American Campus Communities (ACC) 10-K 1 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 24, 2017	Jun. 30, 2016
Document Information [Line Items]
Entity Registrant Name	AMERICAN CAMPUS COMMUNITIES INC
Entity Central Index Key	1,283,630
Trading Symbol	acc
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Well-Known Seasoned Issuer	Yes
Entity Common Stock Shares Outstanding (in shares)		133,289,669
Entity Public Float			$ 5,101,195,681
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Document Information [Line Items]
Entity Registrant Name	American Campus Communities Operating Partnership LP
Entity Central Index Key	1,357,369
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Well-Known Seasoned Issuer	No

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Investments in real estate:
Investments in real estate, net	$ 5,538,161	$ 5,667,754
Cash and cash equivalents	22,140	16,659
Restricted cash	24,817	33,675
Student contracts receivable, net	8,428	18,475
Other assets	272,367	269,685
Total assets	5,865,913	6,006,248
Liabilities:
Secured mortgage, construction and bond debt	688,195	1,094,962
Unsecured notes	1,188,737	1,186,700
Unsecured term loans	149,065	597,719
Unsecured revolving credit facility	99,300	68,900
Accounts payable and accrued expenses	76,614	71,988
Other liabilities	158,437	144,811
Total liabilities	2,360,348	3,165,080
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests	55,078	59,511
American Campus Communities, Inc. and Subsidiaries stockholders' equity:
Common stock, $0.01 par value, 800,000,000 shares authorized, 132,225,488 and 112,350,877 shares issued and outstanding at December 31, 2016 and December 31, 2015, respectively	1,322	1,124
Additional paid in capital	4,118,842	3,325,806
Treasury stock, at cost, 20,181 and 10,155 shares at December 31, 2016 and December 31, 2015, respectively	(975)	(403)
Accumulated earnings and dividends	(670,137)	(550,501)
Accumulated other comprehensive loss	(4,067)	(5,830)
Total American Campus Communities, Inc. and Subsidiaries stockholders’ equity	3,444,985	2,770,196
Total equity	3,450,487	2,781,657
Partners' capital:
Accumulated other comprehensive loss	(4,067)	(5,830)
Total liabilities and equity/capital	5,865,913	6,006,248
Wholly owned properties
Investments in real estate:
Investments in real estate, net	5,427,014	5,522,271
Liabilities:
Secured mortgage, construction and bond debt	583,432	980,282
Wholly-owned properties held for sale
Investments in real estate:
Investments in real estate, net	25,350	55,354
On-campus participating properties
Investments in real estate:
Investments in real estate, net	85,797	90,129
Partially-owned properties
American Campus Communities, Inc. and Subsidiaries stockholders' equity:
Noncontrolling interests – partially owned properties	5,502	11,461
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Investments in real estate:
Investments in real estate, net	5,538,161	5,667,754
Cash and cash equivalents	22,140	16,659
Restricted cash	24,817	33,675
Student contracts receivable, net	8,428	18,475
Other assets	272,367	269,685
Total assets	5,865,913	6,006,248
Liabilities:
Secured mortgage, construction and bond debt	688,195	1,094,962
Unsecured notes	1,188,737	1,186,700
Unsecured term loans	149,065	597,719
Unsecured revolving credit facility	99,300	68,900
Accounts payable and accrued expenses	76,614	71,988
Other liabilities	158,437	144,811
Total liabilities	2,360,348	3,165,080
Commitments and contingencies (Note 16)
Redeemable noncontrolling interests	55,078	59,511
American Campus Communities, Inc. and Subsidiaries stockholders' equity:
Accumulated other comprehensive loss	(4,067)	(5,830)
Partners' capital:
General partner - 12,222 OP units outstanding at both December 31, 2016 and December 31, 2015	82	93
Limited partner - 132,233,447 and 112,348,810 OP units outstanding at December 31, 2016 and December 31, 2015, respectively	3,448,970	2,775,933
Accumulated other comprehensive loss	(4,067)	(5,830)
Total partners’ capital	3,444,985	2,770,196
Total capital	3,450,487	2,781,657
Total liabilities and equity/capital	5,865,913	6,006,248
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Wholly owned properties
Investments in real estate:
Investments in real estate, net	5,427,014	5,522,271
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Wholly-owned properties held for sale
Investments in real estate:
Investments in real estate, net	25,350	55,354
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | On-campus participating properties
Investments in real estate:
Investments in real estate, net	85,797	90,129
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Partially-owned properties
Partners' capital:
Noncontrolling interests – partially owned properties	$ 5,502	$ 11,461

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	800,000,000	800,000,000
Common stock, shares issued (shares)	132,225,488	112,350,877
Common stock, shares outstanding (shares)	132,225,488	112,350,877
Treasury stock, shares	20,181	10,155
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
General partner, OP units outstanding (shares)	12,222	12,222
Limited partner, OP units outstanding (shares)	132,233,447	112,348,810

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Third-party development services	$ 4,606	$ 4,964	$ 4,018
Third-party management services	9,724	8,813	7,669
Resident services	3,206	3,109	3,112
Total revenues	786,361	753,381	733,915
Operating expenses:
Third-party development and management services	14,533	14,346	12,008
General and administrative	22,493	20,838	18,681
Depreciation and amortization	211,387	208,788	197,495
Ground/facility leases	9,167	8,232	7,397
Provision for real estate impairment	4,895	0	2,443
Total operating expenses	613,218	596,477	578,929
Operating income	173,143	156,904	154,986
Nonoperating income and (expenses):
Interest income	5,481	4,421	4,168
Interest expense	(78,687)	(87,789)	(90,362)
Amortization of deferred financing costs	(6,520)	(5,550)	(5,918)
Gain (loss) from disposition of real estate	21,197	52,699	(368)
Loss from early extinguishment of debt	(12,841)	(1,770)	0
Other nonoperating income	0	388	186
Total nonoperating expenses	(71,370)	(37,601)	(92,294)
Income before income taxes and discontinued operations	101,773	119,303	62,692
Income tax provision	(1,150)	(1,242)	(1,308)
Income from continuing operations	100,623	118,061	61,384
Discontinued operations:
Loss attributable to discontinued operations	0	0	(123)
Gain from disposition of real estate	0	0	2,843
Total discontinued operations	0	0	2,720
Net income	100,623	118,061	64,104
Net income attributable to noncontrolling interests – partially owned properties	(1,562)	(2,070)	(1,265)
Net income attributable to ACC, Inc. and Subsidiaries common stockholders	99,061	115,991	62,839
Net income attributable to common stockholders - basic	97,723	114,905	61,763
Other comprehensive income (loss)
Change in fair value of interest rate swaps and other	1,763	464	(4,859)
Comprehensive income	$ 100,824	$ 116,455	$ 57,980
Income per share attributable to ACC, Inc. and Subsidiaries common stockholders – basic
Income from continuing operations per share (in dollars per share)	$ 0.76	$ 1.03	$ 0.56
Net income per share (in dollars per share)	0.76	1.03	0.59
Income per share attributable to ACC, Inc. and Subsidiaries common stockholders – diluted
Income from continuing operations per share (in dollars per share)	0.75	1.02	0.56
Net income per share (in dollars per share)	$ 0.75	$ 1.02	$ 0.58
Weighted-average common shares/units outstanding:
Basic (in shares)	129,228,748	111,987,361	105,032,155
Diluted (in shares)	130,018,729	114,032,222	105,711,420
Weighted-average common units outstanding:
Distributions declared per common share (in dollars per share)	$ 1.66	$ 1.58	$ 1.50
Redeemable noncontrolling interests
Discontinued operations:
Net income attributable to noncontrolling interests – partially owned properties	$ (1,106)	$ (1,458)	$ (913)
Wholly owned properties
Revenues:
Operating lease revenue	735,392	704,909	690,582
Operating expenses:
Operating expenses excluding general, administrative, depreciation and lease expense	337,296	331,836	329,615
On-campus participating properties
Revenues:
Operating lease revenue	33,433	31,586	28,534
Operating expenses:
Operating expenses excluding general, administrative, depreciation and lease expense	13,447	12,437	11,290
Partially-owned properties
Discontinued operations:
Net income attributable to noncontrolling interests – partially owned properties	(456)	(612)	(352)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Revenues:
Third-party development services	4,606	4,964	4,018
Third-party management services	9,724	8,813	7,669
Resident services	3,206	3,109	3,112
Total revenues	786,361	753,381	733,915
Operating expenses:
Third-party development and management services	14,533	14,346	12,008
General and administrative	22,493	20,838	18,681
Depreciation and amortization	211,387	208,788	197,495
Ground/facility leases	9,167	8,232	7,397
Provision for real estate impairment	4,895	0	2,443
Total operating expenses	613,218	596,477	578,929
Operating income	173,143	156,904	154,986
Nonoperating income and (expenses):
Interest income	5,481	4,421	4,168
Interest expense	(78,687)	(87,789)	(90,362)
Amortization of deferred financing costs	(6,520)	(5,550)	(5,918)
Gain (loss) from disposition of real estate	21,197	52,699	(368)
Loss from early extinguishment of debt	(12,841)	(1,770)	0
Other nonoperating income	0	388	186
Total nonoperating expenses	(71,370)	(37,601)	(92,294)
Income before income taxes and discontinued operations	101,773	119,303	62,692
Income tax provision	(1,150)	(1,242)	(1,308)
Income from continuing operations	100,623	118,061	61,384
Discontinued operations:
Loss attributable to discontinued operations	0	0	(123)
Gain from disposition of real estate	0	0	2,843
Total discontinued operations	0	0	2,720
Net income	100,623	118,061	64,104
Net income attributable to noncontrolling interests – partially owned properties	(456)	(612)
Net income attributable to ACC, Inc. and Subsidiaries common stockholders	100,167	117,449	63,752
Series A preferred units distributions	(146)	(176)	(178)
Net income attributable to common stockholders - basic	100,021	117,273	63,574
Other comprehensive income (loss)
Change in fair value of interest rate swaps and other	1,763	464	(4,859)
Comprehensive income	$ 101,784	$ 117,737	$ 58,715
Income per share attributable to ACC, Inc. and Subsidiaries common stockholders – basic
Income from continuing operations per share (in dollars per share)	$ 0.76	$ 1.03	$ 0.56
Net income per share (in dollars per share)	0.76	1.03	0.59
Income per share attributable to ACC, Inc. and Subsidiaries common stockholders – diluted
Income from continuing operations per share (in dollars per share)	0.75	1.02	0.56
Net income per share (in dollars per share)	0.75	1.02	0.58
Net income per unit attributable to common unitholders – basic
Income from continuing operations per unit (in dollars per unit)	0.76	1.03	0.56
Net income per unit (in dollars per unit)	0.76	1.03	0.59
Net income per unit attributable to common unitholders – diluted
Income from continuing operations per unit (in dollars per unit)	0.75	1.02	0.56
Net income per unit (in dollars per unit)	$ 0.75	$ 1.02	$ 0.58
Weighted-average common units outstanding:
Basic (in units)	130,460,248	113,351,242	106,245,664
Diluted (in units)	131,250,229	114,032,222	106,924,929
Distributions declared per Common Unit (in dollars per unit)	$ 1.66	$ 1.58	$ 1.50
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Wholly owned properties
Revenues:
Operating lease revenue	$ 735,392	$ 704,909	$ 690,582
Operating expenses:
Operating expenses excluding general, administrative, depreciation and lease expense	337,296	331,836	329,615
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | On-campus participating properties
Revenues:
Operating lease revenue	33,433	31,586	28,534
Operating expenses:
Operating expenses excluding general, administrative, depreciation and lease expense	13,447	12,437	11,290
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Partially-owned properties
Discontinued operations:
Net income attributable to noncontrolling interests – partially owned properties	$ (456)	$ (612)	$ (352)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY/ CAPITAL - USD ($) $ in Thousands	Total	Partially Owned Properties	Accumulated Other Comprehensive Loss	Common Shares	Additional Paid-in Capital	Treasury Stock	Accumulated Earnings and Dividends	Noncontrolling InterestsPartially Owned Properties	AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.	AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.General Partner	AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.Limited Partner	AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.Accumulated Other Comprehensive Loss	AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.Noncontrolling InterestsPartially Owned Properties
Beginning Balance (in shares) at Dec. 31, 2013				104,782,817		0
Beginning Balance at Dec. 31, 2013	$ 2,630,565		$ (1,435)	$ 1,043	$ 3,017,631	$ 0	$ (392,338)	$ 5,664
Beginning Balance (in units) at Dec. 31, 2013										12,222	104,770,595
Beginning Balance at Dec. 31, 2013									$ 2,630,565	$ 111	$ 2,626,225	$ (1,435)	$ 5,664
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustments to reflect redeemable noncontrolling interests at fair value	(8,200)				(8,200)				(8,200)		(8,200)
Amortization of restricted stock awards	6,816				6,816				6,816		$ 6,816
Vesting of restricted stock awards and restricted stock units (in shares)				133,910							133,910
Vesting of restricted stock awards and restricted stock units	(1,998)			$ 6	(2,004)				(1,998)		$ (1,998)
Distributions to common and restricted stockholders	(158,487)						(158,487)
Distributions									(158,487)	(18)	$ (158,469)
Distributions to noncontrolling interests - partially owned properties	(287)							(287)	(287)				(287)
Conversion of common units to common stock (in units)				52,269							52,269
Conversion of common units to common stock (in shares)				52,269							52,269
Conversion of common and preferred operating partnership units to common stock	602			$ 1	601				602		$ 602
Net proceeds from sale of common stock (in shares)				2,206,240
Net proceeds from sale of common stock	87,718			$ 22	87,696
Change in fair value of interest rate swaps and other	(4,859)		(4,859)						(4,859)			(4,859)
Amortization of interest rate swap terminations	222		222						222			222
Issuance of units in exchange for contributions of equity offering proceeds (in units)											2,206,240
Issuance of units in exchange for contributions of equity offering proceeds									87,718		$ 87,718
Net income	63,191						62,839	352	63,191	$ 7	$ 62,832		352
Ending Balance (in shares) at Dec. 31, 2014				107,175,236		0
Ending Balance at Dec. 31, 2014	2,615,283		(6,072)	$ 1,072	3,102,540	$ 0	(487,986)	5,729
Ending Balance (in units) at Dec. 31, 2014										12,222	107,163,014
Ending Balance at Dec. 31, 2014									2,615,283	$ 100	$ 2,615,526	(6,072)	5,729
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustments to reflect redeemable noncontrolling interests at fair value	4,462				4,462				4,462		4,462
Amortization of restricted stock awards	7,505				7,505				7,505		$ 7,505
Vesting of restricted stock awards and restricted stock units (in shares)				122,502		10,155					132,657
Vesting of restricted stock awards and restricted stock units	(2,145)			$ 1	(1,743)	$ (403)			(2,145)		$ (2,145)
Distributions to common and restricted stockholders	(178,506)						(178,506)
Distributions									(178,506)	(19)	(178,487)
Distributions to noncontrolling interests - partially owned properties	(635)							(635)	(635)				(635)
Increase in ownership of consolidated subsidiary	(1,065)				435			(1,500)	(1,065)		$ 435		(1,500)
Contributions by noncontrolling partners	7,255							7,255	7,255				7,255
Conversion of common units to common stock (in units)				119,474							119,474
Conversion of common units to common stock (in shares)				119,474							119,474
Conversion of common and preferred operating partnership units to common stock	3,036			$ 2	3,034				3,036		$ 3,036
Redemption of common units for cash	(3,061)				(3,061)				(3,061)		(3,061)
Net proceeds from sale of common stock (in shares)				4,933,665
Net proceeds from sale of common stock	212,683			$ 49	212,634
Change in fair value of interest rate swaps and other	(170)		(170)						(170)		$ 0	(170)
Amortization of interest rate swap terminations	412		412						412			412
Issuance of units in exchange for contributions of equity offering proceeds (in units)											4,933,665
Issuance of units in exchange for contributions of equity offering proceeds									212,683		$ 212,683
Net income	116,603						115,991	612	116,603	$ 12	$ 115,979		612
Ending Balance (in shares) at Dec. 31, 2015				112,350,877		10,155
Ending Balance at Dec. 31, 2015	2,781,657		(5,830)	$ 1,124	3,325,806	$ (403)	(550,501)	11,461
Ending Balance (in units) at Dec. 31, 2015										12,222	112,348,810
Ending Balance at Dec. 31, 2015									2,781,657	$ 93	$ 2,775,933	(5,830)	11,461
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustments to reflect redeemable noncontrolling interests at fair value	(7,937)				(7,937)				(7,937)		(7,937)
Amortization of restricted stock awards	9,316				9,316				9,316		$ 9,316
Vesting of restricted stock awards and restricted stock units (in shares)				132,850		10,026					142,876
Vesting of restricted stock awards and restricted stock units	(2,250)			$ 1	(1,679)	$ (572)			(2,250)		$ (2,250)
Distributions to common and restricted stockholders	(218,697)						(218,697)
Distributions									(218,697)	(20)	$ (218,677)
Distributions to noncontrolling interests - partially owned properties	(376)							(376)	(376)				(376)
Increase in ownership of consolidated subsidiary	(7,311)							(7,311)	7,311				7,311
Contributions by noncontrolling partners	1,272	$ 1,200						1,272	(1,272)				(1,272)
Conversion of common units to common stock (in units)				312,761							312,761
Conversion of common units to common stock (in shares)				312,761							312,761
Conversion of common and preferred operating partnership units to common stock	11,292			$ 3	11,289				11,292		$ 11,292
Net proceeds from sale of common stock (in shares)				19,429,000
Net proceeds from sale of common stock	782,241		0	$ 194	782,047
Change in fair value of interest rate swaps and other	1,350		1,350						1,350			1,350
Amortization of interest rate swap terminations	413		413					0	413			413
Issuance of units in exchange for contributions of equity offering proceeds (in units)											19,429,000
Issuance of units in exchange for contributions of equity offering proceeds									782,241		$ 782,241
Net income	99,517						99,061	456	99,517	$ 9	$ 99,052		456
Ending Balance (in shares) at Dec. 31, 2016				132,225,488		20,181
Ending Balance at Dec. 31, 2016	$ 3,450,487		$ (4,067)	$ 1,322	$ 4,118,842	$ (975)	$ (670,137)	$ 5,502
Ending Balance (in units) at Dec. 31, 2016										12,222	132,233,447
Ending Balance at Dec. 31, 2016									$ 3,450,487	$ 82	$ 3,448,970	$ (4,067)	$ 5,502

