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 the company’s board of directors has promoted William Talbot to chief investment officer. In this role, Talbot will provide strategic direction and executive oversight of the investment platform, which includes acquisition and development activity, as well as dispositions and asset management, for the Austin-based company with $4.5 billion in gross assets.
Talbot has served American Campus for more than 11 years, most recently as executive vice president of investments. Talbot joined ACC in 2001 as the director of investments when the company’s total assets were approximately $250 million. Over the years, his career advanced as the director of asset management and investments, the vice president of acquisitions, and as the senior vice president of acquisitions/investments. Since 2004, including those projects currently under contract, Talbot has been involved with the acquisition of more than 130 properties totaling approximately $4.0 billion including the public merger of GMH Communities Trust and the portfolio acquisitions of Royal Properties, Campus Acquisitions and 19 properties from Kayne Anderson scheduled to close during the fourth quarter.
“William Talbot’s strategic leadership, transaction acumen and collaboration within the organization have been instrumental in creating value for the company,” said Bill Bayless, American Campus CEO. “He is the right person to lead the investment team during a time of industry consolidation and high-quality growth for the company.”
About American Campus Communities
American Campus Communities, Inc. is the largest developer, owner and manager 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. American Campus Communities owns 141 student housing properties containing approximately 86,800 beds. Including its owned and third-party managed properties, ACC’s total managed portfolio consists of 168 properties with approximately 109,300 beds.
In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which American Campus Communities operates, management's beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.