Bill Bayless, CEO of American Campus Communities (NYSE: ACC), joined REIT.com for a video interview at REITWeek 2017: NAREIT’s Investor Forum at the New York Hilton Midtown.
Three essential amenities for today’s student housing developments include technology capability, areas for group and individual study and related tasks, and health and wellness facilities, according to Bayless.
“You’re seeing an immersion of the academic experience coming together with the real estate to where it’s really creating these living-learning communities,” Bayless said.
Meanwhile, Bayless said he expects the company to be a net buyer this year.
He also said that the best growth opportunities for 2017 and into 2018 continue to be on the development side. American Campus Communities has $603 million of development projects to be delivered this fall. The company has also announced a $1.3 billion development pipeline through 2019.
“Development continues to be very accretive to value creation,” Bayless said.