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating activities
Net income	$ 100,623	$ 118,061	$ 64,104
Adjustments to reconcile net income to net cash provided by operating activities:
Gain from disposition of real estate	(21,197)	(52,699)	(2,475)
Gain from insurance settlement	0	(388)	(186)
Loss from early extinguishment of debt	12,841	1,770	0
Provision for real estate impairment	4,895	0	2,443
Depreciation and amortization	211,387	208,788	197,542
Amortization of deferred financing costs and debt premiums/discounts	(5,145)	(6,280)	(6,769)
Share-based compensation	10,043	8,161	7,164
Income tax provision	1,150	1,242	1,308
Amortization of interest rate swap terminations and other	613	412	222
Changes in operating assets and liabilities:
Restricted cash	2,032	1,656	1,507
Student contracts receivable, net	8,709	(9,397)	(959)
Other assets	(15,905)	(23,475)	(12,632)
Accounts payable and accrued expenses	(83)	(1,201)	3,798
Other liabilities	(1,874)	17,136	7,176
Net cash provided by operating activities	308,089	263,786	262,243
Investing activities
Proceeds from disposition of properties and land parcels	571,424	427,304	10,101
Cash paid for property acquisitions	(102,804)	(291,352)	(74,641)
Cash paid for land acquisitions	(856)	(49,927)	(3,627)
Investment in on-campus participating property under development	0	0	(27,668)
Investment in direct financing lease, net	(6,650)	0	0
Investment in loans receivable	0	(5,176)	0
Proceeds from loans receivable	0	7,483	2,984
Change in restricted cash related to capital reserves	1,918	2,955	1,623
Decrease (increase) in escrow deposits for real estate investments	4,991	(7,033)	894
Proceeds from insurance settlement	0	388	758
Increase in ownership of consolidated subsidiary	(7,254)	(1,065)	0
Purchase of corporate furniture, fixtures and equipment	(3,655)	(3,621)	(3,457)
Net cash used in investing activities	(31,556)	(239,455)	(429,235)
Financing activities
Proceeds from unsecured notes	0	399,244	399,444
Proceeds from sale of common stock	816,065	216,666	89,317
Offering costs	(32,923)	(3,250)	(1,340)
Pay-off of mortgage and construction loans	(374,971)	(263,361)	(178,002)
Pay-off of unsecured term loans	(600,000)	0	0
Proceeds from unsecured term loans	150,000	0	0
Proceeds from revolving credit facility	376,000	720,200	615,900
Paydowns of revolving credit facility	(345,600)	(893,800)	(611,850)
Proceeds from construction loans	4,454	258	28,109
Scheduled principal payments on debt	(15,120)	(14,450)	(16,015)
Defeasance costs of early extinguishment of debt	(23,827)	(1,770)	0
Debt issuance and assumption costs	(831)	(4,330)	(5,021)
Termination of interest rate swaps	(108)	0	(4,122)
Taxes paid on net-share settlements	(2,977)	(2,800)	(2,345)
Distributions to common and restricted stockholders	(218,697)	(178,506)	(158,487)
Distributions to noncontrolling partners	(2,517)	(2,964)	(2,285)
Redemption of common units for cash	0	(3,871)	0
Net cash (used in) provided by financing activities	(271,052)	(32,734)	153,303
Net change in cash and cash equivalents	5,481	(8,403)	(13,689)
Cash and cash equivalents at beginning of period	16,659	25,062	38,751
Cash and cash equivalents at end of period	22,140	16,659	25,062
Supplemental disclosure of non-cash investing and financing activities
Loans assumed in connection with property acquisitions	0	(69,423)	0
Issuance of common units in connection with property acquisitions	0	(14,182)	0
Conversion of common and preferred operating partnership units to common stock	11,292	3,036	602
Change in accrued construction in progress	20,734	5,720	3,996
Change in fair value of redeemable noncontrolling interests	1,150	(170)	(740)
Change in fair value of redeemable noncontrolling interests	(7,937)	4,462	(8,200)
Supplemental disclosure of cash flow information
Interest paid	92,502	89,336	113,251
Income taxes paid	1,094	1,078	1,066
Wholly owned properties
Investing activities
Capital expenditures for wholly-owned/on-campus participating properties under development	(61,587)	(96,832)	(77,072)
Investments in wholly-owned properties under development	(424,139)	(219,636)	(257,177)
On-campus participating properties
Investing activities
Capital expenditures for wholly-owned/on-campus participating properties under development	(2,944)	(2,943)	(1,953)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Operating activities
Net income	100,623	118,061	64,104
Adjustments to reconcile net income to net cash provided by operating activities:
Gain from disposition of real estate	(21,197)	(52,699)	(2,475)
Gain from insurance settlement	0	(388)	(186)
Loss from early extinguishment of debt	12,841	1,770	0
Provision for real estate impairment	4,895	0	2,443
Depreciation and amortization	211,387	208,788	197,542
Amortization of deferred financing costs and debt premiums/discounts	(5,145)	(6,280)	(6,769)
Share-based compensation	10,043	8,161	7,164
Income tax provision	1,150	1,242	1,308
Amortization of interest rate swap terminations and other	613	412	222
Changes in operating assets and liabilities:
Restricted cash	2,032	1,656	1,507
Student contracts receivable, net	8,709	(9,397)	(959)
Other assets	(15,905)	(23,475)	(12,632)
Accounts payable and accrued expenses	(83)	(1,201)	3,798
Other liabilities	(1,874)	17,136	7,176
Net cash provided by operating activities	308,089	263,786	262,243
Investing activities
Proceeds from disposition of properties and land parcels	571,424	427,304	10,101
Cash paid for property acquisitions	(102,804)	(291,352)	(74,641)
Cash paid for land acquisitions	(856)	(49,927)	(3,627)
Investment in direct financing lease, net	(6,650)	0	0
Investment in loans receivable	0	(5,176)	0
Proceeds from loans receivable	0	7,483	2,984
Change in restricted cash related to capital reserves	1,918	2,955	1,623
Decrease (increase) in escrow deposits for real estate investments	4,991	(7,033)	894
Proceeds from insurance settlement	0	388	758
Increase in ownership of consolidated subsidiary	(7,254)	(1,065)	0
Purchase of corporate furniture, fixtures and equipment	(3,655)	(3,621)	(3,457)
Net cash used in investing activities	(31,556)	(239,455)	(429,235)
Financing activities
Proceeds from unsecured notes	0	399,244	399,444
Proceeds from issuance of common units in exchange for contributions, net	783,142	213,416	87,977
Pay-off of mortgage and construction loans	(374,971)	(263,361)	(178,002)
Pay-off of unsecured term loans	(600,000)	0	0
Proceeds from unsecured term loans	150,000	0	0
Proceeds from revolving credit facility	376,000	720,200	615,900
Paydowns of revolving credit facility	(345,600)	(893,800)	(611,850)
Proceeds from construction loans	4,454	258	28,109
Scheduled principal payments on debt	(15,120)	(14,450)	(16,015)
Defeasance costs of early extinguishment of debt	(23,827)	(1,770)	0
Debt issuance and assumption costs	(831)	(4,330)	(5,021)
Termination of interest rate swaps	(108)	0	(4,122)
Taxes paid on net-share settlements	(2,977)	(2,800)	(2,345)
Redemption of common units for cash	0	(3,871)	0
Net cash (used in) provided by financing activities	(271,052)	(32,734)	153,303
Net change in cash and cash equivalents	5,481	(8,403)	(13,689)
Cash and cash equivalents at beginning of period	16,659	25,062	38,751
Cash and cash equivalents at end of period	22,140	16,659	25,062
Supplemental disclosure of non-cash investing and financing activities
Loans assumed in connection with property acquisitions	0	(69,423)	0
Issuance of common units in connection with property acquisitions	0	(14,182)	0
Change in fair value of redeemable noncontrolling interests	1,150	(170)	(740)
Change in fair value of redeemable noncontrolling interests	(7,937)	4,462	(8,200)
Supplemental disclosure of cash flow information
Interest paid	92,502	89,336	113,251
Income taxes paid	1,094	1,078	1,066
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Unvested Restricted Awards
Financing activities
Distributions paid	(1,338)	(1,086)	(1,076)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Common and preferred units
Financing activities
Distributions paid	(219,500)	(179,749)	(159,409)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Partially-owned properties
Financing activities
Distributions paid	(376)	(635)	(287)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Wholly owned properties
Investing activities
Capital expenditures for wholly-owned/on-campus participating properties under development	(61,587)	(96,832)	(77,072)
Investments in wholly-owned properties under development	(424,139)	(219,636)	(257,177)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | On-campus participating properties
Investing activities
Capital expenditures for wholly-owned/on-campus participating properties under development	(2,944)	(2,943)	(1,953)
Investment in on-campus participating property under development	$ 0	$ 0	$ (27,668)

Organization and Description of

Organization and Description of Business	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business American Campus Communities, Inc. (“ACC”) is a real estate investment trust (“REIT”) that commenced operations effective with the completion of an initial public offering (“IPO”) on August 17, 2004. Through ACC’s controlling interest in American Campus Communities Operating Partnership, L.P. (“ACCOP”), ACC is one of the largest owners, managers and developers of high quality student housing properties in the United States in terms of beds owned and under management. ACC is a fully integrated, self-managed and self-administered equity REIT with expertise in the acquisition, design, financing, development, construction management, leasing and management of student housing properties. ACC’s common stock is publicly traded on the New York Stock Exchange (“NYSE”) under the ticker symbol “ACC.” The general partner of ACCOP is American Campus Communities Holdings, LLC (“ACC Holdings”), an entity that is wholly-owned by ACC. As of December 31, 2016 , ACC Holdings held an ownership interest in ACCOP of less than 1% . The limited partners of ACCOP are ACC and other limited partners consisting of current and former members of management and nonaffiliated third parties. As of December 31, 2016 , ACC owned an approximate 99.2% limited partnership interest in ACCOP. As the sole member of the general partner of ACCOP, ACC has exclusive control of ACCOP’s day-to-day management. Management operates ACC and ACCOP as one business. The management of ACC consists of the same members as the management of ACCOP. ACC consolidates ACCOP for financial reporting purposes, and ACC does not have significant assets other than its investment in ACCOP. Therefore, the assets and liabilities of ACC and ACCOP are the same on their respective financial statements. References to the “Company” means collectively ACC, ACCOP and those entities/subsidiaries owned or controlled by ACC and/or ACCOP. References to the “Operating Partnership” mean collectively ACCOP and those entities/subsidiaries owned or controlled by ACCOP. Unless otherwise indicated, the accompanying Notes to the Consolidated Financial Statements apply to both the Company and the Operating Partnership. As of December 31, 2016 , the Company's property portfolio contained 154 properties with approximately 95,200 beds. The Company's property portfolio consisted of 121 owned off-campus student housing properties that are in close proximity to colleges and universities, 28 American Campus Equity (“ACE®”) properties operated under ground/facility leases with thirteen university systems and five on-campus participating properties operated under ground/facility leases with the related university systems. Of the 154 properties, fourteen were under development as of December 31, 2016 , and when completed will consist of a total of approximately 10,800 beds. Our communities contain modern housing units and are supported by a resident assistant system and other student-oriented programming, with many offering resort-style amenities. Through one of ACC’s taxable REIT subsidiaries (“TRSs”), the Company also provides construction management and development services, primarily for student housing properties owned by colleges and universities, charitable foundations, and others. As of December 31, 2016 , also through one of ACC’s TRSs, the Company provided third-party management and leasing services for 49 properties that represented approximately 36,800 beds. Third-party management and leasing services are typically provided pursuant to management contracts that have initial terms that range from one to five years. As of December 31, 2016 , the Company's total owned and third-party managed portfolio included 203 properties with approximately 132,000 beds.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements, presented in U.S. dollars, are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements, and revenue and expenses during the reporting periods. The Company's actual results could differ from those estimates and assumptions. All material intercompany transactions among consolidated entities have been eliminated. All dollar amounts in the tables herein, except share, per share, unit and per unit amounts, are stated in thousands unless otherwise indicated. Recently Issued Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2017-1 (“ASU 2017-1”), “Business Combinations: Clarifying the Definition of a Business.” The amendments in this guidance clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The guidance is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted only for previously unreported transactions. The Company plans to adopt ASU 2017-1 as of January 1, 2017 and expects that most property acquisitions will be accounted for as asset acquisitions, and as a result, most transaction costs will be capitalized rather than expensed. In November 2016, the FASB issued Accounting Standards Update 2016-18 (“ASU 2016-18”), “Statement of Cash Flows: Restricted Cash.” The amendments in this update require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The guidance is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing whether ASU 2016-18 will have a material effect on its consolidated statements of cash flows. In August 2016, the FASB issued Accounting Standards Update 2016-15 (“ASU 2016-15”), “Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments.” The amendments in this update provide guidance on eight specific cash flow issues where there is diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing whether ASU 2016-15 will have a material effect on its consolidated statements of cash flows. In June 2016, the FASB issued Accounting Standards Update 2016-13 (“ASU 2016-13”), “Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments.” The standard requires entities to estimate a lifetime expected credit loss for most financial assets, including trade and other receivables, held-to-maturity debt securities, loans and other financial instruments, and to present the net amount of the financial instrument expected to be collected. The guidance is effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption for the fiscal years beginning after December 15, 2018 is permitted. The Company is currently assessing whether ASU 2016-13 will have a material effect on its consolidated financial statements and related disclosures. In March 2016, the FASB issued Accounting Standards Update 2016-05 (“ASU 2016-05”), “Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.” The amendments in this guidance clarify that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The Company plans to adopt ASU 2016-05 as of January 1, 2017 and does not expect it to have a material impact on its consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update 2016-02 (“ASU 2016-02”), “Leases: Amendments to the FASB Accounting Standards Codification.” ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. With the adoption of ASU 2016-02, certain executory costs, recoveries and other components of revenue currently accounted for as lease components could be considered non-lease components subject to ASU 2014-09. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance is effective for public business entities for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. The Company plans to adopt ASU 2016-02 as of January 1, 2019. While the Company is still evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures, it expects to recognize right-of-use assets and related lease liabilities on its consolidated balance sheets related to ground leases under which it is the lessee. In May 2014, the FASB issued Accounting Standards Update 2014-09 (“ASU 2014-09”), “Revenue From Contracts With Customers”. ASU 2014-09 provides a single comprehensive revenue recognition model for contracts with customers (excluding certain contracts, such as lease contracts) to improve comparability within industries. ASU 2014-09 requires an entity to recognize revenue to reflect the transfer of goods or services to customers at an amount the entity expects to be paid in exchange for those goods and services and provide enhanced disclosures, all to provide more comprehensive guidance for transactions such as service revenue and contract modifications. Subsequent to the issuance of ASU 2014-09, the FASB has issued multiple Accounting Standards Updates clarifying multiple aspects of the new revenue recognition standard, which include the deferral of the effective date by one year, and additional guidance for partial sales of non-financial assets. ASU 2014-09, as amended by subsequent Accounting Standards Updates, is effective for public entities for interim and annual periods beginning after December 15, 2017 and may be applied using either a full retrospective or modified retrospective approach upon adoption. The Company is currently evaluating each of its revenue streams to identify any differences in the timing, measurement or presentation of revenue recognition under the new standard, as well as evaluating methods of adoption. The Company does not expect the adoption of this standard to have a significant impact on its consolidated financial statements, as a substantial portion of its revenue consists of rental income from leasing arrangements, which is specifically excluded from ASU 2014-09, and will be evaluated with the adoption of the lease accounting standard, ASU 2016-02, discussed above. Additionally, the Company currently does not anticipate a material impact to its consolidated financial statements for property dispositions given the simplicity of the Company’s historical disposition transactions. The Company anticipates the primary effects of the new standard will be associated with the Company’s non-leasing revenue streams, which represent less than 5% of consolidated total revenues. Recently Adopted Accounting Pronouncements In March 2016, the FASB issued Accounting Standards Update 2016-09 (“ASU 2016-09”), “Improvements to Employee Share-Based Payment Accounting.” The updated guidance changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. The Company adopted ASU 2016-09 as of January 1, 2016. ASU 2016-09 did not have a material impact on the Company's consolidated financial statements. Refer to the accompanying consolidated statements of cash flows for details on the impact of the reclassification of taxes paid on net-share settlements from operating to financing activities. On January 1, 2016, the Company adopted Accounting Standards Update 2015-16 (“ASU 2015-16”), “Simplifying the Accounting for Measurement-Period Adjustments.” Under the new guidance, the Company will no longer recognize a measurement-period adjustment retroactively in a business combination. Instead, measurement-period adjustments will be recognized during the period in which the amount of the adjustment is determined. The adoption of ASU 2015-16 did not have a material impact on the Company’s consolidated financial statements. On January 1, 2016, the Company adopted Accounting Standards Update 2015-03 (“ASU 2015-03”), “Simplifying the Presentation of Debt Issuance Costs.” The impact of adopting ASU 2015-03 on the Company’s consolidated financial statements was the reclassification of deferred financing costs previously included in “other assets” to “secured mortgage, construction and bond debt”, “unsecured notes” and “unsecured term loans” within its consolidated balance sheets for all periods presented (see Note 10 ). Other than these reclassifications, the adoption of ASU 2015-03 did not have an impact on the Company’s consolidated financial statements. On January 1, 2016, the Company adopted Accounting Standards Update 2015-02 (“ASU 2015-02”), “Amendments to the Consolidation Analysis.” The new guidance changed the analysis a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The guidance did not amend the existing disclosure requirements for Variable Interest Entities (“VIEs”) or voting interest model entities. The guidance, however, modified the requirements to qualify under the voting interest model and eliminated the presumption that a general partner should consolidate a limited partnership. Under the revised guidance, ACCOP was determined to be a VIE. As ACCOP was already included in the consolidated financial statements of the Company, the identification of this entity as a VIE had no impact on its consolidated financial statements. There were no other legal entities qualifying under the scope of the revised guidance that were consolidated as a result of the adoption of this guidance. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Investments in Real Estate Investments in real estate are recorded at historical cost. Major improvements that extend the life of an asset are capitalized and depreciated over the remaining useful life of the asset. The cost of ordinary repairs and maintenance are charged to expense when incurred. Depreciation and amortization are recorded on a straight-line basis over the estimated useful lives of the assets as follows: Buildings and improvements 7-40 years Leasehold interest - on-campus participating properties 25-34 years (shorter of useful life or respective lease term) Furniture, fixtures and equipment 3-7 years Project costs directly associated with the development and construction of an owned real estate project, which include interest, property taxes, and amortization of deferred finance costs, are capitalized as construction in progress. Upon completion of the project, costs are transferred into the applicable asset category and depreciation commences. Interest totaling approximately $12.3 million , $9.6 million and $8.8 million was capitalized during the years ended December 31, 2016 , 2015 and 2014 , respectively. Management assesses whether there has been an impairment in the value of the Company’s investments in real estate whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment is recognized when estimated expected future undiscounted cash flows are less than the carrying value of the property, or when a property meets the criteria to be classified as held for sale, at which time an impairment charge is recognized for any excess of the carrying value of the property over the expected net proceeds from the disposal. The estimation of expected future net cash flows is inherently uncertain and relies on assumptions regarding current and future economics and market conditions. If such conditions change, then an adjustment to the carrying value of the Company’s long-lived assets could occur in the future period in which the conditions change. To the extent that a property is impaired, the excess of the carrying amount of the property over its estimated fair value is charged to earnings. The Company believes that there were no impairments of the carrying values of its investments in real estate as of December 31, 2016 , other than an impairment charge recorded for one property classified as held for sale as of December 31, 2016 (see Note 6 ). The Company allocates the purchase price of acquired properties to net tangible and identified intangible assets based on relative fair values. Fair value estimates are based on information obtained from a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property, the Company's own analysis of recently acquired and existing comparable properties in the Company's portfolio, and other market data. Information obtained about each property as a result of due diligence, marketing and leasing activities is also considered. The value allocated to land is generally based on the actual purchase price if acquired separately, or market research/comparables if acquired as part of an existing operating property. The value allocated to building is based on the fair value determined on an “as-if vacant” basis, which is estimated using a replacement cost approach that relies upon assumptions that the Company believes are consistent with current market conditions for similar properties. The value allocated to furniture, fixtures, and equipment is based on an estimate of the fair value of the appliances and fixtures inside the units. The Company has determined these estimates to have been primarily based upon unobservable inputs and therefore are considered to be Level 3 inputs within the fair value hierarchy. The Company records the acquisition of undeveloped land parcels and properties under development that do not meet the accounting criteria to be accounted for as business combinations at the purchase price paid and capitalizes the associated acquisition costs. Long-Lived Assets–Held for Sale Long-lived assets to be disposed of are classified as held for sale in the period in which all of the following criteria are met: a. Management, having the authority to approve the action, commits to a plan to sell the asset. b. The asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets. c. An active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated. d. The sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale, within one year. e. The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value. f. Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Concurrent with this classification, the asset is recorded at the lower of cost or fair value less estimated selling costs, and depreciation ceases. As discussed in more detail in Note 6 , concurrent with the classification of one of the Company's wholly-owned properties as held for sale, the Company reduced the property's carrying amount to its estimated fair value less estimated selling costs which resulted in an impairment charge. Discontinued Operations A discontinued operation represents (i) a component of an entity or group of components that has been disposed of or is classified as held for sale in a single transaction and represents a strategic shift that has or will have a major effect on an entity's operations and financial results; or (ii) an acquired business that is classified as held for sale on the date of acquisition. A strategic shift could include a disposal of (i) a separate major line of business; (ii) a separate major geographic area of operations; (iii) a major equity method investment; or (iv) other major parts of an entity. The Company classifies disposals of real estate that do not meet the definition of a discontinued operation within income from continuing operations in the accompanying consolidated statements of comprehensive income. Owned On-Campus Properties Under its ACE program, the Company, as lessee, has entered into ground/facility lease agreements with thirteen university systems to finance, construct, and manage 28 student housing properties. Six properties were under construction as of December 31, 2016 with three scheduled to open for occupancy in Fall 2017 and three in Fall 2018. The terms of the leases, including extension options, range from 30 to 90 years, and the lessor has title to the land and generally any improvements placed thereon. The Company’s involvement in construction requires the lessor’s post construction ownership of the improvements to be treated as a sale with a subsequent leaseback by the Company. However, these sale-leaseback transactions do not qualify for sale-leaseback accounting because of the Company’s continuing involvement in the constructed assets. As a result of the Company’s continuing involvement, these leases are accounted for by the deposit method, in which the assets subject to the ground/facility leases are reflected at historical cost, less amortization, and the financing obligations are reflected at the terms of the underlying financing. On-Campus Participating Properties The Company has entered into ground and facility leases with three university systems and colleges to finance, construct, and manage five on-campus student housing facilities. Under the terms of the leases, the lessor has title to the land and any improvements placed thereon. With the exception of the Company's lease with West Virginia University, each lease terminates upon final repayment of the construction related financing, the amortization period of which is contractually stipulated. The Company’s involvement in construction requires the lessor’s post construction ownership of the improvements to be treated as a sale with a subsequent leaseback by the Company. The sale-leaseback transaction has been accounted for as a financing, and as a result, any fee earned during construction is deferred and recognized over the term of the lease. The resulting financing obligation is reflected at the terms of the underlying financing, i.e., interest is accrued at the contractual rates and principal reduces in accordance with the contractual principal repayment schedules. The entities that own the on-campus participating properties are determined to be VIEs, with the Company being the primary beneficiary. As such, the Company consolidates these properties for financial reporting purposes. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company maintains cash balances in various banks. At times, the Company’s balances may exceed the amount insured by the FDIC. As the Company only uses money-centered financial institutions, the Company does not believe it is exposed to any significant credit risk related to its cash and cash equivalents. Restricted Cash Restricted cash consists of funds held in trust and invested in low risk investments, generally consisting of government backed securities, as permitted by the indentures of trusts, which were established in connection with three bond issues for the Company's on-campus participating properties. Additionally, restricted cash includes escrow accounts held by lenders and resident security deposits, as required by law in certain states. Restricted cash also consists of escrow deposits made in connection with potential property acquisitions and development opportunities. These escrow deposits are invested in interest-bearing accounts at federally-insured banks. Realized and unrealized gains and losses are not material for the periods presented. Loans Receivable Loans held for investment are intended to be held to maturity and, accordingly, are carried at cost, net of unamortized loan purchase discounts, and net of an allowance for loan losses when such loan is deemed to be impaired. Loan purchase discounts are amortized over the term of the loan. The unamortized discount on the loans receivable was $2.8 million and $3.0 million as of December 31, 2016 and 2015 , respectively. The Company considers a loan impaired when, based upon current information and events, it is probable that it will be unable to collect all amounts due for both principal and interest according to the contractual terms of the loan agreement. Management’s estimate of the collectability of principal and interest payments under the Company’s loans receivable from CaPFA Capital Corp. 2000F (“CaPFA”), which mature in December 2040 and carry a balance, net of discount, of approximately $58.5 million and $57.2 million as of December 31, 2016 and 2015 , respectively, are highly dependent on the future operating performance of the properties securing the loans. As future economic conditions and/or market conditions at the properties change, management will continue to evaluate the collectability of such amounts. The Company believes there were no impairments of the carrying value of its loans receivable as of December 31, 2016 . Loans receivable are included in other assets on the accompanying consolidated balance sheets. Intangible Assets A portion of the purchase price of acquired properties is allocated to the value of in-place leases for both student and commercial tenants, which is based on the difference between (i) the property valued with existing in-place leases adjusted to market rental rates and (ii) the property valued “as-if” vacant. As lease terms for student leases are typically one year or less, rates on in-place leases generally approximate market rental rates. Factors considered in the valuation of in-place leases include an estimate of the carrying costs during the expected lease-up period considering current market conditions, nature of the tenancy, and costs to execute similar leases. Carrying costs include estimates of lost rentals at market rates during the expected lease-up period, as well as marketing and other operating expenses. The value of in-place leases is amortized over the remaining initial term of the respective leases. The purchase price of property acquisitions is not allocated to student tenant relationships, considering the terms of the leases and the expected levels of renewals. In connection with the property acquisitions discussed in Note 5 herein, the Company capitalized approximately $0.6 million , $3.3 million and $0.9 million for the years December 31, 2016 , 2015 and 2014 , respectively, related to management’s estimate of the fair value of in-place leases assumed. The net carrying amount of in-place leases at December 31, 2016 and 2015 was approximately $1.3 million and $1.6 million , respectively, and is included in other assets on the accompanying consolidated balance sheets. Amortization expense was approximately $0.9 million , $3.7 million and $2.4 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, and is included in depreciation and amortization expense in the accompanying consolidated statements of comprehensive income. As of December 31, 2016 , the remaining weighted average student and commercial in-place lease term was 6.1 years . See Note 5 herein for an expanded discussion of the property acquisitions completed during 2016 , 2015 and 2014 . For acquired properties subject to an in-place property tax incentive arrangement, a portion of the purchase price is allocated to the present value of expected future property tax savings over the projected incentive arrangement period. In connection with the property acquisitions discussed in Note 5 herein, the Company capitalized approximately $3.6 million , $13.7 million and $2.5 million for the years December 31, 2016 , 2015 and 2014 , respectively, related to management’s estimate of the fair value of in-place property tax incentive arrangements assumed. Unamortized in-place property tax incentive arrangements as of December 31, 2016 and 2015 were approximately $55.1 million and $56.8 million , respectively, and are included in other assets on the accompanying consolidated balance sheets. Amortization expense was approximately $2.9 million , $2.8 million and $1.3 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, and is included in wholly-owned properties operating expense in the accompanying consolidated statements of comprehensive income. As of December 31, 2016 , the remaining weighted average tax incentive arrangement period was 20.8 years . See Note 5 herein for an expanded discussion of the property acquisitions completed during 2016 , 2015 and 2014 . Deferred Financing Costs The Company defers financing costs and amortizes the costs over the terms of the related debt using the effective-interest method. Upon repayment of or in conjunction with a material change in the terms of the underlying debt agreement, any unamortized costs are charged to earnings. In those instances when debt modifications do not include material changes to the terms of the underlying debt agreement, unamortized costs of the original instrument are added to the costs of the modification and amortized over the life of the modified debt using the effective interest method. Deferred financing costs, net of amortization, for the Company's revolving credit facility are included in other assets on the accompanying consolidated balance sheets. Net deferred financing costs for the Company's revolving credit facility at December 31, 2016 and 2015 were approximately $1.4 million and $2.7 million , respectively. On January 1, 2016, the Company adopted ASU 2015-03, as discussed above, and as a result, deferred financing costs associated with secured mortgage, construction and bond debt, unsecured notes, and unsecured term loans are presented as a direct reduction to the carrying value of the debt (see Note 10 ). Joint Ventures The Company holds interests in both consolidated and unconsolidated joint ventures. The Company consolidates joint ventures when it exhibits financial or operational control, which is determined using accounting standards related to the consolidation of joint ventures and VIEs. For joint ventures that are defined as VIEs, the primary beneficiary consolidates the entity. The Company considers itself to be the primary beneficiary of a VIE when it has the power to direct the activities that most significantly impact the performance of the VIE, such as management of day-to-day operations, preparing and approving operating and capital budgets, and encumbering or selling the related properties. In instances where the Company is not the primary beneficiary, it does not consolidate the joint venture for financial reporting purposes. For joint ventures that are not defined as VIEs, where the Company is the general partner, but does not control the joint venture as the other partners hold substantive participating rights, the Company uses the equity method of accounting. For joint ventures where the Company is a limited partner, management evaluates whether the Company holds substantive participating rights. In instances where the Company holds substantive participating rights in the joint venture, the Company consolidates the joint venture; otherwise it uses the equity method of accounting. Mortgage Debt - Premiums and Discounts Mortgage debt premiums and discounts represent fair value adjustments to account for the difference between the stated rates and market rates of mortgage debt assumed in connection with the Company’s property acquisitions. The mortgage debt premiums and discounts are included in secured mortgage, construction, and bond debt on the accompanying consolidated balance sheets and are amortized to interest expense over the term of the related mortgage loans using the effective-interest method. The amortization of mortgage debt premiums and discounts resulted in a net decrease to interest expense of approximately $12.0 million , $12.0 million and $12.9 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. As of December 31, 2016 and 2015 , net unamortized mortgage debt premiums were approximately $26.8 million and $50.8 million , respectively. The Company did not have any unamortized debt discounts as of December 31, 2016 and net unamortized mortgage debt discounts were approximately $0.2 million as of December 31, 2015 . Unsecured Notes - Original Issue Discount The Company has completed three offerings of senior unsecured notes totaling $1.2 billion that are detailed in Note 10 herein. The total unamortized original issue discount was approximately $1.9 million and $2.2 million as of December 31, 2016 and 2015 , respectively, and is included in unsecured notes on the accompanying consolidated balance sheets. Amortization of the original issue discounts of approximately $0.3 million , $0.2 million , and $0.1 million for the years ended December 31, 2016 , 2015 , and 2014 , respectively, is included in interest expense on the accompanying consolidated statements of comprehensive income. Rental Revenues and Related Receivables Students are required to execute lease contracts with payment schedules that vary from single to monthly payments. Receivables are recorded when billed, revenues and related lease incentives are recognized on a straight-line basis over the term of the contracts, and balances are considered past due when payment is not received on the contractual due date. The Company generally requires each executed contract to be accompanied by a signed parental guaranty, and in certain cases a refundable security deposit. Security deposits are refundable, net of any outstanding charges, upon expiration of the underlying contract. Allowances for receivables are established when management determines that collection of such receivables is doubtful. Management's determination of the adequacy of the allowances is based primarily on an analysis of the aging of receivables, historical bad debts, and current economic trends. When management has determined receivables to be uncollectible, which is typically after two years, they are removed as

