_351EE1411BB0A8422AEA84B8EEC3C566_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_CCF388DABBB5584194AD6DD9C60CAAA8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_CCF388DABBB5584194AD6DD9C60CAAA8" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_CCF388DABBB5584194AD6DD9C60CAAA8" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems_CCF388DABBB5584194AD6DD9C60CAAA8" xlink:type="arc"/>
<link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_97448BC98815908EE4A484B8EEC3D40B_terseLabel_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_251B3A45D2F05549B1C923BF98A55B73" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Potential dilutive securities (in shares) </link:label>
<link:label id="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_97448BC98815908EE4A484B8EEC3D40B_label_en-US" xlink:label="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_251B3A45D2F05549B1C923BF98A55B73" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount" xlink:label="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_251B3A45D2F05549B1C923BF98A55B73" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_251B3A45D2F05549B1C923BF98A55B73" xlink:to="lab_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_251B3A45D2F05549B1C923BF98A55B73" xlink:type="arc"/>
<link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_0B16D0C98F53D82ECE2E84B8EECA2522_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_5E774026A3E55207829E718040B8E45D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule Of Property Plant and Equipment [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_0B16D0C98F53D82ECE2E84B8EECA2522_label_en-US" xlink:label="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_5E774026A3E55207829E718040B8E45D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:label="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_5E774026A3E55207829E718040B8E45D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_5E774026A3E55207829E718040B8E45D" xlink:to="lab_us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_5E774026A3E55207829E718040B8E45D" xlink:type="arc"/>
<link:label id="lab_acc_RealEstatePropertyClassAxis_47DD15E6E263112D156B84B8EECA1EA8_terseLabel_en-US" xlink:label="lab_acc_RealEstatePropertyClassAxis_2359EED7455D5E4FAE7EE320F717506F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Real Estate Property Class [Axis] </link:label>
<link:label id="lab_acc_RealEstatePropertyClassAxis_47DD15E6E263112D156B84B8EECA1EA8_label_en-US" xlink:label="lab_acc_RealEstatePropertyClassAxis_2359EED7455D5E4FAE7EE320F717506F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Property Class [Axis] </link:label>
<link:label id="lab_acc_RealEstatePropertyClassAxis_47DD15E6E263112D156B84B8EECA1EA8_documentation_en-US" xlink:label="lab_acc_RealEstatePropertyClassAxis_2359EED7455D5E4FAE7EE320F717506F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information about real estate classes used to group the loan on real estate. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_RealEstatePropertyClassAxis" xlink:label="loc_acc_RealEstatePropertyClassAxis_2359EED7455D5E4FAE7EE320F717506F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_RealEstatePropertyClassAxis_2359EED7455D5E4FAE7EE320F717506F" xlink:to="lab_acc_RealEstatePropertyClassAxis_2359EED7455D5E4FAE7EE320F717506F" xlink:type="arc"/>
<link:label id="lab_acc_RealEstatePropertyClassDomain_4F55D09770B27764A4AB84B8EECAAFD6_terseLabel_en-US" xlink:label="lab_acc_RealEstatePropertyClassDomain_E851B4F13FB85D0E8DCE656F32E0BA8D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Real Estate Property Class [Domain] </link:label>
<link:label id="lab_acc_RealEstatePropertyClassDomain_4F55D09770B27764A4AB84B8EECAAFD6_label_en-US" xlink:label="lab_acc_RealEstatePropertyClassDomain_E851B4F13FB85D0E8DCE656F32E0BA8D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Property Class [Domain] </link:label>
<link:label id="lab_acc_RealEstatePropertyClassDomain_4F55D09770B27764A4AB84B8EECAAFD6_documentation_en-US" xlink:label="lab_acc_RealEstatePropertyClassDomain_E851B4F13FB85D0E8DCE656F32E0BA8D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Represents information about real estate classes used to group the loan on real estate. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_RealEstatePropertyClassDomain" xlink:label="loc_acc_RealEstatePropertyClassDomain_E851B4F13FB85D0E8DCE656F32E0BA8D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_RealEstatePropertyClassDomain_E851B4F13FB85D0E8DCE656F32E0BA8D" xlink:to="lab_acc_RealEstatePropertyClassDomain_E851B4F13FB85D0E8DCE656F32E0BA8D" xlink:type="arc"/>
<link:label id="lab_us-gaap_RangeAxis_79C008EBB346B8B0A93D84B8EECA4B88_terseLabel_en-US" xlink:label="lab_us-gaap_RangeAxis_C7C50F902273507FB4D6889B31AA774D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Range [Axis] </link:label>
<link:label id="lab_us-gaap_RangeAxis_79C008EBB346B8B0A93D84B8EECA4B88_label_en-US" xlink:label="lab_us-gaap_RangeAxis_C7C50F902273507FB4D6889B31AA774D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Range [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RangeAxis" xlink:label="loc_us-gaap_RangeAxis_C7C50F902273507FB4D6889B31AA774D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RangeAxis_C7C50F902273507FB4D6889B31AA774D" xlink:to="lab_us-gaap_RangeAxis_C7C50F902273507FB4D6889B31AA774D" xlink:type="arc"/>
<link:label id="lab_us-gaap_RangeMember_FA8B43D29E0939D0324D84B8EECA3954_terseLabel_en-US" xlink:label="lab_us-gaap_RangeMember_6449153F7BFD53FE815769E5D78B41B3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Range [Domain] </link:label>
<link:label id="lab_us-gaap_RangeMember_FA8B43D29E0939D0324D84B8EECA3954_label_en-US" xlink:label="lab_us-gaap_RangeMember_6449153F7BFD53FE815769E5D78B41B3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Range [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RangeMember" xlink:label="loc_us-gaap_RangeMember_6449153F7BFD53FE815769E5D78B41B3" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RangeMember_6449153F7BFD53FE815769E5D78B41B3" xlink:to="lab_us-gaap_RangeMember_6449153F7BFD53FE815769E5D78B41B3" xlink:type="arc"/>
<link:label id="lab_us-gaap_MinimumMember_94F476C3A9FE61A4224B84B8EECACC1D_terseLabel_en-US" xlink:label="lab_us-gaap_MinimumMember_9F59030DAB4D5E11B081084CD1E82220" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Minimum </link:label>
<link:label id="lab_us-gaap_MinimumMember_94F476C3A9FE61A4224B84B8EECACC1D_label_en-US" xlink:label="lab_us-gaap_MinimumMember_9F59030DAB4D5E11B081084CD1E82220" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Minimum [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MinimumMember" xlink:label="loc_us-gaap_MinimumMember_9F59030DAB4D5E11B081084CD1E82220" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinimumMember_9F59030DAB4D5E11B081084CD1E82220" xlink:to="lab_us-gaap_MinimumMember_9F59030DAB4D5E11B081084CD1E82220" xlink:type="arc"/>
<link:label id="lab_us-gaap_MaximumMember_C01953F6B3F7A5B9882084B8EECA8D3C_terseLabel_en-US" xlink:label="lab_us-gaap_MaximumMember_41C23D34402A5BB2A2CADDA39ECEB2B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Maximum </link:label>
<link:label id="lab_us-gaap_MaximumMember_C01953F6B3F7A5B9882084B8EECA8D3C_label_en-US" xlink:label="lab_us-gaap_MaximumMember_41C23D34402A5BB2A2CADDA39ECEB2B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Maximum [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MaximumMember" xlink:label="loc_us-gaap_MaximumMember_41C23D34402A5BB2A2CADDA39ECEB2B2" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MaximumMember_41C23D34402A5BB2A2CADDA39ECEB2B2" xlink:to="lab_us-gaap_MaximumMember_41C23D34402A5BB2A2CADDA39ECEB2B2" xlink:type="arc"/>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_59779004C10084D8E79C84B8EECAFE37_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_93841FC5848254169C5E2C8FA73E265E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Type [Axis] </link:label>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_59779004C10084D8E79C84B8EECAFE37_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_93841FC5848254169C5E2C8FA73E265E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Type [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_93841FC5848254169C5E2C8FA73E265E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentByTypeAxis_93841FC5848254169C5E2C8FA73E265E" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentByTypeAxis_93841FC5848254169C5E2C8FA73E265E" xlink:type="arc"/>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_C68946209A49FB16844F84B8EECB2233_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_4CDC438AF22B550A92C6E6147633CA25" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Type [Domain] </link:label>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_C68946209A49FB16844F84B8EECB2233_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_4CDC438AF22B550A92C6E6147633CA25" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Type [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_4CDC438AF22B550A92C6E6147633CA25" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentTypeDomain_4CDC438AF22B550A92C6E6147633CA25" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentTypeDomain_4CDC438AF22B550A92C6E6147633CA25" xlink:type="arc"/>
<link:label id="lab_us-gaap_BuildingAndBuildingImprovementsMember_6D9D53A7F1ECCF405D0F84B8EECBA861_terseLabel_en-US" xlink:label="lab_us-gaap_BuildingAndBuildingImprovementsMember_D3262C34B1B057F08C42CC08B00B6EAE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Buildings and improvements </link:label>
<link:label id="lab_us-gaap_BuildingAndBuildingImprovementsMember_6D9D53A7F1ECCF405D0F84B8EECBA861_label_en-US" xlink:label="lab_us-gaap_BuildingAndBuildingImprovementsMember_D3262C34B1B057F08C42CC08B00B6EAE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Building and Building Improvements [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BuildingAndBuildingImprovementsMember" xlink:label="loc_us-gaap_BuildingAndBuildingImprovementsMember_D3262C34B1B057F08C42CC08B00B6EAE" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BuildingAndBuildingImprovementsMember_D3262C34B1B057F08C42CC08B00B6EAE" xlink:to="lab_us-gaap_BuildingAndBuildingImprovementsMember_D3262C34B1B057F08C42CC08B00B6EAE" xlink:type="arc"/>
<link:label id="lab_us-gaap_LeaseholdsAndLeaseholdImprovementsMember_00B00DC5EFD4CF817EA284B8EECB0E2E_terseLabel_en-US" xlink:label="lab_us-gaap_LeaseholdsAndLeaseholdImprovementsMember_C09011C56D1D512BB9096E915B1D263F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Leasehold interest </link:label>
<link:label id="lab_us-gaap_LeaseholdsAndLeaseholdImprovementsMember_00B00DC5EFD4CF817EA284B8EECB0E2E_label_en-US" xlink:label="lab_us-gaap_LeaseholdsAndLeaseholdImprovementsMember_C09011C56D1D512BB9096E915B1D263F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Leaseholds and Leasehold Improvements [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LeaseholdsAndLeaseholdImprovementsMember" xlink:label="loc_us-gaap_LeaseholdsAndLeaseholdImprovementsMember_C09011C56D1D512BB9096E915B1D263F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseholdsAndLeaseholdImprovementsMember_C09011C56D1D512BB9096E915B1D263F" xlink:to="lab_us-gaap_LeaseholdsAndLeaseholdImprovementsMember_C09011C56D1D512BB9096E915B1D263F" xlink:type="arc"/>
<link:label id="lab_acc_FurnitureFixturesandEquipmentMember_E2CEDFA5200BB14D44DC84B8EECB7770_terseLabel_en-US" xlink:label="lab_acc_FurnitureFixturesandEquipmentMember_38484CFEB23D5EB7B92B2199E0A75F89" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Furniture, fixtures and equipment </link:label>
<link:label id="lab_acc_FurnitureFixturesandEquipmentMember_E2CEDFA5200BB14D44DC84B8EECB7770_label_en-US" xlink:label="lab_acc_FurnitureFixturesandEquipmentMember_38484CFEB23D5EB7B92B2199E0A75F89" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Furniture, Fixtures and Equipment [Member] </link:label>
<link:label id="lab_acc_FurnitureFixturesandEquipmentMember_E2CEDFA5200BB14D44DC84B8EECB7770_documentation_en-US" xlink:label="lab_acc_FurnitureFixturesandEquipmentMember_38484CFEB23D5EB7B92B2199E0A75F89" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Equipment commonly used in offices and stores that have no permanent connection to the structure of a building or utilities. Examples include, but are not limited to, desks, chairs, tables, and bookcases and other equipments. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_FurnitureFixturesandEquipmentMember" xlink:label="loc_acc_FurnitureFixturesandEquipmentMember_38484CFEB23D5EB7B92B2199E0A75F89" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_FurnitureFixturesandEquipmentMember_38484CFEB23D5EB7B92B2199E0A75F89" xlink:to="lab_acc_FurnitureFixturesandEquipmentMember_38484CFEB23D5EB7B92B2199E0A75F89" xlink:type="arc"/>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_05B80109E1677A919F7784B8EECBF2D7_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems_890128A0A1225ADEB31EFDC1011A3DBC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment [Line Items] </link:label>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentLineItems_05B80109E1677A919F7784B8EECBF2D7_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentLineItems_890128A0A1225ADEB31EFDC1011A3DBC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentLineItems" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentLineItems_890128A0A1225ADEB31EFDC1011A3DBC" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentLineItems_890128A0A1225ADEB31EFDC1011A3DBC" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentLineItems_890128A0A1225ADEB31EFDC1011A3DBC" xlink:type="arc"/>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_0E625F72117B944FAF0884B8EECB3F9F_verboseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_B2C587317C59517CBA7403FCC37E5F71" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Estimated useful life </link:label>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_0E625F72117B944FAF0884B8EECB3F9F_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_B2C587317C59517CBA7403FCC37E5F71" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment, Useful Life </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:label="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife_B2C587317C59517CBA7403FCC37E5F71" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PropertyPlantAndEquipmentUsefulLife_B2C587317C59517CBA7403FCC37E5F71" xlink:to="lab_us-gaap_PropertyPlantAndEquipmentUsefulLife_B2C587317C59517CBA7403FCC37E5F71" xlink:type="arc"/>
<link:label id="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_28546847E720BE365DD784B8EEA13E19_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_35352E1DDB73566CA7407E7205DD2A31" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Disposal groups </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable" xlink:label="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_35352E1DDB73566CA7407E7205DD2A31" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_35352E1DDB73566CA7407E7205DD2A31" xlink:to="lab_us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsTable_35352E1DDB73566CA7407E7205DD2A31" xlink:type="arc"/>
<link:label id="lab_us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_AAB34C28CE3C8C659A2684B8EEA115CB_terseLabel_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_4B71AEDE5B74501B84834DAAD1B60509" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Discontinued Operations, Disposed of by Sale </link:label>
<link:label id="lab_us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_AAB34C28CE3C8C659A2684B8EEA115CB_label_en-US" xlink:label="lab_us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_4B71AEDE5B74501B84834DAAD1B60509" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Discontinued Operations, Disposed of by Sale [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DiscontinuedOperationsDisposedOfBySaleMember" xlink:label="loc_us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_4B71AEDE5B74501B84834DAAD1B60509" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_4B71AEDE5B74501B84834DAAD1B60509" xlink:to="lab_us-gaap_DiscontinuedOperationsDisposedOfBySaleMember_4B71AEDE5B74501B84834DAAD1B60509" xlink:type="arc"/>
<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_203034B5DAA3E9CB3A3C84B8EEA140BB_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_1233AD0868735961BB675C715F89F801" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Sale price of disposed property </link:label>
<link:label id="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_203034B5DAA3E9CB3A3C84B8EEA140BB_label_en-US" xlink:label="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_1233AD0868735961BB675C715F89F801" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Group, Including Discontinued Operation, Consideration </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration" xlink:label="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_1233AD0868735961BB675C715F89F801" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_1233AD0868735961BB675C715F89F801" xlink:to="lab_us-gaap_DisposalGroupIncludingDiscontinuedOperationConsideration_1233AD0868735961BB675C715F89F801" xlink:type="arc"/>
<link:label id="lab_acc_NumberOfPropertiesSold_EA873B66EE94A9D12CF884B8EEA2FC75_terseLabel_en-US" xlink:label="lab_acc_NumberOfPropertiesSold_9ABE6F92B89C5A9391D88DFD9B66FDB3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of properties sold </link:label>
<link:label id="lab_acc_NumberOfPropertiesSold_EA873B66EE94A9D12CF884B8EEA2FC75_label_en-US" xlink:label="lab_acc_NumberOfPropertiesSold_9ABE6F92B89C5A9391D88DFD9B66FDB3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number Of Properties Sold </link:label>
<link:label id="lab_acc_NumberOfPropertiesSold_EA873B66EE94A9D12CF884B8EEA2FC75_documentation_en-US" xlink:label="lab_acc_NumberOfPropertiesSold_9ABE6F92B89C5A9391D88DFD9B66FDB3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents number of properties sold. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberOfPropertiesSold" xlink:label="loc_acc_NumberOfPropertiesSold_9ABE6F92B89C5A9391D88DFD9B66FDB3" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberOfPropertiesSold_9ABE6F92B89C5A9391D88DFD9B66FDB3" xlink:to="lab_acc_NumberOfPropertiesSold_9ABE6F92B89C5A9391D88DFD9B66FDB3" xlink:type="arc"/>
<link:label id="lab_acc_NumberofBedsinPropertiesSold_396190ABC2CB6277D11484B8EEA2FA9C_terseLabel_en-US" xlink:label="lab_acc_NumberofBedsinPropertiesSold_365009DE5E74549E987F6D9F4AA9DC1E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of beds in properties sold </link:label>
<link:label id="lab_acc_NumberofBedsinPropertiesSold_396190ABC2CB6277D11484B8EEA2FA9C_label_en-US" xlink:label="lab_acc_NumberofBedsinPropertiesSold_365009DE5E74549E987F6D9F4AA9DC1E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of Beds in Properties Sold </link:label>
<link:label id="lab_acc_NumberofBedsinPropertiesSold_396190ABC2CB6277D11484B8EEA2FA9C_documentation_en-US" xlink:label="lab_acc_NumberofBedsinPropertiesSold_365009DE5E74549E987F6D9F4AA9DC1E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of Beds in Properties Sold </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberofBedsinPropertiesSold" xlink:label="loc_acc_NumberofBedsinPropertiesSold_365009DE5E74549E987F6D9F4AA9DC1E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberofBedsinPropertiesSold_365009DE5E74549E987F6D9F4AA9DC1E" xlink:to="lab_acc_NumberofBedsinPropertiesSold_365009DE5E74549E987F6D9F4AA9DC1E" xlink:type="arc"/>
<link:label id="lab_us-gaap_StatementOfFinancialPositionAbstract_20DE680960BE3585CAD8A9D2B5110318_label_en-US" xlink:label="lab_us-gaap_StatementOfFinancialPositionAbstract_8DF102619B00523A98180DC3A64068CD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Statement of Financial Position [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:label="loc_us-gaap_StatementOfFinancialPositionAbstract_8DF102619B00523A98180DC3A64068CD" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StatementOfFinancialPositionAbstract_8DF102619B00523A98180DC3A64068CD" xlink:to="lab_us-gaap_StatementOfFinancialPositionAbstract_8DF102619B00523A98180DC3A64068CD" xlink:type="arc"/>
<link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_0C6107670BF91EE27941A9D2B515D080_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare_A1D050EF3CA2584B8F0F59FD3C8C0996" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock, par value (in dollars per share) </link:label>
<link:label id="lab_us-gaap_CommonStockParOrStatedValuePerShare_0C6107670BF91EE27941A9D2B515D080_label_en-US" xlink:label="lab_us-gaap_CommonStockParOrStatedValuePerShare_A1D050EF3CA2584B8F0F59FD3C8C0996" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Par or Stated Value Per Share </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:label="loc_us-gaap_CommonStockParOrStatedValuePerShare_A1D050EF3CA2584B8F0F59FD3C8C0996" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockParOrStatedValuePerShare_A1D050EF3CA2584B8F0F59FD3C8C0996" xlink:to="lab_us-gaap_CommonStockParOrStatedValuePerShare_A1D050EF3CA2584B8F0F59FD3C8C0996" xlink:type="arc"/>
<link:label id="lab_us-gaap_CommonStockSharesAuthorized_C08050DBD9601F96E00CA9D2B5153E83_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized_1E1C09087A7656DDACC44AAEB042B112" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock, shares authorized (in shares) </link:label>
<link:label id="lab_us-gaap_CommonStockSharesAuthorized_C08050DBD9601F96E00CA9D2B5153E83_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesAuthorized_1E1C09087A7656DDACC44AAEB042B112" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Shares Authorized </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:label="loc_us-gaap_CommonStockSharesAuthorized_1E1C09087A7656DDACC44AAEB042B112" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesAuthorized_1E1C09087A7656DDACC44AAEB042B112" xlink:to="lab_us-gaap_CommonStockSharesAuthorized_1E1C09087A7656DDACC44AAEB042B112" xlink:type="arc"/>
<link:label id="lab_us-gaap_CommonStockSharesIssued_54F7707446C92FE5AEE6A9D2B51514A0_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_9747409E128850489436F53674FB8E6E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock, shares issued (in shares) </link:label>
<link:label id="lab_us-gaap_CommonStockSharesIssued_54F7707446C92FE5AEE6A9D2B51514A0_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesIssued_9747409E128850489436F53674FB8E6E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Shares, Issued </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:label="loc_us-gaap_CommonStockSharesIssued_9747409E128850489436F53674FB8E6E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesIssued_9747409E128850489436F53674FB8E6E" xlink:to="lab_us-gaap_CommonStockSharesIssued_9747409E128850489436F53674FB8E6E" xlink:type="arc"/>
<link:label id="lab_us-gaap_CommonStockSharesOutstanding_45D7CF326CD2A56835B8A9D2B515DC56_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding_A6C53485E0B854D4B2FF64E816309D84" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock, shares outstanding (in shares) </link:label>
<link:label id="lab_us-gaap_CommonStockSharesOutstanding_45D7CF326CD2A56835B8A9D2B515DC56_label_en-US" xlink:label="lab_us-gaap_CommonStockSharesOutstanding_A6C53485E0B854D4B2FF64E816309D84" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Shares, Outstanding </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:label="loc_us-gaap_CommonStockSharesOutstanding_A6C53485E0B854D4B2FF64E816309D84" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommonStockSharesOutstanding_A6C53485E0B854D4B2FF64E816309D84" xlink:to="lab_us-gaap_CommonStockSharesOutstanding_A6C53485E0B854D4B2FF64E816309D84" xlink:type="arc"/>
<link:label id="lab_us-gaap_TreasuryStockShares_42A7845EB2FD9FF6D4FCA9D2B8A4EF06_terseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockShares_667E62DDDFA95E61A5FE00A79C4B032D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock held in Rabbi Trust (in shares) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TreasuryStockShares" xlink:label="loc_us-gaap_TreasuryStockShares_667E62DDDFA95E61A5FE00A79C4B032D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TreasuryStockShares_667E62DDDFA95E61A5FE00A79C4B032D" xlink:to="lab_us-gaap_TreasuryStockShares_667E62DDDFA95E61A5FE00A79C4B032D" xlink:type="arc"/>
<link:label id="lab_us-gaap_GeneralPartnersCapitalAccountUnitsOutstanding_B3499BD6B7B45D57A118A9D2B51509F6_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralPartnersCapitalAccountUnitsOutstanding_7B5314FD5B605526BA83B11D54FF4DE1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> General partner, OP units outstanding (in shares) </link:label>
<link:label id="lab_us-gaap_GeneralPartnersCapitalAccountUnitsOutstanding_B3499BD6B7B45D57A118A9D2B51509F6_label_en-US" xlink:label="lab_us-gaap_GeneralPartnersCapitalAccountUnitsOutstanding_7B5314FD5B605526BA83B11D54FF4DE1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> General Partners' Capital Account, Units Outstanding </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GeneralPartnersCapitalAccountUnitsOutstanding" xlink:label="loc_us-gaap_GeneralPartnersCapitalAccountUnitsOutstanding_7B5314FD5B605526BA83B11D54FF4DE1" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralPartnersCapitalAccountUnitsOutstanding_7B5314FD5B605526BA83B11D54FF4DE1" xlink:to="lab_us-gaap_GeneralPartnersCapitalAccountUnitsOutstanding_7B5314FD5B605526BA83B11D54FF4DE1" xlink:type="arc"/>
<link:label id="lab_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_8224E60C05E0B3AB4FB2A9D2B5153FDE_terseLabel_en-US" xlink:label="lab_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_4E489B6632F350D2807999E1DFDD0857" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Limited partner, OP units outstanding (in shares) </link:label>
<link:label id="lab_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_8224E60C05E0B3AB4FB2A9D2B5153FDE_label_en-US" xlink:label="lab_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_4E489B6632F350D2807999E1DFDD0857" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Limited Partners' Capital Account, Units Outstanding </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding" xlink:label="loc_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_4E489B6632F350D2807999E1DFDD0857" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_4E489B6632F350D2807999E1DFDD0857" xlink:to="lab_us-gaap_LimitedPartnersCapitalAccountUnitsOutstanding_4E489B6632F350D2807999E1DFDD0857" xlink:type="arc"/>
<link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable_4E9D6F4BA6031DF4D4143088C130DB7A_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable_4E9D6F4BA6031DF4D4143088C130DB7A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Earnings Per Share [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable_4E9D6F4BA6031DF4D4143088C130DB7A_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable_4E9D6F4BA6031DF4D4143088C130DB7A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable" xlink:label="loc_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable_4E9D6F4BA6031DF4D4143088C130DB7A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable_4E9D6F4BA6031DF4D4143088C130DB7A" xlink:to="lab_us-gaap_ScheduleOfEarningsPerShareBasicByCommonClassTable_4E9D6F4BA6031DF4D4143088C130DB7A" xlink:type="arc"/>
<link:label id="lab_acc_RestrictedStockAwardsMember_D99710A782E3A5D3CAFB3088C1300AE7_verboseLabel_en-US" xlink:label="lab_acc_RestrictedStockAwardsMember_D99710A782E3A5D3CAFB3088C1300AE7" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Unvested Restricted Stock Awards </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_RestrictedStockAwardsMember" xlink:label="loc_acc_RestrictedStockAwardsMember_D99710A782E3A5D3CAFB3088C1300AE7" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_RestrictedStockAwardsMember_D99710A782E3A5D3CAFB3088C1300AE7" xlink:to="lab_acc_RestrictedStockAwardsMember_D99710A782E3A5D3CAFB3088C1300AE7" xlink:type="arc"/>
<link:label id="lab_us-gaap_EarningsPerShareBasicLineItems_2043A0E4D9B3DCF653143088C1300573_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicLineItems_2043A0E4D9B3DCF653143088C1300573" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Earnings Per Share [Line Items] </link:label>
