American Campus Communities Provides COVID-19 Interim Update in Advance of REITWeek 2020

American Campus Communities, Inc. (NYSE: ACC), the nation’s largest owner and manager of high-quality student housing properties, today provided a COVID-19 interim update on universities’ planned delivery of curriculum for the fall, leasing for the 2020-2021 academic year and progress on rent collections in connection with REITWeek 2020: NAREIT’s Investor Forum, which will begin on June 2, 2020.

Universities’ Plans for Fall Curriculum Delivery

As reported by The Chronicle of Higher Education, 47 of the 68 universities served by the company’s properties are planning for a return to in-person classes for Fall 2020, while 12 are still considering a range of possible scenarios or a hybrid model. At this time, only three universities the company serves, which are part of the California State University System and account for only 3 of its 166 properties, are planning for primarily online classes.

Fall Curriculum Plans for
ACC's 68 Universities
As of May 31, 2020
Delivery Method					Number of Universities			% of Universities
Planning for In-Person					47			69.1%
Planning for Online					3			4.4%
Proposing Hybrid Model					5			7.4%
Still Considering a Range of Scenarios					7			10.3%
Waiting to Decide					6			8.8%
Total ACC Universities Served					68			100.0%

Source: The Chronicle of Higher Education.

Note: The Chronicle of Higher Education currently does not track the University of Central Florida which is considering a range of scenarios and is included as such in the above chart.