Student Housing Numbers Maintain Upward Trend
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Student housing prices thus far in Q3 have averaged more than $150,000 per unit.
NEW YORK CITY—This past July 30, Standard & Poor’supgraded its outlook for American Campus Communities Inc. from “stable” to “positive” and affirmed its corporate credit rating of BBB-. S&P based the outlook upgrade on the company’s improving credit metrics and expectations for continued strong operating performance supported by “favorable tailwinds” in the modern student housing sector.
ACC’s second-quarter results, reported a few days before the S&P upgrade, provide one indicator of student housing’s tailwinds. Same-store NOI was up 4.7% over the year prior, while same-store wholly owned occupancy was 88.9% as of June 30, compared to 87.8% for the same date in 2014…