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Earnings Per Share – Company Basic earnings per share is computed using net income attributable to common shareholders and the weighted average number of shares of the Company’s common stock outstanding during the period. Diluted earnings per share reflects common shares issuable from the assumed conversion of American Campus Communities Operating Partnership Units (“OP Units”) and common share awards granted. Only those items having a dilutive impact on basic earnings per share are included in diluted earnings per share. The following potentially dilutive securities were outstanding for the years ended December 31, 2016 , 2015 and 2014 , but were not included in the computation of diluted earnings per share because the effects of their inclusion would be anti-dilutive. Year Ended December 31, 2016 2015 2014 Common OP Units (Note 9) 1,231,500 — 1,213,509 Preferred OP Units (Note 9) 90,763 109,775 111,279 Total potentially dilutive securities 1,322,263 109,775 1,324,788 The following is a summary of the elements used in calculating basic and diluted earnings per share: Year Ended December 31, 2016 2015 2014 Numerator - basic earnings per share: Income from continuing operations $ 100,623 $ 118,061 $ 61,384 Income from continuing operations attributable to noncontrolling interests (1,562 ) (2,070 ) (1,231 ) Income from continuing operations attributable to common stockholders 99,061 115,991 60,153 Amount allocated to participating securities (1,338 ) (1,086 ) (1,076 ) Income from continuing operations attributable to common stockholders, net of amount allocated to participating securities 97,723 114,905 59,077 Income from discontinued operations — — 2,720 Income from discontinued operations attributable to noncontrolling interests — — (34 ) Income from discontinued operations attributable to common stockholders — — 2,686 Net income attributable to common stockholders - basic $ 97,723 $ 114,905 $ 61,763 Numerator - diluted earnings per share: Net income attributable to common stockholders - basic $ 97,723 $ 114,905 $ 61,763 Income allocated to Common OP Units — 1,282 — Net income attributable to common stockholders - diluted $ 97,723 $ 116,187 $ 61,763 Denominator: Basic weighted average common shares outstanding 129,228,748 111,987,361 105,032,155 Unvested Restricted Stock Awards (Note 12) 789,981 680,980 679,265 Common OP Units (Note 9) — 1,363,881 — Diluted weighted average common shares outstanding 130,018,729 114,032,222 105,711,420 Year Ended December 31, 2016 2015 2014 Earnings per share – basic: Income from continuing operations attributable to common stockholders, net of amount allocated to participating securities $ 0.76 $ 1.03 $ 0.56 Income from discontinued operations attributable to common stockholders $ — $ — $ 0.03 Net income attributable to common stockholders $ 0.76 $ 1.03 $ 0.59 Earnings per share – diluted: Income from continuing operations attributable to common stockholders, net of amount allocated to participating securities $ 0.75 $ 1.02 $ 0.56 Income from discontinued operations attributable to common stockholders $ — $ — $ 0.02 Net income attributable to common stockholders $ 0.75 $ 1.02 $ 0.58 Earnings Per Unit – Operating Partnership Basic earnings per OP Unit is computed using net income attributable to common unitholders and the weighted average number of common units outstanding during the period. Diluted earnings per OP Unit reflects the potential dilution that could occur if securities or other contracts to issue OP Units were exercised or converted into OP Units or resulted in the issuance of OP Units and then shared in the earnings of the Operating Partnership. The following is a summary of the elements used in calculating basic and diluted earnings per unit: Year Ended December 31, 2016 2015 2014 Numerator - basic and diluted earnings per unit: Income from continuing operations $ 100,623 $ 118,061 $ 61,384 Income from continuing operations attributable to noncontrolling interests - partially owned properties (456 ) (612 ) (352 ) Income from continuing operations attributable to Series A preferred units (146 ) (176 ) (175 ) Amount allocated to participating securities (1,338 ) (1,086 ) (1,076 ) Income from continuing operations attributable to common unitholders, net of amount allocated to participating securities 98,683 116,187 59,781 Income from discontinued operations — — 2,720 Income from discontinued operations attributable to Series A preferred units — — (3 ) Income from discontinued operations attributable to common unitholders — — 2,717 Net income attributable to common unitholders $ 98,683 $ 116,187 $ 62,498 Denominator: Basic weighted average common units outstanding 130,460,248 113,351,242 106,245,664 Unvested Restricted Stock Awards (Note 12) 789,981 680,980 679,265 Diluted weighted average common units outstanding 131,250,229 114,032,222 106,924,929 Year Ended December 31, 2016 2015 2014 Earnings per unit – basic: Income from continuing operations attributable to common unitholders, net of amount allocated to participating securities $ 0.76 $ 1.03 $ 0.56 Income from discontinued operations attributable to common unitholders $ — $ — $ 0.03 Net income attributable to common unitholders $ 0.76 $ 1.03 $ 0.59 Earnings per unit – diluted: Income from continuing operations attributable to common unitholders, net of amount allocated to participating securities $ 0.75 $ 1.02 $ 0.56 Income from discontinued operations attributable to common unitholders $ — $ — $ 0.02 Net income attributable to common unitholders $ 0.75 $ 1.02 $ 0.58

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes As mentioned in Note 2 , the Company qualifies as a REIT under the Code. As a REIT, the Company is not subject to federal income tax as long as it distributes at least 90% of its taxable income to its shareholders each year. Therefore, no provision for federal income taxes for the REIT has been included in the accompanying consolidated financial statements. If the Company fails to qualify as a REIT, the Company will be subject to federal income tax (including any applicable alternative minimum tax) on its taxable income and to federal income and excise taxes on its undistributed income. In addition, ACCOP is a flow-through entity and is not subject to federal income taxes at the entity level. Historically, the Company has incurred only state and local income, franchise and margin taxes. The Company’s TRSs are subject to federal, state, and local income taxes. As such, deferred income taxes result from temporary differences between the carrying amounts of assets and liabilities of the TRSs for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are measured using enacted tax rates in effect in the years in which those temporary differences are expected to reverse. Significant components of the deferred tax assets and liabilities of the TRSs are as follows: December 31, 2016 2015 Deferred tax assets: Fixed and intangible assets $ 2,074 $ 2,663 Net operating loss carryforwards 9,492 7,887 Prepaid and deferred income 2,417 2,326 Bad debt reserves 754 725 Accrued expenses and other 5,251 4,578 Stock compensation 2,866 2,454 Total deferred tax assets 22,854 20,633 Valuation allowance for deferred tax assets (22,688 ) (20,431 ) Deferred tax assets, net of valuation allowance 166 202 Deferred tax liability: Deferred financing costs 166 202 Net deferred tax liabilities $ — $ — Significant components of the Company’s income tax provision are as follows: Year Ended December 31, 2016 2015 2014 Current: Federal $ — $ — $ — State (1,150 ) (1,242 ) (1,308 ) Deferred: Federal — — — State — — — Total provision - continuing operations $ (1,150 ) $ (1,242 ) $ (1,308 ) TRS earnings subject to tax consisted of losses of approximately $3.8 million , $3.3 million and $3.2 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The reconciliation of income tax attributable to continuing operations for the TRSs computed at the U.S. statutory rate to income tax provision is as follows: Year Ended December 31, 2016 2015 2014 Tax benefit at U.S. statutory rates on TRS income subject to tax $ 2,303 $ 2,019 $ 1,928 State income tax, net of federal income tax benefit 85 74 71 Effect of permanent differences and other (88 ) (77 ) (72 ) Increase in valuation allowance (2,300 ) (2,016 ) (1,927 ) TRS income tax provision $ — $ — $ — At December 31, 2016 , the TRSs had net operating loss carryforwards (“NOLs”) of approximately $29.8 million for income tax purposes that begin to expire in 2026. These NOLs may be used to offset future taxable income generated by each of the respective TRSs. Due to the various limitations to which the use of NOLs are subject, the Company has applied a valuation allowance to the NOLs given the likelihood that the NOLs will expire unused. Of the NOLs, approximately $3.7 million may be credited directly to additional paid in capital should subsequent tax benefits be recognized. The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states’ jurisdictions as required, and as of December 31, 2016 , the 2015 , 2014 and 2013 calendar tax years are subject to examination by the tax authorities. The Company had no material unrecognized tax benefits for the years ended December 31, 2016 , the 2015 , and 2014 , and as of December 31, 2016 , the Company does not expect to record any material unrecognized tax benefits. Because no material unrecognized tax benefits have been recorded, no related interest or penalties have been calculated. A schedule of per share distributions the Company paid and reported to its shareholders, which is unaudited, is set forth in the following table: Year Ended December 31, Tax Treatment of Distributions: 2016 2015 2014 Ordinary income $ 0.3541 $ 0.4658 $ 0.9016 Long-term capital gain (1) 0.5145 0.5301 0.0107 Return of capital 0.7914 0.5841 0.5877 Total per common share outstanding $ 1.6600 $ 1.5800 $ 1.5000 (1) Unrecaptured Sec. 1250 gains of $0.5383 , $0.5281 and $0.0248 were reported for the years ended December 31, 2016 , the 2015 , and 2014 , respectively.

Property Acquisitions

Property Acquisitions	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Property Acquisitions	Property Acquisitions Properties Under Development During the year ended December 31, 2016 , the Company secured the following in-process development properties for approximately $39.6 million . Total cash consideration of $40.7 million consisted of escrow deposits and cash paid at closing: Property Location Primary University Served Targeted Completion Date Acquisition Date Beds Callaway House Apartments Norman, OK University of Oklahoma August 2017 June 2016 915 U Centre on College Clemson, SC Clemson University August 2017 June 2016 418 1,333 Operating Properties During the year ended December 31, 2016 , the Company acquired two wholly-owned properties for approximately $63.1 million . Total cash consideration of $62.1 million consisted of escrow deposits and cash paid at closing: Property Location Primary University Served Acquisition Date Beds University Crossings Charlotte, NC University of North Carolina August 2016 546 U Point Syracuse, NY Syracuse University October 2016 163 709 Since their respective acquisition dates, the operating properties discussed above contributed a combined $1.9 million of revenues for the year ended December 31, 2016 . These properties had a combined net loss of $0.1 million for the year ended December 31, 2016 , which includes $0.3 million of acquisition-related costs such as broker fees, due diligence costs and legal and accounting fees that are included in wholly-owned properties operating expense on the accompanying consolidated statements of comprehensive income. During 2015 , the Company acquired eight wholly-owned properties containing 4,061 beds for a combined purchase price of approximately $378.3 million . As part of these transactions, the Company assumed approximately $69.4 million of mortgage debt and issued 343,895 Common OP Units, valued at $41.24 per unit. During 2014 , the Company acquired one property comprised of 610 beds located near the University of Georgia and a property containing a hotel near the University of Colorado campus. The existing hotel at the University of Colorado was demolished in the fourth quarter 2014 and a new 398 -bed student housing facility was constructed and opened for occupancy in August 2016. The total consideration for these two acquisitions was approximately $75.1 million . The following table summarizes the fair values of the assets acquired and liabilities assumed from the properties discussed above: 2016 2015 Assets acquired: Land $ 14,720 $ 26,766 Buildings and improvements 54,162 317,627 Furniture, fixtures and equipment 2,736 16,871 Construction in progress 27,806 — Intangible assets 4,442 16,976 Other assets — 3,117 Total assets acquired $ 103,866 $ 381,357 Liabilities assumed: Mortgage debt $ — $ (72,365 ) (1) Other liabilities (1,062 ) (3,457 ) Total liabilities assumed $ (1,062 ) $ (75,822 ) Net assets acquired $ 102,804 $ 305,535 (1) Balance includes $3.0 million in premiums recorded to reflect mortgage debt at acquisition date fair value. For the year ended December 31, 2016 , the difference between the contracted purchase price of $102.7 million reflected above and the net assets acquired of $102.8 million is due to other assets and liabilities that were not part of the contractual purchase price, but were acquired in the transactions, as well as transaction costs capitalized as part of the acquisition of two in-process development properties. For the year ended December 31, 2015 , the difference between the contracted purchase price of $378.3 million reflected above and the net assets acquired of $305.5 million represents mortgage debt, other assets and liabilities that were not part of the contractual purchase price, but were acquired in the transactions. Consideration paid consisted of $291.4 million in cash paid at closing and stock valued at $14.2 million . The acquired properties' results of operations have been included in the accompanying consolidated statements of comprehensive income since the respective acquisition closing dates, with the exception of properties under pre-sale agreements discussed below which were consolidated prior to their acquisition dates. The following pro forma information for the years ended December 31, 2016 , 2015 , and 2014 presents consolidated financial information for the Company as if the property acquisitions discussed above had occurred at the beginning of the earliest period presented. The unaudited pro forma information is provided for informational purposes only and is not indicative of results that would have occurred or which may occur in the future: Year Ended December 31, 2016 2015 2014 Total revenues $ 789,942 $ 769,797 $ 767,483 Net income attributable to common shareholders $ 99,941 $ 123,101 $ 69,374 Pre-sale Development Projects As part of its development strategy, the Company has entered into pre-sale agreements to purchase various properties. Under the terms of these agreements, the Company is obligated to purchase the property as long as certain construction completion deadlines and other closing conditions are met. The Company is typically responsible for leasing, management, and initial operations of the project while the third-party developer retains development risk during the construction period. The entity that owns the property is deemed to be a VIE, and the Company is deemed to be the primary beneficiary of the VIE. As such, upon execution of the purchase and sale agreement, the Company records the assets, liabilities and noncontrolling interest of the entity owning the property at fair value. During the year ended December 31, 2016 , the Company entered into a pre-sale agreement to purchase the following wholly-owned property under development. Total estimated development costs of approximately $42.6 million include the purchase price, elected upgrades, and capitalized transaction costs. Property Location Primary University Served Targeted Completion Date Beds The Edge at Stadium Centre Tallahassee, FL Florida State University August 2018 412 During 2015 , the Company entered into a pre-sale agreement to purchase The Court, a wholly-owned property under development for $26.5 million . The property opened for operations in August 2016. The closing of the transaction occurred in May 2016 and was accounted for as an increase in ownership of a consolidated subsidiary. The property opened for operations in August 2016. During 2013, the Company entered into a pre-sale agreement to purchase University Walk, a wholly-owned property under development. The property opened for operations in August 2014 and the closing of the transaction occurred in February 2015.