<link:label id="lab_us-gaap_EarningsPerShareBasicLineItems_2043A0E4D9B3DCF653143088C1300573_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicLineItems_2043A0E4D9B3DCF653143088C1300573" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EarningsPerShareBasicLineItems" xlink:label="loc_us-gaap_EarningsPerShareBasicLineItems_2043A0E4D9B3DCF653143088C1300573" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareBasicLineItems_2043A0E4D9B3DCF653143088C1300573" xlink:to="lab_us-gaap_EarningsPerShareBasicLineItems_2043A0E4D9B3DCF653143088C1300573" xlink:type="arc"/>
<link:label id="lab_us-gaap_EarningsPerShareAbstract_9CC790BFB978B29437D63088C130F812_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract_9CC790BFB978B29437D63088C130F812" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Numerator – basic and diluted earnings per share: </link:label>
<link:label id="lab_us-gaap_EarningsPerShareAbstract_9CC790BFB978B29437D63088C130F812_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareAbstract_9CC790BFB978B29437D63088C130F812" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Earnings Per Share [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EarningsPerShareAbstract" xlink:label="loc_us-gaap_EarningsPerShareAbstract_9CC790BFB978B29437D63088C130F812" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EarningsPerShareAbstract_9CC790BFB978B29437D63088C130F812" xlink:to="lab_us-gaap_EarningsPerShareAbstract_9CC790BFB978B29437D63088C130F812" xlink:type="arc"/>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_77B79B8E766EF5B507333088C131229C_terseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_77B79B8E766EF5B507333088C131229C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net (loss) income </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_77B79B8E766EF5B507333088C131229C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_77B79B8E766EF5B507333088C131229C" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest_77B79B8E766EF5B507333088C131229C" xlink:type="arc"/>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_A98F855B9925A0A985AE3088C1315F93_negatedLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_A98F855B9925A0A985AE3088C1315F93" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Net income attributable to noncontrolling interests </link:label>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_A98F855B9925A0A985AE3088C1315F93_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_A98F855B9925A0A985AE3088C1315F93" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_A98F855B9925A0A985AE3088C1315F93" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_A98F855B9925A0A985AE3088C1315F93" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_A98F855B9925A0A985AE3088C1315F93" xlink:type="arc"/>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperations_EB57E43D1BD9A7CDF49C3088C131426A_totalLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperations_EB57E43D1BD9A7CDF49C3088C131426A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net (loss) income attributable to common stockholders </link:label>
<link:label id="lab_us-gaap_IncomeLossFromContinuingOperations_EB57E43D1BD9A7CDF49C3088C131426A_label_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperations_EB57E43D1BD9A7CDF49C3088C131426A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeLossFromContinuingOperations" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperations_EB57E43D1BD9A7CDF49C3088C131426A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperations_EB57E43D1BD9A7CDF49C3088C131426A" xlink:to="lab_us-gaap_IncomeLossFromContinuingOperations_EB57E43D1BD9A7CDF49C3088C131426A" xlink:type="arc"/>
<link:label id="lab_acc_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_2F4F2963B6254777973B3088C1312E8B_negatedLabel_en-US" xlink:label="lab_acc_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_2F4F2963B6254777973B3088C1312E8B" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Amount allocated to participating securities </link:label>
<link:label id="lab_acc_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_2F4F2963B6254777973B3088C1312E8B_label_en-US" xlink:label="lab_acc_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_2F4F2963B6254777973B3088C1312E8B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Undistributed Earnings (Loss) Allocated to Participating Securities, Basic and Diluted </link:label>
<link:label id="lab_acc_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_2F4F2963B6254777973B3088C1312E8B_documentation_en-US" xlink:label="lab_acc_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_2F4F2963B6254777973B3088C1312E8B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Undistributed Earnings (Loss) Allocated to Participating Securities, Basic and Diluted </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted" xlink:label="loc_acc_UndistributedEarningsLossAllocatedtoParticipatingSecuritiesBasicandDiluted_2F4F2963B6254777973B3088C1312E8B" xlink:type="locator"/>
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<link:label id="lab_acc_IncomeLossFromContinuingOperationsAttributableToParentNetOfAmountAllocatedToParticipatingSecurities_3805716309F4E8B7CC373088C131FE6A_totalLabel_en-US" xlink:label="lab_acc_IncomeLossFromContinuingOperationsAttributableToParentNetOfAmountAllocatedToParticipatingSecurities_3805716309F4E8B7CC373088C131FE6A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Net (loss) income attributable to common unitholders </link:label>
<link:label id="lab_acc_IncomeLossFromContinuingOperationsAttributableToParentNetOfAmountAllocatedToParticipatingSecurities_3805716309F4E8B7CC373088C131FE6A_label_en-US" xlink:label="lab_acc_IncomeLossFromContinuingOperationsAttributableToParentNetOfAmountAllocatedToParticipatingSecurities_3805716309F4E8B7CC373088C131FE6A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Income Loss From Continuing Operations Attributable To Parent Net Of Amount Allocated To Participating Securities </link:label>
<link:label id="lab_acc_IncomeLossFromContinuingOperationsAttributableToParentNetOfAmountAllocatedToParticipatingSecurities_3805716309F4E8B7CC373088C131FE6A_documentation_en-US" xlink:label="lab_acc_IncomeLossFromContinuingOperationsAttributableToParentNetOfAmountAllocatedToParticipatingSecurities_3805716309F4E8B7CC373088C131FE6A" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents income (loss) from continuing operations attributable to parent, net of amount allocated to participating securities. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_IncomeLossFromContinuingOperationsAttributableToParentNetOfAmountAllocatedToParticipatingSecurities" xlink:label="loc_acc_IncomeLossFromContinuingOperationsAttributableToParentNetOfAmountAllocatedToParticipatingSecurities_3805716309F4E8B7CC373088C131FE6A" xlink:type="locator"/>
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<link:label id="lab_acc_DenominatorAbstract_C8B79F8CB82B376852383088C1315A30_verboseLabel_en-US" xlink:label="lab_acc_DenominatorAbstract_C8B79F8CB82B376852383088C1315A30" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Denominator: </link:label>
<link:label id="lab_acc_DenominatorAbstract_C8B79F8CB82B376852383088C1315A30_label_en-US" xlink:label="lab_acc_DenominatorAbstract_C8B79F8CB82B376852383088C1315A30" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Denominator [Abstract] </link:label>
<link:label id="lab_acc_DenominatorAbstract_C8B79F8CB82B376852383088C1315A30_documentation_en-US" xlink:label="lab_acc_DenominatorAbstract_C8B79F8CB82B376852383088C1315A30" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> -- None. No documentation exists for this element. -- </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_DenominatorAbstract" xlink:label="loc_acc_DenominatorAbstract_C8B79F8CB82B376852383088C1315A30" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_DenominatorAbstract_C8B79F8CB82B376852383088C1315A30" xlink:to="lab_acc_DenominatorAbstract_C8B79F8CB82B376852383088C1315A30" xlink:type="arc"/>
<link:label id="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_6D8DF458CE067B8AC5283088C131F4AE_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_6D8DF458CE067B8AC5283088C131F4AE" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Basic weighted average common shares outstanding (in shares) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:label="loc_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_6D8DF458CE067B8AC5283088C131F4AE" xlink:type="locator"/>
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<link:label id="lab_us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment_EDCFD533C44145E3F6ED3088C131D3C3_terseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment_EDCFD533C44145E3F6ED3088C131D3C3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Unvested Restricted Stock Awards (in shares) </link:label>
<link:label id="lab_us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment_EDCFD533C44145E3F6ED3088C131D3C3_label_en-US" xlink:label="lab_us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment_EDCFD533C44145E3F6ED3088C131D3C3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Weighted Average Number Diluted Limited Partnership Units Outstanding Adjustment </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment" xlink:label="loc_us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment_EDCFD533C44145E3F6ED3088C131D3C3" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment_EDCFD533C44145E3F6ED3088C131D3C3" xlink:to="lab_us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment_EDCFD533C44145E3F6ED3088C131D3C3" xlink:type="arc"/>
<link:label id="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_83B47CE1A1E75DFF0A353088C1319F9A_totalLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_83B47CE1A1E75DFF0A353088C1319F9A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Diluted weighted average common shares outstanding (in shares) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:label="loc_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_83B47CE1A1E75DFF0A353088C1319F9A" xlink:type="locator"/>
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<link:label id="lab_us-gaap_EarningsPerShareBasicAbstract_C1F86FF9E2D7CFC1B1B53088C132AF29_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasicAbstract_C1F86FF9E2D7CFC1B1B53088C132AF29" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Earnings per share: </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EarningsPerShareBasicAbstract" xlink:label="loc_us-gaap_EarningsPerShareBasicAbstract_C1F86FF9E2D7CFC1B1B53088C132AF29" xlink:type="locator"/>
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<link:label id="lab_us-gaap_EarningsPerShareBasic_DF75876465568551B8B53088C132FE27_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic_DF75876465568551B8B53088C132FE27" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net (loss) income attributable to common stockholders - basic (in dollars per share) </link:label>
<link:label id="lab_us-gaap_EarningsPerShareBasic_DF75876465568551B8B53088C132FE27_label_en-US" xlink:label="lab_us-gaap_EarningsPerShareBasic_DF75876465568551B8B53088C132FE27" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Earnings Per Share, Basic </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EarningsPerShareBasic" xlink:label="loc_us-gaap_EarningsPerShareBasic_DF75876465568551B8B53088C132FE27" xlink:type="locator"/>
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<link:label id="lab_us-gaap_DebtInstrumentTerm_F6E9F5812B36BCDE8FB249E5969D7525_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentTerm_F6E9F5812B36BCDE8FB249E5969D7525" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt instrument, term </link:label>
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<link:label id="lab_acc_DebtInstrumentPercentageofParValue_2E227426A0D981B778E549E5969D7252_terseLabel_en-US" xlink:label="lab_acc_DebtInstrumentPercentageofParValue_2E227426A0D981B778E549E5969D7252" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Percentage of Par Value </link:label>
<link:label id="lab_acc_DebtInstrumentPercentageofParValue_2E227426A0D981B778E549E5969D7252_label_en-US" xlink:label="lab_acc_DebtInstrumentPercentageofParValue_2E227426A0D981B778E549E5969D7252" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Percentage of Par Value </link:label>
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<link:label id="lab_us-gaap_ProceedsFromDebtNetOfIssuanceCosts_3718FAB0BA71E1D5844749E5969DC43C_terseLabel_en-US" xlink:label="lab_us-gaap_ProceedsFromDebtNetOfIssuanceCosts_3718FAB0BA71E1D5844749E5969DC43C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Proceeds from sale of notes </link:label>
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<link:label id="lab_acc_NumberOfAvailableBeds_98E178E1D14719D2388549E5969D9A29_verboseLabel_en-US" xlink:label="lab_acc_NumberOfAvailableBeds_98E178E1D14719D2388549E5969D9A29" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Number of beds </link:label>
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<link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferred1_15107DADD8BBBD748F8A49E5969D4F19_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferred1_15107DADD8BBBD748F8A49E5969D4F19" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total purchase price </link:label>
<link:label id="lab_us-gaap_BusinessCombinationConsiderationTransferred1_15107DADD8BBBD748F8A49E5969D4F19_label_en-US" xlink:label="lab_us-gaap_BusinessCombinationConsiderationTransferred1_15107DADD8BBBD748F8A49E5969D4F19" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Combination, Consideration Transferred </link:label>
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<link:label id="lab_us-gaap_PaymentsToAcquireBusinessesGross_B693D2A82636827FFEC549E5969D8FC6_terseLabel_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesGross_B693D2A82636827FFEC549E5969D8FC6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Total cash consideration </link:label>
<link:label id="lab_us-gaap_PaymentsToAcquireBusinessesGross_B693D2A82636827FFEC549E5969D8FC6_label_en-US" xlink:label="lab_us-gaap_PaymentsToAcquireBusinessesGross_B693D2A82636827FFEC549E5969D8FC6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments to Acquire Businesses, Gross </link:label>
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<link:label id="lab_us-gaap_RealEstateDisclosureTextBlock_2D7A4645B7CC7C0AE64884B8EE584AEB_verboseLabel_en-US" xlink:label="lab_us-gaap_RealEstateDisclosureTextBlock_EC1D3CC9C5775D6DAED5837CCF975382" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> On-Campus Participating Properties </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateDisclosureTextBlock" xlink:label="loc_us-gaap_RealEstateDisclosureTextBlock_EC1D3CC9C5775D6DAED5837CCF975382" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScheduleOfDebtTableTextBlock_CC205E71A46BDE69137F84B8EE494ED1_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtTableTextBlock_97B0FB0E962F50788CFFF573B2EBDE2A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of summary of outstanding consolidated indebtedness, including unamortized debt premiums and discounts </link:label>
<link:label id="lab_us-gaap_ScheduleOfDebtTableTextBlock_CC205E71A46BDE69137F84B8EE494ED1_label_en-US" xlink:label="lab_us-gaap_ScheduleOfDebtTableTextBlock_97B0FB0E962F50788CFFF573B2EBDE2A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Debt [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_611B523D90CF44E4CDB884B8ED1E9E74_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_1392DD847D555435A2DD265CF2F5DEC4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of financial instruments measured at fair value </link:label>
<link:label id="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_611B523D90CF44E4CDB884B8ED1E9E74_label_en-US" xlink:label="lab_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_1392DD847D555435A2DD265CF2F5DEC4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock" xlink:label="loc_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_1392DD847D555435A2DD265CF2F5DEC4" xlink:type="locator"/>
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<link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_B201D333A88BB168A65A84B8ED1EA3F9_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_6EDC9C47B69F5EFF90DB2961563FA789" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of estimated fair value and related carrying amounts of mortgage loans and bonds payable </link:label>
<link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_B201D333A88BB168A65A84B8ED1EA3F9_label_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTextBlock_6EDC9C47B69F5EFF90DB2961563FA789" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, by Balance Sheet Grouping [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_FCBD2ED2240BC9D85DF284B8ED6FC87D_negatedLabel_en-US" xlink:label="lab_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_D4439B01CB3A5C55A841ED3B48726330" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Forfeited (shares) </link:label>
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<link:label id="lab_us-gaap_MinorityInterestTable_20B78004EE00CCD59D3B5EC17078F3DF_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestTable_20B78004EE00CCD59D3B5EC17078F3DF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Minority Interest [Table] </link:label>
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<link:label id="lab_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_982154B593EF70CC4EC75EC170783F4A_periodStartLabel_en-US" xlink:label="lab_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_982154B593EF70CC4EC75EC170783F4A" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US"> Beginning balance </link:label>
<link:label id="lab_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_982154B593EF70CC4EC75EC170783F4A_label_en-US" xlink:label="lab_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_982154B593EF70CC4EC75EC170783F4A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests" xlink:label="loc_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_982154B593EF70CC4EC75EC170783F4A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_982154B593EF70CC4EC75EC170783F4A" xlink:to="lab_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_982154B593EF70CC4EC75EC170783F4A" xlink:type="arc"/>
<link:label id="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_C42F7E99E1828766EDCF5EC17078F9A4_terseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_C42F7E99E1828766EDCF5EC17078F9A4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Net income </link:label>
<link:label id="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_C42F7E99E1828766EDCF5EC17078F9A4_label_en-US" xlink:label="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_C42F7E99E1828766EDCF5EC17078F9A4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Net Income (Loss) Attributable to Redeemable Noncontrolling Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest" xlink:label="loc_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_C42F7E99E1828766EDCF5EC17078F9A4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_C42F7E99E1828766EDCF5EC17078F9A4" xlink:to="lab_us-gaap_NetIncomeLossAttributableToRedeemableNoncontrollingInterest_C42F7E99E1828766EDCF5EC17078F9A4" xlink:type="arc"/>
<link:label id="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_63887E2519DC2489CC325EC1707882B4_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_63887E2519DC2489CC325EC1707882B4" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Distributions </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders" xlink:label="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_63887E2519DC2489CC325EC1707882B4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_63887E2519DC2489CC325EC1707882B4" xlink:to="lab_us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders_63887E2519DC2489CC325EC1707882B4" xlink:type="arc"/>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_D5A479AD78707990BDE25EC170781A6F_negatedLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_D5A479AD78707990BDE25EC170781A6F" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Conversion of redeemable limited partner units into shares of ACC common stock </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_D5A479AD78707990BDE25EC170781A6F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_D5A479AD78707990BDE25EC170781A6F" xlink:to="lab_us-gaap_StockIssuedDuringPeriodValueConversionOfUnits_D5A479AD78707990BDE25EC170781A6F" xlink:type="arc"/>
<link:label id="lab_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_1104D92FC97AD21F4CAB5EC170783CAF_verboseLabel_en-US" xlink:label="lab_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_1104D92FC97AD21F4CAB5EC170783CAF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Contribution of properties from noncontrolling interest </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners" xlink:label="loc_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_1104D92FC97AD21F4CAB5EC170783CAF" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_1104D92FC97AD21F4CAB5EC170783CAF" xlink:to="lab_acc_NoncontrollingInterestIncreasefromContributionsbyNoncontrollingPartners_1104D92FC97AD21F4CAB5EC170783CAF" xlink:type="arc"/>
<link:label id="lab_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_06D752D9B95C7FABEF965EC17078D310_terseLabel_en-US" xlink:label="lab_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_06D752D9B95C7FABEF965EC17078D310" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Adjustments to reflect redeemable limited partner units at fair value </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest" xlink:label="loc_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_06D752D9B95C7FABEF965EC17078D310" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_06D752D9B95C7FABEF965EC17078D310" xlink:to="lab_acc_AdjustmentsToAdditionalPaidInCapitalIncreaseInCarryingAmountOfRedeemableNoncontrollingInterest_06D752D9B95C7FABEF965EC17078D310" xlink:type="arc"/>
<link:label id="lab_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_B05C936E4EB235B1225C5EC170785052_periodEndLabel_en-US" xlink:label="lab_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_B05C936E4EB235B1225C5EC170785052" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US"> Ending balance </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests" xlink:label="loc_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_B05C936E4EB235B1225C5EC170785052" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_B05C936E4EB235B1225C5EC170785052" xlink:to="lab_us-gaap_TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests_B05C936E4EB235B1225C5EC170785052" xlink:type="arc"/>
<link:label id="lab_us-gaap_WhollyOwnedPropertiesMember_E1F028D9D7B7FBC60BD836670036D882_verboseLabel_en-US" xlink:label="lab_us-gaap_WhollyOwnedPropertiesMember_E1F028D9D7B7FBC60BD836670036D882" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Wholly-owned properties, net </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WhollyOwnedPropertiesMember" xlink:label="loc_us-gaap_WhollyOwnedPropertiesMember_E1F028D9D7B7FBC60BD836670036D882" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_WhollyOwnedPropertiesMember_E1F028D9D7B7FBC60BD836670036D882" xlink:to="lab_us-gaap_WhollyOwnedPropertiesMember_E1F028D9D7B7FBC60BD836670036D882" xlink:type="arc"/>
<link:label id="lab_acc_OnCampusParticipatingPropertiesMember_4C0288ABF92112B27E9036670036859C_verboseLabel_en-US" xlink:label="lab_acc_OnCampusParticipatingPropertiesMember_4C0288ABF92112B27E9036670036859C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> On-campus participating properties, net </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_OnCampusParticipatingPropertiesMember" xlink:label="loc_acc_OnCampusParticipatingPropertiesMember_4C0288ABF92112B27E9036670036859C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_OnCampusParticipatingPropertiesMember_4C0288ABF92112B27E9036670036859C" xlink:to="lab_acc_OnCampusParticipatingPropertiesMember_4C0288ABF92112B27E9036670036859C" xlink:type="arc"/>
<link:label id="lab_us-gaap_AssetsAbstract_3DA91C87D528CB348FC436670036B687_terseLabel_en-US" xlink:label="lab_us-gaap_AssetsAbstract_3DA91C87D528CB348FC436670036B687" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Assets </link:label>
<link:label id="lab_us-gaap_AssetsAbstract_3DA91C87D528CB348FC436670036B687_label_en-US" xlink:label="lab_us-gaap_AssetsAbstract_3DA91C87D528CB348FC436670036B687" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsAbstract" xlink:label="loc_us-gaap_AssetsAbstract_3DA91C87D528CB348FC436670036B687" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AssetsAbstract_3DA91C87D528CB348FC436670036B687" xlink:to="lab_us-gaap_AssetsAbstract_3DA91C87D528CB348FC436670036B687" xlink:type="arc"/>
<link:label id="lab_us-gaap_RealEstateInvestmentPropertyNetAbstract_68E5DA9155A0EB2DC34B36670036A4CA_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNetAbstract_68E5DA9155A0EB2DC34B36670036A4CA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investments in real estate: </link:label>
<link:label id="lab_us-gaap_RealEstateInvestmentPropertyNetAbstract_68E5DA9155A0EB2DC34B36670036A4CA_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNetAbstract_68E5DA9155A0EB2DC34B36670036A4CA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Investment Property, Net [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNetAbstract" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNetAbstract_68E5DA9155A0EB2DC34B36670036A4CA" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNetAbstract_68E5DA9155A0EB2DC34B36670036A4CA" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyNetAbstract_68E5DA9155A0EB2DC34B36670036A4CA" xlink:type="arc"/>
<link:label id="lab_us-gaap_RealEstateInvestmentPropertyNet_BB98E0102BA280A2407F366700361216_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyNet_BB98E0102BA280A2407F366700361216" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investments in real estate, net </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateInvestmentPropertyNet" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyNet_BB98E0102BA280A2407F366700361216" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyNet_BB98E0102BA280A2407F366700361216" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyNet_BB98E0102BA280A2407F366700361216" xlink:type="arc"/>
<link:label id="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_138B7F01F1BFAE921CC63667003723C1_terseLabel_en-US" xlink:label="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_138B7F01F1BFAE921CC63667003723C1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Cash and cash equivalents </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_138B7F01F1BFAE921CC63667003723C1" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_138B7F01F1BFAE921CC63667003723C1" xlink:to="lab_us-gaap_CashAndCashEquivalentsAtCarryingValue_138B7F01F1BFAE921CC63667003723C1" xlink:type="arc"/>
<link:label id="lab_us-gaap_RestrictedCashAndCashEquivalents_CBDCAFE468F3AEC5EAE036670037BE5F_terseLabel_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalents_CBDCAFE468F3AEC5EAE036670037BE5F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Restricted cash </link:label>
<link:label id="lab_us-gaap_RestrictedCashAndCashEquivalents_CBDCAFE468F3AEC5EAE036670037BE5F_label_en-US" xlink:label="lab_us-gaap_RestrictedCashAndCashEquivalents_CBDCAFE468F3AEC5EAE036670037BE5F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Restricted Cash and Cash Equivalents </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalents" xlink:label="loc_us-gaap_RestrictedCashAndCashEquivalents_CBDCAFE468F3AEC5EAE036670037BE5F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RestrictedCashAndCashEquivalents_CBDCAFE468F3AEC5EAE036670037BE5F" xlink:to="lab_us-gaap_RestrictedCashAndCashEquivalents_CBDCAFE468F3AEC5EAE036670037BE5F" xlink:type="arc"/>
<link:label id="lab_us-gaap_AccountsReceivableNet_6137D03603447A5C81B3366700370F82_terseLabel_en-US" xlink:label="lab_us-gaap_AccountsReceivableNet_6137D03603447A5C81B3366700370F82" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Student contracts receivable, net </link:label>
<link:label id="lab_us-gaap_AccountsReceivableNet_6137D03603447A5C81B3366700370F82_label_en-US" xlink:label="lab_us-gaap_AccountsReceivableNet_6137D03603447A5C81B3366700370F82" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Accounts Receivable, Net </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AccountsReceivableNet" xlink:label="loc_us-gaap_AccountsReceivableNet_6137D03603447A5C81B3366700370F82" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_AccountsReceivableNet_6137D03603447A5C81B3366700370F82" xlink:to="lab_us-gaap_AccountsReceivableNet_6137D03603447A5C81B3366700370F82" xlink:type="arc"/>
