Strong Financial Foundations and Future Growth Prospects
COMPANY COMPETITIVE POSITION
Creating value through selective development.
ACC has consistently delivered high-quality, value-enhancing developments throughout the economic cycle.
ACC has set a high standard on what projects are
selected to be on-balance sheet.
.
Over the last decade, ACC closed on only 15% of all
underwritten development deals.
- $8.1 billion in owned and third-party development for
-
-
our university partners since inception.
$4.8 billion in owned developments.
.
$2.7 billion through the on-campus ACE program.
•
$2.1 billion in off-campus development.
Current yields of 6%+ represent an attractive 150-200
basis point spread to private market values.
0.10
$155
60.8%
Average miles to
campus for ACC's
developed assets.
Per bed 2019 annual
recurring capex for
development assets
compared to $292 for
acquired properties.
Development NOI
margin compared to
51.2% for acquired
properties¹.
Source: Internal company data and public filings.
1) Pre-COVID as of 2019.
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