Property Dispositions and Disco

Property Dispositions and Discontinued Operations	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Property Dispositions and Discontinued Operations	Property Dispositions and Discontinued Operations Due to a change in accounting guidance adopted in 2014, property dispositions that do not represent a strategic shift in the Company’s operations no longer qualify as discontinued operations and are classified within income from continuing operations on the accompanying consolidated statements of comprehensive income for all periods presented. The operations for any properties sold during 2014 that were classified as held for sale as of December 31, 2013 were not subject to the new accounting guidance for discontinued operations and have been presented in discontinued operations in the accompanying consolidated statements of comprehensive income. The following wholly-owned property was classified as held for sale on the accompanying consolidated balance sheet as of December 31, 2016 : Property Location Primary University Served Beds The Province - Dayton Dayton, OH Wright State University 657 The property is included in the Company's wholly-owned property segment. Concurrent with the classification of this property as held for sale, the Company reduced the property's carrying amount to its estimated fair value less estimated selling costs which resulted in an impairment charge of $4.9 million . During the year ended December 31, 2016 , the Company sold the following wholly-owned properties for approximately $581.8 million , resulting in net proceeds of approximately $571.4 million . The combined net gain on these dispositions totaled approximately $21.2 million . Property Location Primary University Served Beds The Edge - Orlando Orlando, FL University of Central Florida 930 University Village - Sacramento Sacramento, CA California State Univ. - Sacramento 394 Abbott Place East Lansing, MI Michigan State University 654 Burbank Commons Baton Rouge, LA Louisiana State University 532 Campus Corner Bloomington, IA Indiana University 796 Campus Way Tuscaloosa, AL University of Alabama 680 Forest Village and Woodlake Columbia, MO University of Missouri 704 Garnet River Walk West Columbia, SC University of South Carolina 476 Grindstone Canyon Columbia, MO University of Missouri 384 Lions Crossing State College, PA Penn State University 696 Nittany Crossing State College, PA Penn State University 684 Pirates Place Townhomes Greenville, NC East Carolina University 528 The Centre Kalamazoo, MI Western Michigan University 700 The Cottages of Baton Rouge Baton Rouge, LA Louisiana State University 1,290 The Cottages of Columbia Columbia, MO University of Missouri 513 U Club Cottages Baton Rouge, LA Louisiana State University 308 University Club & The Grove (1) Tallahassee, FL Florida State University 736 University Crescent Baton Rouge, LA Louisiana State University 612 University Heights Birmingham, AL University of Alabama at Birmingham 528 University Manor Greenville, NC East Carolina University 600 University Oaks Columbia, SC University of South Carolina 662 13,407 (1) Consists of two phases that were previously counted separately in the Company's property portfolio numbers. In 2015, the Company sold 20 wholly-owned properties and two land parcels for a combined sales price of approximately $436.9 million , resulting in proceeds of approximately $427.3 million . The combined net gain on these dispositions of approximately $52.7 million is included in income from continuing operations on the accompanying consolidated statements of comprehensive income. In 2014, the Company sold one building containing 20 beds, a 480 -bed wholly-owned property and two land parcels for a combined sales price of approximately $9.9 million , resulting in net proceeds of approximately $8.8 million . Prior to the sale of the wholly-owned property, the Company recorded the property at the lower of cost or fair value less estimated selling costs, resulting in an impairment charge of approximately $2.4 million . The properties' operations along with the impairment charge and resulting loss on disposition of approximately $0.4 million are included within income from continuing operations on the accompanying consolidated statements of comprehensive income for the year ended December 31, 2014 . In 2014, the Company sold one property, which was classified as held for sale as of December 31, 2013 , containing 484 beds for a sales price of approximately $17.3 million , including the assumption of an existing $15.6 million mortgage loan by the purchaser, resulting in net proceeds of approximately $1.3 million . The resulting gain on disposition of approximately $2.8 million is included in discontinued operations on the accompanying consolidated statements of comprehensive income for the year ended December 31, 2014 . This property contributed $0.3 million of revenues, $0.2 million of operating expenses and $0.2 million of nonoperating expenses for a net loss of $0.1 million for the year ended December 31, 2014 .

Investments in Wholly-Owned Pro

Investments in Wholly-Owned Properties	12 Months Ended
	Dec. 31, 2016
Wholly owned properties
Real Estate Properties [Line Items]
Investments in Wholly-Owned Properties	Investments in Wholly-Owned Properties Wholly-owned properties consisted of the following: December 31, 2016 2015 Land (1) $ 568,266 $ 597,894 Buildings and improvements 5,065,137 5,235,033 Furniture, fixtures and equipment 303,240 311,696 Construction in progress 349,498 154,988 6,286,141 6,299,611 Less accumulated depreciation (859,127 ) (777,340 ) Wholly-owned properties, net (2) $ 5,427,014 $ 5,522,271 (1) The land balance above includes undeveloped land parcels with book values of approximately $38.5 million and $66.2 million as of December 31, 2016 and 2015 , respectively. It also includes land totaling approximately $61.2 million and $33.0 million as of December 31, 2016 and 2015 , respectively, related to properties under development. (2) Excludes the net book value of properties classified as held for sale in the accompanying consolidated balance sheet (see Note 6 ).

On-Campus Participating Propert

On-Campus Participating Properties	12 Months Ended
	Dec. 31, 2016
On-campus participating properties, net
Real Estate Properties [Line Items]
On-Campus Participating Properties	On-Campus Participating Properties The Company is a party to ground/facility lease agreements (“Leases”) with three university systems (each, a “Lessor”) for the purpose of developing, constructing, and operating student housing facilities on university campuses. Under the terms of the Leases, title to the constructed facilities is held by the applicable Lessor and such Lessor receives a de minimis base rent paid at inception and 50% of defined net cash flows on an annual basis through the term of the lease. The Leases with the Texas A&M University and University of Houston systems terminate upon the earlier to occur of the final repayment of the related debt, the amortization period of which is contractually stipulated, or the end of the lease term. The Lease with West Virginia University has an initial term of 40 years with two 10 -year extensions at the Company's option. The Company may not sell, assign, convey or transfer its leasehold interest in the West Virginia University student housing facility. In the event the Company seeks to sell its leasehold interest in the other four facilities, the Leases provide the applicable Lessor the right of first refusal of a bona fide purchase offer and an option to purchase the lessee’s rights under the applicable Lease. Additionally, as discussed in Note 10 , three of the on-campus participating properties are 100% financed with project-based taxable bonds. In conjunction with the execution of each Lease, the Company has entered into separate agreements to manage the related facilities for a fee equal to a percentage of defined gross receipts. The terms of the management agreements are not contingent upon the continuation of the Leases. On-campus participating properties are as follows: Lease Required Debt Historical Cost – December 31, Lessor/University Commencement Repayment 2016 2015 Texas A&M University System / Prairie View A&M University (1) 2/1/1996 9/1/2023 $ 45,310 $ 44,147 Texas A&M University System / Texas A&M International 2/1/1996 9/1/2023 7,215 7,064 Texas A&M University System / Prairie View A&M University (2) 10/1/1999 8/31/2025 28,627 27,717 8/31/2028 University of Houston System / University of Houston (3) 9/27/2000 8/31/2035 37,960 37,381 West Virginia University / West Virginia University 7/16/2013 7/16/2045 43,817 43,676 162,929 159,985 Less accumulated amortization (77,132 ) (69,856 ) On-campus participating properties, net $ 85,797 $ 90,129 (1) Consists of three phases placed in service between 1996 and 1998. (2) Consists of two phases placed in service in 2000 and 2003. (3) Consists of two phases placed in service in 2001 and 2005.

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Operating Partnership Partially-owned properties: As of December 31, 2016 , the Operating Partnership consolidates three joint ventures that own and operate the University Village at Sweet Home, University Centre and Villas at Chestnut Ridge owned-off campus properties. The portion of net assets attributable to the third-party partners in these joint ventures is classified as “noncontrolling interests - partially owned properties” within capital on the accompanying consolidated balance sheets of the Operating Partnership. Accordingly, the third-party partners’ share of the income or loss of the joint ventures is reported on the consolidated statements of comprehensive income of the Operating Partnership as “net income attributable to noncontrolling interests – partially owned properties.” As discussed in Note 5 , in December 2016, the Company entered into a pre-sale agreement to purchase The Edge at Stadium Centre . The $1.2 million equity contribution from the developer is reflected as noncontrolling interest - partially owned properties within capital on the accompanying consolidated balance sheets of the Operating Partnership as of December 31, 2016 . In July 2015, the Company entered into a pre-sale agreement to purchase The Court at Stadium Centre (See note 5). The initial $7.3 million equity contribution from the developer was reflected as noncontrolling interest - partially owned properties within capital on the accompanying consolidated balance sheets of the Operating Partnership as of December 31, 2015 . At closing of the transaction, the Company paid $7.3 million in cash consideration to acquire the third-party developer's noncontrolling interest in the property. In February 2015, the Company closed on the purchase of University Walk, a property previously subject to a pre-sale agreement. At closing, the Company paid $1.1 million in cash consideration for the third-party developer’s $1.5 million noncontrolling interest in the property. The difference of $0.4 million , which represented the excess of the carrying amount of the noncontrolling interest over the consideration paid, is reflected as an adjustment to additional paid in capital in the accompanying consolidated statements of changes in capital. OP Units : For the portion of OP Units that the Operating Partnership is required, either by contract or securities law, to deliver registered common shares of ACC to the exchanging OP unit holder, or for which the Operating Partnership has the intent or history of exchanging such units for cash, the Company classifies the units as “redeemable limited partners” in the mezzanine section of the consolidated balance sheets of the Operating Partnership. The units classified as such include Series A Preferred Units (“Preferred OP Units”) as well as common OP units that are not held by ACC or ACC Holdings. The value of redeemable limited partners on the consolidated balance sheets of the Operating Partnership is reported at the greater of fair value, which is based on the closing market value of the Company's common stock at period end, or historical cost at the end of each reporting period. Changes in the value from period to period are charged to limited partners' capital on the consolidated statement of changes in capital of the Operating Partnership. Below is a table summarizing the activity of redeemable limited partners for the years ended December 31, 2016 and 2015 : Balance, December 31, 2014 $ 54,472 Net income 1,458 Distributions (2,329 ) Redeemable limited partner units issued as consideration (see Note 5) 14,182 Conversion of redeemable limited partner units into shares of ACC common stock (3,000 ) Redemption of redeemable limited partner units for cash (810 ) Adjustments to reflect redeemable limited partner units at fair value (4,462 ) Balance, December 31, 2015 $ 59,511 Net income 1,106 Distributions (2,141 ) Conversion of redeemable limited partner units into shares of ACC common stock (11,335 ) Adjustments to reflect redeemable limited partner units at fair value 7,937 Balance, December 31, 2016 $ 55,078 During the year ended December 31, 2016 , 280,915 Common OP Units and 31,846 Series A preferred units were converted into an equal number of shares of ACC’s common stock and during the year ended December 31, 2015 , 118,474 Common OP Units and 1,000 Series A preferred units were converted into an equal number of shares of ACC’s common stock. As of December 31, 2016 and December 31, 2015 , approximately 0.8% and 1.2% , respectively, of the equity interests of the Operating Partnership was held by owners of common OP Units and Series A preferred units not held by ACC or ACC Holdings. Company The noncontrolling interests of the Company include the third-party equity interests in partially-owned properties, as discussed above, which are presented as a component of equity in the Company’s consolidated balance sheets. The Company’s noncontrolling interests also include the redeemable limited partners presented in the consolidated balance sheets of the Operating Partnership, which are referred to as “redeemable noncontrolling interests” in the mezzanine section of the Company’s consolidated balance sheets. Noncontrolling interests on the Company’s consolidated statements of comprehensive income include the income/loss attributable to third-party equity interests in partially-owned properties, as well as the income/loss attributable to redeemable noncontrolling interests (i.e. OP Units not held by ACC or ACC Holdings.)

Debt

Debt	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt	Debt On January 1, 2016, the Company adopted ASU 2015-03, and as a result, deferred financing costs associated with secured mortgage, construction and bond debt, unsecured notes, and unsecured term loans are now subject to the new accounting guidance and are presented as a direct reduction to the carrying value of the debt. Prior period amounts have been reclassified to conform to the current period presentation (see Note 2 ). A summary of the Company’s outstanding consolidated indebtedness, including unamortized debt premiums and discounts, is as follows: December 31, 2016 2015 Debt secured by wholly-owned properties: Mortgage loans payable: Unpaid principal balance $ 559,642 $ 934,769 Unamortized deferred financing costs (3,040 ) (5,084 ) Unamortized debt premiums 26,830 50,763 Unamortized debt discounts — (166 ) 583,432 980,282 Construction loans payable — 5,559 (1) Unamortized deferred financing costs — (374 ) 583,432 985,467 Debt secured by on-campus participating properties: Mortgage loans payable 71,662 73,465 Bonds payable 33,870 36,935 Unamortized deferred financing costs (769 ) (905 ) 104,763 109,495 Total secured mortgage, construction and bond debt 688,195 1,094,962 Unsecured notes, net of unamortized OID and deferred financing costs (2) 1,188,737 1,186,700 Unsecured term loans, net of unamortized deferred financing costs (3) 149,065 597,719 Unsecured revolving credit facility 99,300 68,900 Total debt $ 2,125,297 $ 2,948,281 (1) The loan used to partially finance the development of The Court was classified as a construction loan as of December 31, 2015 and is now reflected as a mortgage loan as of December 31, 2016 , as construction of the property was completed and the property opened in August of 2016. (2) Includes net unamortized original issue discount (“OID”) of $1.9 million at December 31, 2016 and $2.2 million at December 31, 2015 , and net unamortized deferred financing costs of $9.3 million at December 31, 2016 and $11.1 million at December 31, 2015 . (3) Includes net unamortized deferred financing costs of $0.9 million at December 31, 2016 and $2.3 million at December 31, 2015 . Mortgage and Construction Loans Payable Mortgage loans payable generally feature either monthly interest and principal payments or monthly interest-only payments with balloon payments due at maturity. For purposes of classification in the following table, variable rate mortgage loans subject to interest rate swaps are deemed to be fixed rate, due to the Company having effectively fixed the interest rate for the underlying debt instrument. Construction loans payable generally feature monthly payments of interest only during the term of the loan and any accrued interest and outstanding borrowings become due at maturity. Mortgage and construction loans payable, excluding debt premiums and discounts, consisted of the following as of December 31, 2016 : December 31, 2016 Principal Outstanding Weighted Weighted Number of December 31, Average Average Properties 2016 2015 Interest Rate Years to Maturity Encumbered Fixed Rate: Mortgage loans payable (1) $ 631,304 $ 1,008,234 4.72 % 5.8 years 22 Construction loan payable — 5,559 — Total $ 631,304 $ 1,013,793 4.72 % 5.8 years 22 (1) Fixed rate mortgage loans payable mature at various dates from August 2017 through July 2045 and carry interest rates ranging from 3.05% to 6.43% . A loan related to The Court was classified as a construction loan as of December 31, 2015 and is now reflected as a mortgage loan as of December 31, 2016 , as construction of the property was completed and the property opened in August of 2016. During the twelve months ended December 31, 2016 , the following transactions occurred: Mortgage Loans Payable (1) Construction Loans Payable Balance, December 31, 2015 $ 1,058,831 $ 5,559 Additions: Mortgage loan formerly classified as construction loan (2) 10,013 (10,013 ) Draws under advancing construction notes payable (3) — 4,454 Deductions: Pay-off of mortgage notes payable due to disposition (4) (197,316 ) Pay-off of maturing mortgage notes payable (5) (177,655 ) — Scheduled repayments of principal (11,972 ) — Amortization and write off of debt premiums and discounts (23,767 ) — Balance, December 31, 2016 $ 658,134 $ — (1) Balance includes unamortized debt premiums and discounts. (2) Represents the reclassification of the loan used to partially finance the development and construction of The Court. This loan was classified as a construction loan as of December 31, 2015, and is now reflected as a mortgage loan as of December 31, 2016. (3) Represents draws from the construction loan used to partially finance the development and construction of The Court. (4) The Company paid off fixed rate mortgage debt on nine wholly-owned properties in connection with a portfolio disposition in November 2016. (5) The Company paid off fixed rate mortgage debt nearing maturity on eleven wholly-owned properties. During the year ended December 31, 2016 , we paid $23.8 million in debt defeasance costs associated with the early pay-off of mortgage loans in connection with the sale of nine wholly-owned properties. These costs were partially offset by the net write off of $11.0 million of deferred financing costs, premiums and discounts, resulting in a loss from early extinguishment of debt of $12.8 million . During the year ended December 31, 2015 , we incurred approximately $1.8 million of losses associated with the early pay-off of mortgage loans in connection with the sale of four wholly-owned properties. Bonds Payable Three of the on-campus participating properties are 100% financed with outstanding project-based taxable bonds. Under the terms of these financings, one of the Company’s special purpose subsidiaries publicly issued three series of taxable bonds and loaned the proceeds to three special purpose subsidiaries that each hold a separate leasehold interest. The bonds encumbering the leasehold interests are non-recourse, subject to customary exceptions. Although a default in payment by these special purpose subsidiaries could result in a default under one or more series of bonds, indebtedness of any of these special purpose subsidiaries is not cross-defaulted or cross-collateralized with indebtedness of the Company, the Operating Partnership or other special purpose subsidiaries. Repayment of principal and interest on these bonds is insured by MBIA, Inc. Interest and principal are paid semi-annually and annually, respectively, through maturity. Covenants include, among other items, budgeted and actual debt service coverage ratios. Bonds payable at December 31, 2016 consisted of the following: Principal Weighted Required Series Mortgaged Facilities Subject to Leases Original December 31, 2016 Average Rate Maturity Date Monthly Debt Service 1999 University Village-PVAMU/TAMIU $ 39,270 $ 19,025 7.76 % September 2023 $ 302 2001 University College–PVAMU 20,995 12,055 7.62 % August 2025 158 2003 University College–PVAMU 4,325 2,790 6.14 % August 2028 28 Total/weighted average rate $ 64,590 $ 33,870 7.58 % $ 488 Unsecured Notes The Company has issued the following senior unsecured notes: Date Issued Amount % of Par Value Coupon Yield Original Issue Discount Term (Years) April 2013 $ 400,000 99.659 3.750% 3.791% $ 1,364 10 June 2014 400,000 99.861 4.125% 4.269% (1) 556 10 September 2015 400,000 99.811 3.350% 3.391% 756 5 $ 1,200,000 $ 2,676 (1) The yield includes effect of the amortization of the interest rate swap terminations (see Note 13 for details). The notes are fully and unconditionally guaranteed by the Company. Interest on the notes is payable semi-annually. The terms of the unsecured notes include certain financial covenants that require the Operating Partnership to limit the amount of total debt and secured debt as a percentage of total asset value, as defined. In addition, the Operating Partnership must maintain a minimum ratio of unencumbered asset value to unsecured debt, as well as a minimum interest coverage level. As of December 31, 2016 , the Company was in compliance with all such covenants. Unsecured Credit Facility As of December 31, 2015, the Company had an aggregate unsecured credit facility totaling $1.1 billion which was comprised of two unsecured term loans totaling $600 million and a $500 million unsecured revolving credit facility. In January 2016, the Company refinanced $150 million of the $350 million term loan facility (“Term Loan I Facility”) by extending the maturity date of the $150 million portion from January 2017 to March 2021. In February 2016, the Company repaid the $250 million term loan facility (“Term Loan II Facility”) which was due to mature in 2018 using proceeds from the issuance of 17,940,000 shares of ACC’s common stock (see Note 11 for details). In connection with this pay-off, the Company accelerated the amortization of $1.1 million of deferred financing costs related to the Term Loan II Facility. In November 2016, the Company repaid $200 million of the $350 million Term Loan I Facility, which was due to mature in January 2017, using proceeds from the sale of a portfolio of 19 properties (see Note 6 ). In connection with the repayment, the Company accelerated the amortization of $0.1 million of deferred financing costs and terminated various interest rate swap contracts (see Note 13 for details). As of December 31, 2016 , the Company had an aggregate unsecured credit facility totaling $650 million which was comprised of the remaining $150 million Term Loan I Facility and a $500 million unsecured revolving credit facility. The maturity date of the unsecured revolving credit facility is March 2018 and it can be extended for an additional 12 months to March 2019, subject to the satisfaction of certain conditions. Each loan bears interest at a variable rate, at the Company’s option, based upon a base rate or one-, two-, three- or six-month LIBOR, plus, in each case, a spread based upon the Company’s investment grade rating from either Moody’s Investor Services, Inc. or Standard & Poor’s Rating Group. In February 2016, Standard & Poor's upgraded the Company's investment grade rating from BBB- to BBB and in May 2016 Moody's Investors Service upgraded its corporate credit rating on the Company from Baa3 to Baa2. As a result of the credit rating upgrades, the spread on the unsecured credit facility decreased between 25 and 30 basis points. The Company has entered into two interest rate swap contracts with notional amounts totaling $150 million that effectively fix the interest rate to a weighted average annual rate of 0.87% on the outstanding balance of the Term Loan I Facility (see Note 13 for details). Including the current spread of 1.10% , the all-in weighted average annual rate on the Term Loan I Facility was 1.97% at December 31, 2016 . Additionally, the Company is required to pay a facility fee of 0.20% per annum on the $500 million revolving credit facility. As of December 31, 2016 , the revolving credit facility bore interest at a weighted average annual rate of 2.02% ( 0.72% + 1.10% spread + 0.20% facility fee), and availability under the revolving credit facility totaled $400.7 million as of December 31, 2016 . The terms of the unsecured credit facility include certain restrictions and covenants, which limit, among other items, the incurrence of additional indebtedness, liens, and the disposition of assets. The facility contains customary affirmative and negative covenants and also contains financial covenants that, among other things, require the Company to maintain certain minimum leverage ratios and ratios of “EBITDA” (earnings before interest, taxes, depreciation and amortization) to fixed charges. The Company may not pay distributions that exceed a specified percentage of funds from operations, as adjusted, for any four consecutive quarters. The financial covenants also include consolidated net worth and leverage ratio tests. As of December 31, 2016 , the Company was in compliance with all such covenants. In January 2017, the Company amended and expanded its senior unsecured revolving credit facility (see Note 19 for details). Debt Maturities The following table summarizes the stated debt maturities and scheduled amortization payments, excluding debt premiums and discounts, for each of the five years subsequent to December 31, 2016 and thereafter: 2017 $ 40,356 2018 272,953 2019 13,036 2020 455,046 2021 382,147 Thereafter 950,936 $ 2,114,474 Payment of principal and interest were current at December 31, 2016 . Certain of the mortgage notes and bonds payable are subject to prepayment penalties.