<link:label id="lab_us-gaap_OtherAssets_3011291EEBF22DD3EBEA366700375289_terseLabel_en-US" xlink:label="lab_us-gaap_OtherAssets_3011291EEBF22DD3EBEA366700375289" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other assets </link:label>
<link:label id="lab_us-gaap_OtherAssets_3011291EEBF22DD3EBEA366700375289_label_en-US" xlink:label="lab_us-gaap_OtherAssets_3011291EEBF22DD3EBEA366700375289" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Assets </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherAssets" xlink:label="loc_us-gaap_OtherAssets_3011291EEBF22DD3EBEA366700375289" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherAssets_3011291EEBF22DD3EBEA366700375289" xlink:to="lab_us-gaap_OtherAssets_3011291EEBF22DD3EBEA366700375289" xlink:type="arc"/>
<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_392F612A7C82AA71F42936670037A47B_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_392F612A7C82AA71F42936670037A47B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities and equity/capital </link:label>
<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_392F612A7C82AA71F42936670037A47B_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_392F612A7C82AA71F42936670037A47B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities and Equity [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_392F612A7C82AA71F42936670037A47B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquityAbstract_392F612A7C82AA71F42936670037A47B" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquityAbstract_392F612A7C82AA71F42936670037A47B" xlink:type="arc"/>
<link:label id="lab_us-gaap_LiabilitiesAbstract_3FEC9CECA8006C482EC436670037FB13_terseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_3FEC9CECA8006C482EC436670037FB13" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities: </link:label>
<link:label id="lab_us-gaap_LiabilitiesAbstract_3FEC9CECA8006C482EC436670037FB13_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAbstract_3FEC9CECA8006C482EC436670037FB13" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities [Abstract] </link:label>
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<link:label id="lab_us-gaap_Liabilities_787FF31B912F20F8FA9A3667003828BB_label_en-US" xlink:label="lab_us-gaap_Liabilities_787FF31B912F20F8FA9A3667003828BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities </link:label>
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<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_2D57D2192EDD52C07B0B36670038AF60_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_2D57D2192EDD52C07B0B36670038AF60" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAbstract_2D57D2192EDD52C07B0B36670038AF60" xlink:type="locator"/>
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<link:label id="lab_us-gaap_StockholdersEquityAbstract_7989B2444578FD6DD7DD366700387583_terseLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_7989B2444578FD6DD7DD366700387583" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> American Campus Communities, Inc. and Subsidiaries stockholders' equity: </link:label>
<link:label id="lab_us-gaap_StockholdersEquityAbstract_7989B2444578FD6DD7DD366700387583_label_en-US" xlink:label="lab_us-gaap_StockholdersEquityAbstract_7989B2444578FD6DD7DD366700387583" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity Attributable to Parent [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:label="loc_us-gaap_StockholdersEquityAbstract_7989B2444578FD6DD7DD366700387583" xlink:type="locator"/>
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<link:label id="lab_us-gaap_CommonStockValueOutstanding_F134662099681BE66E6B36670038EFA1_terseLabel_en-US" xlink:label="lab_us-gaap_CommonStockValueOutstanding_F134662099681BE66E6B36670038EFA1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common stock, $0.01 par value, 800,000,000 shares authorized, 136,362,728 and 132,225,488 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively </link:label>
<link:label id="lab_us-gaap_CommonStockValueOutstanding_F134662099681BE66E6B36670038EFA1_label_en-US" xlink:label="lab_us-gaap_CommonStockValueOutstanding_F134662099681BE66E6B36670038EFA1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common Stock, Value, Outstanding </link:label>
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<link:label id="lab_us-gaap_AdditionalPaidInCapitalCommonStock_DC6A2505C6461D9996793667003876B8_label_en-US" xlink:label="lab_us-gaap_AdditionalPaidInCapitalCommonStock_DC6A2505C6461D9996793667003876B8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Additional Paid in Capital, Common Stock </link:label>
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<link:label id="lab_us-gaap_TreasuryStockValue_5B111DB79D9F07B33E3F36670038E1BE_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_TreasuryStockValue_5B111DB79D9F07B33E3F36670038E1BE" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Common stock held in rabbi trust, 63,778 and 20,181 shares at September 30, 2017 and December 31, 2016, respectively </link:label>
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<link:label id="lab_us-gaap_MinorityInterest_960AF45220699C31AE5B366700382144_label_en-US" xlink:label="lab_us-gaap_MinorityInterest_960AF45220699C31AE5B366700382144" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Stockholders' Equity Attributable to Noncontrolling Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MinorityInterest" xlink:label="loc_us-gaap_MinorityInterest_960AF45220699C31AE5B366700382144" xlink:type="locator"/>
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<link:label id="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_70194931C9AC2C83358036670039F465_totalLabel_en-US" xlink:label="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_70194931C9AC2C83358036670039F465" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total equity </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_70194931C9AC2C83358036670039F465" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_70194931C9AC2C83358036670039F465" xlink:to="lab_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_70194931C9AC2C83358036670039F465" xlink:type="arc"/>
<link:label id="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterestAbstract_D2EF5044C62ED508889E3667003ED547_terseLabel_en-US" xlink:label="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterestAbstract_D2EF5044C62ED508889E3667003ED547" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Capital: </link:label>
<link:label id="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterestAbstract_D2EF5044C62ED508889E3667003ED547_label_en-US" xlink:label="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterestAbstract_D2EF5044C62ED508889E3667003ED547" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partners' Capital, Including Portion Attributable to Noncontrolling Interest [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterestAbstract" xlink:label="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterestAbstract_D2EF5044C62ED508889E3667003ED547" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterestAbstract_D2EF5044C62ED508889E3667003ED547" xlink:to="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterestAbstract_D2EF5044C62ED508889E3667003ED547" xlink:type="arc"/>
<link:label id="lab_us-gaap_PartnersCapitalAbstract_D9AB7F98EA0F4B32F2A53667003E0AC7_terseLabel_en-US" xlink:label="lab_us-gaap_PartnersCapitalAbstract_D9AB7F98EA0F4B32F2A53667003E0AC7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Partners' capital: </link:label>
<link:label id="lab_us-gaap_PartnersCapitalAbstract_D9AB7F98EA0F4B32F2A53667003E0AC7_label_en-US" xlink:label="lab_us-gaap_PartnersCapitalAbstract_D9AB7F98EA0F4B32F2A53667003E0AC7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partners' Capital [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartnersCapitalAbstract" xlink:label="loc_us-gaap_PartnersCapitalAbstract_D9AB7F98EA0F4B32F2A53667003E0AC7" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapitalAbstract_D9AB7F98EA0F4B32F2A53667003E0AC7" xlink:to="lab_us-gaap_PartnersCapitalAbstract_D9AB7F98EA0F4B32F2A53667003E0AC7" xlink:type="arc"/>
<link:label id="lab_us-gaap_GeneralPartnersCapitalAccount_838A3EDC1142BE8300103667003EC17E_terseLabel_en-US" xlink:label="lab_us-gaap_GeneralPartnersCapitalAccount_838A3EDC1142BE8300103667003EC17E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> General partner - 12,222 OP units outstanding at both September 30, 2017 and December 31, 2016 </link:label>
<link:label id="lab_us-gaap_GeneralPartnersCapitalAccount_838A3EDC1142BE8300103667003EC17E_label_en-US" xlink:label="lab_us-gaap_GeneralPartnersCapitalAccount_838A3EDC1142BE8300103667003EC17E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> General Partners' Capital Account </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GeneralPartnersCapitalAccount" xlink:label="loc_us-gaap_GeneralPartnersCapitalAccount_838A3EDC1142BE8300103667003EC17E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GeneralPartnersCapitalAccount_838A3EDC1142BE8300103667003EC17E" xlink:to="lab_us-gaap_GeneralPartnersCapitalAccount_838A3EDC1142BE8300103667003EC17E" xlink:type="arc"/>
<link:label id="lab_us-gaap_LimitedPartnersCapitalAccount_5F5D0242C4584B3493C23667003ECD40_terseLabel_en-US" xlink:label="lab_us-gaap_LimitedPartnersCapitalAccount_5F5D0242C4584B3493C23667003ECD40" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Limited partner - 136,414,284 and 132,233,447 OP units outstanding at September 30, 2017 and December 31, 2016, respectively </link:label>
<link:label id="lab_us-gaap_LimitedPartnersCapitalAccount_5F5D0242C4584B3493C23667003ECD40_label_en-US" xlink:label="lab_us-gaap_LimitedPartnersCapitalAccount_5F5D0242C4584B3493C23667003ECD40" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Limited Partners' Capital Account </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LimitedPartnersCapitalAccount" xlink:label="loc_us-gaap_LimitedPartnersCapitalAccount_5F5D0242C4584B3493C23667003ECD40" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LimitedPartnersCapitalAccount_5F5D0242C4584B3493C23667003ECD40" xlink:to="lab_us-gaap_LimitedPartnersCapitalAccount_5F5D0242C4584B3493C23667003ECD40" xlink:type="arc"/>
<link:label id="lab_us-gaap_PartnersCapital_63092EB969690F32B9E03667003EFC04_totalLabel_en-US" xlink:label="lab_us-gaap_PartnersCapital_63092EB969690F32B9E03667003EFC04" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total partners' capital </link:label>
<link:label id="lab_us-gaap_PartnersCapital_63092EB969690F32B9E03667003EFC04_label_en-US" xlink:label="lab_us-gaap_PartnersCapital_63092EB969690F32B9E03667003EFC04" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partners' Capital </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartnersCapital" xlink:label="loc_us-gaap_PartnersCapital_63092EB969690F32B9E03667003EFC04" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapital_63092EB969690F32B9E03667003EFC04" xlink:to="lab_us-gaap_PartnersCapital_63092EB969690F32B9E03667003EFC04" xlink:type="arc"/>
<link:label id="lab_us-gaap_PartnersCapitalAttributableToNoncontrollingInterest_6EBC4D1B6D060E6322973667003EFA62_terseLabel_en-US" xlink:label="lab_us-gaap_PartnersCapitalAttributableToNoncontrollingInterest_6EBC4D1B6D060E6322973667003EFA62" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Noncontrolling interests - partially owned properties </link:label>
<link:label id="lab_us-gaap_PartnersCapitalAttributableToNoncontrollingInterest_6EBC4D1B6D060E6322973667003EFA62_label_en-US" xlink:label="lab_us-gaap_PartnersCapitalAttributableToNoncontrollingInterest_6EBC4D1B6D060E6322973667003EFA62" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Partners' Capital Attributable to Noncontrolling Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartnersCapitalAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_PartnersCapitalAttributableToNoncontrollingInterest_6EBC4D1B6D060E6322973667003EFA62" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapitalAttributableToNoncontrollingInterest_6EBC4D1B6D060E6322973667003EFA62" xlink:to="lab_us-gaap_PartnersCapitalAttributableToNoncontrollingInterest_6EBC4D1B6D060E6322973667003EFA62" xlink:type="arc"/>
<link:label id="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_5383EA0A8FD38BBABC553667003E7DC5_totalLabel_en-US" xlink:label="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_5383EA0A8FD38BBABC553667003E7DC5" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total capital </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest" xlink:label="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_5383EA0A8FD38BBABC553667003E7DC5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_5383EA0A8FD38BBABC553667003E7DC5" xlink:to="lab_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_5383EA0A8FD38BBABC553667003E7DC5" xlink:type="arc"/>
<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_B8E22A1455AFECFF45623667003FD71A_totalLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity_B8E22A1455AFECFF45623667003FD71A" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Total liabilities and equity </link:label>
<link:label id="lab_us-gaap_LiabilitiesAndStockholdersEquity_B8E22A1455AFECFF45623667003FD71A_label_en-US" xlink:label="lab_us-gaap_LiabilitiesAndStockholdersEquity_B8E22A1455AFECFF45623667003FD71A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Liabilities and Equity </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_B8E22A1455AFECFF45623667003FD71A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_B8E22A1455AFECFF45623667003FD71A" xlink:to="lab_us-gaap_LiabilitiesAndStockholdersEquity_B8E22A1455AFECFF45623667003FD71A" xlink:type="arc"/>
<link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_F8EFD5A10BAAEE95703D7425909BCF17_terseLabel_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_F8EFD5A10BAAEE95703D7425909BCF17" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Basis of Presentation </link:label>
<link:label id="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_F8EFD5A10BAAEE95703D7425909BCF17_label_en-US" xlink:label="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_F8EFD5A10BAAEE95703D7425909BCF17" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Basis of Accounting, Policy [Policy Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:label="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_F8EFD5A10BAAEE95703D7425909BCF17" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_F8EFD5A10BAAEE95703D7425909BCF17" xlink:to="lab_us-gaap_BasisOfAccountingPolicyPolicyTextBlock_F8EFD5A10BAAEE95703D7425909BCF17" xlink:type="arc"/>
<link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_8835A872BFD89949FBBB7425909B824A_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock_8835A872BFD89949FBBB7425909B824A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Principles of Consolidation </link:label>
<link:label id="lab_us-gaap_ConsolidationPolicyTextBlock_8835A872BFD89949FBBB7425909B824A_label_en-US" xlink:label="lab_us-gaap_ConsolidationPolicyTextBlock_8835A872BFD89949FBBB7425909B824A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Consolidation, Policy [Policy Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConsolidationPolicyTextBlock" xlink:label="loc_us-gaap_ConsolidationPolicyTextBlock_8835A872BFD89949FBBB7425909B824A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConsolidationPolicyTextBlock_8835A872BFD89949FBBB7425909B824A" xlink:to="lab_us-gaap_ConsolidationPolicyTextBlock_8835A872BFD89949FBBB7425909B824A" xlink:type="arc"/>
<link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_4ADC70E77D01A0CBD95B7425909B4E6C_terseLabel_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_4ADC70E77D01A0CBD95B7425909B4E6C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Recently Issued and Adopted Accounting Pronouncements </link:label>
<link:label id="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_4ADC70E77D01A0CBD95B7425909B4E6C_label_en-US" xlink:label="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_4ADC70E77D01A0CBD95B7425909B4E6C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> New Accounting Pronouncements, Policy [Policy Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:label="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_4ADC70E77D01A0CBD95B7425909B4E6C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_4ADC70E77D01A0CBD95B7425909B4E6C" xlink:to="lab_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_4ADC70E77D01A0CBD95B7425909B4E6C" xlink:type="arc"/>
<link:label id="lab_acc_InterimDisclosurePolicyPolicyTextBlock_B65424A3D55CD3E0A3107425909BF0FE_terseLabel_en-US" xlink:label="lab_acc_InterimDisclosurePolicyPolicyTextBlock_B65424A3D55CD3E0A3107425909BF0FE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Interim Financial Statements </link:label>
<link:label id="lab_acc_InterimDisclosurePolicyPolicyTextBlock_B65424A3D55CD3E0A3107425909BF0FE_label_en-US" xlink:label="lab_acc_InterimDisclosurePolicyPolicyTextBlock_B65424A3D55CD3E0A3107425909BF0FE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Interim Disclosure Policy [Policy Text Block] </link:label>
<link:label id="lab_acc_InterimDisclosurePolicyPolicyTextBlock_B65424A3D55CD3E0A3107425909BF0FE_documentation_en-US" xlink:label="lab_acc_InterimDisclosurePolicyPolicyTextBlock_B65424A3D55CD3E0A3107425909BF0FE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disclosure of accounting policy for interim disclosure. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_InterimDisclosurePolicyPolicyTextBlock" xlink:label="loc_acc_InterimDisclosurePolicyPolicyTextBlock_B65424A3D55CD3E0A3107425909BF0FE" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_InterimDisclosurePolicyPolicyTextBlock_B65424A3D55CD3E0A3107425909BF0FE" xlink:to="lab_acc_InterimDisclosurePolicyPolicyTextBlock_B65424A3D55CD3E0A3107425909BF0FE" xlink:type="arc"/>
<link:label id="lab_us-gaap_UseOfEstimates_EA9D25023ECD025816707425909B787B_terseLabel_en-US" xlink:label="lab_us-gaap_UseOfEstimates_EA9D25023ECD025816707425909B787B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Use of Estimates </link:label>
<link:label id="lab_us-gaap_UseOfEstimates_EA9D25023ECD025816707425909B787B_label_en-US" xlink:label="lab_us-gaap_UseOfEstimates_EA9D25023ECD025816707425909B787B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Use of Estimates, Policy [Policy Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_UseOfEstimates" xlink:label="loc_us-gaap_UseOfEstimates_EA9D25023ECD025816707425909B787B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_UseOfEstimates_EA9D25023ECD025816707425909B787B" xlink:to="lab_us-gaap_UseOfEstimates_EA9D25023ECD025816707425909B787B" xlink:type="arc"/>
<link:label id="lab_us-gaap_RealEstatePolicyTextBlock_685444314E8FA4B6B4547425909BEB2B_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstatePolicyTextBlock_685444314E8FA4B6B4547425909BEB2B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Investments in Real Estate </link:label>
<link:label id="lab_us-gaap_RealEstatePolicyTextBlock_685444314E8FA4B6B4547425909BEB2B_label_en-US" xlink:label="lab_us-gaap_RealEstatePolicyTextBlock_685444314E8FA4B6B4547425909BEB2B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate, Policy [Policy Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstatePolicyTextBlock" xlink:label="loc_us-gaap_RealEstatePolicyTextBlock_685444314E8FA4B6B4547425909BEB2B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstatePolicyTextBlock_685444314E8FA4B6B4547425909BEB2B" xlink:to="lab_us-gaap_RealEstatePolicyTextBlock_685444314E8FA4B6B4547425909BEB2B" xlink:type="arc"/>
<link:label id="lab_acc_RedeemableNoncontrollingInterestInConsolidatedRealEstateJointVenturesPolicyTextBlock_D09F7EAEA3CB87B51A157425909BA04F_terseLabel_en-US" xlink:label="lab_acc_RedeemableNoncontrollingInterestInConsolidatedRealEstateJointVenturesPolicyTextBlock_D09F7EAEA3CB87B51A157425909BA04F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Redeemable noncontrolling interests </link:label>
<link:label id="lab_acc_RedeemableNoncontrollingInterestInConsolidatedRealEstateJointVenturesPolicyTextBlock_D09F7EAEA3CB87B51A157425909BA04F_label_en-US" xlink:label="lab_acc_RedeemableNoncontrollingInterestInConsolidatedRealEstateJointVenturesPolicyTextBlock_D09F7EAEA3CB87B51A157425909BA04F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Redeemable Noncontrolling Interest In Consolidated Real Estate Joint Ventures [Policy Text Block] </link:label>
<link:label id="lab_acc_RedeemableNoncontrollingInterestInConsolidatedRealEstateJointVenturesPolicyTextBlock_D09F7EAEA3CB87B51A157425909BA04F_documentation_en-US" xlink:label="lab_acc_RedeemableNoncontrollingInterestInConsolidatedRealEstateJointVenturesPolicyTextBlock_D09F7EAEA3CB87B51A157425909BA04F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Redeemable Noncontrolling Interest In Consolidated Real Estate Joint Ventures [Policy Text Block] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_RedeemableNoncontrollingInterestInConsolidatedRealEstateJointVenturesPolicyTextBlock" xlink:label="loc_acc_RedeemableNoncontrollingInterestInConsolidatedRealEstateJointVenturesPolicyTextBlock_D09F7EAEA3CB87B51A157425909BA04F" xlink:type="locator"/>
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<link:label id="lab_acc_PreDevelopmentExpendituresPolicyTextBlock_0C56033B369E66284E107425909B113C_verboseLabel_en-US" xlink:label="lab_acc_PreDevelopmentExpendituresPolicyTextBlock_0C56033B369E66284E107425909B113C" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Pre-development Expenditures </link:label>
<link:label id="lab_acc_PreDevelopmentExpendituresPolicyTextBlock_0C56033B369E66284E107425909B113C_label_en-US" xlink:label="lab_acc_PreDevelopmentExpendituresPolicyTextBlock_0C56033B369E66284E107425909B113C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pre Development Expenditures [Policy Text Block] </link:label>
<link:label id="lab_acc_PreDevelopmentExpendituresPolicyTextBlock_0C56033B369E66284E107425909B113C_documentation_en-US" xlink:label="lab_acc_PreDevelopmentExpendituresPolicyTextBlock_0C56033B369E66284E107425909B113C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Disclosure of accounting policy for pre-development expenditures. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_PreDevelopmentExpendituresPolicyTextBlock" xlink:label="loc_acc_PreDevelopmentExpendituresPolicyTextBlock_0C56033B369E66284E107425909B113C" xlink:type="locator"/>
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<link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_1EE001EF4D912E72DEAA7425909BBB7A_terseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock_1EE001EF4D912E72DEAA7425909BBB7A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Earnings per Share - Company/Earnings per Unit - Operating Partnership </link:label>
<link:label id="lab_us-gaap_EarningsPerSharePolicyTextBlock_1EE001EF4D912E72DEAA7425909BBB7A_label_en-US" xlink:label="lab_us-gaap_EarningsPerSharePolicyTextBlock_1EE001EF4D912E72DEAA7425909BBB7A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Earnings Per Share, Policy [Policy Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:label="loc_us-gaap_EarningsPerSharePolicyTextBlock_1EE001EF4D912E72DEAA7425909BBB7A" xlink:type="locator"/>
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<link:label id="lab_us-gaap_CreditFacilityAxis_CE5479DF7567D9F7630B784224073213_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis_CE5479DF7567D9F7630B784224073213" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Credit Facility [Axis] </link:label>
<link:label id="lab_us-gaap_CreditFacilityAxis_CE5479DF7567D9F7630B784224073213_label_en-US" xlink:label="lab_us-gaap_CreditFacilityAxis_CE5479DF7567D9F7630B784224073213" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Credit Facility [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CreditFacilityAxis" xlink:label="loc_us-gaap_CreditFacilityAxis_CE5479DF7567D9F7630B784224073213" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityAxis_CE5479DF7567D9F7630B784224073213" xlink:to="lab_us-gaap_CreditFacilityAxis_CE5479DF7567D9F7630B784224073213" xlink:type="arc"/>
<link:label id="lab_us-gaap_CreditFacilityDomain_1B526C7A9CA3E1BF39CD7842240896A1_terseLabel_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain_1B526C7A9CA3E1BF39CD7842240896A1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Credit Facility [Domain] </link:label>
<link:label id="lab_us-gaap_CreditFacilityDomain_1B526C7A9CA3E1BF39CD7842240896A1_label_en-US" xlink:label="lab_us-gaap_CreditFacilityDomain_1B526C7A9CA3E1BF39CD7842240896A1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Credit Facility [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CreditFacilityDomain" xlink:label="loc_us-gaap_CreditFacilityDomain_1B526C7A9CA3E1BF39CD7842240896A1" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CreditFacilityDomain_1B526C7A9CA3E1BF39CD7842240896A1" xlink:to="lab_us-gaap_CreditFacilityDomain_1B526C7A9CA3E1BF39CD7842240896A1" xlink:type="arc"/>
<link:label id="lab_us-gaap_RevolvingCreditFacilityMember_A6119C9D59DFCCFBABF378422408082C_terseLabel_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember_A6119C9D59DFCCFBABF378422408082C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Revolving credit facility </link:label>
<link:label id="lab_us-gaap_RevolvingCreditFacilityMember_A6119C9D59DFCCFBABF378422408082C_label_en-US" xlink:label="lab_us-gaap_RevolvingCreditFacilityMember_A6119C9D59DFCCFBABF378422408082C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Revolving Credit Facility [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RevolvingCreditFacilityMember" xlink:label="loc_us-gaap_RevolvingCreditFacilityMember_A6119C9D59DFCCFBABF378422408082C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RevolvingCreditFacilityMember_A6119C9D59DFCCFBABF378422408082C" xlink:to="lab_us-gaap_RevolvingCreditFacilityMember_A6119C9D59DFCCFBABF378422408082C" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentAxis_297B5CDB7117A5C1173878422408CFA7_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis_297B5CDB7117A5C1173878422408CFA7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt Instrument [Axis] </link:label>
<link:label id="lab_us-gaap_DebtInstrumentAxis_297B5CDB7117A5C1173878422408CFA7_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentAxis_297B5CDB7117A5C1173878422408CFA7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentAxis" xlink:label="loc_us-gaap_DebtInstrumentAxis_297B5CDB7117A5C1173878422408CFA7" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentAxis_297B5CDB7117A5C1173878422408CFA7" xlink:to="lab_us-gaap_DebtInstrumentAxis_297B5CDB7117A5C1173878422408CFA7" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentNameDomain_C22AF0501D27F56098427842240812DE_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain_C22AF0501D27F56098427842240812DE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Name [Domain] </link:label>
<link:label id="lab_us-gaap_DebtInstrumentNameDomain_C22AF0501D27F56098427842240812DE_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentNameDomain_C22AF0501D27F56098427842240812DE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Name [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentNameDomain" xlink:label="loc_us-gaap_DebtInstrumentNameDomain_C22AF0501D27F56098427842240812DE" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentNameDomain_C22AF0501D27F56098427842240812DE" xlink:to="lab_us-gaap_DebtInstrumentNameDomain_C22AF0501D27F56098427842240812DE" xlink:type="arc"/>
<link:label id="lab_acc_CreditAgreementMember_5EBFE18B7E517EEEC49A784224087643_terseLabel_en-US" xlink:label="lab_acc_CreditAgreementMember_5EBFE18B7E517EEEC49A784224087643" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Credit Agreement </link:label>
<link:label id="lab_acc_CreditAgreementMember_5EBFE18B7E517EEEC49A784224087643_label_en-US" xlink:label="lab_acc_CreditAgreementMember_5EBFE18B7E517EEEC49A784224087643" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Credit Agreement [Member] </link:label>
<link:label id="lab_acc_CreditAgreementMember_5EBFE18B7E517EEEC49A784224087643_documentation_en-US" xlink:label="lab_acc_CreditAgreementMember_5EBFE18B7E517EEEC49A784224087643" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Credit Agreement [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_CreditAgreementMember" xlink:label="loc_acc_CreditAgreementMember_5EBFE18B7E517EEEC49A784224087643" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_CreditAgreementMember_5EBFE18B7E517EEEC49A784224087643" xlink:to="lab_acc_CreditAgreementMember_5EBFE18B7E517EEEC49A784224087643" xlink:type="arc"/>
