SEC Info - American Campus Communities Inc, et al. - ‘10-Q’ for 9/30/17

American Campus Communities Inc, et al. – ‘10-Q’ for 9/30/17 – ‘R7’

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

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

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Organization and Description of Business

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Description of Business

American Campus Communities, Inc. (“ACC”) is a real estate investment trust (“REIT”) that commenced operations effective with the completion of an initial public offering (“IPO”) on August 17, 2004. Through ACC’s controlling interest in American Campus Communities Operating Partnership, L.P. (“ACCOP”), ACC is one of the largest owners, managers and developers of high quality student housing properties in the United States in terms of beds owned and under management. ACC is a fully integrated, self-managed and self-administered equity REIT with expertise in the acquisition, design, financing, development, construction management, leasing and management of student housing properties. ACC’s common stock is publicly traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “ACC.”

The general partner of ACCOP is American Campus Communities Holdings, LLC (“ACC Holdings”), an entity that is wholly-owned by ACC. As of September 30, 2017, ACC Holdings held an ownership interest in ACCOP of less than 1%. The limited partners of ACCOP are ACC and other limited partners consisting of current and former members of management and nonaffiliated third parties. As of September 30, 2017, ACC owned an approximate 99.2% limited partnership interest in ACCOP. As the sole member of the general partner of ACCOP, ACC has exclusive control of ACCOP’s day-to-day management. Management operates ACC and ACCOP as one business. The management of ACC consists of the same members as the management of ACCOP. ACC consolidates ACCOP for financial reporting purposes, and ACC does not have significant assets other than its investment in ACCOP. Therefore, the assets and liabilities of ACC and ACCOP are the same on their respective financial statements. References to the “Company” means collectively ACC, ACCOP and those entities/subsidiaries owned or controlled by ACC and/or ACCOP. References to the “Operating Partnership” mean collectively ACCOP and those entities/subsidiaries owned or controlled by ACCOP. Unless otherwise indicated, the accompanying Notes to the Consolidated Financial Statements apply to both the Company and the Operating Partnership.

As of September 30, 2017, the Company’s property portfolio contained 166 properties with approximately 102,500 beds. The Company’s property portfolio consisted of 130 owned off-campus student housing properties that are in close proximity to colleges and universities, 31 American Campus Equity (“ACE®”) properties operated under ground/facility leases with 14 university systems and five on-campus participating properties operated under ground/facility leases with the related university systems. Of the 166 properties, 12 were under development as of September 30, 2017, and when completed will consist of a total of approximately 8,300 beds. The Company’s communities contain modern housing units and are supported by a resident assistant system and other student-oriented programming, with many offering resort-style amenities.

Through one of ACC’s taxable REIT subsidiaries (“TRSs”), the Company also provides construction management and development services, primarily for student housing properties owned by colleges and universities, charitable foundations, and others. As of September 30, 2017, also through one of ACC’s TRSs, the Company provided third-party management and leasing services for 38 properties that represented approximately 28,800 beds. Third-party management and leasing services are typically provided pursuant to management contracts that have initial terms that range from one to five years. As of September 30, 2017, the Company’s total owned and third-party managed portfolio included 204 properties with approximately 131,300 beds.

This ‘10-Q’ Filing

Date

Other Filings

Filed on:

11/3/17

For Period end:

9/30/17

8/17/04

3, 3/A, 4, 8-K

List all Filings

American Campus Communities Inc, et al. – ‘10-Q’ for 9/30/17 – ‘R7’

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

Previous ‘10-Q’: ‘10-Q’ on 8/4/17 for 6/30/17 · Next: ‘10-Q’ on 5/4/18 for 3/31/18 · Latest: ‘10-Q’ on 5/5/22 for 3/31/22

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

‘R7’ — Organization and Description of Business

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

American Campus Communities Inc, et al. – ‘10-Q’ for 9/30/17 – ‘R7’

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

Previous ‘10-Q’: ‘10-Q’ on 8/4/17 for 6/30/17 · Next: ‘10-Q’ on 5/4/18 for 3/31/18 · Latest: ‘10-Q’ on 5/5/22 for 3/31/22

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

‘R7’ — Organization and Description of Business

This is an IDEA Financial Report. [ Alternative Formats ]

Dates Referenced Herein and Documents Incorporated by Reference

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