Stockholders' Equity _ Partners

Stockholders' Equity / Partners' Capital	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity / Partners' Capital	Stockholders’ Equity / Partners’ Capital Stockholders’ Equity – Company In February 2016, ACC completed an equity offering, consisting of the sale of 17,940,000 shares of ACC’s common stock at a price of $41.25 per share, including 2,340,000 shares issued as a result of the exercise of the underwriters’ overallotment option in full at closing. The offering generated gross proceeds of approximately $740.0 million . The aggregate proceeds to ACC, net of the underwriting discount and expenses of the offering, were approximately $707.3 million . In June 2015, the Company established an at-the-market share offering program (the “ATM Equity Program”) through which the Company may issue and sell, from time to time, shares of common stock having an aggregate offering price of up to $500 million . The shares that may be sold under this program include shares of common stock of the Company with an aggregate offering price of approximately $194 million that were not sold under the Company's prior ATM program that expired in May 2015. Actual sales under the program will depend on a variety of factors, including, but not limited to, market conditions, the trading price of the Company’s common stock and determinations of the appropriate sources of funding for the Company. The following table presents activity under the Company’s ATM Equity Program: Year Ended December 31, 2016 2015 Total net proceeds $ 75,090 $ 213,416 Commissions paid to sales agents $ 953 $ 3,250 Weighted average price per share $ 51.07 $ 43.92 Shares of common stock sold 1,489,000 4,933,665 As of December 31, 2016 , the Company had approximately $424 million available for issuance under its ATM Equity Program. In 2015, the Company established a Non-Qualified Deferred Compensation Plan (“Deferred Compensation Plan”) maintained for the benefit of select employees and members of the Company’s Board of Directors, in which vested share awards (see Note 12 ), salary and other cash amounts earned may be deposited. Deferred Compensation Plan assets are held in a rabbi trust, which is subject to the claims of the Company’s creditors in the event of bankruptcy or insolvency. The value of the vested share awards held in the Deferred Compensation Plan is classified within stockholders’ equity in a manner similar to the manner in which treasury stock is accounted. Subsequent changes in the fair value of the shares are not recognized. During the year ended December 31, 2016 , 10,026 shares of ACC's common stock were deposited into the Deferred Compensation Plan, bringing total ACC shares held in the Deferred Compensation Plan to 20,181 as of December 31, 2016 . Partners’ Capital – Operating Partnership In connection with the equity offering and ATM Equity Program discussed above, ACCOP issued a number of Common OP Units to ACC equivalent to the number of common shares issued by ACC.

Incentive Award Plan

Incentive Award Plan	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Incentive Award Plan	Incentive Award Plan In May 2010, the Company’s stockholders approved the American Campus Communities, Inc. 2010 Incentive Award Plan (the “Plan”). The Plan provides for the grant of various stock-based incentive awards to selected employees and directors of the Company and the Company’s affiliates. The types of awards that may be granted under the Plan include incentive stock options, nonqualified stock options, restricted stock awards (“RSAs”), restricted stock units (“RSUs”), profits interest units (“PIUs”) and other stock-based awards. The Company has reserved a total of 1.7 million shares of the Company’s common stock for issuance pursuant to the Plan, subject to certain adjustments for changes in the Company’s capital structure, as defined in the Plan. As of December 31, 2016 , 715,272 shares were available for issuance under the Plan. Restricted Stock Units Upon initial appointment to the Board of Directors and reelection to the Board of Directors at each Annual Meeting of Stockholders, each outside member of the Board of Directors is granted RSUs. On the Settlement Date, the Company will deliver to the recipients a number of shares of common stock or cash, as determined by the Compensation Committee of the Board of Directors, equal to the number of RSUs held by the recipients. In addition, recipients of RSUs are entitled to dividend equivalents equal to the cash distributions paid by the Company on one share of common stock for each RSU issued, payable currently or on the Settlement Date, as determined by the Compensation Committee of the Board of Directors. Upon reelection to the Board of Directors in May 2016 , all members of the Company’s Board of Directors were granted RSUs in accordance with the Plan. These RSUs were valued at $150,000 for the Chairman of the Board of Directors and at $105,000 for all other members. The number of RSUs was determined based on the fair market value of the Company’s stock on the date of grant, as defined in the Plan. All awards vested and settled immediately on the date of grant, and the Company delivered shares of common stock and cash, as determined by the Compensation Committee of the Board of Directors. In addition, the Company appointed a new member to the Board of Directors in September 2016 and granted RSUs valued at 105,000 . A summary of the Company’s RSUs under the Plan for the years ended December 31, 2016 and 2015 is presented below: Number of RSUs Weighted-Average Grant Date Fair Value Per RSU Outstanding at December 31, 2014 — $ — Granted 22,320 39.65 Settled in common shares (16,491 ) 39.77 Settled in cash (5,829 ) 39.34 Outstanding at December 31, 2015 — $ — Granted 18,908 46.81 Settled in common shares (15,524 ) 46.87 Settled in cash (3,384 ) 46.55 Outstanding at December 31, 2016 — $ — The Company recognized expense of approximately $0.9 million , $0.9 million and $0.6 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, reflecting the fair value of the RSUs issued on the date of grant. The weighted-average grant-date fair value for each RSU granted during the year ended December 31, 2014 was $38.54 . Restricted Stock Awards The Company awards RSAs to its executive officers and certain employees that generally vest in equal annual installments over a five year period. Unvested awards are forfeited upon the termination of an individual’s employment with the Company under specified circumstances. Recipients of RSAs receive dividends, as declared by the Company’s Board of Directors, on unvested shares, provided that the recipient continues to be employed by the Company. A summary of the Company’s RSAs under the Plan for the years ended December 31, 2016 and 2015 is presented below: Number of RSAs Weighted-Average Grant Date Fair Value Per RSA Nonvested balance at December 31, 2014 609,514 $ 38.31 Granted 286,178 44.23 Vested (116,166 ) 36.50 Forfeited (1) (123,601 ) 38.78 Nonvested balance at December 31, 2015 655,925 $ 41.12 Granted 332,717 41.41 Vested (127,352 ) 40.19 Forfeited (1) (88,189 ) 40.47 Nonvested balance at December 31, 2016 773,101 $ 41.47 (1) Includes shares withheld to satisfy tax obligations upon vesting. The fair value of RSAs is calculated based on the closing market value of the Company’s common stock on the date of grant. The fair value of these awards is amortized to expense over the vesting periods, which amounted to approximately $9.3 million , $7.5 million and $6.8 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The weighted-average grant date fair value for each RSA granted and forfeited during the year ended December 31, 2014 was $34.52 and $36.75 , respectively. The total fair value of RSAs vested during the year ended December 31, 2016 , was approximately $8.6 million . Additionally, as of December 31, 2016 , the Company had approximately $23.9 million of total unrecognized compensation cost related to these RSAs, which is expected to be recognized over a remaining weighted-average period of 3.1 years. Per the provisions of the Plan, an employee becomes retirement eligible when (i) the sum of an employee’s full years of service (a minimum of 120 contiguous full months) and the employee’s age on the date of termination (a minimum of 50 years of age) equals or exceeds 70 years (hereinafter referred to as the “Rule of 70”); (ii) the employee gives at least six months prior written notice to the Company of his or her intention to retire; and (iii) the employee enters into a noncompetition agreement and a general release of all claims in a form that is reasonably satisfactory to the Company. As of December 31, 2016 , 12 employees have met the Rule of 70 and a total of 226,545 unvested RSAs are held by such employees. Once the other two conditions of retirement eligibility are met, the shares held by these employees will be subject to accelerated vesting.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts and its known or expected cash payments principally related to the Company’s investments and borrowings. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps and forward starting swaps as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. Forward starting swaps are used to protect the Company against adverse fluctuations in interest rates by reducing its exposure to variability in cash flows relating to interest payments on a forecasted issuance of debt. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in other comprehensive income (outside of earnings) and subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings, and the ineffective portion of changes in the fair value of the derivative is recognized directly in earnings. Ineffectiveness resulting from the derivative instruments summarized below was immaterial for the years ended December 31, 2016 , 2015 and 2014 . The following table summarizes the Company’s outstanding interest rate swap contracts as of December 31, 2016 : Hedged Debt Instrument Effective Date Maturity Date Pay Fixed Rate Receive Floating Rate Index Current Notional Amount Fair Value Cullen Oaks mortgage loan Feb 18, 2014 Feb 15, 2021 2.2750% LIBOR - 1 month $ 14,219 $ (329 ) Cullen Oaks mortgage loan Feb 18, 2014 Feb 15, 2021 2.2750% LIBOR - 1 month 14,365 (333 ) Term Loan I Facility Feb 2, 2012 Jan 2, 2017 0.8695% LIBOR – 1 month 125,000 (2 ) Term Loan I Facility Feb 2, 2012 Jan 2, 2017 0.8800% LIBOR – 1 month 25,000 — Park Point mortgage loan Nov 1, 2013 Oct 5, 2018 1.5450% LIBOR - 1 month 70,000 (435 ) Total $ 248,584 $ (1,099 ) In November 2016, in connection with the repayment of $200 million of the $350 million Term Loan I Facility, the Company terminated two swap contracts and reduced an additional contract from a notional amount of $100 million to a current notional amount of $25 million . The termination and reduction of these swap contracts resulted in a payment to the counterparty of $0.1 million and a reclassification out of other comprehensive income into earnings of $0.2 million , both of which were recorded as interest expense. In March 2014, the Company entered into two forward starting interest rate swap contracts with notional amounts totaling $200 million designated to hedge the Company's exposure to increasing interest rates related to interest payments on an anticipated issuance of unsecured notes. In connection with the issuance of unsecured notes in June 2014, the Company terminated both swap contracts resulting in payments to both counterparties totaling approximately $4.1 million , which were recorded in accumulated other comprehensive loss and will be amortized to interest expense over the term of the unsecured notes. During both the years ended December 31, 2016 and 2015 , $0.4 million was amortized from accumulated other comprehensive loss to interest expense. As of December 31, 2016 and 2015 approximately $3.1 million and $3.5 million of the $4.1 million payment remained to be amortized. The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2016 and 2015 : Liability Derivatives Fair Value as of Description Balance Sheet Location December 31, 2016 December 31, 2015 Interest rate swap contracts Other liabilities $ 1,099 $ 2,454 Total derivatives designated $ 1,099 $ 2,454

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures Financial Instruments Carried at Fair Value The following table presents information about the Company’s financial instruments measured at fair value on a recurring basis as of December 31, 2016 and 2015 , and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. In general, fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets and inputs other than quoted prices observable for the asset or liability, such as interest rates and yield curves observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. In instances in which the inputs used to measure fair value may fall into different levels of the fair value hierarchy, the level in the fair value hierarchy within which the fair value measurement in its entirety has been determined is based on the lowest level input significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Disclosures concerning financial instruments measured at fair value are as follows: Fair Value Measurements as of December 31, 2016 December 31, 2015 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Liabilities: Derivative financial instruments $ — $ 1,099 $ — $ 1,099 $ — $ 2,454 $ — $ 2,454 Mezzanine: Redeemable noncontrolling interests (Company)/Redeemable limited partners (Operating Partnership) $ — $ 55,078 $ — $ 55,078 $ — $ 59,511 $ — $ 59,511 The Company uses derivative financial instruments, specifically interest rate swaps and forward starting swaps, for nontrading purposes. The Company uses interest rate swaps to manage interest rate risk arising from previously unhedged interest payments associated with variable rate debt and forward starting swaps to reduce exposure to variability in cash flows relating to interest payments on forecasted issuances of debt. Through December 31, 2016 , derivative financial instruments were designated and qualified as cash flow hedges. Derivative contracts with positive net fair values inclusive of net accrued interest receipts or payments are recorded in other assets. Derivative contracts with negative net fair values, inclusive of net accrued interest payments or receipts, are recorded in other liabilities. The valuation of these instruments is determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The Company incorporates credit valuation adjustments to appropriately reflect its own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds and guarantees. Although the Company has determined the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparty. However, as of December 31, 2016 and 2015 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuation of the Company’s derivative financial instruments. As a result, the Company has determined each of its derivative valuations in its entirety is classified in Level 2 of the fair value hierarchy. Redeemable noncontrolling interests in the Company (redeemable limited partners in the Operating Partnership) have a redemption feature and are marked to their redemption value. The redemption value is based on the fair value of the Company’s common stock at the redemption date, and therefore is calculated based on the fair value of the Company’s common stock at the balance sheet date. Since the valuation is based on observable inputs such as quoted prices for similar instruments in active markets, these instruments are classified in Level 2 of the fair value hierarchy. Financial Instruments Not Carried at Fair Value Cash and Cash Equivalents, Restricted Cash, Student Contracts Receivable, Other Assets, Accounts Payable and Accrued Expenses and Other Liabilities: The Company estimates that the carrying amount approximates fair value, due to the short maturity of these instruments. Loans Receivable : The fair value of loans receivable is based on a discounted cash flow analysis consisting of scheduled cash flows and discount rate estimates to approximate those that a willing buyer and seller might use. These financial instruments utilize Level 3 inputs. Mortgage Loans Payable : The fair value of mortgage loans payable is based on the present value of the cash flows at current market interest rates through maturity. The Company has concluded the fair value of these financial instruments utilize Level 2 inputs as the majority of the inputs used to value these instruments fall within Level 2 of the fair value hierarchy. Bonds Payable : The fair value of bonds payable is based on quoted prices in markets that are not active due to the unique characteristics of these financial instruments; as such, the Company has concluded the inputs used to measure fair value fall within Level 2 of the fair value hierarchy. Unsecured Notes : In calculating the fair value of unsecured notes, interest rate and spread assumptions reflect current creditworthiness and market conditions available for the issuance of unsecured notes with similar terms and remaining maturities. These financial instruments utilize Level 2 inputs. Unsecured Revolving Credit Facility : The fair value of this instrument approximates its carrying value due to the variable interest rate feature of the instrument. The table below contains the estimated fair value and related carrying amounts for the Company’s financial instruments as of December 31, 2016 and 2015 : December 31, 2016 December 31, 2015 Estimated Fair Value Carrying Amount Estimated Fair Value Carrying Amount Assets: Loans receivable $ 54,396 $ 58,539 $ 48,030 $ 57,175 Liabilities: Unsecured notes $ 1,211,344 $ 1,188,737 (1) $ 1,180,466 $ 1,186,700 (1) Mortgage loans $ 644,617 $ 654,794 (2) $ 994,809 $ 1,053,414 (2) Bonds payable $ 37,066 $ 33,401 $ 40,716 $ 36,363 (1) Includes net unamortized OID and net unamortized deferred financing costs (see Note 10 ). (2) Includes net unamortized debt premiums and discounts and net unamortized deferred financing costs (see Note 10 ).

Lease Commitments

Lease Commitments	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Lease Commitments	Lease Commitments As discussed in Note 2 , the Company as lessee has entered into lease agreements with university systems and other third parties for the purpose of financing, constructing and operating student housing properties. Under the terms of the ground/facility leases, the lessor may receive annual minimum rent, variable rent based upon the operating performance of the property, or a combination thereof. The Company records rent under the straight-line method over the term of the lease and any difference between the straight-line rent amount and amount payable under the lease terms is recorded as prepaid or deferred rent. Straight-lined rental amounts are capitalized during the construction period and expensed upon the commencement of operations. Owned On-Campus Properties Under its ACE program, the Company has entered into ground/facility lease agreements with thirteen university systems to finance, construct, and manage 28 student housing properties (see Note 2 for details). As of December 31, 2016 and 2015 , net prepaid ground rent totaled approximately $10.5 million and $8.9 million , respectively, and is included in other assets on the accompanying consolidated balance sheets. Under these ground/facility leases, the Company recognized rent expense of approximately $6.2 million , $5.3 million and $4.2 million for the years end December 31, 2016 , 2015 and 2014 , respectively, and capitalized rent of approximately $0.7 million , $0.4 million and $1.4 million for the years end December 31, 2016 , 2015 and 2014 , respectively. Rent expense is included in ground/facility leases expense in the accompanying consolidated statements of comprehensive income. On-Campus Participating Properties The Company is a party to ground/facility lease agreements with three university systems for the purpose of developing, constructing, and operating five student housing facilities on university campuses. Under the terms of the agreements, the lessor receives 50% of defined net cash flows on an annual basis through the term of the lease (see Note 2 and Note 8 for details). Under these leases, the Company recognized rent expense of approximately $3.0 million , $2.9 million and $3.2 million for the years end December 31, 2016 , 2015 and 2014 , respectively. Rent expense is included in ground/facility leases expense in the accompanying consolidated statements of comprehensive income. Other Leases The Company has entered into ground lease agreements with third parties for the purpose of constructing and operating its owned off-campus student housing properties. As of December 31, 2016 and 2015 , net deferred ground rent totaled approximately $3.2 million and $3.0 million , respectively, and is included in other liabilities on the accompanying consolidated balance sheets. Under these ground leases, the Company recognized rent expense of approximately $2.2 million , $2.2 million and $2.0 million for the years end December 31, 2016 , 2015 and 2014 , respectively. Rent expense is included in wholly-owned properties operating expenses in the accompanying consolidated statements of comprehensive income. In addition, the Company is a party to a lease for corporate office space beginning December 2010 , and expiring December 2020 . Additionally, the Company entered into a lease for expansion space for its corporate office beginning December 2016 and expiring March 2024. The terms of the leases provide for a period of free rent, scheduled rental rate increases, and common area maintenance charges upon expiration of the free rent period. The Company also has various operating leases for furniture, office and technology equipment, which expire through 2021 . There were no capital lease obligations outstanding as of December 31, 2016 . Future minimum commitments over the life of all leases, which exclude variable rent payments, are as follows: Operating 2017 $ 7,671 2018 8,312 2019 8,812 2020 8,925 2021 8,577 Thereafter 323,914 Total minimum lease payments $ 366,211

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments Construction Contracts: As of December 31, 2016 , the Company estimates additional costs to complete thirteen wholly-owned development projects currently under construction or under contract to begin construction, to be approximately $427.2 million . The Company expects to fund this amount through a combination of cash flows generated from operations, draws under the Company's unsecured revolving credit facility, issuance of securities under the Company's ATM Equity Program and potential debt or equity offerings under the Company's automatic shelf registration statement. Pre-sale Arrangements: In December 2016, the Company entered into a pre-sale agreement to purchase The Edge at Stadium Centre , a property which will be completed in August 2018. Total estimated development costs of approximately $42.6 million include the purchase price, elected upgrades, and capitalized transaction costs. The Company is obligated to purchase the property as long as certain construction completion deadlines and other closing conditions are met. The company is responsible for leasing, management, and initial operations of the project while the third-party developer retains development risk during the construction period. Development-related Guarantees: For certain of its third-party development projects, the Company commonly provides alternate housing and project cost guarantees, subject to force majeure. These guarantees are typically limited, on an aggregate basis, to the amount of the projects’ related development fees or a contractually agreed-upon maximum exposure amount. Alternate housing guarantees typically expire within five days of scheduled completion, as defined, and generally require the Company to provide substitute living quarters and transportation for students to and from the university if the project is not complete by an agreed-upon completion date. Under project cost guarantees, the Company is responsible for the construction cost of a project in excess of an approved budget. The budget consists primarily of costs included in the general contractors’ guaranteed maximum price contract (“GMP”). In most cases, the GMP obligates the general contractor, subject to force majeure and approved change orders, to provide completion date guarantees and to cover cost overruns and liquidated damages. In addition, the GMP is typically secured with payment and performance bonds. Project cost guarantees expire upon completion of certain developer obligations, which are normally satisfied within one year after completion of the project. For two of its third-party development projects that are currently under construction with the same University system, the Company’s obligation to pay alternate housing costs and excess project costs are unlimited in amount. However, if the Company’s payment obligation arises from force majeure or is caused by the owner, the owner agrees to reimburse the Company from future cash flow of the project, with such reimbursement being subordinate to any financing on the property but paid prior to the University receiving any cash flow from the property. If the Company’s obligation is a result of the general contractor and/or design professionals’ negligence, the owner agrees to assign its right to recover from such party to the Company. Additionally, for these two projects, the Company’s exposure to such costs resulting from owner-caused delays, as defined, is limited to $1.5 million . As of December 31, 2016 , management did not anticipate any material deviations from schedule or budget related to third-party development projects currently in progress. In the normal course of business, the Company enters into various development-related purchase commitments with parties that provide development-related goods and services. In the event that the Company was to terminate development services prior to the completion of projects under construction, the Company could potentially be committed to satisfy outstanding purchase orders with such parties. In August 2013, the Company entered into an agreement to convey fee interest in a parcel of land, on which one of the Company's student housing properties resides (University Crossings), to Drexel University (the “University”). Concurrent with the land conveyance, the Company as lessee entered into a ground lease agreement with the University as lessor for an initial term of 40 years , with three 10 -year extensions, at the Company’s option. The Company also agreed to convey the building and improvements to the University at an undetermined date in the future and to pay real estate transfer taxes not to exceed $2.4 million . The Company paid approximately $0.6 million in real estate transfer taxes upon the conveyance of land to the University, leaving approximately $1.8 million to be paid by the Company upon the transfer of the building and improvements. Contingencies Litigation: The Company is subject to various claims, lawsuits and legal proceedings, as well as other matters that have not been fully resolved and that have arisen in the ordinary course of business. While it is not possible to ascertain the ultimate outcome of such matters, management believes that the aggregate amount of such liabilities, if any, in excess of amounts provided or covered by insurance, will not have a material adverse effect on the consolidated financial position or results of operations of the Company. However, the outcome of claims, lawsuits and legal proceedings brought against the Company is subject to significant uncertainty. Therefore, although management considers the likelihood of such an outcome to be remote, the ultimate results of these matters cannot be predicted with certainty. Letters of Intent: In the ordinary course of the Company’s business, the Company enters into letters of intent indicating a willingness to negotiate for acquisitions, dispositions or joint ventures. Such letters of intent are non-binding (except with regards to exclusivity and confidentiality), and neither party to the letter of intent is obligated to pursue negotiations unless and until a definitive contract is entered into by the parties. Even if definitive contracts are entered into, the letters of intent relating to the acquisition and disposition of real property and resulting contracts generally contemplate that such contracts will provide the acquirer with time to evaluate the property and conduct due diligence, during which periods the acquirer will have the ability to terminate the contracts without penalty or forfeiture of any material deposit or earnest money. There can be no assurance that definitive contracts will be entered into with respect to any matter covered by letters of intent or that the Company will consummate any transaction contemplated by any definitive contract. Furthermore, due diligence periods for real property are frequently extended as needed. Once the due diligence period expires, the Company is then at risk under a real property acquisition contract, but only to the extent of any non-refundable earnest money deposits associated with the contract and subject to normal closing conditions being met. Environmental Matters: The Company is not aware of any environmental liability with respect to the properties that would have a material adverse effect on the Company’s business, assets or results of operations. However, there can be no assurance that such a material environmental liability does not exist. The existence of any such material environmental liability could have an adverse effect on the Company’s results of operations and cash flows.