<link:label id="lab_acc_TermLoanIFacilityMember_BA1A5C48EC1F1E4AA76978422408D9E5_terseLabel_en-US" xlink:label="lab_acc_TermLoanIFacilityMember_BA1A5C48EC1F1E4AA76978422408D9E5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Term Loan I Facility </link:label>
<link:label id="lab_acc_TermLoanIFacilityMember_BA1A5C48EC1F1E4AA76978422408D9E5_label_en-US" xlink:label="lab_acc_TermLoanIFacilityMember_BA1A5C48EC1F1E4AA76978422408D9E5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Term Loan I Facility [Member] </link:label>
<link:label id="lab_acc_TermLoanIFacilityMember_BA1A5C48EC1F1E4AA76978422408D9E5_documentation_en-US" xlink:label="lab_acc_TermLoanIFacilityMember_BA1A5C48EC1F1E4AA76978422408D9E5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Term Loan I Facility [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TermLoanIFacilityMember" xlink:label="loc_acc_TermLoanIFacilityMember_BA1A5C48EC1F1E4AA76978422408D9E5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TermLoanIFacilityMember_BA1A5C48EC1F1E4AA76978422408D9E5" xlink:to="lab_acc_TermLoanIFacilityMember_BA1A5C48EC1F1E4AA76978422408D9E5" xlink:type="arc"/>
<link:label id="lab_acc_TermLoanIIFacilityMember_2A0C4C75A102803AAF9D784224080A46_terseLabel_en-US" xlink:label="lab_acc_TermLoanIIFacilityMember_2A0C4C75A102803AAF9D784224080A46" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Term Loan II Facility </link:label>
<link:label id="lab_acc_TermLoanIIFacilityMember_2A0C4C75A102803AAF9D784224080A46_label_en-US" xlink:label="lab_acc_TermLoanIIFacilityMember_2A0C4C75A102803AAF9D784224080A46" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Term Loan II Facility [Member] </link:label>
<link:label id="lab_acc_TermLoanIIFacilityMember_2A0C4C75A102803AAF9D784224080A46_documentation_en-US" xlink:label="lab_acc_TermLoanIIFacilityMember_2A0C4C75A102803AAF9D784224080A46" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Term Loan II Facility [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TermLoanIIFacilityMember" xlink:label="loc_acc_TermLoanIIFacilityMember_2A0C4C75A102803AAF9D784224080A46" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TermLoanIIFacilityMember_2A0C4C75A102803AAF9D784224080A46" xlink:to="lab_acc_TermLoanIIFacilityMember_2A0C4C75A102803AAF9D784224080A46" xlink:type="arc"/>
<link:label id="lab_acc_TermLoanIIIFacilityMember_9A03065CA20C489731BE78422408CF23_terseLabel_en-US" xlink:label="lab_acc_TermLoanIIIFacilityMember_9A03065CA20C489731BE78422408CF23" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Term Loan III Facility </link:label>
<link:label id="lab_acc_TermLoanIIIFacilityMember_9A03065CA20C489731BE78422408CF23_label_en-US" xlink:label="lab_acc_TermLoanIIIFacilityMember_9A03065CA20C489731BE78422408CF23" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Term Loan III Facility [Member] </link:label>
<link:label id="lab_acc_TermLoanIIIFacilityMember_9A03065CA20C489731BE78422408CF23_documentation_en-US" xlink:label="lab_acc_TermLoanIIIFacilityMember_9A03065CA20C489731BE78422408CF23" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Term Loan III Facility [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TermLoanIIIFacilityMember" xlink:label="loc_acc_TermLoanIIIFacilityMember_9A03065CA20C489731BE78422408CF23" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TermLoanIIIFacilityMember_9A03065CA20C489731BE78422408CF23" xlink:to="lab_acc_TermLoanIIIFacilityMember_9A03065CA20C489731BE78422408CF23" xlink:type="arc"/>
<link:label id="lab_us-gaap_MortgagesMember_09CDDC5ED16FC06CC88378422409F375_verboseLabel_en-US" xlink:label="lab_us-gaap_MortgagesMember_09CDDC5ED16FC06CC88378422409F375" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Mortgages </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MortgagesMember" xlink:label="loc_us-gaap_MortgagesMember_09CDDC5ED16FC06CC88378422409F375" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MortgagesMember_09CDDC5ED16FC06CC88378422409F375" xlink:to="lab_us-gaap_MortgagesMember_09CDDC5ED16FC06CC88378422409F375" xlink:type="arc"/>
<link:label id="lab_us-gaap_ConstructionLoansMember_068771C4F4E4D36F0A58784A9FD704A2_terseLabel_en-US" xlink:label="lab_us-gaap_ConstructionLoansMember_068771C4F4E4D36F0A58784A9FD704A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Construction Loans </link:label>
<link:label id="lab_us-gaap_ConstructionLoansMember_068771C4F4E4D36F0A58784A9FD704A2_label_en-US" xlink:label="lab_us-gaap_ConstructionLoansMember_068771C4F4E4D36F0A58784A9FD704A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Construction Loans [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConstructionLoansMember" xlink:label="loc_us-gaap_ConstructionLoansMember_068771C4F4E4D36F0A58784A9FD704A2" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConstructionLoansMember_068771C4F4E4D36F0A58784A9FD704A2" xlink:to="lab_us-gaap_ConstructionLoansMember_068771C4F4E4D36F0A58784A9FD704A2" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentLineItems_E7419FCF14065360143278422409F1E9_verboseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentLineItems_E7419FCF14065360143278422409F1E9" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Debt Instrument [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentLineItems" xlink:label="loc_us-gaap_DebtInstrumentLineItems_E7419FCF14065360143278422409F1E9" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentLineItems_E7419FCF14065360143278422409F1E9" xlink:to="lab_us-gaap_DebtInstrumentLineItems_E7419FCF14065360143278422409F1E9" xlink:type="arc"/>
<link:label id="lab_us-gaap_RepaymentsOfSecuredDebt_55DBD90110E4C1AD366B78422409E624_terseLabel_en-US" xlink:label="lab_us-gaap_RepaymentsOfSecuredDebt_55DBD90110E4C1AD366B78422409E624" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Repayments of secured debt </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RepaymentsOfSecuredDebt" xlink:label="loc_us-gaap_RepaymentsOfSecuredDebt_55DBD90110E4C1AD366B78422409E624" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RepaymentsOfSecuredDebt_55DBD90110E4C1AD366B78422409E624" xlink:to="lab_us-gaap_RepaymentsOfSecuredDebt_55DBD90110E4C1AD366B78422409E624" xlink:type="arc"/>
<link:label id="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_F9E80EE58236C05F3E427842240AAAA6_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_F9E80EE58236C05F3E427842240AAAA6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Current borrowing capacity </link:label>
<link:label id="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_F9E80EE58236C05F3E427842240AAAA6_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_F9E80EE58236C05F3E427842240AAAA6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Current Borrowing Capacity </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_F9E80EE58236C05F3E427842240AAAA6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_F9E80EE58236C05F3E427842240AAAA6" xlink:to="lab_us-gaap_LineOfCreditFacilityCurrentBorrowingCapacity_F9E80EE58236C05F3E427842240AAAA6" xlink:type="arc"/>
<link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_AF5AFAC36B02B7E814CC7842240A6F02_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_AF5AFAC36B02B7E814CC7842240A6F02" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Credit facility </link:label>
<link:label id="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_AF5AFAC36B02B7E814CC7842240A6F02_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_AF5AFAC36B02B7E814CC7842240A6F02" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Maximum Borrowing Capacity </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_AF5AFAC36B02B7E814CC7842240A6F02" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_AF5AFAC36B02B7E814CC7842240A6F02" xlink:to="lab_us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity_AF5AFAC36B02B7E814CC7842240A6F02" xlink:type="arc"/>
<link:label id="lab_acc_LineOfCreditFacilityNumberOfMaturityPeriods_29F088FB85EC07781DB57842240A3D9F_terseLabel_en-US" xlink:label="lab_acc_LineOfCreditFacilityNumberOfMaturityPeriods_29F088FB85EC07781DB57842240A3D9F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of maturity periods </link:label>
<link:label id="lab_acc_LineOfCreditFacilityNumberOfMaturityPeriods_29F088FB85EC07781DB57842240A3D9F_label_en-US" xlink:label="lab_acc_LineOfCreditFacilityNumberOfMaturityPeriods_29F088FB85EC07781DB57842240A3D9F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line Of Credit Facility, Number Of Maturity Periods </link:label>
<link:label id="lab_acc_LineOfCreditFacilityNumberOfMaturityPeriods_29F088FB85EC07781DB57842240A3D9F_documentation_en-US" xlink:label="lab_acc_LineOfCreditFacilityNumberOfMaturityPeriods_29F088FB85EC07781DB57842240A3D9F" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Line Of Credit Facility, Number Of Maturity Periods </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_LineOfCreditFacilityNumberOfMaturityPeriods" xlink:label="loc_acc_LineOfCreditFacilityNumberOfMaturityPeriods_29F088FB85EC07781DB57842240A3D9F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_LineOfCreditFacilityNumberOfMaturityPeriods_29F088FB85EC07781DB57842240A3D9F" xlink:to="lab_acc_LineOfCreditFacilityNumberOfMaturityPeriods_29F088FB85EC07781DB57842240A3D9F" xlink:type="arc"/>
<link:label id="lab_acc_LineOfCreditFacilityAdditionalBorrowingCapacity_7B8179C04190CE7D0DB17842240A07E8_terseLabel_en-US" xlink:label="lab_acc_LineOfCreditFacilityAdditionalBorrowingCapacity_7B8179C04190CE7D0DB17842240A07E8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Credit facility, additional borrowing capacity (up to) </link:label>
<link:label id="lab_acc_LineOfCreditFacilityAdditionalBorrowingCapacity_7B8179C04190CE7D0DB17842240A07E8_label_en-US" xlink:label="lab_acc_LineOfCreditFacilityAdditionalBorrowingCapacity_7B8179C04190CE7D0DB17842240A07E8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line Of Credit Facility Additional Borrowing Capacity </link:label>
<link:label id="lab_acc_LineOfCreditFacilityAdditionalBorrowingCapacity_7B8179C04190CE7D0DB17842240A07E8_documentation_en-US" xlink:label="lab_acc_LineOfCreditFacilityAdditionalBorrowingCapacity_7B8179C04190CE7D0DB17842240A07E8" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Amount of additional borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_LineOfCreditFacilityAdditionalBorrowingCapacity" xlink:label="loc_acc_LineOfCreditFacilityAdditionalBorrowingCapacity_7B8179C04190CE7D0DB17842240A07E8" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_LineOfCreditFacilityAdditionalBorrowingCapacity_7B8179C04190CE7D0DB17842240A07E8" xlink:to="lab_acc_LineOfCreditFacilityAdditionalBorrowingCapacity_7B8179C04190CE7D0DB17842240A07E8" xlink:type="arc"/>
<link:label id="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_6105B0B72048178050617842240A7DFF_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_6105B0B72048178050617842240A7DFF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Line of credit, required unused commitment fee per annum (percent) </link:label>
<link:label id="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_6105B0B72048178050617842240A7DFF_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_6105B0B72048178050617842240A7DFF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Unused Capacity, Commitment Fee Percentage </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage" xlink:label="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_6105B0B72048178050617842240A7DFF" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_6105B0B72048178050617842240A7DFF" xlink:to="lab_us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage_6105B0B72048178050617842240A7DFF" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_F57F7A30C2245E324A667842240A237D_terseLabel_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate_F57F7A30C2245E324A667842240A237D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Weighted average annual interest rate (percent) </link:label>
<link:label id="lab_us-gaap_DebtWeightedAverageInterestRate_F57F7A30C2245E324A667842240A237D_label_en-US" xlink:label="lab_us-gaap_DebtWeightedAverageInterestRate_F57F7A30C2245E324A667842240A237D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt, Weighted Average Interest Rate </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtWeightedAverageInterestRate" xlink:label="loc_us-gaap_DebtWeightedAverageInterestRate_F57F7A30C2245E324A667842240A237D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtWeightedAverageInterestRate_F57F7A30C2245E324A667842240A237D" xlink:to="lab_us-gaap_DebtWeightedAverageInterestRate_F57F7A30C2245E324A667842240A237D" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_359CFAF4091E62A85C3B7842240A5627_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_359CFAF4091E62A85C3B7842240A5627" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Stated percentage </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentage" xlink:label="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_359CFAF4091E62A85C3B7842240A5627" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentInterestRateStatedPercentage_359CFAF4091E62A85C3B7842240A5627" xlink:to="lab_us-gaap_DebtInstrumentInterestRateStatedPercentage_359CFAF4091E62A85C3B7842240A5627" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A2AF1B06E7BDCA32FAE47842240AA652_terseLabel_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A2AF1B06E7BDCA32FAE47842240AA652" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Basis spread on variable rate </link:label>
<link:label id="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A2AF1B06E7BDCA32FAE47842240AA652_label_en-US" xlink:label="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A2AF1B06E7BDCA32FAE47842240AA652" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Instrument, Basis Spread on Variable Rate </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:label="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A2AF1B06E7BDCA32FAE47842240AA652" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A2AF1B06E7BDCA32FAE47842240AA652" xlink:to="lab_us-gaap_DebtInstrumentBasisSpreadOnVariableRate1_A2AF1B06E7BDCA32FAE47842240AA652" xlink:type="arc"/>
<link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_8B302A12BD717E9328EC7842240AB869_terseLabel_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_8B302A12BD717E9328EC7842240AB869" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Current borrowing capacity of credit facility </link:label>
<link:label id="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_8B302A12BD717E9328EC7842240AB869_label_en-US" xlink:label="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_8B302A12BD717E9328EC7842240AB869" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Remaining Borrowing Capacity </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity" xlink:label="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_8B302A12BD717E9328EC7842240AB869" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_8B302A12BD717E9328EC7842240AB869" xlink:to="lab_us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity_8B302A12BD717E9328EC7842240AB869" xlink:type="arc"/>
<link:label id="lab_acc_LineofCreditFacilityAccordionFeatureIncreaseLimit_62066F5231F2ECDA6B6C7842240A8553_terseLabel_en-US" xlink:label="lab_acc_LineofCreditFacilityAccordionFeatureIncreaseLimit_62066F5231F2ECDA6B6C7842240A8553" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Line of credit facility, accordion feature (up to) </link:label>
<link:label id="lab_acc_LineofCreditFacilityAccordionFeatureIncreaseLimit_62066F5231F2ECDA6B6C7842240A8553_label_en-US" xlink:label="lab_acc_LineofCreditFacilityAccordionFeatureIncreaseLimit_62066F5231F2ECDA6B6C7842240A8553" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Accordion Feature, Increase Limit </link:label>
<link:label id="lab_acc_LineofCreditFacilityAccordionFeatureIncreaseLimit_62066F5231F2ECDA6B6C7842240A8553_documentation_en-US" xlink:label="lab_acc_LineofCreditFacilityAccordionFeatureIncreaseLimit_62066F5231F2ECDA6B6C7842240A8553" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Line of Credit Facility, Accordion Feature, Increase Limit </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_LineofCreditFacilityAccordionFeatureIncreaseLimit" xlink:label="loc_acc_LineofCreditFacilityAccordionFeatureIncreaseLimit_62066F5231F2ECDA6B6C7842240A8553" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_LineofCreditFacilityAccordionFeatureIncreaseLimit_62066F5231F2ECDA6B6C7842240A8553" xlink:to="lab_acc_LineofCreditFacilityAccordionFeatureIncreaseLimit_62066F5231F2ECDA6B6C7842240A8553" xlink:type="arc"/>
<link:label id="lab_us-gaap_NumberOfReportableSegments_2455F180000662D28A2F02CB026C4C52_terseLabel_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments_2455F180000662D28A2F02CB026C4C52" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Identified reportable segments (segments) </link:label>
<link:label id="lab_us-gaap_NumberOfReportableSegments_2455F180000662D28A2F02CB026C4C52_label_en-US" xlink:label="lab_us-gaap_NumberOfReportableSegments_2455F180000662D28A2F02CB026C4C52" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of Reportable Segments </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NumberOfReportableSegments" xlink:label="loc_us-gaap_NumberOfReportableSegments_2455F180000662D28A2F02CB026C4C52" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfReportableSegments_2455F180000662D28A2F02CB026C4C52" xlink:to="lab_us-gaap_NumberOfReportableSegments_2455F180000662D28A2F02CB026C4C52" xlink:type="arc"/>
<link:label id="lab_us-gaap_DebtDisclosureTextBlock_2673D2E00DFDC38A1E5184B8EE4B1DF5_terseLabel_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock_B8D891DAB4D55EC9AA9C3FECEDD41A7D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Debt </link:label>
<link:label id="lab_us-gaap_DebtDisclosureTextBlock_2673D2E00DFDC38A1E5184B8EE4B1DF5_label_en-US" xlink:label="lab_us-gaap_DebtDisclosureTextBlock_B8D891DAB4D55EC9AA9C3FECEDD41A7D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Debt Disclosure [Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:label="loc_us-gaap_DebtDisclosureTextBlock_B8D891DAB4D55EC9AA9C3FECEDD41A7D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DebtDisclosureTextBlock_B8D891DAB4D55EC9AA9C3FECEDD41A7D" xlink:to="lab_us-gaap_DebtDisclosureTextBlock_B8D891DAB4D55EC9AA9C3FECEDD41A7D" xlink:type="arc"/>
<link:label id="lab_acc_ScheduleofPropertiesClassifiedasHeldforSaleTableTextBlock_34D4CBB33CE366B700FE84B8EEA3BCB0_terseLabel_en-US" xlink:label="lab_acc_ScheduleofPropertiesClassifiedasHeldforSaleTableTextBlock_BDF90A2065D7562B9610D3116B364BF9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of properties classified as held for sale </link:label>
<link:label id="lab_acc_ScheduleofPropertiesClassifiedasHeldforSaleTableTextBlock_34D4CBB33CE366B700FE84B8EEA3BCB0_label_en-US" xlink:label="lab_acc_ScheduleofPropertiesClassifiedasHeldforSaleTableTextBlock_BDF90A2065D7562B9610D3116B364BF9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Properties Classified as Held for Sale [Table Text Block] </link:label>
<link:label id="lab_acc_ScheduleofPropertiesClassifiedasHeldforSaleTableTextBlock_34D4CBB33CE366B700FE84B8EEA3BCB0_documentation_en-US" xlink:label="lab_acc_ScheduleofPropertiesClassifiedasHeldforSaleTableTextBlock_BDF90A2065D7562B9610D3116B364BF9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> [Table Text Block] for Schedule of Properties Classified as Held for Sale [Table] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_ScheduleofPropertiesClassifiedasHeldforSaleTableTextBlock" xlink:label="loc_acc_ScheduleofPropertiesClassifiedasHeldforSaleTableTextBlock_BDF90A2065D7562B9610D3116B364BF9" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_ScheduleofPropertiesClassifiedasHeldforSaleTableTextBlock_BDF90A2065D7562B9610D3116B364BF9" xlink:to="lab_acc_ScheduleofPropertiesClassifiedasHeldforSaleTableTextBlock_BDF90A2065D7562B9610D3116B364BF9" xlink:type="arc"/>
<link:label id="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_F6335E6504D458F9ED3284B8EEA5BBF1_terseLabel_en-US" xlink:label="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_8E0D2F38FE9A5F8E9004FBEE015052BB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Property Dispositions </link:label>
<link:label id="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_F6335E6504D458F9ED3284B8EEA5BBF1_label_en-US" xlink:label="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_8E0D2F38FE9A5F8E9004FBEE015052BB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock" xlink:label="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_8E0D2F38FE9A5F8E9004FBEE015052BB" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_8E0D2F38FE9A5F8E9004FBEE015052BB" xlink:to="lab_us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock_8E0D2F38FE9A5F8E9004FBEE015052BB" xlink:type="arc"/>
<link:label id="lab_acc_OwnedOnCampusPropertiesMember_B2399E16C309B4AC3AF984B8EEDAB902_terseLabel_en-US" xlink:label="lab_acc_OwnedOnCampusPropertiesMember_0B326F45805E524F81A0D4FDA898163D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Owned On Campus Properties </link:label>
<link:label id="lab_acc_OwnedOnCampusPropertiesMember_B2399E16C309B4AC3AF984B8EEDAB902_label_en-US" xlink:label="lab_acc_OwnedOnCampusPropertiesMember_0B326F45805E524F81A0D4FDA898163D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Owned On Campus Properties [Member] </link:label>
<link:label id="lab_acc_OwnedOnCampusPropertiesMember_B2399E16C309B4AC3AF984B8EEDAB902_documentation_en-US" xlink:label="lab_acc_OwnedOnCampusPropertiesMember_0B326F45805E524F81A0D4FDA898163D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Owned On Campus Properties </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_OwnedOnCampusPropertiesMember" xlink:label="loc_acc_OwnedOnCampusPropertiesMember_0B326F45805E524F81A0D4FDA898163D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_OwnedOnCampusPropertiesMember_0B326F45805E524F81A0D4FDA898163D" xlink:to="lab_acc_OwnedOnCampusPropertiesMember_0B326F45805E524F81A0D4FDA898163D" xlink:type="arc"/>
<link:label id="lab_acc_ManagementAndLeasingServicesMember_C82B38A3F177216F849884B8EEDAD785_terseLabel_en-US" xlink:label="lab_acc_ManagementAndLeasingServicesMember_03504E38D42D5DDB90E3B5AFC32242E4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Management And Leasing Services </link:label>
<link:label id="lab_acc_ManagementAndLeasingServicesMember_C82B38A3F177216F849884B8EEDAD785_label_en-US" xlink:label="lab_acc_ManagementAndLeasingServicesMember_03504E38D42D5DDB90E3B5AFC32242E4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Management and Leasing Services [Member] </link:label>
<link:label id="lab_acc_ManagementAndLeasingServicesMember_C82B38A3F177216F849884B8EEDAD785_documentation_en-US" xlink:label="lab_acc_ManagementAndLeasingServicesMember_03504E38D42D5DDB90E3B5AFC32242E4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents management and leasing services. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_ManagementAndLeasingServicesMember" xlink:label="loc_acc_ManagementAndLeasingServicesMember_03504E38D42D5DDB90E3B5AFC32242E4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_ManagementAndLeasingServicesMember_03504E38D42D5DDB90E3B5AFC32242E4" xlink:to="lab_acc_ManagementAndLeasingServicesMember_03504E38D42D5DDB90E3B5AFC32242E4" xlink:type="arc"/>
<link:label id="lab_us-gaap_RealEstateInvestmentMember_9D0489616B852A3BC7F484B8EEDAF65C_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentMember_7B497C66B08F5A0FBAAF171BA1D4BE9B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Real Estate Investment </link:label>
<link:label id="lab_us-gaap_RealEstateInvestmentMember_9D0489616B852A3BC7F484B8EEDAF65C_label_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentMember_7B497C66B08F5A0FBAAF171BA1D4BE9B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Investment [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateInvestmentMember" xlink:label="loc_us-gaap_RealEstateInvestmentMember_7B497C66B08F5A0FBAAF171BA1D4BE9B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentMember_7B497C66B08F5A0FBAAF171BA1D4BE9B" xlink:to="lab_us-gaap_RealEstateInvestmentMember_7B497C66B08F5A0FBAAF171BA1D4BE9B" xlink:type="arc"/>
<link:label id="lab_acc_OffCampusPropertiesMember_FE42F74342F79139356384B8EEDAE56A_terseLabel_en-US" xlink:label="lab_acc_OffCampusPropertiesMember_BDBF1BE7265F519DA48AB771AB73F1CE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Off Campus Properties </link:label>
<link:label id="lab_acc_OffCampusPropertiesMember_FE42F74342F79139356384B8EEDAE56A_label_en-US" xlink:label="lab_acc_OffCampusPropertiesMember_BDBF1BE7265F519DA48AB771AB73F1CE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Off Campus Properties [Member] </link:label>
<link:label id="lab_acc_OffCampusPropertiesMember_FE42F74342F79139356384B8EEDAE56A_documentation_en-US" xlink:label="lab_acc_OffCampusPropertiesMember_BDBF1BE7265F519DA48AB771AB73F1CE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents off campus properties. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_OffCampusPropertiesMember" xlink:label="loc_acc_OffCampusPropertiesMember_BDBF1BE7265F519DA48AB771AB73F1CE" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_OffCampusPropertiesMember_BDBF1BE7265F519DA48AB771AB73F1CE" xlink:to="lab_acc_OffCampusPropertiesMember_BDBF1BE7265F519DA48AB771AB73F1CE" xlink:type="arc"/>
<link:label id="lab_acc_AmericanCampusEquityMember_043522D52A5C6AC53FC184B8EEDAED2F_terseLabel_en-US" xlink:label="lab_acc_AmericanCampusEquityMember_42F518F4948F5F219FABBB04335540FF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> American Campus Equity </link:label>
<link:label id="lab_acc_AmericanCampusEquityMember_043522D52A5C6AC53FC184B8EEDAED2F_label_en-US" xlink:label="lab_acc_AmericanCampusEquityMember_42F518F4948F5F219FABBB04335540FF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> American Campus Equity [Member] </link:label>
<link:label id="lab_acc_AmericanCampusEquityMember_043522D52A5C6AC53FC184B8EEDAED2F_documentation_en-US" xlink:label="lab_acc_AmericanCampusEquityMember_42F518F4948F5F219FABBB04335540FF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents American campus equity. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_AmericanCampusEquityMember" xlink:label="loc_acc_AmericanCampusEquityMember_42F518F4948F5F219FABBB04335540FF" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_AmericanCampusEquityMember_42F518F4948F5F219FABBB04335540FF" xlink:to="lab_acc_AmericanCampusEquityMember_42F518F4948F5F219FABBB04335540FF" xlink:type="arc"/>
<link:label id="lab_acc_UnderDevelopmentMember_D41F5442F2C1AD2C2A3784B8EEDACE80_terseLabel_en-US" xlink:label="lab_acc_UnderDevelopmentMember_09798D5B4231502CB3D5D6F9AAA3C800" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Under Development </link:label>
<link:label id="lab_acc_UnderDevelopmentMember_D41F5442F2C1AD2C2A3784B8EEDACE80_label_en-US" xlink:label="lab_acc_UnderDevelopmentMember_09798D5B4231502CB3D5D6F9AAA3C800" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Under Development [Member] </link:label>
<link:label id="lab_acc_UnderDevelopmentMember_D41F5442F2C1AD2C2A3784B8EEDACE80_documentation_en-US" xlink:label="lab_acc_UnderDevelopmentMember_09798D5B4231502CB3D5D6F9AAA3C800" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Under Development [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_UnderDevelopmentMember" xlink:label="loc_acc_UnderDevelopmentMember_09798D5B4231502CB3D5D6F9AAA3C800" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_UnderDevelopmentMember_09798D5B4231502CB3D5D6F9AAA3C800" xlink:to="lab_acc_UnderDevelopmentMember_09798D5B4231502CB3D5D6F9AAA3C800" xlink:type="arc"/>
<link:label id="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest_1368DC1443AB3BDEA1FB84B8EEDB6035_terseLabel_en-US" xlink:label="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest_71E0D45B3D64516A9A71915B7B2B790F" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> General Partner ownership interest (percent) (less than) </link:label>
<link:label id="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest_1368DC1443AB3BDEA1FB84B8EEDB6035_label_en-US" xlink:label="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest_71E0D45B3D64516A9A71915B7B2B790F" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest" xlink:label="loc_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest_71E0D45B3D64516A9A71915B7B2B790F" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest_71E0D45B3D64516A9A71915B7B2B790F" xlink:to="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest_71E0D45B3D64516A9A71915B7B2B790F" xlink:type="arc"/>
