American Campus Communities lifts revolving facility to $1 billion

By Sarah Lizee

Olympia, Wash., Feb. 20 – American Campus Communities, Inc.’s operating partnership, American Campus Communities Operating Partnership LP, entered into a first amendment to its fifth amended and restated credit agreement on Feb. 13 to increase its senior unsecured revolving credit facility by $300 million to $1 billion, according to an 8-K filing with the Securities and Exchange Commission.

The revolver, which matures on March 15, 2022, may be further expanded by an additional $200 million under some conditions.

The revolver is available to, among other things, fund future property development, acquisitions and other working capital needs, and for general corporate purposes.

KeyBank NA is the administrative agent.

The real estate investment trust for student housing is based in Austin, Texas.

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