Segments

Segments	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segments	Segments The Company defines business segments by their distinct customer base and service provided. The Company has identified four reportable segments: Wholly-Owned Properties, On-Campus Participating Properties, Development Services, and Property Management Services. Management evaluates each segment’s performance based on operating income before depreciation, amortization, minority interests and allocation of corporate overhead. Intercompany fees are reflected at the contractually stipulated amounts. Year Ended December 31, 2016 2015 2014 Wholly-Owned Properties Rental revenues and other income $ 738,598 $ 708,018 $ 693,694 Interest income 1,170 1,071 1,079 Total revenues from external customers 739,768 709,089 694,773 Operating expenses before depreciation, amortization, ground/facility lease, and allocation of corporate overhead (332,325 ) (330,932 ) (331,046 ) Ground/facility leases (6,158 ) (5,297 ) (4,196 ) Interest expense (18,552 ) (30,147 ) (42,906 ) Operating income before depreciation, amortization and allocation of corporate overhead $ 382,733 $ 342,713 $ 316,625 Depreciation and amortization $ 200,934 $ 198,986 $ 189,424 Capital expenditures $ 485,726 $ 316,468 $ 334,249 Total segment assets at December 31, (1) $ 5,672,360 $ 5,804,068 $ 5,598,276 On-Campus Participating Properties Rental revenues and other income $ 33,433 $ 31,586 $ 28,534 Interest income 10 2 3 Total revenues from external customers 33,443 31,588 28,537 Operating expenses before depreciation, amortization, ground/facility lease, and allocation of corporate overhead (12,224 ) (11,407 ) (10,437 ) Ground/facility lease (3,009 ) (2,935 ) (3,201 ) Interest expense (5,539 ) (5,833 ) (5,131 ) Operating income before depreciation, amortization and allocation of corporate overhead $ 12,671 $ 11,413 $ 9,768 Depreciation and amortization $ 7,343 $ 7,034 $ 5,688 Capital expenditures $ 2,944 $ 2,943 $ 29,621 Total segment assets at December 31, (1) $ 103,256 $ 104,641 $ 108,968 Development Services Development and construction management fees $ 4,606 $ 4,964 $ 4,018 Operating expenses (13,763 ) (13,732 ) (11,883 ) Operating loss before depreciation, amortization and allocation of corporate overhead $ (9,157 ) $ (8,768 ) $ (7,865 ) Total segment assets at December 31, (1) $ 2,601 $ 1,730 $ 1,530 Property Management Services Property management fees from external customers $ 9,724 $ 8,813 $ 7,669 Intersegment revenues 23,082 23,054 22,889 Total revenues 32,806 31,867 30,558 Operating expenses (12,089 ) (11,360 ) (12,400 ) Operating income before depreciation, amortization and allocation of corporate overhead $ 20,717 $ 20,507 $ 18,158 Total segment assets at December 31, (1) $ 7,997 $ 9,432 $ 6,513 Reconciliations Total segment revenues and other income $ 810,623 $ 777,508 $ 757,886 Unallocated interest income earned on investments and corporate cash 4,301 3,348 3,086 Elimination of intersegment revenues (23,082 ) (23,054 ) (22,889 ) Total consolidated revenues, including interest income $ 791,842 $ 757,802 $ 738,083 Segment operating income before depreciation, amortization and allocation of corporate overhead $ 406,964 $ 365,865 $ 336,686 Depreciation and amortization (217,907 ) (214,338 ) (203,413 ) Net unallocated expenses relating to corporate interest and overhead (90,745 ) (83,541 ) (67,956 ) Gain (loss) from disposition of real estate 21,197 52,699 (368 ) Provision for real estate impairment (4,895 ) — (2,443 ) Other nonoperating income — 388 186 Loss from early extinguishment of debt (12,841 ) (1,770 ) — Income tax provision (1,150 ) (1,242 ) (1,308 ) Income from continuing operations $ 100,623 $ 118,061 $ 61,384 Total segment assets (1) $ 5,786,214 $ 5,919,871 $ 5,715,287 Unallocated corporate assets (1) 79,699 86,377 100,757 Total assets at December 31, (1) $ 5,865,913 $ 6,006,248 $ 5,816,044 (1) All prior periods presented have been changed to reflect the adoption of ASU 2015-03 (see No tes 2 and 10 ).

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (Unaudited)	Quarterly Financial Information (Unaudited) American Campus Communities, Inc. The information presented below represents the quarterly consolidated financial results of the Company for the years ended December 31, 2016 and 2015 . 2016 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Total Total revenues $ 199,995 $ 185,983 $ 196,411 $ 203,972 $ 786,361 Operating income 53,035 39,106 29,278 51,724 173,143 Net income 46,209 18,765 9,845 25,804 100,623 Net income attributable to noncontrolling interests (622 ) (327 ) (201 ) (412 ) (1,562 ) Net income attributable to ACC, Inc. and Subsidiaries common stockholders $ 45,587 $ 18,438 $ 9,644 $ 25,392 $ 99,061 Net income attributable to common stockholders per share - basic $ 0.37 $ 0.14 $ 0.07 $ 0.19 $ 0.76 (1) Net income attributable to common stockholders per share - diluted $ 0.36 $ 0.14 $ 0.07 $ 0.19 $ 0.75 (1) (1) Net income per share is computed independently for each of the periods presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. 2015 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Total Total revenues $ 192,493 $ 177,874 $ 180,816 $ 202,198 $ 753,381 Operating income 50,176 34,452 18,551 53,725 156,904 Net income 71,267 15,918 2,016 28,860 118,061 Net income attributable to noncontrolling interests (1,070 ) (338 ) (161 ) (501 ) (2,070 ) Net income attributable to ACC, Inc. and Subsidiaries common stockholders $ 70,197 $ 15,580 $ 1,855 $ 28,359 $ 115,991 Net income attributable to common stockholders per share - basic $ 0.63 $ 0.14 $ 0.01 $ 0.25 $ 1.03 Net income attributable to common stockholders per share - diluted $ 0.62 $ 0.14 $ 0.01 $ 0.25 $ 1.02 American Campus Communities Operating Partnership, L.P. The information presented below represents the quarterly consolidated financial results of the Operating Partnership for the years ended December 31, 2016 and 2015 . 2016 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Total Total revenues $ 199,995 $ 185,983 $ 196,411 $ 203,972 $ 786,361 Operating income 53,035 39,106 29,278 51,724 173,143 Net income 46,209 18,765 9,845 25,804 100,623 Net income attributable to noncontrolling interests (104 ) (104 ) (77 ) (171 ) (456 ) Series A preferred unit distributions (42 ) (37 ) (36 ) (31 ) (146 ) Net income available to common unitholders $ 46,063 $ 18,624 $ 9,732 $ 25,602 $ 100,021 Net income per unit attributable to common unitholders - basic $ 0.37 $ 0.14 $ 0.07 $ 0.19 $ 0.76 (1) Net income per unit attributable to common unitholders - diluted $ 0.36 $ 0.14 $ 0.07 $ 0.19 $ 0.75 (1) 2015 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Total Total revenues $ 192,493 $ 177,874 $ 180,816 $ 202,198 $ 753,381 Operating income 50,176 34,452 18,551 53,725 156,904 Net income 71,267 15,918 2,016 28,860 118,061 Net income attributable to noncontrolling interests (323 ) (92 ) (92 ) (105 ) (612 ) Series A preferred unit distributions (44 ) (44 ) (44 ) (44 ) (176 ) Net income available to common unitholders $ 70,900 $ 15,782 $ 1,880 $ 28,711 $ 117,273 Net income per unit attributable to common unitholders - basic $ 0.63 $ 0.14 $ 0.01 $ 0.25 $ 1.03 Net income per unit attributable to common unitholders - diluted $ 0.63 $ 0.14 $ 0.01 $ 0.25 $ 1.02 (1) (1) Net income per share is computed independently for each of the periods presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Departure/Appointment of Officers: On January 10, 2017, the Company announced that effective as of March 31, 2017 Jonathan A. Graf will resign as the Company's Executive Vice President and Chief Financial Officer, and will retire from the Company as of June 30, 2017. The Company and Mr. Graf entered into a Separation Agreement and Mutual General Release, dated as of January 10, 2017 (the “Separation Agreement”). The Separation Agreement provides, among other things, that (i) the Company will continue to pay Mr. Graf his base salary to which he is entitled under his current employment agreement through June 30, 2017 and will pay to Mr. Graf $2.1 million on June 30, 2017, (ii) Mr. Graf will retain all of the restricted stock awards, common units and other stock-based awards previously granted to him that have vested as of June 30, 2017 and all restricted stock awards or other stock-based awards unvested as of June 30, 2017 will vest on such date, and (iii) the Confidentiality and Noncompetition Agreement between the Company and Mr. Graf will survive the termination of Mr. Graf’s employment with the Company. The foregoing provisions are consistent with those set forth in Mr. Graf’s current employment agreement with respect to a termination without cause. Also effective as of March 31, 2017, Daniel B. Perry, the Company’s Executive Vice President-Capital Markets, will be promoted to Executive Vice President and Chief Financial Officer. Effective January 10, 2017, the Company separated the roles of President and Chief Executive Officer, with William C. Bayless, Jr. remaining as Chief Executive Officer and James C. Hopke, Jr., Executive Vice President and Chief Operating Officer, being promoted to the position of President. Also effective January 10, 2017, Kim K. Voss, Executive Vice President and Controller, was promoted to the position of Executive Vice President and Chief Accounting Officer and Jennifer Beese, Executive Vice President-Operations, Marketing and Leasing was promoted to the position of Executive Vice President and Chief Operating Officer. Credit Agreement : On January 11, 2017, the Company entered into the Fifth Amended and Restated Credit Agreement (the “Agreement”). Pursuant to the Agreement, the Company increased the size of its existing unsecured revolving credit facility to $700 million , such that, when combined with the Company's existing $150 million Term Loan I Facility, the Company will have an aggregate unsecured credit facility of $850 million , which may be expanded by up to an additional $500 million upon the satisfaction of certain conditions. In connection with the Agreement, the maturity date of the revolving credit facility was extended from March 1, 2018 to March 15, 2022. The maturity date for the Term Loan I Facility will remain the same at January 29, 2021. The Agreement provides for the interest rate on each loan at a variable rate, at the Company's option, based upon a base rate or one-, two-, three-, or six-month LIBOR plus, in each case a spread based upon the Company's investment grade rating. In addition, the agreement included amendments to certain covenants, which include, among other things, the removal of certain provisions such as the minimum consolidated net worth requirement and the restriction on dividends in relation to Funds from Operations (“FFO”). The agreement also includes additional covenants such as a minimum consolidated total asset value. Distributions : On January 25, 2017 , the Company declared a distribution per share of $0.42 which was paid on February 17, 2017 to all common stockholders of record as of February 6, 2017 . At the same time, the Operating Partnership paid an equivalent amount per unit to holders of Common Units, as well as the quarterly cumulative preferential distribution to holders of Series A Preferred Units (see Note 9 ).

Schedule of Real Estate and Acc

Schedule of Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule of Real Estate and Accumulated Depreciation	Schedule of Real Estate and Accumulated Depreciation Initial Cost Total Costs Units Beds Land Buildings and Improvements and Furniture, Fixtures and Equipment Costs Capitalized Subsequent to Acquisition / Initial Development Land Buildings and Improvements and Furniture, Fixtures and Equipment Total (1) Accumulated Depreciation Encumbrances (2) Year Built (3) Wholly-Owned Properties The Callaway House 173 538 $ 5,081 $ 20,499 $ 9,785 $ 5,081 $ 30,284 $ 35,365 $ 12,847 $ — 1999 The Village at Science Drive 192 732 4,673 19,021 4,221 4,673 23,242 27,915 9,317 — 2000 University Village at Boulder Creek 82 309 1,035 16,393 1,829 1,035 18,222 19,257 7,586 — 2002 University Village - Fresno 105 406 929 15,553 952 929 16,505 17,434 6,329 — 2004 University Village - Temple 220 749 — 41,119 2,793 — 43,912 43,912 15,318 — 2004 College Club Townhomes (4) 136 544 1,967 16,049 3,012 1,967 19,061 21,028 7,738 — 2002 University Club Apartments 94 376 1,416 11,848 1,843 1,416 13,691 15,107 5,077 — 1999 City Parc at Fry Street 136 418 1,902 17,678 2,129 1,902 19,807 21,709 7,067 — 2004 Entrada Real 98 363 1,475 15,859 2,449 1,475 18,308 19,783 5,784 — 2000 University Village at Sweethome 269 828 2,473 34,626 2,447 2,473 37,073 39,546 12,933 — 2005 University Village - Tallahassee (5) 217 716 4,322 26,225 5,248 4,322 31,473 35,795 10,200 — 1991 Royal Village Gainesville 118 448 2,386 15,153 1,962 2,386 17,115 19,501 5,694 — 1996 Royal Lexington 94 364 2,848 12,783 5,266 2,848 18,049 20,897 5,729 — 1994 Raiders Pass 264 828 3,877 32,445 3,430 3,877 35,875 39,752 11,453 — 2001 Aggie Station 156 450 1,634 18,821 1,648 1,634 20,469 22,103 6,311 — 2003 The Outpost - San Antonio 276 828 3,262 36,252 2,611 3,262 38,863 42,125 11,760 — 2005 Callaway Villas 236 704 3,903 32,286 1,352 3,903 33,638 37,541 10,673 — 2006 The Village on Sixth Avenue 248 752 2,763 22,480 3,388 2,763 25,868 28,631 8,329 — 1999 Newtown Crossing 356 942 7,013 53,597 1,978 7,013 55,575 62,588 16,662 — 2005 Olde Towne University Square 224 550 2,277 24,614 1,494 2,277 26,108 28,385 8,428 — 2005 Peninsular Place 183 478 2,306 16,559 1,154 2,306 17,713 20,019 5,942 — 2005 University Centre 234 838 — 77,378 3,666 — 81,044 81,044 22,224 — 2007 The Summit & Jacob Heights (5) 258 930 2,318 36,464 1,899 2,318 38,363 40,681 9,724 — 2004 GrandMarc Seven Corners 186 440 4,491 28,807 2,043 4,491 30,850 35,341 8,015 — 2000 Aztec Corner 180 606 17,460 32,209 1,748 17,460 33,957 51,417 8,436 — 2001 Tower at Third 188 375 1,145 19,128 11,450 1,267 30,456 31,723 8,425 — 1973 Willowtree Apartments and Tower (4) 473 851 9,807 21,880 3,749 9,807 25,629 35,436 7,272 — 1970 University Pointe 204 682 989 27,576 2,901 989 30,477 31,466 7,977 — 2004 University Trails 240 684 1,183 25,173 3,112 1,183 28,285 29,468 7,876 — 2003 Campus Trails 156 480 1,358 11,291 4,228 1,358 15,519 16,877 4,491 — 1991 Vista del Sol (ACE) 613 1,866 — 135,939 3,446 — 139,385 139,385 34,861 — 2008 Villas at Chestnut Ridge 196 552 2,756 33,510 1,165 2,756 34,675 37,431 8,918 — 2008 Barrett Honors College (ACE) 604 1,721 — 131,302 5,663 — 136,965 136,965 31,588 — 2009 Sanctuary Lofts 201 487 2,960 18,180 3,435 2,960 21,615 24,575 5,729 — 2006 Initial Cost Total Costs Units Beds Land Buildings and Improvements and Furniture, Fixtures and Equipment Costs Capitalized Subsequent to Acquisition / Initial Development Land Buildings and Improvements and Furniture, Fixtures and Equipment Total (1) Accumulated Depreciation Encumbrances (2) Year Built (3) Blanton Common 276 860 $ 3,788 $ 29,662 $ 2,216 $ 3,788 $ 31,878 $ 35,666 $ 6,332 $ 27,516 2005 The Edge- Charlotte 180 720 3,076 23,395 8,518 3,076 31,913 34,989 6,088 — 1999 University Walk 120 480 2,016 14,599 2,758 2,016 17,357 19,373 3,862 — 2002 Uptown Apartments 180 528 3,031 21,685 1,907 3,031 23,592 26,623 4,562 — 2004 2nd Ave Centre 274 868 4,434 27,236 3,158 4,434 30,394 34,828 6,841 — 2008 Villas at Babcock 204 792 4,642 30,901 411 4,642 31,312 35,954 8,048 — 2011 Lobo Village (ACE) 216 864 — 42,490 710 — 43,200 43,200 7,627 — 2011 Villas on Sycamore 170 680 3,000 24,640 687 3,000 25,327 28,327 6,835 — 2011 University Village Northwest (ACE) 36 144 — 4,228 52 — 4,280 4,280 965 — 2011 26 West 367 1,026 21,396 63,994 6,002 21,396 69,996 91,392 11,277 — 2008 The Varsity 258 901 11,605 108,529 2,090 11,605 110,619 122,224 15,848 — 2011 Avalon Heights 210 754 4,968 24,345 8,034 4,968 32,379 37,347 5,045 — 2002 University Commons 164 480 12,559 19,010 2,479 12,559 21,489 34,048 3,348 — 2003 Casas del Rio (ACE) 283 1,028 — 40,639 650 — 41,289 41,289 10,286 — 2012 The Suites (ACE) (4) 439 878 — 45,296 410 — 45,706 45,706 7,401 — 2013 Hilltop Townhomes (ACE) 144 576 — 31,507 317 — 31,824 31,824 6,527 — 2012 U Club on Frey (4) 216 864 8,703 36,873 378 8,703 37,251 45,954 6,105 — 2013 Campus Edge on UTA Boulevard 128 488 2,661 21,233 441 2,661 21,674 24,335 4,432 — 2012 U Club Townhomes on Marion Pugh 160 640 6,722 26,546 697 6,722 27,243 33,965 5,834 — 2012 Villas on Rensch 153 610 10,231 33,852 494 10,231 34,346 44,577 6,493 — 2012 The Village at Overton Park 163 612 5,262 29,374 382 5,262 29,756 35,018 6,183 — 2012 Casa de Oro (ACE) 109 365 — 12,362 102 — 12,464 12,464 2,782 — 2012 The Villas at Vista del Sol (ACE) 104 400 — 20,421 261 — 20,682 20,682 4,663 — 2012 The Block 669 1,555 22,270 141,430 9,175 22,270 150,605 172,875 18,175 — 2008 University Pointe at College Station (ACE) 282 978 — 84,657 1,473 — 86,130 86,130 17,950 — 2012 309 Green 110 416 5,351 49,987 2,172 5,351 52,159 57,510 6,820 30,816 2008 The Retreat 187 780 5,265 46,236 1,999 5,265 48,235 53,500 6,344 — 2012 Lofts54 43 172 430 14,741 960 430 15,701 16,131 2,221 10,610 2008 Campustown Rentals 264 746 2,382 40,190 3,604 2,382 43,794 46,176 6,617 — 1982 Chauncey Square 158 386 2,522 40,013 1,495 2,522 41,508 44,030 5,592 — 2011 Vintage & Texan West Campus (4) 124 311 5,937 11,906 15,304 5,937 27,210 33,147 3,426 8,549 2008 The Castilian 371 623 3,663 59,772 33,045 3,663 92,817 96,480 11,438 — 1967 Bishops Square 134 315 1,206 17,878 1,190 1,206 19,068 20,274 2,892 11,377 2002 Union 54 120 169 6,348 745 169 7,093 7,262 1,041 3,536 2006 922 Place 132 468 3,363 34,947 2,993 3,363 37,940 41,303 5,522 30,909 2009 Campustown 452 1,217 1,818 77,894 3,406 1,818 81,300 83,118 10,382 — 1997 River Mill 243 461 1,741 22,806 3,001 1,741 25,807 27,548 3,668 — 1972 Initial Cost Total Costs Units Beds Land Buildings and Improvements and Furniture, Fixtures and Equipment Costs Capitalized Subsequent to Acquisition / Initial Development Land Buildings and Improvements and Furniture, Fixtures and Equipment Total (1) Accumulated Depreciation Encumbrances (2) Year Built (3) Landmark 173 606 $ 3,002 $ 118,168 $ 833 $ 3,002 $ 119,001 $ 122,003 $ 14,272 $ — 2012 Icon Plaza 56 253 6,292 65,857 3,030 6,292 68,887 75,179 8,323 — 2012 The Province - Greensboro 219 696 2,226 48,567 808 2,226 49,375 51,601 6,657 28,129 2011 RAMZ Apts on Broad 88 172 785 12,303 493 785 12,796 13,581 1,687 — 2004 The Lofts at Capital Garage 36 144 313 3,581 471 313 4,052 4,365 635 — 2000 25 Twenty 249 562 2,226 33,429 880 2,226 34,309 36,535 5,203 26,153 2011 The Province - Louisville 366 858 4,392 63,068 1,156 4,392 64,224 68,616 8,905 36,666 2009 West 27th Place 161 475 13,900 76,720 940 13,900 77,660 91,560 9,243 38,179 2011 The Province - Rochester 336 816 3,798 70,955 1,956 3,798 72,911 76,709 9,854 34,363 2010 5 Twenty Four & 5 Twenty Five Angliana (4) 376 1,060 — 60,448 1,326 — 61,774 61,774 8,654 25,421 2010 The Province - Tampa 287 947 — 52,943 2,488 — 55,431 55,431 7,768 32,273 2009 U Point Kennesaw 216 795 1,482 61,654 4,131 1,482 65,785 67,267 9,492 — 2012 The Cottages of Durham 141 619 3,955 41,421 1,876 3,955 43,297 47,252 7,067 — 2012 The Province - Dayton (7) 200 657 1,211 32,983 (3,866 ) 1,211 29,117 30,328 4,978 — 2009 University Edge 201 608 4,500 26,385 995 4,500 27,380 31,880 3,467 — 2012 The Lodges of East Lansing phase I & II 364 1,049 6,472 89,231 1,128 6,472 90,359 96,831 11,392 29,678 2012 7th Street Station 82 309 9,792 16,472 442 9,792 16,914 26,706 2,203 — 2012 U Club on Woodward 112 448 6,703 21,654 209 6,703 21,863 28,566 3,220 — 2013 The Callaway House Austin 219 753 — 61,550 294 — 61,844 61,844 8,441 — 2013 Manzanita (ACE) 241 816 — 48,781 251 — 49,032 49,032 7,278 — 2013 University View (ACE) 96 336 — 14,683 136 — 14,819 14,819 2,169 — 2013 U Club Townhomes at Overton Park 112 448 7,775 21,483 266 7,775 21,749 29,524 3,143 — 2013 601 Copeland 81 283 1,457 26,699 184 1,457 26,883 28,340 3,246 — 2013 The Townhomes at Newtown Crossing 152 608 7,745 32,074 376 7,745 32,450 40,195 3,926 — 2013 Chestnut Square (ACE) 220 861 — 98,369 2,088 — 100,457 100,457 12,656 — 2013 Park Point 300 924 7,827 73,495 3,867 7,827 77,362 85,189 8,917 70,000 2008 U Centre at Fry Street 194 614 2,902 47,700 1,293 2,902 48,993 51,895 4,969 — 2012 Cardinal Towne 255 545 6,547 53,809 2,189 6,547 55,998 62,545 5,426 37,250 2010 The Standard 190 610 4,674 57,310 834 4,674 58,144 62,818 4,187 — 2014 Stanworth Commons Phase I (ACE) 127 214 — 30,930 17 — 30,947 30,947 2,622 — 2014 The Plaza on University 364 1,313 23,987 85,584 3,118 23,987 88,702 112,689 8,247 — 2014 U Centre at Northgate (ACE) 196 784 — 35,663 144 — 35,807 35,807 3,555 — 2014 University Walk 177 526 4,341 29,073 613 4,341 29,686 34,027 2,004 — 2014 Park Point 66 226 — 25,725 3,182 — 28,907 28,907 1,402 11,261 2010 1200 West Marshall 136 406 4,397 33,908 1,441 4,397 35,349 39,746 2,075 — 2013 8 1/2 Canal Street 160 540 2,797 45,394 1,274 2,797 46,668 49,465 2,502 — 2011 Vistas San Marcos 255 600 586 45,761 4,395 586 50,156 50,742 3,596 — 2013 Initial Cost Total Costs Units Beds Land Buildings and Improvements and Furniture, Fixtures and Equipment Costs Capitalized Subsequent to Acquisition / Initial Development Land Buildings and Improvements and Furniture, Fixtures and Equipment Total (1) Accumulated Depreciation Encumbrances (2) Year Built (3) Crest at Pearl 141 343 $ 4,395 $ 36,268 $ 858 $ 4,395 $ 37,126 $ 41,521 $ 1,905 $ — 2014 U Club Binghamton 186 710 3,584 48,559 1,694 3,584 50,253 53,837 2,262 — 2005 Stadium Centre 367 710 7,424 74,932 2,042 7,424 76,974 84,398 3,759 56,944 2014 160 Ross 182 642 2,962 38,478 189 2,962 38,667 41,629 2,188 — 2015 U Club on Woodward Phase II 124 496 9,647 25,328 81 9,647 25,409 35,056 1,492 — 2015 The Summit at University City (ACE) 351 1,315 — 154,770 466 — 155,236 155,236 6,698 — 2015 2125 Franklin 192 734 8,299 55,716 202 8,299 55,918 64,217 2,598 — 2015 University Crossings - Charlotte 187 546 645 36,838 2,899 645 39,737 40,382 417 — 2014 U Point 54 163 1,425 17,325 872 1,425 18,197 19,622 136 — 2016 The Court at Stadium Centre 80 260 1,825 25,884 18 1,825 25,902 27,727 338 10,012 2016 U Club on 28th 100 398 9,725 44,907 18 9,725 44,925 54,650 595 — 2016 Currie Hall (ACE) 178 456 — 49,836 18 — 49,854 49,854 768 — 2016 University Pointe (ACE) 134 531 — 44,007 18 — 44,025 44,025 590 — 2016 Fairview House (ACE) 107 633 — 37,620 18 — 37,638 37,638 654 — 2016 U Club Sunnyside 134 534 7,423 41,748 17 7,423 41,765 49,188 626 — 2016 Merwick Stanworth Phase II (ACE) 198 379 — 48,978 18 — 48,996 48,996 617 — 2016 University Crossings (ACE) 260 1,016 — 50,668 38,810 — 89,478 89,478 18,897 — 2003 Properties Under Development (8) — Arizona State University Residence Hall (ACE) 429 1,594 — 67,725 — — 67,725 67,725 — — 2017 Sky View (ACE) 163 626 — 31,189 — — 31,189 31,189 — — 2017 University Square (ACE) 143 466 — 14,778 — — 14,778 14,778 — — 2017 U Centre on Turner 182 718 14,000 36,036 — 14,000 36,036 50,036 — — 2017 U Pointe on Speight 180 700 4,705 22,543 — 4,705 22,543 27,248 — — 2017 21Hundred Overton Park 296 1,204 16,767 43,781 — 16,767 43,781 60,548 — — 2017 Suites at 3rd 63 251 831 10,395 — 831 10,395 11,226 — — 2017 U Club Binghamton II 140 562 12,274 23,407 — 12,274 23,407 35,681 — — 2017 Callaway House Apartments 386 915 12,651 39,490 — 12,651 39,490 52,141 — — 2017 U Centre on College 127 418 — 25,408 — — 25,408 25,408 — — 2017 Bancroft Residence Hall (ACE) 412 781 — 11,286 — — 11,286 11,286 — — 2018 Virginia Commonwealth University (ACE) 592 1,524 — 14,020 — — 14,020 14,020 — — 2018 Butler University Phase II (ACE) 197 648 — 2,416 — — 2,416 2,416 — — 2018 The Edge at Stadium Centre 111 412 — 1,923 — — 1,923 1,923 — — 2018 Undeveloped land parcels — — 38,468 — — 38,468 — 38,468 — — N/A Subtotal 28,987 90,107 $ 569,354 $ 5,420,408 $ 326,708 $ 569,476 $ 5,746,994 $ 6,316,470 $ 864,106 $ 559,642 On-Campus Participating Properties University Village – PVAMU 612 1,920 $ — $ 36,506 $ 8,804 $ — $ 45,310 $ 45,310 $ 32,442 $ 16,501 1997 University College - PVAMU 756 1,470 — 22,650 5,977 — 28,627 28,627 17,906 14,845 2001 Initial Cost Total Costs Units Beds Land Buildings and Improvements and Furniture, Fixtures and Equipment Costs Capitalized Subsequent to Acquisition / Initial Development Land Buildings and Improvements and Furniture, Fixtures and Equipment Total (1) Accumulated Depreciation Encumbrances (2) Year Built (3) University Village - TAMIU 84 250 $ — $ 5,844 $ 1,371 $ — $ 7,215 $ 7,215 $ 5,223 $ 2,524 1997 Cullen Oaks Phase I and II 411 879 — 33,910 4,050 — 37,960 37,960 17,334 28,584 2003 College Park 224 567 — 43,634 183 — 43,817 43,817 4,227 43,078 2014 Subtotal 2,087 5,086 $ — $ 142,544 $ 20,385 $ — $ 162,929 $ 162,929 $ 77,132 $ 105,532 Total 31,074 95,193 $ 569,354 $ 5,562,952 $ 347,093 $ 569,476 $ 5,909,923 $ 6,479,399 $ 941,238 $ 665,174 (1) Total aggregate costs for federal income tax purposes is approximately $6.5 billion . (2) Total encumbrances exclude net unamortized debt premiums and deferred financing costs of approximately $26.8 million and $3.8 million , respectively, as of December 31, 2016 . (3) For properties with multiple phases, the year built represents the weighted average year based on the number of beds delivered each year. (4) Consists of two phases that are counted separately in the property portfolio numbers contained in Note 1 . (5) Consists of three phases that are counted separately in the property portfolio numbers contained in Note 1 . (6) This property was classified as held for sale as of December 31, 2016 (see Note 6 ). (7) Initial costs represent construction costs incurred to date associated with the development of these properties. Year built represents the scheduled completion date. The changes in the Company’s investments in real estate and related accumulated depreciation for each of the years ended December 31, 2016 , 2015 and 2014 are as follows: For the Year Ended December 31, 2016 2015 2014 Wholly- (1) (2) On-Campus (3) Wholly- (1) (4) On-Campus (3) Wholly- (1) (5) On-Campus (3) Investments in Real Estate: Balance, beginning of year $ 6,369,747 $ 159,985 $ 6,144,242 $ 157,043 $ 5,742,971 $ 130,705 Acquisition of land for development 6,338 — 39,583 — 3,627 — Acquisition of properties 99,426 — 361,265 — 71,269 — Improvements and development expenditures 522,723 2,944 306,659 2,942 361,369 26,338 Write off of fully depreciated or damaged assets (227 ) — (1,240 ) — (1,853 ) — Provision for real estate impairment (4,895 ) — — — (2,443 ) — Disposition of real estate (676,642 ) — (480,762 ) — (30,698 ) — Balance, end of year $ 6,316,470 $ 162,929 $ 6,369,747 $ 159,985 $ 6,144,242 $ 157,043 Accumulated Depreciation: Balance, beginning of year $ (792,122 ) $ (69,856 ) $ (704,521 ) $ (62,915 ) $ (529,555 ) $ (57,249 ) Depreciation for the year (197,105 ) (7,276 ) (191,661 ) (6,941 ) (182,756 ) (5,666 ) Write off of fully depreciated or damaged assets 227 — 1,240 — 1,281 — Disposition of properties 124,894 — 102,820 — 6,509 — Balance, end of year $ (864,106 ) $ (77,132 ) $ (792,122 ) $ (69,856 ) $ (704,521 ) $ (62,915 ) (1) Includes owned off-campus properties and owned on-campus properties. (2) The investments in real estate and accumulated depreciation balances include The Province-Dayton which is classified as a wholly-owned property held for sale in the accompanying consolidated balance sheets as of December 31, 2016 . (3) Includes on-campus participating properties. (4) The investments in real estate and accumulated depreciation balances include The Edge - Orlando and University Village Sacramento which are classified as wholly-owned properties held for sale in the accompanying consolidated balance sheets as of December 31, 2015 . (5) The investments in real estate and accumulated depreciation balances include The Highlands, Chapel Ridge, Chapel View, University Place, The Village at Alafaya Club, The View and University Greens, which were classified as wholly-owned properties held for sale as of December 31, 2014 .