<link:label id="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_EB827F437FE7F3B251DD84B8EEDBEAEA_terseLabel_en-US" xlink:label="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_779BD0D1F5295EF2AD0BDCA6C8537A5C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Limited Partner ownership interest (percent) </link:label>
<link:label id="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_EB827F437FE7F3B251DD84B8EEDBEAEA_label_en-US" xlink:label="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_779BD0D1F5295EF2AD0BDCA6C8537A5C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest" xlink:label="loc_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_779BD0D1F5295EF2AD0BDCA6C8537A5C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_779BD0D1F5295EF2AD0BDCA6C8537A5C" xlink:to="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_779BD0D1F5295EF2AD0BDCA6C8537A5C" xlink:type="arc"/>
<link:label id="lab_acc_NumberOfHousingProperties_DAE9D1A3E07C086033DD84B8EEDB69EA_terseLabel_en-US" xlink:label="lab_acc_NumberOfHousingProperties_E231EB705FF45B848242F0286286022B" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of housing properties </link:label>
<link:label id="lab_acc_NumberOfHousingProperties_DAE9D1A3E07C086033DD84B8EEDB69EA_label_en-US" xlink:label="lab_acc_NumberOfHousingProperties_E231EB705FF45B848242F0286286022B" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number Of Housing Properties </link:label>
<link:label id="lab_acc_NumberOfHousingProperties_DAE9D1A3E07C086033DD84B8EEDB69EA_documentation_en-US" xlink:label="lab_acc_NumberOfHousingProperties_E231EB705FF45B848242F0286286022B" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents the number of student housing properties. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberOfHousingProperties" xlink:label="loc_acc_NumberOfHousingProperties_E231EB705FF45B848242F0286286022B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberOfHousingProperties_E231EB705FF45B848242F0286286022B" xlink:to="lab_acc_NumberOfHousingProperties_E231EB705FF45B848242F0286286022B" xlink:type="arc"/>
<link:label id="lab_acc_NumberOfSystems_31A3F3E59FBB5FAAF63B84B8EEDB6C8F_terseLabel_en-US" xlink:label="lab_acc_NumberOfSystems_54E4693952345E03BFDA089D5FEE14D7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of university systems </link:label>
<link:label id="lab_acc_NumberOfSystems_31A3F3E59FBB5FAAF63B84B8EEDB6C8F_label_en-US" xlink:label="lab_acc_NumberOfSystems_54E4693952345E03BFDA089D5FEE14D7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number Of Systems </link:label>
<link:label id="lab_acc_NumberOfSystems_31A3F3E59FBB5FAAF63B84B8EEDB6C8F_documentation_en-US" xlink:label="lab_acc_NumberOfSystems_54E4693952345E03BFDA089D5FEE14D7" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents number of systems. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberOfSystems" xlink:label="loc_acc_NumberOfSystems_54E4693952345E03BFDA089D5FEE14D7" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberOfSystems_54E4693952345E03BFDA089D5FEE14D7" xlink:to="lab_acc_NumberOfSystems_54E4693952345E03BFDA089D5FEE14D7" xlink:type="arc"/>
<link:label id="lab_acc_NumberofRealEstatePropertiesUnderConstruction_24F95FB5C99BD4DC417584B8EEDBCEF2_terseLabel_en-US" xlink:label="lab_acc_NumberofRealEstatePropertiesUnderConstruction_8576567B49E45726B4DD17C83BE8C085" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of properties under construction </link:label>
<link:label id="lab_acc_NumberofRealEstatePropertiesUnderConstruction_24F95FB5C99BD4DC417584B8EEDBCEF2_label_en-US" xlink:label="lab_acc_NumberofRealEstatePropertiesUnderConstruction_8576567B49E45726B4DD17C83BE8C085" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of Real Estate Properties Under Construction </link:label>
<link:label id="lab_acc_NumberofRealEstatePropertiesUnderConstruction_24F95FB5C99BD4DC417584B8EEDBCEF2_documentation_en-US" xlink:label="lab_acc_NumberofRealEstatePropertiesUnderConstruction_8576567B49E45726B4DD17C83BE8C085" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of Real Estate Properties Under Construction </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberofRealEstatePropertiesUnderConstruction" xlink:label="loc_acc_NumberofRealEstatePropertiesUnderConstruction_8576567B49E45726B4DD17C83BE8C085" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberofRealEstatePropertiesUnderConstruction_8576567B49E45726B4DD17C83BE8C085" xlink:to="lab_acc_NumberofRealEstatePropertiesUnderConstruction_8576567B49E45726B4DD17C83BE8C085" xlink:type="arc"/>
<link:label id="lab_acc_ManagementandLeasingServicesInitialTermofContract_97D3320AA43E3DA7EF1A84B8EEDB76DD_terseLabel_en-US" xlink:label="lab_acc_ManagementandLeasingServicesInitialTermofContract_68A55DFF000C508095572EB48AAB4414" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Initial term of contract </link:label>
<link:label id="lab_acc_ManagementandLeasingServicesInitialTermofContract_97D3320AA43E3DA7EF1A84B8EEDB76DD_label_en-US" xlink:label="lab_acc_ManagementandLeasingServicesInitialTermofContract_68A55DFF000C508095572EB48AAB4414" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Management and Leasing Services, Initial Term of Contract </link:label>
<link:label id="lab_acc_ManagementandLeasingServicesInitialTermofContract_97D3320AA43E3DA7EF1A84B8EEDB76DD_documentation_en-US" xlink:label="lab_acc_ManagementandLeasingServicesInitialTermofContract_68A55DFF000C508095572EB48AAB4414" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Management and Leasing Services, Initial Term of Contract </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_ManagementandLeasingServicesInitialTermofContract" xlink:label="loc_acc_ManagementandLeasingServicesInitialTermofContract_68A55DFF000C508095572EB48AAB4414" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_ManagementandLeasingServicesInitialTermofContract_68A55DFF000C508095572EB48AAB4414" xlink:to="lab_acc_ManagementandLeasingServicesInitialTermofContract_68A55DFF000C508095572EB48AAB4414" xlink:type="arc"/>
<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_5AF009957F81EAC371A484B8ECEC2412_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_59E5A23B1B835F46B1DDE13289FBAD09" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies Disclosure [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_59E5A23B1B835F46B1DDE13289FBAD09" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_59E5A23B1B835F46B1DDE13289FBAD09" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureAbstract_59E5A23B1B835F46B1DDE13289FBAD09" xlink:type="arc"/>
<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_B5457BAD620F4D9EDF1A84B8ECECFE6A_terseLabel_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_4431B49A86A45E6EA4DEB908D686138A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies </link:label>
<link:label id="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_B5457BAD620F4D9EDF1A84B8ECECFE6A_label_en-US" xlink:label="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_4431B49A86A45E6EA4DEB908D686138A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commitments and Contingencies Disclosure [Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:label="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_4431B49A86A45E6EA4DEB908D686138A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_4431B49A86A45E6EA4DEB908D686138A" xlink:to="lab_us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_4431B49A86A45E6EA4DEB908D686138A" xlink:type="arc"/>
<link:label id="lab_us-gaap_ScheduleOfStockholdersEquityTableTextBlock_78B66A8F54F403B04ABE0229D5EE9D46_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfStockholdersEquityTableTextBlock_78B66A8F54F403B04ABE0229D5EE9D46" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Summary of equity program activity </link:label>
<link:label id="lab_us-gaap_ScheduleOfStockholdersEquityTableTextBlock_78B66A8F54F403B04ABE0229D5EE9D46_label_en-US" xlink:label="lab_us-gaap_ScheduleOfStockholdersEquityTableTextBlock_78B66A8F54F403B04ABE0229D5EE9D46" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Stockholders Equity [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_F83797B0E8CE601A2FCA84B8EECED40C_terseLabel_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_6A666E5EA4BD5BACA573EAD0CDD1A241" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of estimated useful lives of assets </link:label>
<link:label id="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_F83797B0E8CE601A2FCA84B8EECED40C_label_en-US" xlink:label="lab_us-gaap_PropertyPlantAndEquipmentTextBlock_6A666E5EA4BD5BACA573EAD0CDD1A241" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Property, Plant and Equipment [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_03324C98FBF0D3A791AF84B8EECE7E36_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_DBB7EA1261F25A4693485E90452ABAEF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of potentially dilutive securities not included in calculating diluted earnings per share </link:label>
<link:label id="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_03324C98FBF0D3A791AF84B8EECE7E36_label_en-US" xlink:label="lab_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_DBB7EA1261F25A4693485E90452ABAEF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock" xlink:label="loc_us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_DBB7EA1261F25A4693485E90452ABAEF" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_62A75D16C6A05AC275DE84B8EECEC120_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_804F3C01CC4453A2BE6A59C0D4271B0E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of summary of elements used in calculating basic earnings per share/unit </link:label>
<link:label id="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_62A75D16C6A05AC275DE84B8EECEC120_label_en-US" xlink:label="lab_us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_804F3C01CC4453A2BE6A59C0D4271B0E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] </link:label>
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<link:label id="lab_us-gaap_EarningsPerUnitAbstract_F4A60F1442AF40AC8474021E819621EF_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerUnitAbstract_F4A60F1442AF40AC8474021E819621EF" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Numerator – basic and diluted earnings per unit: </link:label>
<link:label id="lab_us-gaap_EarningsPerUnitAbstract_F4A60F1442AF40AC8474021E819621EF_label_en-US" xlink:label="lab_us-gaap_EarningsPerUnitAbstract_F4A60F1442AF40AC8474021E819621EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Earnings Per Unit [Abstract] </link:label>
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<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_26671708A70D1C2668B7021E819696B1_negatedTerseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_26671708A70D1C2668B7021E819696B1" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Net income attributable to noncontrolling interests – partially owned properties </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity_26671708A70D1C2668B7021E819696B1" xlink:type="locator"/>
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<link:label id="lab_acc_PreferredStockDividendsAndOtherAdjustmentsContinuingOperations_B405D09AD808F1E4375E021E81966765_negatedLabel_en-US" xlink:label="lab_acc_PreferredStockDividendsAndOtherAdjustmentsContinuingOperations_B405D09AD808F1E4375E021E81966765" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US"> Series A preferred unit distributions </link:label>
<link:label id="lab_acc_PreferredStockDividendsAndOtherAdjustmentsContinuingOperations_B405D09AD808F1E4375E021E81966765_label_en-US" xlink:label="lab_acc_PreferredStockDividendsAndOtherAdjustmentsContinuingOperations_B405D09AD808F1E4375E021E81966765" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Preferred Stock Dividends and Other Adjustments Continuing Operations </link:label>
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<link:label id="lab_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding_65D292C0F67015BEE74F021E8196B973_positiveLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding_65D292C0F67015BEE74F021E8196B973" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US"> Basic weighted average common units outstanding (in units) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding" xlink:label="loc_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstanding_65D292C0F67015BEE74F021E8196B973" xlink:type="locator"/>
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<link:label id="lab_us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment_209DDC232D3A2FE75DB9021E81964167_verboseLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment_209DDC232D3A2FE75DB9021E81964167" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Unvested Restricted Stock Awards (in units) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment" xlink:label="loc_us-gaap_WeightedAverageNumerDilutedLimitedPartnershipUnitsOutstandingAdjustment_209DDC232D3A2FE75DB9021E81964167" xlink:type="locator"/>
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<link:label id="lab_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstandingDiluted_9D41420900BE29B10FFA021E8196D1C3_totalLabel_en-US" xlink:label="lab_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstandingDiluted_9D41420900BE29B10FFA021E8196D1C3" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US"> Diluted weighted average common units outstanding (in units) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_WeightedAverageLimitedPartnershipUnitsOutstandingDiluted" xlink:label="loc_us-gaap_WeightedAverageLimitedPartnershipUnitsOutstandingDiluted_9D41420900BE29B10FFA021E8196D1C3" xlink:type="locator"/>
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<link:label id="lab_us-gaap_EarningsPerLimitedPartnershipUnitAbstract_E335AD179643896CA814021E81961077_verboseLabel_en-US" xlink:label="lab_us-gaap_EarningsPerLimitedPartnershipUnitAbstract_E335AD179643896CA814021E81961077" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Earnings per unit: </link:label>
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<link:label id="lab_us-gaap_IncomeLossFromContinuingOperationsPerOutstandingLimitedPartnershipUnitBasicNetOfTax_BA3B26BB43CC539FD5B30226B3583B1A_verboseLabel_en-US" xlink:label="lab_us-gaap_IncomeLossFromContinuingOperationsPerOutstandingLimitedPartnershipUnitBasicNetOfTax_BA3B26BB43CC539FD5B30226B3583B1A" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Net (loss) income attributable to common unitholders - basic (in dollars per unit) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsPerOutstandingLimitedPartnershipUnitBasicNetOfTax" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsPerOutstandingLimitedPartnershipUnitBasicNetOfTax_BA3B26BB43CC539FD5B30226B3583B1A" xlink:type="locator"/>
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<link:label id="lab_us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted_BC5C04A6CB3F877242300226FC059369_verboseLabel_en-US" xlink:label="lab_us-gaap_NetIncomeLossNetOfTaxPerOutstandingLimitedPartnershipUnitDiluted_BC5C04A6CB3F877242300226FC059369" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Net (loss) income attributable to common unitholders - diluted (in dollars per unit) </link:label>
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<link:label id="lab_acc_PhasesPlacedInServiceBetween1996And1998Member_6A52FACCCD37EBB4ACD984B8EE514BD5_terseLabel_en-US" xlink:label="lab_acc_PhasesPlacedInServiceBetween1996And1998Member_23FFD17B35E3522689BF0112AA0B23BE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Texas A&M University System / Prairie View A&M University between 1996 and 1998 </link:label>
<link:label id="lab_acc_PhasesPlacedInServiceBetween1996And1998Member_6A52FACCCD37EBB4ACD984B8EE514BD5_label_en-US" xlink:label="lab_acc_PhasesPlacedInServiceBetween1996And1998Member_23FFD17B35E3522689BF0112AA0B23BE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Phases Placed In Service Between 1996 and 1998 [Member] </link:label>
<link:label id="lab_acc_PhasesPlacedInServiceBetween1996And1998Member_6A52FACCCD37EBB4ACD984B8EE514BD5_documentation_en-US" xlink:label="lab_acc_PhasesPlacedInServiceBetween1996And1998Member_23FFD17B35E3522689BF0112AA0B23BE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Phases Placed In Service Between 1996 And 1998 [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_PhasesPlacedInServiceBetween1996And1998Member" xlink:label="loc_acc_PhasesPlacedInServiceBetween1996And1998Member_23FFD17B35E3522689BF0112AA0B23BE" xlink:type="locator"/>
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<link:label id="lab_acc_PhasesPlacedInServiceIn2000And2003Member_6832889E85FC5C9E0A7584B8EE51EC3A_terseLabel_en-US" xlink:label="lab_acc_PhasesPlacedInServiceIn2000And2003Member_E73353B976DF55F19A34BDB446C7C0FA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Texas A&M University System / Prairie View A&M University between 2000 and 2003 </link:label>
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<link:label id="lab_acc_PhasesPlacedInServiceIn2001And2005Member_A43D353DC6535BB6EE0084B8EE5170F7_terseLabel_en-US" xlink:label="lab_acc_PhasesPlacedInServiceIn2001And2005Member_58347B2A94AC573D952553ACBF13CFF9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> University of Houston System / University of Houston </link:label>
<link:label id="lab_acc_PhasesPlacedInServiceIn2001And2005Member_A43D353DC6535BB6EE0084B8EE5170F7_label_en-US" xlink:label="lab_acc_PhasesPlacedInServiceIn2001And2005Member_58347B2A94AC573D952553ACBF13CFF9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Phases Placed In Service In 2001 and 2005 [Member] </link:label>
<link:label id="lab_acc_PhasesPlacedInServiceIn2001And2005Member_A43D353DC6535BB6EE0084B8EE5170F7_documentation_en-US" xlink:label="lab_acc_PhasesPlacedInServiceIn2001And2005Member_58347B2A94AC573D952553ACBF13CFF9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Phases Placed In Service in 2001 And 2005 [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_PhasesPlacedInServiceIn2001And2005Member" xlink:label="loc_acc_PhasesPlacedInServiceIn2001And2005Member_58347B2A94AC573D952553ACBF13CFF9" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_PhasesPlacedInServiceIn2001And2005Member_58347B2A94AC573D952553ACBF13CFF9" xlink:to="lab_acc_PhasesPlacedInServiceIn2001And2005Member_58347B2A94AC573D952553ACBF13CFF9" xlink:type="arc"/>
<link:label id="lab_acc_PhasesPlacedinServicein2013Member_64E704677B40F722C6F184B8EE51646B_terseLabel_en-US" xlink:label="lab_acc_PhasesPlacedinServicein2013Member_58503E2B5E1651B5AE1A3BDBA59E43E1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> West Virginia University System / West Virginia University </link:label>
<link:label id="lab_acc_PhasesPlacedinServicein2013Member_64E704677B40F722C6F184B8EE51646B_label_en-US" xlink:label="lab_acc_PhasesPlacedinServicein2013Member_58503E2B5E1651B5AE1A3BDBA59E43E1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Phases Placed in Service in 2013 [Member] </link:label>
<link:label id="lab_acc_PhasesPlacedinServicein2013Member_64E704677B40F722C6F184B8EE51646B_documentation_en-US" xlink:label="lab_acc_PhasesPlacedinServicein2013Member_58503E2B5E1651B5AE1A3BDBA59E43E1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Phases Placed in Service in 2013 [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_PhasesPlacedinServicein2013Member" xlink:label="loc_acc_PhasesPlacedinServicein2013Member_58503E2B5E1651B5AE1A3BDBA59E43E1" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_PhasesPlacedinServicein2013Member_58503E2B5E1651B5AE1A3BDBA59E43E1" xlink:to="lab_acc_PhasesPlacedinServicein2013Member_58503E2B5E1651B5AE1A3BDBA59E43E1" xlink:type="arc"/>
<link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_334C4A1373058B17402984B8EE514AFE_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C154D6182F6F5BF7A1A4FF5CD55217A3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Related Party [Axis] </link:label>
<link:label id="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_334C4A1373058B17402984B8EE514AFE_label_en-US" xlink:label="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C154D6182F6F5BF7A1A4FF5CD55217A3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Related Party [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:label="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C154D6182F6F5BF7A1A4FF5CD55217A3" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C154D6182F6F5BF7A1A4FF5CD55217A3" xlink:to="lab_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_C154D6182F6F5BF7A1A4FF5CD55217A3" xlink:type="arc"/>
<link:label id="lab_us-gaap_RelatedPartyDomain_E33FAC072D9BD1B042C884B8EE515A43_terseLabel_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain_A813DEB3C3205F4EA9F8AD35AE20EE1D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Related Party [Domain] </link:label>
<link:label id="lab_us-gaap_RelatedPartyDomain_E33FAC072D9BD1B042C884B8EE515A43_label_en-US" xlink:label="lab_us-gaap_RelatedPartyDomain_A813DEB3C3205F4EA9F8AD35AE20EE1D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Related Party [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RelatedPartyDomain" xlink:label="loc_us-gaap_RelatedPartyDomain_A813DEB3C3205F4EA9F8AD35AE20EE1D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RelatedPartyDomain_A813DEB3C3205F4EA9F8AD35AE20EE1D" xlink:to="lab_us-gaap_RelatedPartyDomain_A813DEB3C3205F4EA9F8AD35AE20EE1D" xlink:type="arc"/>
<link:label id="lab_acc_PrairieViewAAndMUniversityMember_BC54B02E741534A4E84F84B8EE51E852_terseLabel_en-US" xlink:label="lab_acc_PrairieViewAAndMUniversityMember_0933E6AE04F9575F850211CC39B53268" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Prairie View A and M University </link:label>
<link:label id="lab_acc_PrairieViewAAndMUniversityMember_BC54B02E741534A4E84F84B8EE51E852_label_en-US" xlink:label="lab_acc_PrairieViewAAndMUniversityMember_0933E6AE04F9575F850211CC39B53268" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Prairie View A and M University [Member] </link:label>
<link:label id="lab_acc_PrairieViewAAndMUniversityMember_BC54B02E741534A4E84F84B8EE51E852_documentation_en-US" xlink:label="lab_acc_PrairieViewAAndMUniversityMember_0933E6AE04F9575F850211CC39B53268" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Prairie View A And M University [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_PrairieViewAAndMUniversityMember" xlink:label="loc_acc_PrairieViewAAndMUniversityMember_0933E6AE04F9575F850211CC39B53268" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_PrairieViewAAndMUniversityMember_0933E6AE04F9575F850211CC39B53268" xlink:to="lab_acc_PrairieViewAAndMUniversityMember_0933E6AE04F9575F850211CC39B53268" xlink:type="arc"/>
<link:label id="lab_acc_TexasAAndMInternationalMember_8D81DD14983BB543599084B8EE52A56D_terseLabel_en-US" xlink:label="lab_acc_TexasAAndMInternationalMember_8F57704F64CF5D6F85F757B1C1730870" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Texas A and M International </link:label>
<link:label id="lab_acc_TexasAAndMInternationalMember_8D81DD14983BB543599084B8EE52A56D_label_en-US" xlink:label="lab_acc_TexasAAndMInternationalMember_8F57704F64CF5D6F85F757B1C1730870" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Texas A and M International [Member] </link:label>
<link:label id="lab_acc_TexasAAndMInternationalMember_8D81DD14983BB543599084B8EE52A56D_documentation_en-US" xlink:label="lab_acc_TexasAAndMInternationalMember_8F57704F64CF5D6F85F757B1C1730870" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Texas A And M International [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TexasAAndMInternationalMember" xlink:label="loc_acc_TexasAAndMInternationalMember_8F57704F64CF5D6F85F757B1C1730870" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TexasAAndMInternationalMember_8F57704F64CF5D6F85F757B1C1730870" xlink:to="lab_acc_TexasAAndMInternationalMember_8F57704F64CF5D6F85F757B1C1730870" xlink:type="arc"/>
<link:label id="lab_acc_UniversityOfHoustonMember_D516469EB376DC56A95484B8EE52277E_terseLabel_en-US" xlink:label="lab_acc_UniversityOfHoustonMember_0222E8F90C0B503AB9338AFE8AFD2E25" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> University Of Houston </link:label>
<link:label id="lab_acc_UniversityOfHoustonMember_D516469EB376DC56A95484B8EE52277E_label_en-US" xlink:label="lab_acc_UniversityOfHoustonMember_0222E8F90C0B503AB9338AFE8AFD2E25" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> University Of Houston [Member] </link:label>
<link:label id="lab_acc_UniversityOfHoustonMember_D516469EB376DC56A95484B8EE52277E_documentation_en-US" xlink:label="lab_acc_UniversityOfHoustonMember_0222E8F90C0B503AB9338AFE8AFD2E25" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> University Of Houston [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_UniversityOfHoustonMember" xlink:label="loc_acc_UniversityOfHoustonMember_0222E8F90C0B503AB9338AFE8AFD2E25" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_UniversityOfHoustonMember_0222E8F90C0B503AB9338AFE8AFD2E25" xlink:to="lab_acc_UniversityOfHoustonMember_0222E8F90C0B503AB9338AFE8AFD2E25" xlink:type="arc"/>
<link:label id="lab_acc_WestVirginiaUniversityMember_91739F8EE3E400EFCA7184B8EE52CB60_terseLabel_en-US" xlink:label="lab_acc_WestVirginiaUniversityMember_7F609EE3DC83561FBCD655AC284056C4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> West Virginia University </link:label>
<link:label id="lab_acc_WestVirginiaUniversityMember_91739F8EE3E400EFCA7184B8EE52CB60_label_en-US" xlink:label="lab_acc_WestVirginiaUniversityMember_7F609EE3DC83561FBCD655AC284056C4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> West Virginia University [Member] </link:label>
<link:label id="lab_acc_WestVirginiaUniversityMember_91739F8EE3E400EFCA7184B8EE52CB60_documentation_en-US" xlink:label="lab_acc_WestVirginiaUniversityMember_7F609EE3DC83561FBCD655AC284056C4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> West Virginia University [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_WestVirginiaUniversityMember" xlink:label="loc_acc_WestVirginiaUniversityMember_7F609EE3DC83561FBCD655AC284056C4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_WestVirginiaUniversityMember_7F609EE3DC83561FBCD655AC284056C4" xlink:to="lab_acc_WestVirginiaUniversityMember_7F609EE3DC83561FBCD655AC284056C4" xlink:type="arc"/>
<link:label id="lab_acc_LeaseCommencementDate_711CD6720CB43D5DF41284B8EE52285B_terseLabel_en-US" xlink:label="lab_acc_LeaseCommencementDate_8C62DF9EEF375860B794A8C5B201E98D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Lease Commencement </link:label>
<link:label id="lab_acc_LeaseCommencementDate_711CD6720CB43D5DF41284B8EE52285B_label_en-US" xlink:label="lab_acc_LeaseCommencementDate_8C62DF9EEF375860B794A8C5B201E98D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Lease Commencement Date </link:label>
<link:label id="lab_acc_LeaseCommencementDate_711CD6720CB43D5DF41284B8EE52285B_documentation_en-US" xlink:label="lab_acc_LeaseCommencementDate_8C62DF9EEF375860B794A8C5B201E98D" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents lease commencement date in CCYY-MM-DD format. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_LeaseCommencementDate" xlink:label="loc_acc_LeaseCommencementDate_8C62DF9EEF375860B794A8C5B201E98D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_LeaseCommencementDate_8C62DF9EEF375860B794A8C5B201E98D" xlink:to="lab_acc_LeaseCommencementDate_8C62DF9EEF375860B794A8C5B201E98D" xlink:type="arc"/>
<link:label id="lab_us-gaap_LeaseExpirationDate1_2B747E8BD327DEF2C84684B8EE52DC5A_terseLabel_en-US" xlink:label="lab_us-gaap_LeaseExpirationDate1_F43F523D91A85032B67A9D00B71DEEDB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Required Debt Repayment </link:label>
<link:label id="lab_us-gaap_LeaseExpirationDate1_2B747E8BD327DEF2C84684B8EE52DC5A_label_en-US" xlink:label="lab_us-gaap_LeaseExpirationDate1_F43F523D91A85032B67A9D00B71DEEDB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Lease Expiration Date </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LeaseExpirationDate1" xlink:label="loc_us-gaap_LeaseExpirationDate1_F43F523D91A85032B67A9D00B71DEEDB" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LeaseExpirationDate1_F43F523D91A85032B67A9D00B71DEEDB" xlink:to="lab_us-gaap_LeaseExpirationDate1_F43F523D91A85032B67A9D00B71DEEDB" xlink:type="arc"/>
