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MEDIA RELEASE |
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American Campus Communities Announces Proxy Advisory Firm ISS
Recommends Stockholders Vote FOR Proposed
Acquisition by Blackstone Funds
AUSTIN, TX, July 19, 2022 American Campus Communities, Inc. (NYSE:ACC), the largest owner, manager and developer of high-quality student
housing properties in the U.S., today announced that a leading independent proxy advisory firm, Institutional Shareholder Services Inc. (ISS), has recommended that stockholders vote FOR the previously announced all-cash acquisition of the company by Blackstone Core+ perpetual capital vehicles, primarily comprised of Blackstone Real Estate Income Trust, Inc. (BREIT), alongside Blackstone Property Partners L.P.
(BPP), at the companys upcoming Special Meeting of Stockholders (the Special Meeting) scheduled for August 4, 2022 at 10:00 a.m., Central Time.
As previously announced, the company and affiliates of BREIT and BPP have entered into a definitive merger agreement pursuant to which such affiliates have
agreed to acquire the outstanding shares of common stock of the company for $65.47 per share. The proposed acquisition is expected to be completed on or about August 9, 2022, subject to approval by the companys stockholders and the
satisfaction or waiver of other customary closing conditions.
Our Board of Directors recommends that you vote FOR the proposed merger.
All stockholders of record as of the close of business on June 14, 2022 are entitled to vote at the Special Meeting.
The companys stockholders
are reminded that their vote is extremely important, no matter how many shares they own. To follow the recommendations of ISS and our Board of Directors, stockholders should vote FOR the proposed merger today.
If you have any questions about the Special Meeting or need assistance voting your shares, please contact our proxy solicitor, MacKenzie Partners, Inc., by
email at proxy@mackenziepartners.com or by phone at (800) 322-2885.
About American Campus Communities
American Campus Communities, Inc. is the largest owner, manager and developer of high-quality student housing communities in the United States. The company is
a fully integrated, self-managed and self-administered equity real estate investment trust (REIT) with expertise in the design, finance, development, construction management and operational management of student housing properties. As of
March 31, 2022, American Campus Communities owned 166 student housing properties containing approximately 111,900 beds. Including its owned and third-party managed properties, ACCs total managed portfolio consisted of 202 properties with
approximately 140,300 beds. Visit www.americancampus.com.