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Real Estate Properties [Line Items]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements, presented in U.S. dollars, are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements, and revenue and expenses during the reporting periods. The Company's actual results could differ from those estimates and assumptions. All material intercompany transactions among consolidated entities have been eliminated. All dollar amounts in the tables herein, except share, per share, unit and per unit amounts, are stated in thousands unless otherwise indicated.
Recently Issued and Adopted Accounting Pronouncements	Recently Issued Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2017-1 (“ASU 2017-1”), “Business Combinations: Clarifying the Definition of a Business.” The amendments in this guidance clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The guidance is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted only for previously unreported transactions. The Company plans to adopt ASU 2017-1 as of January 1, 2017 and expects that most property acquisitions will be accounted for as asset acquisitions, and as a result, most transaction costs will be capitalized rather than expensed. In November 2016, the FASB issued Accounting Standards Update 2016-18 (“ASU 2016-18”), “Statement of Cash Flows: Restricted Cash.” The amendments in this update require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The guidance is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing whether ASU 2016-18 will have a material effect on its consolidated statements of cash flows. In August 2016, the FASB issued Accounting Standards Update 2016-15 (“ASU 2016-15”), “Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments.” The amendments in this update provide guidance on eight specific cash flow issues where there is diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The guidance is effective for public business entities for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted. The Company is currently assessing whether ASU 2016-15 will have a material effect on its consolidated statements of cash flows. In June 2016, the FASB issued Accounting Standards Update 2016-13 (“ASU 2016-13”), “Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments.” The standard requires entities to estimate a lifetime expected credit loss for most financial assets, including trade and other receivables, held-to-maturity debt securities, loans and other financial instruments, and to present the net amount of the financial instrument expected to be collected. The guidance is effective for public business entities for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption for the fiscal years beginning after December 15, 2018 is permitted. The Company is currently assessing whether ASU 2016-13 will have a material effect on its consolidated financial statements and related disclosures. In March 2016, the FASB issued Accounting Standards Update 2016-05 (“ASU 2016-05”), “Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships.” The amendments in this guidance clarify that a change in the counterparty to a derivative instrument that has been designated as a hedging instrument under Topic 815 does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those fiscal years. Early adoption is permitted. The Company plans to adopt ASU 2016-05 as of January 1, 2017 and does not expect it to have a material impact on its consolidated financial statements. In February 2016, the FASB issued Accounting Standards Update 2016-02 (“ASU 2016-02”), “Leases: Amendments to the FASB Accounting Standards Codification.” ASU 2016-02 amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. With the adoption of ASU 2016-02, certain executory costs, recoveries and other components of revenue currently accounted for as lease components could be considered non-lease components subject to ASU 2014-09. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance is effective for public business entities for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. The Company plans to adopt ASU 2016-02 as of January 1, 2019. While the Company is still evaluating the effect that the updated standard will have on its consolidated financial statements and related disclosures, it expects to recognize right-of-use assets and related lease liabilities on its consolidated balance sheets related to ground leases under which it is the lessee. In May 2014, the FASB issued Accounting Standards Update 2014-09 (“ASU 2014-09”), “Revenue From Contracts With Customers”. ASU 2014-09 provides a single comprehensive revenue recognition model for contracts with customers (excluding certain contracts, such as lease contracts) to improve comparability within industries. ASU 2014-09 requires an entity to recognize revenue to reflect the transfer of goods or services to customers at an amount the entity expects to be paid in exchange for those goods and services and provide enhanced disclosures, all to provide more comprehensive guidance for transactions such as service revenue and contract modifications. Subsequent to the issuance of ASU 2014-09, the FASB has issued multiple Accounting Standards Updates clarifying multiple aspects of the new revenue recognition standard, which include the deferral of the effective date by one year, and additional guidance for partial sales of non-financial assets. ASU 2014-09, as amended by subsequent Accounting Standards Updates, is effective for public entities for interim and annual periods beginning after December 15, 2017 and may be applied using either a full retrospective or modified retrospective approach upon adoption. The Company is currently evaluating each of its revenue streams to identify any differences in the timing, measurement or presentation of revenue recognition under the new standard, as well as evaluating methods of adoption. The Company does not expect the adoption of this standard to have a significant impact on its consolidated financial statements, as a substantial portion of its revenue consists of rental income from leasing arrangements, which is specifically excluded from ASU 2014-09, and will be evaluated with the adoption of the lease accounting standard, ASU 2016-02, discussed above. Additionally, the Company currently does not anticipate a material impact to its consolidated financial statements for property dispositions given the simplicity of the Company’s historical disposition transactions. The Company anticipates the primary effects of the new standard will be associated with the Company’s non-leasing revenue streams, which represent less than 5% of consolidated total revenues. Recently Adopted Accounting Pronouncements In March 2016, the FASB issued Accounting Standards Update 2016-09 (“ASU 2016-09”), “Improvements to Employee Share-Based Payment Accounting.” The updated guidance changes how companies account for certain aspects of share-based payment awards to employees, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016 and interim periods within those fiscal years. Early adoption is permitted. The Company adopted ASU 2016-09 as of January 1, 2016. ASU 2016-09 did not have a material impact on the Company's consolidated financial statements. Refer to the accompanying consolidated statements of cash flows for details on the impact of the reclassification of taxes paid on net-share settlements from operating to financing activities. On January 1, 2016, the Company adopted Accounting Standards Update 2015-16 (“ASU 2015-16”), “Simplifying the Accounting for Measurement-Period Adjustments.” Under the new guidance, the Company will no longer recognize a measurement-period adjustment retroactively in a business combination. Instead, measurement-period adjustments will be recognized during the period in which the amount of the adjustment is determined. The adoption of ASU 2015-16 did not have a material impact on the Company’s consolidated financial statements. On January 1, 2016, the Company adopted Accounting Standards Update 2015-03 (“ASU 2015-03”), “Simplifying the Presentation of Debt Issuance Costs.” The impact of adopting ASU 2015-03 on the Company’s consolidated financial statements was the reclassification of deferred financing costs previously included in “other assets” to “secured mortgage, construction and bond debt”, “unsecured notes” and “unsecured term loans” within its consolidated balance sheets for all periods presented (see Note 10 ). Other than these reclassifications, the adoption of ASU 2015-03 did not have an impact on the Company’s consolidated financial statements. On January 1, 2016, the Company adopted Accounting Standards Update 2015-02 (“ASU 2015-02”), “Amendments to the Consolidation Analysis.” The new guidance changed the analysis a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The guidance did not amend the existing disclosure requirements for Variable Interest Entities (“VIEs”) or voting interest model entities. The guidance, however, modified the requirements to qualify under the voting interest model and eliminated the presumption that a general partner should consolidate a limited partnership. Under the revised guidance, ACCOP was determined to be a VIE. As ACCOP was already included in the consolidated financial statements of the Company, the identification of this entity as a VIE had no impact on its consolidated financial statements. There were no other legal entities qualifying under the scope of the revised guidance that were consolidated as a result of the adoption of this guidance.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Investments in Real Estate and On-Campus Participating Properties	Investments in Real Estate Investments in real estate are recorded at historical cost. Major improvements that extend the life of an asset are capitalized and depreciated over the remaining useful life of the asset. The cost of ordinary repairs and maintenance are charged to expense when incurred. Depreciation and amortization are recorded on a straight-line basis over the estimated useful lives of the assets as follows: Buildings and improvements 7-40 years Leasehold interest - on-campus participating properties 25-34 years (shorter of useful life or respective lease term) Furniture, fixtures and equipment 3-7 years Project costs directly associated with the development and construction of an owned real estate project, which include interest, property taxes, and amortization of deferred finance costs, are capitalized as construction in progress. Upon completion of the project, costs are transferred into the applicable asset category and depreciation commences. Interest totaling approximately $12.3 million , $9.6 million and $8.8 million was capitalized during the years ended December 31, 2016 , 2015 and 2014 , respectively. Management assesses whether there has been an impairment in the value of the Company’s investments in real estate whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Impairment is recognized when estimated expected future undiscounted cash flows are less than the carrying value of the property, or when a property meets the criteria to be classified as held for sale, at which time an impairment charge is recognized for any excess of the carrying value of the property over the expected net proceeds from the disposal. The estimation of expected future net cash flows is inherently uncertain and relies on assumptions regarding current and future economics and market conditions. If such conditions change, then an adjustment to the carrying value of the Company’s long-lived assets could occur in the future period in which the conditions change. To the extent that a property is impaired, the excess of the carrying amount of the property over its estimated fair value is charged to earnings. The Company believes that there were no impairments of the carrying values of its investments in real estate as of December 31, 2016 , other than an impairment charge recorded for one property classified as held for sale as of December 31, 2016 (see Note 6 ). The Company allocates the purchase price of acquired properties to net tangible and identified intangible assets based on relative fair values. Fair value estimates are based on information obtained from a number of sources, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property, the Company's own analysis of recently acquired and existing comparable properties in the Company's portfolio, and other market data. Information obtained about each property as a result of due diligence, marketing and leasing activities is also considered. The value allocated to land is generally based on the actual purchase price if acquired separately, or market research/comparables if acquired as part of an existing operating property. The value allocated to building is based on the fair value determined on an “as-if vacant” basis, which is estimated using a replacement cost approach that relies upon assumptions that the Company believes are consistent with current market conditions for similar properties. The value allocated to furniture, fixtures, and equipment is based on an estimate of the fair value of the appliances and fixtures inside the units. The Company has determined these estimates to have been primarily based upon unobservable inputs and therefore are considered to be Level 3 inputs within the fair value hierarchy. The Company records the acquisition of undeveloped land parcels and properties under development that do not meet the accounting criteria to be accounted for as business combinations at the purchase price paid and capitalizes the associated acquisition costs.
Long-Lived Assets-Held for Sale	Long-Lived Assets–Held for Sale Long-lived assets to be disposed of are classified as held for sale in the period in which all of the following criteria are met: a. Management, having the authority to approve the action, commits to a plan to sell the asset. b. The asset is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets. c. An active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated. d. The sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale, within one year. e. The asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value. f. Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Concurrent with this classification, the asset is recorded at the lower of cost or fair value less estimated selling costs, and depreciation ceases. As discussed in more detail in Note 6 , concurrent with the classification of one of the Company's wholly-owned properties as held for sale, the Company reduced the property's carrying amount to its estimated fair value less estimated selling costs which resulted in an impairment charge.
Discontinued Operations	Discontinued Operations A discontinued operation represents (i) a component of an entity or group of components that has been disposed of or is classified as held for sale in a single transaction and represents a strategic shift that has or will have a major effect on an entity's operations and financial results; or (ii) an acquired business that is classified as held for sale on the date of acquisition. A strategic shift could include a disposal of (i) a separate major line of business; (ii) a separate major geographic area of operations; (iii) a major equity method investment; or (iv) other major parts of an entity. The Company classifies disposals of real estate that do not meet the definition of a discontinued operation within income from continuing operations in the accompanying consolidated statements of comprehensive income.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The Company maintains cash balances in various banks. At times, the Company’s balances may exceed the amount insured by the FDIC. As the Company only uses money-centered financial institutions, the Company does not believe it is exposed to any significant credit risk related to its cash and cash equivalents.
Restricted Cash	Restricted Cash Restricted cash consists of funds held in trust and invested in low risk investments, generally consisting of government backed securities, as permitted by the indentures of trusts, which were established in connection with three bond issues for the Company's on-campus participating properties. Additionally, restricted cash includes escrow accounts held by lenders and resident security deposits, as required by law in certain states. Restricted cash also consists of escrow deposits made in connection with potential property acquisitions and development opportunities. These escrow deposits are invested in interest-bearing accounts at federally-insured banks.
Loans Receivable	Loans Receivable Loans held for investment are intended to be held to maturity and, accordingly, are carried at cost, net of unamortized loan purchase discounts, and net of an allowance for loan losses when such loan is deemed to be impaired. Loan purchase discounts are amortized over the term of the loan. The unamortized discount on the loans receivable was $2.8 million and $3.0 million as of December 31, 2016 and 2015 , respectively. The Company considers a loan impaired when, based upon current information and events, it is probable that it will be unable to collect all amounts due for both principal and interest according to the contractual terms of the loan agreement.
Intangible Assets	Intangible Assets A portion of the purchase price of acquired properties is allocated to the value of in-place leases for both student and commercial tenants, which is based on the difference between (i) the property valued with existing in-place leases adjusted to market rental rates and (ii) the property valued “as-if” vacant. As lease terms for student leases are typically one year or less, rates on in-place leases generally approximate market rental rates. Factors considered in the valuation of in-place leases include an estimate of the carrying costs during the expected lease-up period considering current market conditions, nature of the tenancy, and costs to execute similar leases. Carrying costs include estimates of lost rentals at market rates during the expected lease-up period, as well as marketing and other operating expenses. The value of in-place leases is amortized over the remaining initial term of the respective leases. The purchase price of property acquisitions is not allocated to student tenant relationships, considering the terms of the leases and the expected levels of renewals.
Deferred Financing Costs	Deferred Financing Costs The Company defers financing costs and amortizes the costs over the terms of the related debt using the effective-interest method. Upon repayment of or in conjunction with a material change in the terms of the underlying debt agreement, any unamortized costs are charged to earnings. In those instances when debt modifications do not include material changes to the terms of the underlying debt agreement, unamortized costs of the original instrument are added to the costs of the modification and amortized over the life of the modified debt using the effective interest method. Deferred financing costs, net of amortization, for the Company's revolving credit facility are included in other assets on the accompanying consolidated balance sheets. Net deferred financing costs for the Company's revolving credit facility at December 31, 2016 and 2015 were approximately $1.4 million and $2.7 million , respectively. On January 1, 2016, the Company adopted ASU 2015-03, as discussed above, and as a result, deferred financing costs associated with secured mortgage, construction and bond debt, unsecured notes, and unsecured term loans are presented as a direct reduction to the carrying value of the debt (see Note 10 ).
Joint Ventures	Joint Ventures The Company holds interests in both consolidated and unconsolidated joint ventures. The Company consolidates joint ventures when it exhibits financial or operational control, which is determined using accounting standards related to the consolidation of joint ventures and VIEs. For joint ventures that are defined as VIEs, the primary beneficiary consolidates the entity. The Company considers itself to be the primary beneficiary of a VIE when it has the power to direct the activities that most significantly impact the performance of the VIE, such as management of day-to-day operations, preparing and approving operating and capital budgets, and encumbering or selling the related properties. In instances where the Company is not the primary beneficiary, it does not consolidate the joint venture for financial reporting purposes. For joint ventures that are not defined as VIEs, where the Company is the general partner, but does not control the joint venture as the other partners hold substantive participating rights, the Company uses the equity method of accounting. For joint ventures where the Company is a limited partner, management evaluates whether the Company holds substantive participating rights. In instances where the Company holds substantive participating rights in the joint venture, the Company consolidates the joint venture; otherwise it uses the equity method of accounting.
Mortgage Debt - Premiums and Discounts	Mortgage Debt - Premiums and Discounts Mortgage debt premiums and discounts represent fair value adjustments to account for the difference between the stated rates and market rates of mortgage debt assumed in connection with the Company’s property acquisitions. The mortgage debt premiums and discounts are included in secured mortgage, construction, and bond debt on the accompanying consolidated balance sheets and are amortized to interest expense over the term of the related mortgage loans using the effective-interest method.
Rental Revenues and Related Receivables	Rental Revenues and Related Receivables Students are required to execute lease contracts with payment schedules that vary from single to monthly payments. Receivables are recorded when billed, revenues and related lease incentives are recognized on a straight-line basis over the term of the contracts, and balances are considered past due when payment is not received on the contractual due date. The Company generally requires each executed contract to be accompanied by a signed parental guaranty, and in certain cases a refundable security deposit. Security deposits are refundable, net of any outstanding charges, upon expiration of the underlying contract. Allowances for receivables are established when management determines that collection of such receivables is doubtful. Management's determination of the adequacy of the allowances is based primarily on an analysis of the aging of receivables, historical bad debts, and current economic trends. When management has determined receivables to be uncollectible, which is typically after two years, they are removed as an asset with a corresponding reduction in the allowance for doubtful accounts.
Tenant Reimbursements	Tenant Reimbursements Reimbursements from tenants, consisting of amounts due from tenants for utilities, are recognized as revenue in the period the recoverable costs are incurred. Tenant reimbursements are recognized and recorded on a gross basis, as the Company is generally the primary obligor with respect to purchasing goods and services from third-party suppliers, has discretion in selecting the supplier, and has credit risk.
Third-Party Development Services Revenue and Costs	Third-Party Development Services Revenue and Costs Development revenues are generally recognized based on a proportional performance method based on contract deliverables, while construction revenues are recognized using the percentage of completion method, as determined by construction costs incurred relative to total estimated construction costs. Costs associated with such projects are deferred and recognized in relation to the revenues earned on executed contracts. For projects where the Company’s fee is based on a fixed price, any cost overruns incurred during construction, as compared to the original budget, will reduce the net fee generated on those projects. Incentive fees are recognized when the project is complete and performance has been agreed upon by all parties, or when performance has been verified by an independent third-party. The Company also evaluates the collectability of third-party fee income and expense reimbursements generated through the provision of development and construction management services based upon the individual facts and circumstances, including the contractual right to receive such amounts in accordance with the terms of the various projects, and reserves any amounts that are deemed to be uncollectible. Pre-development expenditures such as architectural fees, permits and deposits associated with the pursuit of third-party and owned development projects are expensed as incurred, until such time that management believes it is probable that the contract will be executed and/or construction will commence. Because the Company frequently incurs these pre-development expenditures before a financing commitment and/or required permits and authorizations have been obtained, the Company bears the risk of loss of these pre-development expenditures if financing cannot ultimately be arranged on acceptable terms or the Company is unable to successfully obtain the required permits and authorizations. As such, management evaluates the status of third-party and owned projects that have not yet commenced construction on a periodic basis and expenses any deferred costs related to projects whose current status indicates the commencement of construction is unlikely and/or the costs may not provide future value to the Company in the form of revenues. Such write-offs are included in third-party development and management services expenses (in the case of third-party development projects) or general and administrative expenses (in the case of owned development projects) on the accompanying consolidated statements of comprehensive income.
Third-Party Management Services Revenue	Third-Party Management Services Revenue Management fees are recognized when earned in accordance with each management contract. Incentive management fees are recognized when the incentive criteria have been met. The Company evaluates the collectability of revenue earned from third-party management contracts and reserves any amounts deemed to be uncollectible based on the individual facts and circumstances of the projects and associated contracts.
Advertising Costs	Advertising Costs Advertising costs are expensed during the period incurred, or as the advertising takes place, depending on the nature and term of the specific advertising arrangements.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities The Company records all derivative financial instruments on the balance sheet at fair value. Changes in fair value are recognized either in earnings or as other comprehensive income, depending on whether the derivative has been designated as a fair value or cash flow hedge and whether it qualifies as part of a hedging relationship, the nature of the exposure being hedged, and how effective the derivative is at offsetting movements in underlying exposure. The Company discontinues hedge accounting when: (i) it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of a hedged item; (ii) the derivative expires or is sold, terminated, or exercised; (iii) it is no longer probable that the forecasted transaction will occur; or (iv) management determines that designating the derivative as a hedging instrument is no longer appropriate. In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Company will carry the derivative at its fair value on the balance sheet, recognizing changes in the fair value in current-period earnings. The Company uses interest rate swaps to effectively convert a portion of its floating rate debt to fixed rate, thus reducing the impact of rising interest rates on interest payments. These instruments are designated as cash flow hedges and the interest differential to be paid or received is accrued as interest expense. The Company’s counter-parties are major financial institutions.
Common Stock Issuances and Costs	Common Stock Issuances and Costs Specific incremental costs directly attributable to the Company’s equity offerings are deferred and charged against the gross proceeds of the offering. As such, underwriting commissions and other common stock issuance costs are reflected as a reduction of additional paid in capital.
Share-Based Compensation	Share-Based Compensation Compensation expense associated with share-based awards is recognized in the consolidated statements of comprehensive income based on the grant-date fair values net of the estimated forfeitures. Compensation expense is recognized over the period during which the employee is required to provide service in exchange for the award, which is generally the vesting period.
Income Taxes	Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). To qualify as a REIT, the Company must meet a number of organizational and operational requirements, including a requirement that it currently distribute at least 90% of its adjusted taxable income to its stockholders. As a REIT, the Company will generally not be subject to corporate level federal income tax on taxable income it currently distributes to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income taxes at regular corporate rates (including any applicable alternative minimum tax) and may not be able to qualify as a REIT for the subsequent four taxable years. Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local income and excise taxes on its income and property, and to federal income and excise taxes on its undistributed income.
Owned On Campus Properties
Real Estate Properties [Line Items]
Investments in Real Estate and On-Campus Participating Properties	Owned On-Campus Properties Under its ACE program, the Company, as lessee, has entered into ground/facility lease agreements with thirteen university systems to finance, construct, and manage 28 student housing properties. Six properties were under construction as of December 31, 2016 with three scheduled to open for occupancy in Fall 2017 and three in Fall 2018. The terms of the leases, including extension options, range from 30 to 90 years, and the lessor has title to the land and generally any improvements placed thereon. The Company’s involvement in construction requires the lessor’s post construction ownership of the improvements to be treated as a sale with a subsequent leaseback by the Company. However, these sale-leaseback transactions do not qualify for sale-leaseback accounting because of the Company’s continuing involvement in the constructed assets. As a result of the Company’s continuing involvement, these leases are accounted for by the deposit method, in which the assets subject to the ground/facility leases are reflected at historical cost, less amortization, and the financing obligations are reflected at the terms of the underlying financing.
On-campus participating properties
Real Estate Properties [Line Items]
Investments in Real Estate and On-Campus Participating Properties	On-Campus Participating Properties The Company has entered into ground and facility leases with three university systems and colleges to finance, construct, and manage five on-campus student housing facilities. Under the terms of the leases, the lessor has title to the land and any improvements placed thereon. With the exception of the Company's lease with West Virginia University, each lease terminates upon final repayment of the construction related financing, the amortization period of which is contractually stipulated. The Company’s involvement in construction requires the lessor’s post construction ownership of the improvements to be treated as a sale with a subsequent leaseback by the Company. The sale-leaseback transaction has been accounted for as a financing, and as a result, any fee earned during construction is deferred and recognized over the term of the lease. The resulting financing obligation is reflected at the terms of the underlying financing, i.e., interest is accrued at the contractual rates and principal reduces in accordance with the contractual principal repayment schedules. The entities that own the on-campus participating properties are determined to be VIEs, with the Company being the primary beneficiary. As such, the Company consolidates these properties for financial reporting purposes.