<link:label id="lab_us-gaap_RealEstateInvestmentPropertyAtCost_597374959F146CBB21E084B8EE52BF95_terseLabel_en-US" xlink:label="lab_us-gaap_RealEstateInvestmentPropertyAtCost_EFDA83904D525CFBBC2FCEB2BA56CA8A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Real estate properties, gross </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_RealEstateInvestmentPropertyAtCost" xlink:label="loc_us-gaap_RealEstateInvestmentPropertyAtCost_EFDA83904D525CFBBC2FCEB2BA56CA8A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_RealEstateInvestmentPropertyAtCost_EFDA83904D525CFBBC2FCEB2BA56CA8A" xlink:to="lab_us-gaap_RealEstateInvestmentPropertyAtCost_EFDA83904D525CFBBC2FCEB2BA56CA8A" xlink:type="arc"/>
<link:label id="lab_acc_RealEstateInvestmentPropertyAccumulatedAmortization_5B4B4AFD5B1D78010FA684B8EE52A9C6_negatedTerseLabel_en-US" xlink:label="lab_acc_RealEstateInvestmentPropertyAccumulatedAmortization_8F4383C3126D50BF91DDBE49CF09D1F1" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US"> Accumulated amortization </link:label>
<link:label id="lab_acc_RealEstateInvestmentPropertyAccumulatedAmortization_5B4B4AFD5B1D78010FA684B8EE52A9C6_label_en-US" xlink:label="lab_acc_RealEstateInvestmentPropertyAccumulatedAmortization_8F4383C3126D50BF91DDBE49CF09D1F1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Real Estate Investment Property, Accumulated Amortization </link:label>
<link:label id="lab_acc_RealEstateInvestmentPropertyAccumulatedAmortization_5B4B4AFD5B1D78010FA684B8EE52A9C6_documentation_en-US" xlink:label="lab_acc_RealEstateInvestmentPropertyAccumulatedAmortization_8F4383C3126D50BF91DDBE49CF09D1F1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Real Estate Investment Property, Accumulated Amortization </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_RealEstateInvestmentPropertyAccumulatedAmortization" xlink:label="loc_acc_RealEstateInvestmentPropertyAccumulatedAmortization_8F4383C3126D50BF91DDBE49CF09D1F1" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_RealEstateInvestmentPropertyAccumulatedAmortization_8F4383C3126D50BF91DDBE49CF09D1F1" xlink:to="lab_acc_RealEstateInvestmentPropertyAccumulatedAmortization_8F4383C3126D50BF91DDBE49CF09D1F1" xlink:type="arc"/>
<link:label id="lab_acc_NumberofProjectPhases_123E3595EA87BFF25E2F84B8EE5272C5_terseLabel_en-US" xlink:label="lab_acc_NumberofProjectPhases_85888845CADA559682A4C276F7F7CAF6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of project phases </link:label>
<link:label id="lab_acc_NumberofProjectPhases_123E3595EA87BFF25E2F84B8EE5272C5_label_en-US" xlink:label="lab_acc_NumberofProjectPhases_85888845CADA559682A4C276F7F7CAF6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of Project Phases </link:label>
<link:label id="lab_acc_NumberofProjectPhases_123E3595EA87BFF25E2F84B8EE5272C5_documentation_en-US" xlink:label="lab_acc_NumberofProjectPhases_85888845CADA559682A4C276F7F7CAF6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of Project Phases </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberofProjectPhases" xlink:label="loc_acc_NumberofProjectPhases_85888845CADA559682A4C276F7F7CAF6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberofProjectPhases_85888845CADA559682A4C276F7F7CAF6" xlink:to="lab_acc_NumberofProjectPhases_85888845CADA559682A4C276F7F7CAF6" xlink:type="arc"/>
<link:label id="lab_acc_UniversityVillageatSweetHomeUniversityCentreandVillasatChestnutRidgeMember_D0D46286A5B0B64CD2A07D696A744326_terseLabel_en-US" xlink:label="lab_acc_UniversityVillageatSweetHomeUniversityCentreandVillasatChestnutRidgeMember_D0D46286A5B0B64CD2A07D696A744326" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Three Off-Campus Properties </link:label>
<link:label id="lab_acc_UniversityVillageatSweetHomeUniversityCentreandVillasatChestnutRidgeMember_D0D46286A5B0B64CD2A07D696A744326_label_en-US" xlink:label="lab_acc_UniversityVillageatSweetHomeUniversityCentreandVillasatChestnutRidgeMember_D0D46286A5B0B64CD2A07D696A744326" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> University Village at Sweet Home, University Centre, and Villas at Chestnut Ridge [Member] </link:label>
<link:label id="lab_acc_UniversityVillageatSweetHomeUniversityCentreandVillasatChestnutRidgeMember_D0D46286A5B0B64CD2A07D696A744326_documentation_en-US" xlink:label="lab_acc_UniversityVillageatSweetHomeUniversityCentreandVillasatChestnutRidgeMember_D0D46286A5B0B64CD2A07D696A744326" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> University Village at Sweet Home, University Centre, and Villas at Chestnut Ridge [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_UniversityVillageatSweetHomeUniversityCentreandVillasatChestnutRidgeMember" xlink:label="loc_acc_UniversityVillageatSweetHomeUniversityCentreandVillasatChestnutRidgeMember_D0D46286A5B0B64CD2A07D696A744326" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_UniversityVillageatSweetHomeUniversityCentreandVillasatChestnutRidgeMember_D0D46286A5B0B64CD2A07D696A744326" xlink:to="lab_acc_UniversityVillageatSweetHomeUniversityCentreandVillasatChestnutRidgeMember_D0D46286A5B0B64CD2A07D696A744326" xlink:type="arc"/>
<link:label id="lab_acc_TheJamesMember_5EC89DC07EADAD55636C7D696A742398_verboseLabel_en-US" xlink:label="lab_acc_TheJamesMember_5EC89DC07EADAD55636C7D696A742398" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> One Off-Campus Property </link:label>
<link:label id="lab_acc_TheJamesMember_5EC89DC07EADAD55636C7D696A742398_label_en-US" xlink:label="lab_acc_TheJamesMember_5EC89DC07EADAD55636C7D696A742398" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> The James [Member] </link:label>
<link:label id="lab_acc_TheJamesMember_5EC89DC07EADAD55636C7D696A742398_documentation_en-US" xlink:label="lab_acc_TheJamesMember_5EC89DC07EADAD55636C7D696A742398" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The James [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TheJamesMember" xlink:label="loc_acc_TheJamesMember_5EC89DC07EADAD55636C7D696A742398" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TheJamesMember_5EC89DC07EADAD55636C7D696A742398" xlink:to="lab_acc_TheJamesMember_5EC89DC07EADAD55636C7D696A742398" xlink:type="arc"/>
<link:label id="lab_acc_CommonOPUnitMember_6B5FAD8EF9B6A867EFFB7D696A7579B2_terseLabel_en-US" xlink:label="lab_acc_CommonOPUnitMember_6B5FAD8EF9B6A867EFFB7D696A7579B2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Common OP Unit </link:label>
<link:label id="lab_acc_CommonOPUnitMember_6B5FAD8EF9B6A867EFFB7D696A7579B2_label_en-US" xlink:label="lab_acc_CommonOPUnitMember_6B5FAD8EF9B6A867EFFB7D696A7579B2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Common OP Unit [Member] </link:label>
<link:label id="lab_acc_CommonOPUnitMember_6B5FAD8EF9B6A867EFFB7D696A7579B2_documentation_en-US" xlink:label="lab_acc_CommonOPUnitMember_6B5FAD8EF9B6A867EFFB7D696A7579B2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Common OP Unit [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_CommonOPUnitMember" xlink:label="loc_acc_CommonOPUnitMember_6B5FAD8EF9B6A867EFFB7D696A7579B2" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_CommonOPUnitMember_6B5FAD8EF9B6A867EFFB7D696A7579B2" xlink:to="lab_acc_CommonOPUnitMember_6B5FAD8EF9B6A867EFFB7D696A7579B2" xlink:type="arc"/>
<link:label id="lab_us-gaap_MinorityInterestLineItems_C5736F69170022B7A6797D696A769601_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestLineItems_C5736F69170022B7A6797D696A769601" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interest [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MinorityInterestLineItems" xlink:label="loc_us-gaap_MinorityInterestLineItems_C5736F69170022B7A6797D696A769601" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestLineItems_C5736F69170022B7A6797D696A769601" xlink:to="lab_us-gaap_MinorityInterestLineItems_C5736F69170022B7A6797D696A769601" xlink:type="arc"/>
<link:label id="lab_acc_NumberOfEntitiesThatThirdPartiesHeldNonControllingOwnership_441C8873B26C27D7ABB37D696A76DC33_terseLabel_en-US" xlink:label="lab_acc_NumberOfEntitiesThatThirdPartiesHeldNonControllingOwnership_441C8873B26C27D7ABB37D696A76DC33" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of third-party joint venture partners (entities) </link:label>
<link:label id="lab_acc_NumberOfEntitiesThatThirdPartiesHeldNonControllingOwnership_441C8873B26C27D7ABB37D696A76DC33_label_en-US" xlink:label="lab_acc_NumberOfEntitiesThatThirdPartiesHeldNonControllingOwnership_441C8873B26C27D7ABB37D696A76DC33" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number Of Entities That Third Parties Held Non Controlling Ownership </link:label>
<link:label id="lab_acc_NumberOfEntitiesThatThirdPartiesHeldNonControllingOwnership_441C8873B26C27D7ABB37D696A76DC33_documentation_en-US" xlink:label="lab_acc_NumberOfEntitiesThatThirdPartiesHeldNonControllingOwnership_441C8873B26C27D7ABB37D696A76DC33" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of entities that third parties held non controlling ownership. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberOfEntitiesThatThirdPartiesHeldNonControllingOwnership" xlink:label="loc_acc_NumberOfEntitiesThatThirdPartiesHeldNonControllingOwnership_441C8873B26C27D7ABB37D696A76DC33" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberOfEntitiesThatThirdPartiesHeldNonControllingOwnership_441C8873B26C27D7ABB37D696A76DC33" xlink:to="lab_acc_NumberOfEntitiesThatThirdPartiesHeldNonControllingOwnership_441C8873B26C27D7ABB37D696A76DC33" xlink:type="arc"/>
<link:label id="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_D0997C3B91575011F3087D696A76FB37_verboseLabel_en-US" xlink:label="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_D0997C3B91575011F3087D696A76FB37" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Conversion of operating partnership units to common stock (in shares) </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits" xlink:label="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_D0997C3B91575011F3087D696A76FB37" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_D0997C3B91575011F3087D696A76FB37" xlink:to="lab_us-gaap_StockIssuedDuringPeriodSharesConversionOfUnits_D0997C3B91575011F3087D696A76FB37" xlink:type="arc"/>
<link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_5DE9FCCB375B47ED0B7A7D696A76EEEB_terseLabel_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_5DE9FCCB375B47ED0B7A7D696A76EEEB" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Equity interests held by owners of common units and preferred units (percent) </link:label>
<link:label id="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_5DE9FCCB375B47ED0B7A7D696A76EEEB_label_en-US" xlink:label="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_5DE9FCCB375B47ED0B7A7D696A76EEEB" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners" xlink:label="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_5DE9FCCB375B47ED0B7A7D696A76EEEB" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_5DE9FCCB375B47ED0B7A7D696A76EEEB" xlink:to="lab_us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners_5DE9FCCB375B47ED0B7A7D696A76EEEB" xlink:type="arc"/>
<link:label id="lab_us-gaap_LandAvailableForDevelopment_62F12C6EA90348880DD55A282B4E13C0_terseLabel_en-US" xlink:label="lab_us-gaap_LandAvailableForDevelopment_62F12C6EA90348880DD55A282B4E13C0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Undeveloped land parcels </link:label>
<link:label id="lab_us-gaap_LandAvailableForDevelopment_62F12C6EA90348880DD55A282B4E13C0_label_en-US" xlink:label="lab_us-gaap_LandAvailableForDevelopment_62F12C6EA90348880DD55A282B4E13C0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Land Available for Development </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LandAvailableForDevelopment" xlink:label="loc_us-gaap_LandAvailableForDevelopment_62F12C6EA90348880DD55A282B4E13C0" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LandAvailableForDevelopment_62F12C6EA90348880DD55A282B4E13C0" xlink:to="lab_us-gaap_LandAvailableForDevelopment_62F12C6EA90348880DD55A282B4E13C0" xlink:type="arc"/>
<link:label id="lab_acc_NumberofRealEstatePropertiesHeldforSale_454D4F5D51C4A97987A55A282B4E3742_terseLabel_en-US" xlink:label="lab_acc_NumberofRealEstatePropertiesHeldforSale_454D4F5D51C4A97987A55A282B4E3742" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of real estate properties, held for sale </link:label>
<link:label id="lab_acc_NumberofRealEstatePropertiesHeldforSale_454D4F5D51C4A97987A55A282B4E3742_label_en-US" xlink:label="lab_acc_NumberofRealEstatePropertiesHeldforSale_454D4F5D51C4A97987A55A282B4E3742" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of Real Estate Properties, Held for Sale </link:label>
<link:label id="lab_acc_NumberofRealEstatePropertiesHeldforSale_454D4F5D51C4A97987A55A282B4E3742_documentation_en-US" xlink:label="lab_acc_NumberofRealEstatePropertiesHeldforSale_454D4F5D51C4A97987A55A282B4E3742" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of Real Estate Properties, Held for Sale </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberofRealEstatePropertiesHeldforSale" xlink:label="loc_acc_NumberofRealEstatePropertiesHeldforSale_454D4F5D51C4A97987A55A282B4E3742" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberofRealEstatePropertiesHeldforSale_454D4F5D51C4A97987A55A282B4E3742" xlink:to="lab_acc_NumberofRealEstatePropertiesHeldforSale_454D4F5D51C4A97987A55A282B4E3742" xlink:type="arc"/>
<link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_490F78921E5A4A21B04384B8ED25B098_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_F449BEF81D4A5EB2A80FE74FA1B4D4A2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosures </link:label>
<link:label id="lab_us-gaap_FairValueDisclosuresTextBlock_490F78921E5A4A21B04384B8ED25B098_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosuresTextBlock_F449BEF81D4A5EB2A80FE74FA1B4D4A2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosures [Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:label="loc_us-gaap_FairValueDisclosuresTextBlock_F449BEF81D4A5EB2A80FE74FA1B4D4A2" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosuresTextBlock_F449BEF81D4A5EB2A80FE74FA1B4D4A2" xlink:to="lab_us-gaap_FairValueDisclosuresTextBlock_F449BEF81D4A5EB2A80FE74FA1B4D4A2" xlink:type="arc"/>
<link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTable_570F8A54E2CB1DC1CE5D84B8ED01FD39_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTable_D5677089BBF5564E9CDD4B73E05EF714" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value By Balance Sheet Grouping [Table] </link:label>
<link:label id="lab_us-gaap_FairValueByBalanceSheetGroupingTable_570F8A54E2CB1DC1CE5D84B8ED01FD39_label_en-US" xlink:label="lab_us-gaap_FairValueByBalanceSheetGroupingTable_D5677089BBF5564E9CDD4B73E05EF714" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, by Balance Sheet Grouping [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueByBalanceSheetGroupingTable" xlink:label="loc_us-gaap_FairValueByBalanceSheetGroupingTable_D5677089BBF5564E9CDD4B73E05EF714" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByBalanceSheetGroupingTable_D5677089BBF5564E9CDD4B73E05EF714" xlink:to="lab_us-gaap_FairValueByBalanceSheetGroupingTable_D5677089BBF5564E9CDD4B73E05EF714" xlink:type="arc"/>
<link:label id="lab_us-gaap_FairValueByMeasurementBasisAxis_F19593F709623DEF097F84B8ED01C1C7_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementBasisAxis_CB7D128753AC5712A2EAD2EEA0E1909D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Measurement Basis [Axis] </link:label>
<link:label id="lab_us-gaap_FairValueByMeasurementBasisAxis_F19593F709623DEF097F84B8ED01C1C7_label_en-US" xlink:label="lab_us-gaap_FairValueByMeasurementBasisAxis_CB7D128753AC5712A2EAD2EEA0E1909D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Measurement Basis [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueByMeasurementBasisAxis" xlink:label="loc_us-gaap_FairValueByMeasurementBasisAxis_CB7D128753AC5712A2EAD2EEA0E1909D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueByMeasurementBasisAxis_CB7D128753AC5712A2EAD2EEA0E1909D" xlink:to="lab_us-gaap_FairValueByMeasurementBasisAxis_CB7D128753AC5712A2EAD2EEA0E1909D" xlink:type="arc"/>
<link:label id="lab_us-gaap_FairValueDisclosureItemAmountsDomain_5216AF2E0D20A3999CA584B8ED01DF6C_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueDisclosureItemAmountsDomain_AB79012B7F915DAA8A49B2661E3D3ED7" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value Disclosure Item Amounts [Domain] </link:label>
<link:label id="lab_us-gaap_FairValueDisclosureItemAmountsDomain_5216AF2E0D20A3999CA584B8ED01DF6C_label_en-US" xlink:label="lab_us-gaap_FairValueDisclosureItemAmountsDomain_AB79012B7F915DAA8A49B2661E3D3ED7" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value Measurement [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueDisclosureItemAmountsDomain" xlink:label="loc_us-gaap_FairValueDisclosureItemAmountsDomain_AB79012B7F915DAA8A49B2661E3D3ED7" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueDisclosureItemAmountsDomain_AB79012B7F915DAA8A49B2661E3D3ED7" xlink:to="lab_us-gaap_FairValueDisclosureItemAmountsDomain_AB79012B7F915DAA8A49B2661E3D3ED7" xlink:type="arc"/>
<link:label id="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember_00A7092964B831F030E784B8ED01157B_terseLabel_en-US" xlink:label="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember_62CD05D2CA4156088F910DA33B8E43FD" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Portion at Fair Value Measurement </link:label>
<link:label id="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember_00A7092964B831F030E784B8ED01157B_label_en-US" xlink:label="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember_62CD05D2CA4156088F910DA33B8E43FD" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Portion at Fair Value Measurement [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_PortionAtFairValueFairValueDisclosureMember" xlink:label="loc_us-gaap_PortionAtFairValueFairValueDisclosureMember_62CD05D2CA4156088F910DA33B8E43FD" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_PortionAtFairValueFairValueDisclosureMember_62CD05D2CA4156088F910DA33B8E43FD" xlink:to="lab_us-gaap_PortionAtFairValueFairValueDisclosureMember_62CD05D2CA4156088F910DA33B8E43FD" xlink:type="arc"/>
<link:label id="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember_80877B4965CA394731DE84B8ED02F276_terseLabel_en-US" xlink:label="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember_C27EBD3A6EEC5C82B45F98072AC60E88" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated Fair Value </link:label>
<link:label id="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember_80877B4965CA394731DE84B8ED02F276_label_en-US" xlink:label="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember_C27EBD3A6EEC5C82B45F98072AC60E88" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Estimate of Fair Value Measurement [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EstimateOfFairValueFairValueDisclosureMember" xlink:label="loc_us-gaap_EstimateOfFairValueFairValueDisclosureMember_C27EBD3A6EEC5C82B45F98072AC60E88" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_EstimateOfFairValueFairValueDisclosureMember_C27EBD3A6EEC5C82B45F98072AC60E88" xlink:to="lab_us-gaap_EstimateOfFairValueFairValueDisclosureMember_C27EBD3A6EEC5C82B45F98072AC60E88" xlink:type="arc"/>
<link:label id="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember_E9619A3BCA8466EA6E9D84B8ED027B41_terseLabel_en-US" xlink:label="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember_707150F9C6905719B3F6A648EAEBE4AC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Carrying Amount </link:label>
<link:label id="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember_E9619A3BCA8466EA6E9D84B8ED027B41_label_en-US" xlink:label="lab_us-gaap_CarryingReportedAmountFairValueDisclosureMember_707150F9C6905719B3F6A648EAEBE4AC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Reported Value Measurement [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CarryingReportedAmountFairValueDisclosureMember" xlink:label="loc_us-gaap_CarryingReportedAmountFairValueDisclosureMember_707150F9C6905719B3F6A648EAEBE4AC" xlink:type="locator"/>
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<link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_1E1BBF6FCF330553214884B8ED021244_terseLabel_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_3E551A0B487D5992936B317294004DB5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] </link:label>
<link:label id="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_1E1BBF6FCF330553214884B8ED021244_label_en-US" xlink:label="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_3E551A0B487D5992936B317294004DB5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems" xlink:label="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_3E551A0B487D5992936B317294004DB5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_3E551A0B487D5992936B317294004DB5" xlink:to="lab_us-gaap_FairValueBalanceSheetGroupingFinancialStatementCaptionsLineItems_3E551A0B487D5992936B317294004DB5" xlink:type="arc"/>
<link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_7E7F31CD56320A052D9084B8ED02CA45_verboseLabel_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract_56F35FAA253A5F969BD344059CBE5E01" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Assets: </link:label>
<link:label id="lab_us-gaap_AssetsFairValueDisclosureAbstract_7E7F31CD56320A052D9084B8ED02CA45_label_en-US" xlink:label="lab_us-gaap_AssetsFairValueDisclosureAbstract_56F35FAA253A5F969BD344059CBE5E01" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Assets, Fair Value Disclosure [Abstract] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:label="loc_us-gaap_AssetsFairValueDisclosureAbstract_56F35FAA253A5F969BD344059CBE5E01" xlink:type="locator"/>
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<link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_9180F734501E23978A9C84B8ED02C3F0_verboseLabel_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure_93D31ADCC0D55EDDAAF7AF330FF1D3F8" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Loans receivable </link:label>
<link:label id="lab_us-gaap_LoansReceivableFairValueDisclosure_9180F734501E23978A9C84B8ED02C3F0_label_en-US" xlink:label="lab_us-gaap_LoansReceivableFairValueDisclosure_93D31ADCC0D55EDDAAF7AF330FF1D3F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans Receivable, Fair Value Disclosure </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansReceivableFairValueDisclosure" xlink:label="loc_us-gaap_LoansReceivableFairValueDisclosure_93D31ADCC0D55EDDAAF7AF330FF1D3F8" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansReceivableFairValueDisclosure_93D31ADCC0D55EDDAAF7AF330FF1D3F8" xlink:to="lab_us-gaap_LoansReceivableFairValueDisclosure_93D31ADCC0D55EDDAAF7AF330FF1D3F8" xlink:type="arc"/>
<link:label id="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_DCB606955B64644ED77284B8ED02C882_verboseLabel_en-US" xlink:label="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_DFCC6D99BB3452C9923454A55F2E1737" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Liabilities: </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract_DFCC6D99BB3452C9923454A55F2E1737" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosureAbstract_DFCC6D99BB3452C9923454A55F2E1737" xlink:to="lab_us-gaap_LiabilitiesFairValueDisclosureAbstract_DFCC6D99BB3452C9923454A55F2E1737" xlink:type="arc"/>
<link:label id="lab_acc_UnsecuredNotesFairValueDisclosure_E19E201061610C87FF2684B8ED024D0F_verboseLabel_en-US" xlink:label="lab_acc_UnsecuredNotesFairValueDisclosure_2084E4061C2C5AF399B2CA3755D800D1" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Unsecured notes </link:label>
<link:label id="lab_acc_UnsecuredNotesFairValueDisclosure_E19E201061610C87FF2684B8ED024D0F_label_en-US" xlink:label="lab_acc_UnsecuredNotesFairValueDisclosure_2084E4061C2C5AF399B2CA3755D800D1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Unsecured Notes Fair Value Disclosure </link:label>
<link:label id="lab_acc_UnsecuredNotesFairValueDisclosure_E19E201061610C87FF2684B8ED024D0F_documentation_en-US" xlink:label="lab_acc_UnsecuredNotesFairValueDisclosure_2084E4061C2C5AF399B2CA3755D800D1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Fair value portion of unsecured notes payable. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_UnsecuredNotesFairValueDisclosure" xlink:label="loc_acc_UnsecuredNotesFairValueDisclosure_2084E4061C2C5AF399B2CA3755D800D1" xlink:type="locator"/>
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<link:label id="lab_us-gaap_LoansPayableFairValueDisclosure_B5AE48223C5521BD748C84B8ED022B6F_terseLabel_en-US" xlink:label="lab_us-gaap_LoansPayableFairValueDisclosure_D0D10E9FAB655927AE3624D6DECB212D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Mortgage loans payable </link:label>
<link:label id="lab_us-gaap_LoansPayableFairValueDisclosure_B5AE48223C5521BD748C84B8ED022B6F_label_en-US" xlink:label="lab_us-gaap_LoansPayableFairValueDisclosure_D0D10E9FAB655927AE3624D6DECB212D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loans Payable, Fair Value Disclosure </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LoansPayableFairValueDisclosure" xlink:label="loc_us-gaap_LoansPayableFairValueDisclosure_D0D10E9FAB655927AE3624D6DECB212D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LoansPayableFairValueDisclosure_D0D10E9FAB655927AE3624D6DECB212D" xlink:to="lab_us-gaap_LoansPayableFairValueDisclosure_D0D10E9FAB655927AE3624D6DECB212D" xlink:type="arc"/>
<link:label id="lab_us-gaap_NotesPayableFairValueDisclosure_04B882C0EF30DD86DB5F84B8ED02434E_terseLabel_en-US" xlink:label="lab_us-gaap_NotesPayableFairValueDisclosure_66511EB2E7425F9DA768131DE039230A" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Bonds payable </link:label>
<link:label id="lab_us-gaap_NotesPayableFairValueDisclosure_04B882C0EF30DD86DB5F84B8ED02434E_label_en-US" xlink:label="lab_us-gaap_NotesPayableFairValueDisclosure_66511EB2E7425F9DA768131DE039230A" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Notes Payable, Fair Value Disclosure </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NotesPayableFairValueDisclosure" xlink:label="loc_us-gaap_NotesPayableFairValueDisclosure_66511EB2E7425F9DA768131DE039230A" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NotesPayableFairValueDisclosure_66511EB2E7425F9DA768131DE039230A" xlink:to="lab_us-gaap_NotesPayableFairValueDisclosure_66511EB2E7425F9DA768131DE039230A" xlink:type="arc"/>
<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_C7AA7476CB4EBE25032E84B8ED5C2A52_terseLabel_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_D70B25C64D2F5B5DA73B10AD87E6E4F8" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Derivatives Instruments and Hedging Activities </link:label>
<link:label id="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_C7AA7476CB4EBE25032E84B8ED5C2A52_label_en-US" xlink:label="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_D70B25C64D2F5B5DA73B10AD87E6E4F8" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Derivative Instruments and Hedging Activities Disclosure [Text Block] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock" xlink:label="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_D70B25C64D2F5B5DA73B10AD87E6E4F8" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_D70B25C64D2F5B5DA73B10AD87E6E4F8" xlink:to="lab_us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_D70B25C64D2F5B5DA73B10AD87E6E4F8" xlink:type="arc"/>
<link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_BC7CDBCCD5D44E22CB947D66A6CEF2A5_terseLabel_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_BC7CDBCCD5D44E22CB947D66A6CEF2A5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Schedule of Business Acquisitions, by Acquisition [Table] </link:label>
<link:label id="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_BC7CDBCCD5D44E22CB947D66A6CEF2A5_label_en-US" xlink:label="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_BC7CDBCCD5D44E22CB947D66A6CEF2A5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Schedule of Business Acquisitions, by Acquisition [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable" xlink:label="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_BC7CDBCCD5D44E22CB947D66A6CEF2A5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_BC7CDBCCD5D44E22CB947D66A6CEF2A5" xlink:to="lab_us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTable_BC7CDBCCD5D44E22CB947D66A6CEF2A5" xlink:type="arc"/>
<link:label id="lab_acc_CoreJointVentureIIMember_CB0D49C59F4FE59E90FC7D66A6CE4EFE_terseLabel_en-US" xlink:label="lab_acc_CoreJointVentureIIMember_CB0D49C59F4FE59E90FC7D66A6CE4EFE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Core Joint Venture II </link:label>
<link:label id="lab_acc_CoreJointVentureIIMember_CB0D49C59F4FE59E90FC7D66A6CE4EFE_label_en-US" xlink:label="lab_acc_CoreJointVentureIIMember_CB0D49C59F4FE59E90FC7D66A6CE4EFE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Core Joint Venture II [Member] </link:label>
<link:label id="lab_acc_CoreJointVentureIIMember_CB0D49C59F4FE59E90FC7D66A6CE4EFE_documentation_en-US" xlink:label="lab_acc_CoreJointVentureIIMember_CB0D49C59F4FE59E90FC7D66A6CE4EFE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Core Joint Venture II [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_CoreJointVentureIIMember" xlink:label="loc_acc_CoreJointVentureIIMember_CB0D49C59F4FE59E90FC7D66A6CE4EFE" xlink:type="locator"/>
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<link:label id="lab_us-gaap_StatementScenarioAxis_429FC82A6DFA2563D66B7D66A6CEF3F2_terseLabel_en-US" xlink:label="lab_us-gaap_StatementScenarioAxis_429FC82A6DFA2563D66B7D66A6CEF3F2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Scenario [Axis] </link:label>
<link:label id="lab_us-gaap_StatementScenarioAxis_429FC82A6DFA2563D66B7D66A6CEF3F2_label_en-US" xlink:label="lab_us-gaap_StatementScenarioAxis_429FC82A6DFA2563D66B7D66A6CEF3F2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Scenario [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:label="loc_us-gaap_StatementScenarioAxis_429FC82A6DFA2563D66B7D66A6CEF3F2" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScenarioUnspecifiedDomain_E6182525CA96DDFA835E7D66A6CEF550_terseLabel_en-US" xlink:label="lab_us-gaap_ScenarioUnspecifiedDomain_E6182525CA96DDFA835E7D66A6CEF550" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Scenario, Unspecified [Domain] </link:label>
<link:label id="lab_us-gaap_ScenarioUnspecifiedDomain_E6182525CA96DDFA835E7D66A6CEF550_label_en-US" xlink:label="lab_us-gaap_ScenarioUnspecifiedDomain_E6182525CA96DDFA835E7D66A6CEF550" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Scenario, Unspecified [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScenarioUnspecifiedDomain" xlink:label="loc_us-gaap_ScenarioUnspecifiedDomain_E6182525CA96DDFA835E7D66A6CEF550" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ScenarioForecastMember_474C2C957274FBA536187D66A6CEC7EF_terseLabel_en-US" xlink:label="lab_us-gaap_ScenarioForecastMember_474C2C957274FBA536187D66A6CEC7EF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Scenario, Forecast </link:label>
<link:label id="lab_us-gaap_ScenarioForecastMember_474C2C957274FBA536187D66A6CEC7EF_label_en-US" xlink:label="lab_us-gaap_ScenarioForecastMember_474C2C957274FBA536187D66A6CEC7EF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Scenario, Forecast [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ScenarioForecastMember" xlink:label="loc_us-gaap_ScenarioForecastMember_474C2C957274FBA536187D66A6CEC7EF" xlink:type="locator"/>
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<link:label id="lab_acc_CoreTransactionMember_3B68D1F90912A23958707D66A6CE4CC3_terseLabel_en-US" xlink:label="lab_acc_CoreTransactionMember_3B68D1F90912A23958707D66A6CE4CC3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Core Transaction </link:label>
<link:label id="lab_acc_CoreTransactionMember_3B68D1F90912A23958707D66A6CE4CC3_label_en-US" xlink:label="lab_acc_CoreTransactionMember_3B68D1F90912A23958707D66A6CE4CC3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Core Transaction [Member] </link:label>
<link:label id="lab_acc_CoreTransactionMember_3B68D1F90912A23958707D66A6CE4CC3_documentation_en-US" xlink:label="lab_acc_CoreTransactionMember_3B68D1F90912A23958707D66A6CE4CC3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Core Transaction [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_CoreTransactionMember" xlink:label="loc_acc_CoreTransactionMember_3B68D1F90912A23958707D66A6CE4CC3" xlink:type="locator"/>
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<link:label id="lab_acc_CoreTransactionSubjectToPurchaseOptionMember_94F975CBDEFC5E749EF17D66A6CEFB98_terseLabel_en-US" xlink:label="lab_acc_CoreTransactionSubjectToPurchaseOptionMember_94F975CBDEFC5E749EF17D66A6CEFB98" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Core Transaction Subject To Purchase Option </link:label>
<link:label id="lab_acc_CoreTransactionSubjectToPurchaseOptionMember_94F975CBDEFC5E749EF17D66A6CEFB98_label_en-US" xlink:label="lab_acc_CoreTransactionSubjectToPurchaseOptionMember_94F975CBDEFC5E749EF17D66A6CEFB98" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Core Transaction Subject To Purchase Option [Member] </link:label>
<link:label id="lab_acc_CoreTransactionSubjectToPurchaseOptionMember_94F975CBDEFC5E749EF17D66A6CEFB98_documentation_en-US" xlink:label="lab_acc_CoreTransactionSubjectToPurchaseOptionMember_94F975CBDEFC5E749EF17D66A6CEFB98" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Core Transaction Subject To Purchase Option [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_CoreTransactionSubjectToPurchaseOptionMember" xlink:label="loc_acc_CoreTransactionSubjectToPurchaseOptionMember_94F975CBDEFC5E749EF17D66A6CEFB98" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_CoreTransactionSubjectToPurchaseOptionMember_94F975CBDEFC5E749EF17D66A6CEFB98" xlink:to="lab_acc_CoreTransactionSubjectToPurchaseOptionMember_94F975CBDEFC5E749EF17D66A6CEFB98" xlink:type="arc"/>
<link:label id="lab_acc_Other2017PropertyAcquisitionsMember_39DA551B18F05CA8C41C7D66A6CEE771_terseLabel_en-US" xlink:label="lab_acc_Other2017PropertyAcquisitionsMember_39DA551B18F05CA8C41C7D66A6CEE771" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other 2017 Property Acquisitions </link:label>
<link:label id="lab_acc_Other2017PropertyAcquisitionsMember_39DA551B18F05CA8C41C7D66A6CEE771_label_en-US" xlink:label="lab_acc_Other2017PropertyAcquisitionsMember_39DA551B18F05CA8C41C7D66A6CEE771" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other 2017 Property Acquisitions [Member] </link:label>
<link:label id="lab_acc_Other2017PropertyAcquisitionsMember_39DA551B18F05CA8C41C7D66A6CEE771_documentation_en-US" xlink:label="lab_acc_Other2017PropertyAcquisitionsMember_39DA551B18F05CA8C41C7D66A6CEE771" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Other 2017 Property Acquisitions [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_Other2017PropertyAcquisitionsMember" xlink:label="loc_acc_Other2017PropertyAcquisitionsMember_39DA551B18F05CA8C41C7D66A6CEE771" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_Other2017PropertyAcquisitionsMember_39DA551B18F05CA8C41C7D66A6CEE771" xlink:to="lab_acc_Other2017PropertyAcquisitionsMember_39DA551B18F05CA8C41C7D66A6CEE771" xlink:type="arc"/>
<link:label id="lab_acc_TheJamesMember_C056879B8F1C459A7AC27D66A6CE8EA6_terseLabel_en-US" xlink:label="lab_acc_TheJamesMember_C056879B8F1C459A7AC27D66A6CE8EA6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> The James </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TheJamesMember" xlink:label="loc_acc_TheJamesMember_C056879B8F1C459A7AC27D66A6CE8EA6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TheJamesMember_C056879B8F1C459A7AC27D66A6CE8EA6" xlink:to="lab_acc_TheJamesMember_C056879B8F1C459A7AC27D66A6CE8EA6" xlink:type="arc"/>
<link:label id="lab_acc_HubAtUDistrictSeattleMember_03D97DC5340596169E317D66A6CEFAD1_terseLabel_en-US" xlink:label="lab_acc_HubAtUDistrictSeattleMember_03D97DC5340596169E317D66A6CEFAD1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Hub At U District, Seattle </link:label>
<link:label id="lab_acc_HubAtUDistrictSeattleMember_03D97DC5340596169E317D66A6CEFAD1_label_en-US" xlink:label="lab_acc_HubAtUDistrictSeattleMember_03D97DC5340596169E317D66A6CEFAD1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Hub At U District, Seattle [Member] </link:label>
<link:label id="lab_acc_HubAtUDistrictSeattleMember_03D97DC5340596169E317D66A6CEFAD1_documentation_en-US" xlink:label="lab_acc_HubAtUDistrictSeattleMember_03D97DC5340596169E317D66A6CEFAD1" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Hub At U District, Seattle [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_HubAtUDistrictSeattleMember" xlink:label="loc_acc_HubAtUDistrictSeattleMember_03D97DC5340596169E317D66A6CEFAD1" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_HubAtUDistrictSeattleMember_03D97DC5340596169E317D66A6CEFAD1" xlink:to="lab_acc_HubAtUDistrictSeattleMember_03D97DC5340596169E317D66A6CEFAD1" xlink:type="arc"/>
<link:label id="lab_acc_UniversityCrossingsMember_2B7AB4DC594E82E7B0477D66A6CE8F25_terseLabel_en-US" xlink:label="lab_acc_UniversityCrossingsMember_2B7AB4DC594E82E7B0477D66A6CE8F25" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> University Crossings </link:label>
<link:label id="lab_acc_UniversityCrossingsMember_2B7AB4DC594E82E7B0477D66A6CE8F25_label_en-US" xlink:label="lab_acc_UniversityCrossingsMember_2B7AB4DC594E82E7B0477D66A6CE8F25" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> University Crossings [Member] </link:label>
<link:label id="lab_acc_UniversityCrossingsMember_2B7AB4DC594E82E7B0477D66A6CE8F25_documentation_en-US" xlink:label="lab_acc_UniversityCrossingsMember_2B7AB4DC594E82E7B0477D66A6CE8F25" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> University Crossings [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_UniversityCrossingsMember" xlink:label="loc_acc_UniversityCrossingsMember_2B7AB4DC594E82E7B0477D66A6CE8F25" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_UniversityCrossingsMember_2B7AB4DC594E82E7B0477D66A6CE8F25" xlink:to="lab_acc_UniversityCrossingsMember_2B7AB4DC594E82E7B0477D66A6CE8F25" xlink:type="arc"/>
<link:label id="lab_us-gaap_BusinessAcquisitionLineItems_BAA593FFB889BAD46C7B7D66A6CE4C34_terseLabel_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems_BAA593FFB889BAD46C7B7D66A6CE4C34" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Business Acquisition [Line Items] </link:label>
<link:label id="lab_us-gaap_BusinessAcquisitionLineItems_BAA593FFB889BAD46C7B7D66A6CE4C34_label_en-US" xlink:label="lab_us-gaap_BusinessAcquisitionLineItems_BAA593FFB889BAD46C7B7D66A6CE4C34" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Acquisition [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_BusinessAcquisitionLineItems" xlink:label="loc_us-gaap_BusinessAcquisitionLineItems_BAA593FFB889BAD46C7B7D66A6CE4C34" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_BusinessAcquisitionLineItems_BAA593FFB889BAD46C7B7D66A6CE4C34" xlink:to="lab_us-gaap_BusinessAcquisitionLineItems_BAA593FFB889BAD46C7B7D66A6CE4C34" xlink:type="arc"/>
<link:label id="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_823B7618EAF949C81F577D66A6CE42D2_verboseLabel_en-US" xlink:label="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_823B7618EAF949C81F577D66A6CE42D2" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Ownership percentage </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest" xlink:label="loc_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_823B7618EAF949C81F577D66A6CE42D2" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_823B7618EAF949C81F577D66A6CE42D2" xlink:to="lab_us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest_823B7618EAF949C81F577D66A6CE42D2" xlink:type="arc"/>
<link:label id="lab_us-gaap_NumberOfRealEstateProperties_A8B93F98D8DE2E071BDD7D66A6CED6A4_verboseLabel_en-US" xlink:label="lab_us-gaap_NumberOfRealEstateProperties_A8B93F98D8DE2E071BDD7D66A6CED6A4" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Number of properties owned </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_NumberOfRealEstateProperties" xlink:label="loc_us-gaap_NumberOfRealEstateProperties_A8B93F98D8DE2E071BDD7D66A6CED6A4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_NumberOfRealEstateProperties_A8B93F98D8DE2E071BDD7D66A6CED6A4" xlink:to="lab_us-gaap_NumberOfRealEstateProperties_A8B93F98D8DE2E071BDD7D66A6CED6A4" xlink:type="arc"/>
<link:label id="lab_acc_NumberofRealEstatePropertiesThroughJointVenture_36A1E3FE4AF717517D5F7D66A6CEAEDA_terseLabel_en-US" xlink:label="lab_acc_NumberofRealEstatePropertiesThroughJointVenture_36A1E3FE4AF717517D5F7D66A6CEAEDA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Properties owned through joint venture </link:label>
<link:label id="lab_acc_NumberofRealEstatePropertiesThroughJointVenture_36A1E3FE4AF717517D5F7D66A6CEAEDA_label_en-US" xlink:label="lab_acc_NumberofRealEstatePropertiesThroughJointVenture_36A1E3FE4AF717517D5F7D66A6CEAEDA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of Real Estate Properties Through Joint Venture </link:label>
<link:label id="lab_acc_NumberofRealEstatePropertiesThroughJointVenture_36A1E3FE4AF717517D5F7D66A6CEAEDA_documentation_en-US" xlink:label="lab_acc_NumberofRealEstatePropertiesThroughJointVenture_36A1E3FE4AF717517D5F7D66A6CEAEDA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of Real Estate Properties Through Joint Venture </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberofRealEstatePropertiesThroughJointVenture" xlink:label="loc_acc_NumberofRealEstatePropertiesThroughJointVenture_36A1E3FE4AF717517D5F7D66A6CEAEDA" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberofRealEstatePropertiesThroughJointVenture_36A1E3FE4AF717517D5F7D66A6CEAEDA" xlink:to="lab_acc_NumberofRealEstatePropertiesThroughJointVenture_36A1E3FE4AF717517D5F7D66A6CEAEDA" xlink:type="arc"/>
<link:label id="lab_acc_BusinessCombinationAmountExpectedToBeInvested_8ACC7F1B02B116F4EC6C7D66A6CEF0F3_terseLabel_en-US" xlink:label="lab_acc_BusinessCombinationAmountExpectedToBeInvested_8ACC7F1B02B116F4EC6C7D66A6CEF0F3" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Amount expected to be invested </link:label>
<link:label id="lab_acc_BusinessCombinationAmountExpectedToBeInvested_8ACC7F1B02B116F4EC6C7D66A6CEF0F3_label_en-US" xlink:label="lab_acc_BusinessCombinationAmountExpectedToBeInvested_8ACC7F1B02B116F4EC6C7D66A6CEF0F3" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Combination, Amount Expected To Be Invested </link:label>
<link:label id="lab_acc_BusinessCombinationAmountExpectedToBeInvested_8ACC7F1B02B116F4EC6C7D66A6CEF0F3_documentation_en-US" xlink:label="lab_acc_BusinessCombinationAmountExpectedToBeInvested_8ACC7F1B02B116F4EC6C7D66A6CEF0F3" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Business Combination, Amount Expected To Be Invested </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_BusinessCombinationAmountExpectedToBeInvested" xlink:label="loc_acc_BusinessCombinationAmountExpectedToBeInvested_8ACC7F1B02B116F4EC6C7D66A6CEF0F3" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_BusinessCombinationAmountExpectedToBeInvested_8ACC7F1B02B116F4EC6C7D66A6CEF0F3" xlink:to="lab_acc_BusinessCombinationAmountExpectedToBeInvested_8ACC7F1B02B116F4EC6C7D66A6CEF0F3" xlink:type="arc"/>
<link:label id="lab_acc_BusinessCombinationPeriodofExpectedInvestment_98A2E65EF08B2ABB47317D66A6CEB5B4_terseLabel_en-US" xlink:label="lab_acc_BusinessCombinationPeriodofExpectedInvestment_98A2E65EF08B2ABB47317D66A6CEB5B4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Period of expected investment </link:label>
<link:label id="lab_acc_BusinessCombinationPeriodofExpectedInvestment_98A2E65EF08B2ABB47317D66A6CEB5B4_label_en-US" xlink:label="lab_acc_BusinessCombinationPeriodofExpectedInvestment_98A2E65EF08B2ABB47317D66A6CEB5B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Combination, Period of Expected Investment </link:label>
<link:label id="lab_acc_BusinessCombinationPeriodofExpectedInvestment_98A2E65EF08B2ABB47317D66A6CEB5B4_documentation_en-US" xlink:label="lab_acc_BusinessCombinationPeriodofExpectedInvestment_98A2E65EF08B2ABB47317D66A6CEB5B4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Business Combination, Period of Expected Investment </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_BusinessCombinationPeriodofExpectedInvestment" xlink:label="loc_acc_BusinessCombinationPeriodofExpectedInvestment_98A2E65EF08B2ABB47317D66A6CEB5B4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_BusinessCombinationPeriodofExpectedInvestment_98A2E65EF08B2ABB47317D66A6CEB5B4" xlink:to="lab_acc_BusinessCombinationPeriodofExpectedInvestment_98A2E65EF08B2ABB47317D66A6CEB5B4" xlink:type="arc"/>
<link:label id="lab_acc_BusinessCombinationOptionToPurchaseRemainingInterestInJointVenture_F3784EED0FC5B89687787D66A6CE2BCA_terseLabel_en-US" xlink:label="lab_acc_BusinessCombinationOptionToPurchaseRemainingInterestInJointVenture_F3784EED0FC5B89687787D66A6CE2BCA" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Option to purchase remaining interest in joint venture </link:label>
<link:label id="lab_acc_BusinessCombinationOptionToPurchaseRemainingInterestInJointVenture_F3784EED0FC5B89687787D66A6CE2BCA_label_en-US" xlink:label="lab_acc_BusinessCombinationOptionToPurchaseRemainingInterestInJointVenture_F3784EED0FC5B89687787D66A6CE2BCA" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Combination, Option To Purchase Remaining Interest In Joint Venture </link:label>
<link:label id="lab_acc_BusinessCombinationOptionToPurchaseRemainingInterestInJointVenture_F3784EED0FC5B89687787D66A6CE2BCA_documentation_en-US" xlink:label="lab_acc_BusinessCombinationOptionToPurchaseRemainingInterestInJointVenture_F3784EED0FC5B89687787D66A6CE2BCA" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Business Combination, Option To Purchase Remaining Interest In Joint Venture </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_BusinessCombinationOptionToPurchaseRemainingInterestInJointVenture" xlink:label="loc_acc_BusinessCombinationOptionToPurchaseRemainingInterestInJointVenture_F3784EED0FC5B89687787D66A6CE2BCA" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_BusinessCombinationOptionToPurchaseRemainingInterestInJointVenture_F3784EED0FC5B89687787D66A6CE2BCA" xlink:to="lab_acc_BusinessCombinationOptionToPurchaseRemainingInterestInJointVenture_F3784EED0FC5B89687787D66A6CE2BCA" xlink:type="arc"/>
<link:label id="lab_acc_NumberofLandParcelsAcquired_FB4DD1D7965E761C168E7D66A6CE95B4_terseLabel_en-US" xlink:label="lab_acc_NumberofLandParcelsAcquired_FB4DD1D7965E761C168E7D66A6CE95B4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of land parcels </link:label>
<link:label id="lab_acc_NumberofLandParcelsAcquired_FB4DD1D7965E761C168E7D66A6CE95B4_label_en-US" xlink:label="lab_acc_NumberofLandParcelsAcquired_FB4DD1D7965E761C168E7D66A6CE95B4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of Land Parcels Acquired </link:label>
<link:label id="lab_acc_NumberofLandParcelsAcquired_FB4DD1D7965E761C168E7D66A6CE95B4_documentation_en-US" xlink:label="lab_acc_NumberofLandParcelsAcquired_FB4DD1D7965E761C168E7D66A6CE95B4" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of Land Parcels Acquired </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberofLandParcelsAcquired" xlink:label="loc_acc_NumberofLandParcelsAcquired_FB4DD1D7965E761C168E7D66A6CE95B4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberofLandParcelsAcquired_FB4DD1D7965E761C168E7D66A6CE95B4" xlink:to="lab_acc_NumberofLandParcelsAcquired_FB4DD1D7965E761C168E7D66A6CE95B4" xlink:type="arc"/>
<link:label id="lab_acc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageDebt_F05958128B7789189E1F7D66A6CE5DA9_terseLabel_en-US" xlink:label="lab_acc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageDebt_F05958128B7789189E1F7D66A6CE5DA9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Mortgage debt assumed </link:label>
<link:label id="lab_acc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageDebt_F05958128B7789189E1F7D66A6CE5DA9_label_en-US" xlink:label="lab_acc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageDebt_F05958128B7789189E1F7D66A6CE5DA9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Mortgage Debt </link:label>
<link:label id="lab_acc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageDebt_F05958128B7789189E1F7D66A6CE5DA9_documentation_en-US" xlink:label="lab_acc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageDebt_F05958128B7789189E1F7D66A6CE5DA9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Mortgage Debt </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageDebt" xlink:label="loc_acc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageDebt_F05958128B7789189E1F7D66A6CE5DA9" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageDebt_F05958128B7789189E1F7D66A6CE5DA9" xlink:to="lab_acc_BusinessCombinationRecognizedIdentifiableAssetsAcquiredandLiabilitiesAssumedMortgageDebt_F05958128B7789189E1F7D66A6CE5DA9" xlink:type="arc"/>
<link:label id="lab_us-gaap_LossContingenciesTable_71AE81681C650D56EFA67D6AC72D49B1_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesTable_71AE81681C650D56EFA67D6AC72D49B1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss Contingencies [Table] </link:label>
<link:label id="lab_us-gaap_LossContingenciesTable_71AE81681C650D56EFA67D6AC72D49B1_label_en-US" xlink:label="lab_us-gaap_LossContingenciesTable_71AE81681C650D56EFA67D6AC72D49B1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingencies [Table] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LossContingenciesTable" xlink:label="loc_us-gaap_LossContingenciesTable_71AE81681C650D56EFA67D6AC72D49B1" xlink:type="locator"/>
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<link:label id="lab_us-gaap_ConsolidatedPropertiesMember_1EC3E5BC45033F12872E7D6AC72DA429_terseLabel_en-US" xlink:label="lab_us-gaap_ConsolidatedPropertiesMember_1EC3E5BC45033F12872E7D6AC72DA429" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Consolidated Properties </link:label>
<link:label id="lab_us-gaap_ConsolidatedPropertiesMember_1EC3E5BC45033F12872E7D6AC72DA429_label_en-US" xlink:label="lab_us-gaap_ConsolidatedPropertiesMember_1EC3E5BC45033F12872E7D6AC72DA429" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Consolidated Properties [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConsolidatedPropertiesMember" xlink:label="loc_us-gaap_ConsolidatedPropertiesMember_1EC3E5BC45033F12872E7D6AC72DA429" xlink:type="locator"/>
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<link:label id="lab_us-gaap_OtherCommitmentsAxis_632E0D8669CE287715427D6AC72D2384_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentsAxis_632E0D8669CE287715427D6AC72D2384" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Commitments [Axis] </link:label>
<link:label id="lab_us-gaap_OtherCommitmentsAxis_632E0D8669CE287715427D6AC72D2384_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentsAxis_632E0D8669CE287715427D6AC72D2384" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Commitments [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherCommitmentsAxis" xlink:label="loc_us-gaap_OtherCommitmentsAxis_632E0D8669CE287715427D6AC72D2384" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentsAxis_632E0D8669CE287715427D6AC72D2384" xlink:to="lab_us-gaap_OtherCommitmentsAxis_632E0D8669CE287715427D6AC72D2384" xlink:type="arc"/>
<link:label id="lab_us-gaap_OtherCommitmentsDomain_8DDFE96719B1363F7ECB7D6AC72D321D_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitmentsDomain_8DDFE96719B1363F7ECB7D6AC72D321D" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other Commitments [Domain] </link:label>
<link:label id="lab_us-gaap_OtherCommitmentsDomain_8DDFE96719B1363F7ECB7D6AC72D321D_label_en-US" xlink:label="lab_us-gaap_OtherCommitmentsDomain_8DDFE96719B1363F7ECB7D6AC72D321D" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Commitments [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherCommitmentsDomain" xlink:label="loc_us-gaap_OtherCommitmentsDomain_8DDFE96719B1363F7ECB7D6AC72D321D" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitmentsDomain_8DDFE96719B1363F7ECB7D6AC72D321D" xlink:to="lab_us-gaap_OtherCommitmentsDomain_8DDFE96719B1363F7ECB7D6AC72D321D" xlink:type="arc"/>
<link:label id="lab_us-gaap_ConstructionContractsMember_EBDBD44D940EB991AE817D6AC72D8857_terseLabel_en-US" xlink:label="lab_us-gaap_ConstructionContractsMember_EBDBD44D940EB991AE817D6AC72D8857" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Construction contracts </link:label>
<link:label id="lab_us-gaap_ConstructionContractsMember_EBDBD44D940EB991AE817D6AC72D8857_label_en-US" xlink:label="lab_us-gaap_ConstructionContractsMember_EBDBD44D940EB991AE817D6AC72D8857" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Construction Contracts [Member] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ConstructionContractsMember" xlink:label="loc_us-gaap_ConstructionContractsMember_EBDBD44D940EB991AE817D6AC72D8857" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_ConstructionContractsMember_EBDBD44D940EB991AE817D6AC72D8857" xlink:to="lab_us-gaap_ConstructionContractsMember_EBDBD44D940EB991AE817D6AC72D8857" xlink:type="arc"/>
<link:label id="lab_acc_TheEdgeStadiumCentreMember_6054C19F4A3D5CACAC1D7D6AC72D80D2_terseLabel_en-US" xlink:label="lab_acc_TheEdgeStadiumCentreMember_6054C19F4A3D5CACAC1D7D6AC72D80D2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> The Edge at Stadium Center </link:label>
<link:label id="lab_acc_TheEdgeStadiumCentreMember_6054C19F4A3D5CACAC1D7D6AC72D80D2_label_en-US" xlink:label="lab_acc_TheEdgeStadiumCentreMember_6054C19F4A3D5CACAC1D7D6AC72D80D2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> The Edge - Stadium Centre [Member] </link:label>
<link:label id="lab_acc_TheEdgeStadiumCentreMember_6054C19F4A3D5CACAC1D7D6AC72D80D2_documentation_en-US" xlink:label="lab_acc_TheEdgeStadiumCentreMember_6054C19F4A3D5CACAC1D7D6AC72D80D2" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The Edge - Stadium Centre [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TheEdgeStadiumCentreMember" xlink:label="loc_acc_TheEdgeStadiumCentreMember_6054C19F4A3D5CACAC1D7D6AC72D80D2" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TheEdgeStadiumCentreMember_6054C19F4A3D5CACAC1D7D6AC72D80D2" xlink:to="lab_acc_TheEdgeStadiumCentreMember_6054C19F4A3D5CACAC1D7D6AC72D80D2" xlink:type="arc"/>
<link:label id="lab_acc_DrexelUniversityPropertyMember_9504AFF581C642C9DC977D6AC72D55B9_terseLabel_en-US" xlink:label="lab_acc_DrexelUniversityPropertyMember_9504AFF581C642C9DC977D6AC72D55B9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Drexel University Property </link:label>
<link:label id="lab_acc_DrexelUniversityPropertyMember_9504AFF581C642C9DC977D6AC72D55B9_label_en-US" xlink:label="lab_acc_DrexelUniversityPropertyMember_9504AFF581C642C9DC977D6AC72D55B9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Drexel University Property [Member] </link:label>
<link:label id="lab_acc_DrexelUniversityPropertyMember_9504AFF581C642C9DC977D6AC72D55B9_documentation_en-US" xlink:label="lab_acc_DrexelUniversityPropertyMember_9504AFF581C642C9DC977D6AC72D55B9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Drexel University Property [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_DrexelUniversityPropertyMember" xlink:label="loc_acc_DrexelUniversityPropertyMember_9504AFF581C642C9DC977D6AC72D55B9" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_DrexelUniversityPropertyMember_9504AFF581C642C9DC977D6AC72D55B9" xlink:to="lab_acc_DrexelUniversityPropertyMember_9504AFF581C642C9DC977D6AC72D55B9" xlink:type="arc"/>
<link:label id="lab_us-gaap_GuaranteeObligationsByNatureAxis_A64C7583C8D2F42751FC7D6AC72D1D6E_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsByNatureAxis_A64C7583C8D2F42751FC7D6AC72D1D6E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Guarantee Obligations By Nature [Axis] </link:label>
<link:label id="lab_us-gaap_GuaranteeObligationsByNatureAxis_A64C7583C8D2F42751FC7D6AC72D1D6E_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsByNatureAxis_A64C7583C8D2F42751FC7D6AC72D1D6E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Guarantor Obligations, Nature [Axis] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GuaranteeObligationsByNatureAxis" xlink:label="loc_us-gaap_GuaranteeObligationsByNatureAxis_A64C7583C8D2F42751FC7D6AC72D1D6E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_GuaranteeObligationsByNatureAxis_A64C7583C8D2F42751FC7D6AC72D1D6E" xlink:to="lab_us-gaap_GuaranteeObligationsByNatureAxis_A64C7583C8D2F42751FC7D6AC72D1D6E" xlink:type="arc"/>
<link:label id="lab_us-gaap_GuaranteeObligationsNatureDomain_910C0E2B3FA236F9A3A97D6AC72D5782_terseLabel_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsNatureDomain_910C0E2B3FA236F9A3A97D6AC72D5782" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Guarantee Obligations Nature [Domain] </link:label>
<link:label id="lab_us-gaap_GuaranteeObligationsNatureDomain_910C0E2B3FA236F9A3A97D6AC72D5782_label_en-US" xlink:label="lab_us-gaap_GuaranteeObligationsNatureDomain_910C0E2B3FA236F9A3A97D6AC72D5782" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Guarantor Obligations, Nature [Domain] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_GuaranteeObligationsNatureDomain" xlink:label="loc_us-gaap_GuaranteeObligationsNatureDomain_910C0E2B3FA236F9A3A97D6AC72D5782" xlink:type="locator"/>
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<link:label id="lab_acc_AlternateHousingGuaranteesMember_8E8256AD983B755D77AE7D6AC72D4F03_terseLabel_en-US" xlink:label="lab_acc_AlternateHousingGuaranteesMember_8E8256AD983B755D77AE7D6AC72D4F03" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Alternate Housing Guarantees </link:label>
<link:label id="lab_acc_AlternateHousingGuaranteesMember_8E8256AD983B755D77AE7D6AC72D4F03_label_en-US" xlink:label="lab_acc_AlternateHousingGuaranteesMember_8E8256AD983B755D77AE7D6AC72D4F03" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Alternate Housing Guarantees [Member] </link:label>
<link:label id="lab_acc_AlternateHousingGuaranteesMember_8E8256AD983B755D77AE7D6AC72D4F03_documentation_en-US" xlink:label="lab_acc_AlternateHousingGuaranteesMember_8E8256AD983B755D77AE7D6AC72D4F03" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Alternate Housing Guarantees [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_AlternateHousingGuaranteesMember" xlink:label="loc_acc_AlternateHousingGuaranteesMember_8E8256AD983B755D77AE7D6AC72D4F03" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_AlternateHousingGuaranteesMember_8E8256AD983B755D77AE7D6AC72D4F03" xlink:to="lab_acc_AlternateHousingGuaranteesMember_8E8256AD983B755D77AE7D6AC72D4F03" xlink:type="arc"/>
<link:label id="lab_acc_ProjectCostGuaranteesMember_0422824BE0E3974047127D6AC72DFAFF_terseLabel_en-US" xlink:label="lab_acc_ProjectCostGuaranteesMember_0422824BE0E3974047127D6AC72DFAFF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Project Cost Guarantees </link:label>
<link:label id="lab_acc_ProjectCostGuaranteesMember_0422824BE0E3974047127D6AC72DFAFF_label_en-US" xlink:label="lab_acc_ProjectCostGuaranteesMember_0422824BE0E3974047127D6AC72DFAFF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Project Cost Guarantees [Member] </link:label>
<link:label id="lab_acc_ProjectCostGuaranteesMember_0422824BE0E3974047127D6AC72DFAFF_documentation_en-US" xlink:label="lab_acc_ProjectCostGuaranteesMember_0422824BE0E3974047127D6AC72DFAFF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Project Cost Guarantees [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_ProjectCostGuaranteesMember" xlink:label="loc_acc_ProjectCostGuaranteesMember_0422824BE0E3974047127D6AC72DFAFF" xlink:type="locator"/>
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<link:label id="lab_acc_ThirdPartyDevelopmentProjectsMember_2502B47B8F97C10AF5F77D6AC72D826C_terseLabel_en-US" xlink:label="lab_acc_ThirdPartyDevelopmentProjectsMember_2502B47B8F97C10AF5F77D6AC72D826C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Third-Party Development Projects </link:label>
<link:label id="lab_acc_ThirdPartyDevelopmentProjectsMember_2502B47B8F97C10AF5F77D6AC72D826C_label_en-US" xlink:label="lab_acc_ThirdPartyDevelopmentProjectsMember_2502B47B8F97C10AF5F77D6AC72D826C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Third-Party Development Projects [Member] </link:label>
<link:label id="lab_acc_ThirdPartyDevelopmentProjectsMember_2502B47B8F97C10AF5F77D6AC72D826C_documentation_en-US" xlink:label="lab_acc_ThirdPartyDevelopmentProjectsMember_2502B47B8F97C10AF5F77D6AC72D826C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Third-Party Development Projects [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_ThirdPartyDevelopmentProjectsMember" xlink:label="loc_acc_ThirdPartyDevelopmentProjectsMember_2502B47B8F97C10AF5F77D6AC72D826C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_ThirdPartyDevelopmentProjectsMember_2502B47B8F97C10AF5F77D6AC72D826C" xlink:to="lab_acc_ThirdPartyDevelopmentProjectsMember_2502B47B8F97C10AF5F77D6AC72D826C" xlink:type="arc"/>
<link:label id="lab_us-gaap_LossContingenciesLineItems_C40F72AC97C41B3126AF7D6AC72D2AA2_terseLabel_en-US" xlink:label="lab_us-gaap_LossContingenciesLineItems_C40F72AC97C41B3126AF7D6AC72D2AA2" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Loss Contingencies [Line Items] </link:label>
<link:label id="lab_us-gaap_LossContingenciesLineItems_C40F72AC97C41B3126AF7D6AC72D2AA2_label_en-US" xlink:label="lab_us-gaap_LossContingenciesLineItems_C40F72AC97C41B3126AF7D6AC72D2AA2" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Loss Contingencies [Line Items] </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_LossContingenciesLineItems" xlink:label="loc_us-gaap_LossContingenciesLineItems_C40F72AC97C41B3126AF7D6AC72D2AA2" xlink:type="locator"/>
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<link:label id="lab_acc_NumberofPropertiesUnderDevelopment_364C0140A1316D5DBCDE7D6AC72D3E95_terseLabel_en-US" xlink:label="lab_acc_NumberofPropertiesUnderDevelopment_364C0140A1316D5DBCDE7D6AC72D3E95" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of properties, under development </link:label>
<link:label id="lab_acc_NumberofPropertiesUnderDevelopment_364C0140A1316D5DBCDE7D6AC72D3E95_label_en-US" xlink:label="lab_acc_NumberofPropertiesUnderDevelopment_364C0140A1316D5DBCDE7D6AC72D3E95" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number of Properties, Under Development </link:label>
<link:label id="lab_acc_NumberofPropertiesUnderDevelopment_364C0140A1316D5DBCDE7D6AC72D3E95_documentation_en-US" xlink:label="lab_acc_NumberofPropertiesUnderDevelopment_364C0140A1316D5DBCDE7D6AC72D3E95" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Number of Properties, Under Development </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberofPropertiesUnderDevelopment" xlink:label="loc_acc_NumberofPropertiesUnderDevelopment_364C0140A1316D5DBCDE7D6AC72D3E95" xlink:type="locator"/>
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<link:label id="lab_us-gaap_OtherCommitment_73CF70162863308B8C607D6AC72DE9F4_terseLabel_en-US" xlink:label="lab_us-gaap_OtherCommitment_73CF70162863308B8C607D6AC72DE9F4" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Other commitment </link:label>
<link:label id="lab_us-gaap_OtherCommitment_73CF70162863308B8C607D6AC72DE9F4_label_en-US" xlink:label="lab_us-gaap_OtherCommitment_73CF70162863308B8C607D6AC72DE9F4" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Other Commitment </link:label>
<link:loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherCommitment" xlink:label="loc_us-gaap_OtherCommitment_73CF70162863308B8C607D6AC72DE9F4" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_us-gaap_OtherCommitment_73CF70162863308B8C607D6AC72DE9F4" xlink:to="lab_us-gaap_OtherCommitment_73CF70162863308B8C607D6AC72DE9F4" xlink:type="arc"/>
<link:label id="lab_acc_BusinessCombinationPeriodOfOptionToPurchaseRemainingInterestInJointVenture_F4ED99E2971C0F56A87A7D6AC72DDD93_terseLabel_en-US" xlink:label="lab_acc_BusinessCombinationPeriodOfOptionToPurchaseRemainingInterestInJointVenture_F4ED99E2971C0F56A87A7D6AC72DDD93" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Period of option to purchase remaining interest in joint venture </link:label>
<link:label id="lab_acc_BusinessCombinationPeriodOfOptionToPurchaseRemainingInterestInJointVenture_F4ED99E2971C0F56A87A7D6AC72DDD93_label_en-US" xlink:label="lab_acc_BusinessCombinationPeriodOfOptionToPurchaseRemainingInterestInJointVenture_F4ED99E2971C0F56A87A7D6AC72DDD93" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Business Combination, Period Of Option To Purchase Remaining Interest In Joint Venture </link:label>
<link:label id="lab_acc_BusinessCombinationPeriodOfOptionToPurchaseRemainingInterestInJointVenture_F4ED99E2971C0F56A87A7D6AC72DDD93_documentation_en-US" xlink:label="lab_acc_BusinessCombinationPeriodOfOptionToPurchaseRemainingInterestInJointVenture_F4ED99E2971C0F56A87A7D6AC72DDD93" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Business Combination, Period Of Option To Purchase Remaining Interest In Joint Venture </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_BusinessCombinationPeriodOfOptionToPurchaseRemainingInterestInJointVenture" xlink:label="loc_acc_BusinessCombinationPeriodOfOptionToPurchaseRemainingInterestInJointVenture_F4ED99E2971C0F56A87A7D6AC72DDD93" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_BusinessCombinationPeriodOfOptionToPurchaseRemainingInterestInJointVenture_F4ED99E2971C0F56A87A7D6AC72DDD93" xlink:to="lab_acc_BusinessCombinationPeriodOfOptionToPurchaseRemainingInterestInJointVenture_F4ED99E2971C0F56A87A7D6AC72DDD93" xlink:type="arc"/>
<link:label id="lab_acc_PreSaleArrangementPurchasePrice_77D10D2BF61D8BEDF02C7D6AC72D351C_terseLabel_en-US" xlink:label="lab_acc_PreSaleArrangementPurchasePrice_77D10D2BF61D8BEDF02C7D6AC72D351C" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Estimated development costs </link:label>
<link:label id="lab_acc_PreSaleArrangementPurchasePrice_77D10D2BF61D8BEDF02C7D6AC72D351C_label_en-US" xlink:label="lab_acc_PreSaleArrangementPurchasePrice_77D10D2BF61D8BEDF02C7D6AC72D351C" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Pre-Sale Arrangement Purchase Price </link:label>
<link:label id="lab_acc_PreSaleArrangementPurchasePrice_77D10D2BF61D8BEDF02C7D6AC72D351C_documentation_en-US" xlink:label="lab_acc_PreSaleArrangementPurchasePrice_77D10D2BF61D8BEDF02C7D6AC72D351C" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Pre-Sale Arrangement Purchase Price </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_PreSaleArrangementPurchasePrice" xlink:label="loc_acc_PreSaleArrangementPurchasePrice_77D10D2BF61D8BEDF02C7D6AC72D351C" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_PreSaleArrangementPurchasePrice_77D10D2BF61D8BEDF02C7D6AC72D351C" xlink:to="lab_acc_PreSaleArrangementPurchasePrice_77D10D2BF61D8BEDF02C7D6AC72D351C" xlink:type="arc"/>
<link:label id="lab_acc_CommitmentsExpirationPeriod_AE70657C6CE2EE6550D27D6AC72D9FCF_terseLabel_en-US" xlink:label="lab_acc_CommitmentsExpirationPeriod_AE70657C6CE2EE6550D27D6AC72D9FCF" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Guarantee expiration period </link:label>
<link:label id="lab_acc_CommitmentsExpirationPeriod_AE70657C6CE2EE6550D27D6AC72D9FCF_label_en-US" xlink:label="lab_acc_CommitmentsExpirationPeriod_AE70657C6CE2EE6550D27D6AC72D9FCF" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Commitments Expiration Period </link:label>
<link:label id="lab_acc_CommitmentsExpirationPeriod_AE70657C6CE2EE6550D27D6AC72D9FCF_documentation_en-US" xlink:label="lab_acc_CommitmentsExpirationPeriod_AE70657C6CE2EE6550D27D6AC72D9FCF" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Period of expiration commitment, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_CommitmentsExpirationPeriod" xlink:label="loc_acc_CommitmentsExpirationPeriod_AE70657C6CE2EE6550D27D6AC72D9FCF" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_CommitmentsExpirationPeriod_AE70657C6CE2EE6550D27D6AC72D9FCF" xlink:to="lab_acc_CommitmentsExpirationPeriod_AE70657C6CE2EE6550D27D6AC72D9FCF" xlink:type="arc"/>
<link:label id="lab_acc_GuaranteeObligationsMaximumExposureOwnerCausedDelays_344F72EBC62C931485387D6AC72DA3F0_terseLabel_en-US" xlink:label="lab_acc_GuaranteeObligationsMaximumExposureOwnerCausedDelays_344F72EBC62C931485387D6AC72DA3F0" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitment under third-party development project </link:label>
<link:label id="lab_acc_GuaranteeObligationsMaximumExposureOwnerCausedDelays_344F72EBC62C931485387D6AC72DA3F0_label_en-US" xlink:label="lab_acc_GuaranteeObligationsMaximumExposureOwnerCausedDelays_344F72EBC62C931485387D6AC72DA3F0" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Guarantee Obligations, Maximum Exposure, Owner Caused Delays </link:label>
<link:label id="lab_acc_GuaranteeObligationsMaximumExposureOwnerCausedDelays_344F72EBC62C931485387D6AC72DA3F0_documentation_en-US" xlink:label="lab_acc_GuaranteeObligationsMaximumExposureOwnerCausedDelays_344F72EBC62C931485387D6AC72DA3F0" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Guarantee Obligations, Maximum Exposure, Owner Caused Delays </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_GuaranteeObligationsMaximumExposureOwnerCausedDelays" xlink:label="loc_acc_GuaranteeObligationsMaximumExposureOwnerCausedDelays_344F72EBC62C931485387D6AC72DA3F0" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_GuaranteeObligationsMaximumExposureOwnerCausedDelays_344F72EBC62C931485387D6AC72DA3F0" xlink:to="lab_acc_GuaranteeObligationsMaximumExposureOwnerCausedDelays_344F72EBC62C931485387D6AC72DA3F0" xlink:type="arc"/>
<link:label id="lab_acc_LeaseTerm_F4DFC232A06465675A167D6AC72D2D26_terseLabel_en-US" xlink:label="lab_acc_LeaseTerm_F4DFC232A06465675A167D6AC72D2D26" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Lease term </link:label>
<link:label id="lab_acc_LeaseTerm_F4DFC232A06465675A167D6AC72D2D26_label_en-US" xlink:label="lab_acc_LeaseTerm_F4DFC232A06465675A167D6AC72D2D26" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Lease Term </link:label>
<link:label id="lab_acc_LeaseTerm_F4DFC232A06465675A167D6AC72D2D26_documentation_en-US" xlink:label="lab_acc_LeaseTerm_F4DFC232A06465675A167D6AC72D2D26" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents the lease term. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_LeaseTerm" xlink:label="loc_acc_LeaseTerm_F4DFC232A06465675A167D6AC72D2D26" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_LeaseTerm_F4DFC232A06465675A167D6AC72D2D26" xlink:to="lab_acc_LeaseTerm_F4DFC232A06465675A167D6AC72D2D26" xlink:type="arc"/>
<link:label id="lab_acc_NumberOfRenewalOptions_F9BB145D7DE2288BB2817D6AC72DCAD9_terseLabel_en-US" xlink:label="lab_acc_NumberOfRenewalOptions_F9BB145D7DE2288BB2817D6AC72DCAD9" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Number of lease renewal options </link:label>
<link:label id="lab_acc_NumberOfRenewalOptions_F9BB145D7DE2288BB2817D6AC72DCAD9_label_en-US" xlink:label="lab_acc_NumberOfRenewalOptions_F9BB145D7DE2288BB2817D6AC72DCAD9" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Number Of Renewal Options </link:label>
<link:label id="lab_acc_NumberOfRenewalOptions_F9BB145D7DE2288BB2817D6AC72DCAD9_documentation_en-US" xlink:label="lab_acc_NumberOfRenewalOptions_F9BB145D7DE2288BB2817D6AC72DCAD9" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents the number of renewal options. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_NumberOfRenewalOptions" xlink:label="loc_acc_NumberOfRenewalOptions_F9BB145D7DE2288BB2817D6AC72DCAD9" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_NumberOfRenewalOptions_F9BB145D7DE2288BB2817D6AC72DCAD9" xlink:to="lab_acc_NumberOfRenewalOptions_F9BB145D7DE2288BB2817D6AC72DCAD9" xlink:type="arc"/>
<link:label id="lab_acc_LeaseExtensionPeriod_7B9B963E504A28A833037D6AC72DA4DC_terseLabel_en-US" xlink:label="lab_acc_LeaseExtensionPeriod_7B9B963E504A28A833037D6AC72DA4DC" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Lease extension period </link:label>
<link:label id="lab_acc_LeaseExtensionPeriod_7B9B963E504A28A833037D6AC72DA4DC_label_en-US" xlink:label="lab_acc_LeaseExtensionPeriod_7B9B963E504A28A833037D6AC72DA4DC" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Lease Extension Period </link:label>
<link:label id="lab_acc_LeaseExtensionPeriod_7B9B963E504A28A833037D6AC72DA4DC_documentation_en-US" xlink:label="lab_acc_LeaseExtensionPeriod_7B9B963E504A28A833037D6AC72DA4DC" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> This element represents the lease extension period. </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_LeaseExtensionPeriod" xlink:label="loc_acc_LeaseExtensionPeriod_7B9B963E504A28A833037D6AC72DA4DC" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_LeaseExtensionPeriod_7B9B963E504A28A833037D6AC72DA4DC" xlink:to="lab_acc_LeaseExtensionPeriod_7B9B963E504A28A833037D6AC72DA4DC" xlink:type="arc"/>
<link:label id="lab_acc_LongtermPurchaseCommitmentRealEstateTransferTaxesAmount_C5352D26480CA934BCEB7D6AC72D0FD6_terseLabel_en-US" xlink:label="lab_acc_LongtermPurchaseCommitmentRealEstateTransferTaxesAmount_C5352D26480CA934BCEB7D6AC72D0FD6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Commitment to pay real estate transfer taxes, amount (not more than) </link:label>
<link:label id="lab_acc_LongtermPurchaseCommitmentRealEstateTransferTaxesAmount_C5352D26480CA934BCEB7D6AC72D0FD6_label_en-US" xlink:label="lab_acc_LongtermPurchaseCommitmentRealEstateTransferTaxesAmount_C5352D26480CA934BCEB7D6AC72D0FD6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Long-term Purchase Commitment, Real Estate Transfer Taxes, Amount </link:label>
<link:label id="lab_acc_LongtermPurchaseCommitmentRealEstateTransferTaxesAmount_C5352D26480CA934BCEB7D6AC72D0FD6_documentation_en-US" xlink:label="lab_acc_LongtermPurchaseCommitmentRealEstateTransferTaxesAmount_C5352D26480CA934BCEB7D6AC72D0FD6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Long-term Purchase Commitment, Real Estate Transfer Taxes, Amount </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_LongtermPurchaseCommitmentRealEstateTransferTaxesAmount" xlink:label="loc_acc_LongtermPurchaseCommitmentRealEstateTransferTaxesAmount_C5352D26480CA934BCEB7D6AC72D0FD6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_LongtermPurchaseCommitmentRealEstateTransferTaxesAmount_C5352D26480CA934BCEB7D6AC72D0FD6" xlink:to="lab_acc_LongtermPurchaseCommitmentRealEstateTransferTaxesAmount_C5352D26480CA934BCEB7D6AC72D0FD6" xlink:type="arc"/>
<link:label id="lab_acc_PaymentsforRealEstateTransferTaxes_015F830274F589A7EA8A7D6AC72DB8B5_terseLabel_en-US" xlink:label="lab_acc_PaymentsforRealEstateTransferTaxes_015F830274F589A7EA8A7D6AC72DB8B5" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Real estate transfer taxes paid upon conveyance of land </link:label>
<link:label id="lab_acc_PaymentsforRealEstateTransferTaxes_015F830274F589A7EA8A7D6AC72DB8B5_label_en-US" xlink:label="lab_acc_PaymentsforRealEstateTransferTaxes_015F830274F589A7EA8A7D6AC72DB8B5" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Payments for Real Estate Transfer Taxes </link:label>
<link:label id="lab_acc_PaymentsforRealEstateTransferTaxes_015F830274F589A7EA8A7D6AC72DB8B5_documentation_en-US" xlink:label="lab_acc_PaymentsforRealEstateTransferTaxes_015F830274F589A7EA8A7D6AC72DB8B5" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Payments for Real Estate Transfer Taxes </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_PaymentsforRealEstateTransferTaxes" xlink:label="loc_acc_PaymentsforRealEstateTransferTaxes_015F830274F589A7EA8A7D6AC72DB8B5" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_PaymentsforRealEstateTransferTaxes_015F830274F589A7EA8A7D6AC72DB8B5" xlink:to="lab_acc_PaymentsforRealEstateTransferTaxes_015F830274F589A7EA8A7D6AC72DB8B5" xlink:type="arc"/>
<link:label id="lab_acc_CoreJointVentureIMember_4F118939ECA64A2082EF5ED8CFC4D105_terseLabel_en-US" xlink:label="lab_acc_CoreJointVentureIMember_4F118939ECA64A2082EF5ED8CFC4D105" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Core Joint Venture I </link:label>
<link:label id="lab_acc_CoreJointVentureIMember_4F118939ECA64A2082EF5ED8CFC4D105_label_en-US" xlink:label="lab_acc_CoreJointVentureIMember_4F118939ECA64A2082EF5ED8CFC4D105" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Core Joint Venture I [Member] </link:label>
<link:label id="lab_acc_CoreJointVentureIMember_4F118939ECA64A2082EF5ED8CFC4D105_documentation_en-US" xlink:label="lab_acc_CoreJointVentureIMember_4F118939ECA64A2082EF5ED8CFC4D105" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Core Joint Venture I [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_CoreJointVentureIMember" xlink:label="loc_acc_CoreJointVentureIMember_4F118939ECA64A2082EF5ED8CFC4D105" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_CoreJointVentureIMember_4F118939ECA64A2082EF5ED8CFC4D105" xlink:to="lab_acc_CoreJointVentureIMember_4F118939ECA64A2082EF5ED8CFC4D105" xlink:type="arc"/>
<link:label id="lab_acc_TheHubatEugeneMember_D46AF95EC8ABDD316AAA5EC17105BA75_terseLabel_en-US" xlink:label="lab_acc_TheHubatEugeneMember_D46AF95EC8ABDD316AAA5EC17105BA75" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Hub Eugene </link:label>
<link:label id="lab_acc_TheHubatEugeneMember_D46AF95EC8ABDD316AAA5EC17105BA75_label_en-US" xlink:label="lab_acc_TheHubatEugeneMember_D46AF95EC8ABDD316AAA5EC17105BA75" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> The Hub at Eugene [Member] </link:label>
<link:label id="lab_acc_TheHubatEugeneMember_D46AF95EC8ABDD316AAA5EC17105BA75_documentation_en-US" xlink:label="lab_acc_TheHubatEugeneMember_D46AF95EC8ABDD316AAA5EC17105BA75" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The Hub at Eugene [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TheHubatEugeneMember" xlink:label="loc_acc_TheHubatEugeneMember_D46AF95EC8ABDD316AAA5EC17105BA75" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TheHubatEugeneMember_D46AF95EC8ABDD316AAA5EC17105BA75" xlink:to="lab_acc_TheHubatEugeneMember_D46AF95EC8ABDD316AAA5EC17105BA75" xlink:type="arc"/>
<link:label id="lab_acc_StateMember_48A28BC452DE6A0908F55EC171057C9E_terseLabel_en-US" xlink:label="lab_acc_StateMember_48A28BC452DE6A0908F55EC171057C9E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> State </link:label>
<link:label id="lab_acc_StateMember_48A28BC452DE6A0908F55EC171057C9E_label_en-US" xlink:label="lab_acc_StateMember_48A28BC452DE6A0908F55EC171057C9E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> State [Member] </link:label>
<link:label id="lab_acc_StateMember_48A28BC452DE6A0908F55EC171057C9E_documentation_en-US" xlink:label="lab_acc_StateMember_48A28BC452DE6A0908F55EC171057C9E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> State [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_StateMember" xlink:label="loc_acc_StateMember_48A28BC452DE6A0908F55EC171057C9E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_StateMember_48A28BC452DE6A0908F55EC171057C9E" xlink:to="lab_acc_StateMember_48A28BC452DE6A0908F55EC171057C9E" xlink:type="arc"/>
<link:label id="lab_acc_HubAtUDistrictSeattleMember_11BA6F1FB4C9E179E4BE5EC171054B3B_verboseLabel_en-US" xlink:label="lab_acc_HubAtUDistrictSeattleMember_11BA6F1FB4C9E179E4BE5EC171054B3B" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US"> Hub U District Seattle </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_HubAtUDistrictSeattleMember" xlink:label="loc_acc_HubAtUDistrictSeattleMember_11BA6F1FB4C9E179E4BE5EC171054B3B" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_HubAtUDistrictSeattleMember_11BA6F1FB4C9E179E4BE5EC171054B3B" xlink:to="lab_acc_HubAtUDistrictSeattleMember_11BA6F1FB4C9E179E4BE5EC171054B3B" xlink:type="arc"/>
<link:label id="lab_acc_TheHubatAnnArborMember_3BF5603396CF83F26BD05EC1710538B6_terseLabel_en-US" xlink:label="lab_acc_TheHubatAnnArborMember_3BF5603396CF83F26BD05EC1710538B6" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Hub Ann Arbor </link:label>
<link:label id="lab_acc_TheHubatAnnArborMember_3BF5603396CF83F26BD05EC1710538B6_label_en-US" xlink:label="lab_acc_TheHubatAnnArborMember_3BF5603396CF83F26BD05EC1710538B6" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> The Hub at Ann Arbor [Member] </link:label>
<link:label id="lab_acc_TheHubatAnnArborMember_3BF5603396CF83F26BD05EC1710538B6_documentation_en-US" xlink:label="lab_acc_TheHubatAnnArborMember_3BF5603396CF83F26BD05EC1710538B6" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The Hub at Ann Arbor [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TheHubatAnnArborMember" xlink:label="loc_acc_TheHubatAnnArborMember_3BF5603396CF83F26BD05EC1710538B6" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TheHubatAnnArborMember_3BF5603396CF83F26BD05EC1710538B6" xlink:to="lab_acc_TheHubatAnnArborMember_3BF5603396CF83F26BD05EC1710538B6" xlink:type="arc"/>
<link:label id="lab_acc_TheHubatFlagstaffMember_B00239D3379E8F93DFF75EC1710561AE_terseLabel_en-US" xlink:label="lab_acc_TheHubatFlagstaffMember_B00239D3379E8F93DFF75EC1710561AE" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Hub Flagstaff </link:label>
<link:label id="lab_acc_TheHubatFlagstaffMember_B00239D3379E8F93DFF75EC1710561AE_label_en-US" xlink:label="lab_acc_TheHubatFlagstaffMember_B00239D3379E8F93DFF75EC1710561AE" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> The Hub at Flagstaff [Member] </link:label>
<link:label id="lab_acc_TheHubatFlagstaffMember_B00239D3379E8F93DFF75EC1710561AE_documentation_en-US" xlink:label="lab_acc_TheHubatFlagstaffMember_B00239D3379E8F93DFF75EC1710561AE" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The Hub at Flagstaff [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TheHubatFlagstaffMember" xlink:label="loc_acc_TheHubatFlagstaffMember_B00239D3379E8F93DFF75EC1710561AE" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TheHubatFlagstaffMember_B00239D3379E8F93DFF75EC1710561AE" xlink:to="lab_acc_TheHubatFlagstaffMember_B00239D3379E8F93DFF75EC1710561AE" xlink:type="arc"/>
<link:label id="lab_acc_TheHubatWestLafayetteMember_C04AD46050A08EF670A85EC17105C346_terseLabel_en-US" xlink:label="lab_acc_TheHubatWestLafayetteMember_C04AD46050A08EF670A85EC17105C346" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> Hub West Lafayette </link:label>
<link:label id="lab_acc_TheHubatWestLafayetteMember_C04AD46050A08EF670A85EC17105C346_label_en-US" xlink:label="lab_acc_TheHubatWestLafayetteMember_C04AD46050A08EF670A85EC17105C346" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> The Hub at West Lafayette [Member] </link:label>
<link:label id="lab_acc_TheHubatWestLafayetteMember_C04AD46050A08EF670A85EC17105C346_documentation_en-US" xlink:label="lab_acc_TheHubatWestLafayetteMember_C04AD46050A08EF670A85EC17105C346" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The Hub at West Lafayette [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TheHubatWestLafayetteMember" xlink:label="loc_acc_TheHubatWestLafayetteMember_C04AD46050A08EF670A85EC17105C346" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TheHubatWestLafayetteMember_C04AD46050A08EF670A85EC17105C346" xlink:to="lab_acc_TheHubatWestLafayetteMember_C04AD46050A08EF670A85EC17105C346" xlink:type="arc"/>
<link:label id="lab_acc_TheArlieMember_F13843CD0FEB41326DF15EC171057763_terseLabel_en-US" xlink:label="lab_acc_TheArlieMember_F13843CD0FEB41326DF15EC171057763" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> The Arlie </link:label>
<link:label id="lab_acc_TheArlieMember_F13843CD0FEB41326DF15EC171057763_label_en-US" xlink:label="lab_acc_TheArlieMember_F13843CD0FEB41326DF15EC171057763" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> The Arlie [Member] </link:label>
<link:label id="lab_acc_TheArlieMember_F13843CD0FEB41326DF15EC171057763_documentation_en-US" xlink:label="lab_acc_TheArlieMember_F13843CD0FEB41326DF15EC171057763" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> The Arlie [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TheArlieMember" xlink:label="loc_acc_TheArlieMember_F13843CD0FEB41326DF15EC171057763" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TheArlieMember_F13843CD0FEB41326DF15EC171057763" xlink:to="lab_acc_TheArlieMember_F13843CD0FEB41326DF15EC171057763" xlink:type="arc"/>
<link:label id="lab_acc_TwelveatUDistrictMember_B0D9CDF4AF2EDBE447BC5EC17105939E_terseLabel_en-US" xlink:label="lab_acc_TwelveatUDistrictMember_B0D9CDF4AF2EDBE447BC5EC17105939E" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US"> TWELVE at U District </link:label>
<link:label id="lab_acc_TwelveatUDistrictMember_B0D9CDF4AF2EDBE447BC5EC17105939E_label_en-US" xlink:label="lab_acc_TwelveatUDistrictMember_B0D9CDF4AF2EDBE447BC5EC17105939E" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US"> Twelve at U District [Member] </link:label>
<link:label id="lab_acc_TwelveatUDistrictMember_B0D9CDF4AF2EDBE447BC5EC17105939E_documentation_en-US" xlink:label="lab_acc_TwelveatUDistrictMember_B0D9CDF4AF2EDBE447BC5EC17105939E" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US"> Twelve at U District [Member] </link:label>
<link:loc xlink:href="acc-20170930.xsd#acc_TwelveatUDistrictMember" xlink:label="loc_acc_TwelveatUDistrictMember_B0D9CDF4AF2EDBE447BC5EC17105939E" xlink:type="locator"/>
<link:labelArc order="1" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_acc_TwelveatUDistrictMember_B0D9CDF4AF2EDBE447BC5EC17105939E" xlink:to="lab_acc_TwelveatUDistrictMember_B0D9CDF4AF2EDBE447BC5EC17105939E" xlink:type="arc"/>
</link:labelLink>
</link:linkbase>

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