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of estimated useful lives of assets	Depreciation and amortization are recorded on a straight-line basis over the estimated useful lives of the assets as follows: Buildings and improvements 7-40 years Leasehold interest - on-campus participating properties 25-34 years (shorter of useful life or respective lease term) Furniture, fixtures and equipment 3-7 years
Schedule of Amortization for all In-Place Leases and In-Place Property Tax Incentives	.
Schedule of allowance for doubtful accounts	The allowance for doubtful accounts is summarized as follows: Balance, Beginning of Period Charged to Expense Write-Offs Balance, End of Period Year ended December 31, 2014 $ 15,926 $ 10,894 $ (7,109 ) $ 19,711 Year ended December 31, 2015 $ 19,711 $ 10,115 $ (12,772 ) (1 ) $ 17,054 Year ended December 31, 2016 $ 17,054 $ 9,195 $ (9,794 ) (1 ) $ 16,455 (1) Write-offs include $3.1 million and $4.0 million related to properties disposed of during the years ended December 31, 2016 and 2015 , respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share Disclosure [Line Items]
Schedule of potentially dilutive securities not included in calculating diluted earnings per share	The following potentially dilutive securities were outstanding for the years ended December 31, 2016 , 2015 and 2014 , but were not included in the computation of diluted earnings per share because the effects of their inclusion would be anti-dilutive. Year Ended December 31, 2016 2015 2014 Common OP Units (Note 9) 1,231,500 — 1,213,509 Preferred OP Units (Note 9) 90,763 109,775 111,279 Total potentially dilutive securities 1,322,263 109,775 1,324,788
Schedule of summary of elements used in calculating basic earnings per share/unit	The following is a summary of the elements used in calculating basic and diluted earnings per share: Year Ended December 31, 2016 2015 2014 Numerator - basic earnings per share: Income from continuing operations $ 100,623 $ 118,061 $ 61,384 Income from continuing operations attributable to noncontrolling interests (1,562 ) (2,070 ) (1,231 ) Income from continuing operations attributable to common stockholders 99,061 115,991 60,153 Amount allocated to participating securities (1,338 ) (1,086 ) (1,076 ) Income from continuing operations attributable to common stockholders, net of amount allocated to participating securities 97,723 114,905 59,077 Income from discontinued operations — — 2,720 Income from discontinued operations attributable to noncontrolling interests — — (34 ) Income from discontinued operations attributable to common stockholders — — 2,686 Net income attributable to common stockholders - basic $ 97,723 $ 114,905 $ 61,763 Numerator - diluted earnings per share: Net income attributable to common stockholders - basic $ 97,723 $ 114,905 $ 61,763 Income allocated to Common OP Units — 1,282 — Net income attributable to common stockholders - diluted $ 97,723 $ 116,187 $ 61,763 Denominator: Basic weighted average common shares outstanding 129,228,748 111,987,361 105,032,155 Unvested Restricted Stock Awards (Note 12) 789,981 680,980 679,265 Common OP Units (Note 9) — 1,363,881 — Diluted weighted average common shares outstanding 130,018,729 114,032,222 105,711,420 Year Ended December 31, 2016 2015 2014 Earnings per share – basic: Income from continuing operations attributable to common stockholders, net of amount allocated to participating securities $ 0.76 $ 1.03 $ 0.56 Income from discontinued operations attributable to common stockholders $ — $ — $ 0.03 Net income attributable to common stockholders $ 0.76 $ 1.03 $ 0.59 Earnings per share – diluted: Income from continuing operations attributable to common stockholders, net of amount allocated to participating securities $ 0.75 $ 1.02 $ 0.56 Income from discontinued operations attributable to common stockholders $ — $ — $ 0.02 Net income attributable to common stockholders $ 0.75 $ 1.02 $ 0.58
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Earnings Per Share Disclosure [Line Items]
Schedule of potentially dilutive securities not included in calculating diluted earnings per share	The following is a summary of the elements used in calculating basic and diluted earnings per unit: Year Ended December 31, 2016 2015 2014 Numerator - basic and diluted earnings per unit: Income from continuing operations $ 100,623 $ 118,061 $ 61,384 Income from continuing operations attributable to noncontrolling interests - partially owned properties (456 ) (612 ) (352 ) Income from continuing operations attributable to Series A preferred units (146 ) (176 ) (175 ) Amount allocated to participating securities (1,338 ) (1,086 ) (1,076 ) Income from continuing operations attributable to common unitholders, net of amount allocated to participating securities 98,683 116,187 59,781 Income from discontinued operations — — 2,720 Income from discontinued operations attributable to Series A preferred units — — (3 ) Income from discontinued operations attributable to common unitholders — — 2,717 Net income attributable to common unitholders $ 98,683 $ 116,187 $ 62,498 Denominator: Basic weighted average common units outstanding 130,460,248 113,351,242 106,245,664 Unvested Restricted Stock Awards (Note 12) 789,981 680,980 679,265 Diluted weighted average common units outstanding 131,250,229 114,032,222 106,924,929 Year Ended December 31, 2016 2015 2014 Earnings per unit – basic: Income from continuing operations attributable to common unitholders, net of amount allocated to participating securities $ 0.76 $ 1.03 $ 0.56 Income from discontinued operations attributable to common unitholders $ — $ — $ 0.03 Net income attributable to common unitholders $ 0.76 $ 1.03 $ 0.59 Earnings per unit – diluted: Income from continuing operations attributable to common unitholders, net of amount allocated to participating securities $ 0.75 $ 1.02 $ 0.56 Income from discontinued operations attributable to common unitholders $ — $ — $ 0.02 Net income attributable to common unitholders $ 0.75 $ 1.02 $ 0.58

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of significant components of deferred tax assets and liabilities of TRSs	Significant components of the deferred tax assets and liabilities of the TRSs are as follows: December 31, 2016 2015 Deferred tax assets: Fixed and intangible assets $ 2,074 $ 2,663 Net operating loss carryforwards 9,492 7,887 Prepaid and deferred income 2,417 2,326 Bad debt reserves 754 725 Accrued expenses and other 5,251 4,578 Stock compensation 2,866 2,454 Total deferred tax assets 22,854 20,633 Valuation allowance for deferred tax assets (22,688 ) (20,431 ) Deferred tax assets, net of valuation allowance 166 202 Deferred tax liability: Deferred financing costs 166 202 Net deferred tax liabilities $ — $ —
Schedule of significant components of income tax provision	Significant components of the Company’s income tax provision are as follows: Year Ended December 31, 2016 2015 2014 Current: Federal $ — $ — $ — State (1,150 ) (1,242 ) (1,308 ) Deferred: Federal — — — State — — — Total provision - continuing operations $ (1,150 ) $ (1,242 ) $ (1,308 )
Schedule of reconciliation of income tax attributable to continuing operations for the TRSs computed at the U.S. statutory rate to income tax provision	The reconciliation of income tax attributable to continuing operations for the TRSs computed at the U.S. statutory rate to income tax provision is as follows: Year Ended December 31, 2016 2015 2014 Tax benefit at U.S. statutory rates on TRS income subject to tax $ 2,303 $ 2,019 $ 1,928 State income tax, net of federal income tax benefit 85 74 71 Effect of permanent differences and other (88 ) (77 ) (72 ) Increase in valuation allowance (2,300 ) (2,016 ) (1,927 ) TRS income tax provision $ — $ — $ —
Schedule of distributions to shareholders	A schedule of per share distributions the Company paid and reported to its shareholders, which is unaudited, is set forth in the following table: Year Ended December 31, Tax Treatment of Distributions: 2016 2015 2014 Ordinary income $ 0.3541 $ 0.4658 $ 0.9016 Long-term capital gain (1) 0.5145 0.5301 0.0107 Return of capital 0.7914 0.5841 0.5877 Total per common share outstanding $ 1.6600 $ 1.5800 $ 1.5000 (1) Unrecaptured Sec. 1250 gains of $0.5383 , $0.5281 and $0.0248 were reported for the years ended December 31, 2016 , the 2015 , and 2014 , respectively.

Property Acquisitions (Tables)

Property Acquisitions (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Schedule of recognized identified assets acquired and liabilities assumed	The following table summarizes the fair values of the assets acquired and liabilities assumed from the properties discussed above: 2016 2015 Assets acquired: Land $ 14,720 $ 26,766 Buildings and improvements 54,162 317,627 Furniture, fixtures and equipment 2,736 16,871 Construction in progress 27,806 — Intangible assets 4,442 16,976 Other assets — 3,117 Total assets acquired $ 103,866 $ 381,357 Liabilities assumed: Mortgage debt $ — $ (72,365 ) (1) Other liabilities (1,062 ) (3,457 ) Total liabilities assumed $ (1,062 ) $ (75,822 ) Net assets acquired $ 102,804 $ 305,535 (1) Balance includes $3.0 million in premiums recorded to reflect mortgage debt at acquisition date fair value.
Schedule of business acquisitions	During the year ended December 31, 2016 , the Company entered into a pre-sale agreement to purchase the following wholly-owned property under development. Total estimated development costs of approximately $42.6 million include the purchase price, elected upgrades, and capitalized transaction costs. Property Location Primary University Served Targeted Completion Date Beds The Edge at Stadium Centre Tallahassee, FL Florida State University August 2018 412 Total cash consideration of $40.7 million consisted of escrow deposits and cash paid at closing: Property Location Primary University Served Targeted Completion Date Acquisition Date Beds Callaway House Apartments Norman, OK University of Oklahoma August 2017 June 2016 915 U Centre on College Clemson, SC Clemson University August 2017 June 2016 418 1,333 During the year ended December 31, 2016 , the Company acquired two wholly-owned properties for approximately $63.1 million . Total cash consideration of $62.1 million consisted of escrow deposits and cash paid at closing: Property Location Primary University Served Acquisition Date Beds University Crossings Charlotte, NC University of North Carolina August 2016 546 U Point Syracuse, NY Syracuse University October 2016 163 709
Schedule of pro forma information	The unaudited pro forma information is provided for informational purposes only and is not indicative of results that would have occurred or which may occur in the future: Year Ended December 31, 2016 2015 2014 Total revenues $ 789,942 $ 769,797 $ 767,483 Net income attributable to common shareholders $ 99,941 $ 123,101 $ 69,374 Pre-sale Development Projects As part of its development strategy, the Company has entered into pre-sale agreements to purchase various properties. Under the terms of these agreements, the Company is obligated to purchase the property as long as certain construction completion deadlines and other closing conditions are met. The Company is typically responsible for leasing, management, and initial operations of the project while the third-party developer retains development risk during the construction period. The entity that owns the property is deemed to be a VIE, and the Company is deemed to be the primary beneficiary of the VIE. As such, upon execution of the purchase and sale agreement, the Company records the assets, liabilities and noncontrolling interest of the entity owning the property at fair value. During the year ended December 31, 2016 , the Company entered into a pre-sale agreement to purchase the following wholly-owned property under development. Total estimated development costs of approximately $42.6 million include the purchase price, elected upgrades, and capitalized transaction costs. Property Location Primary University Served Targeted Completion Date Beds The Edge at Stadium Centre Tallahassee, FL Florida State University August 2018 412 During 2015 , the Company entered into a pre-sale agreement to purchase The Court, a wholly-owned property under development for $26.5 million . The property opened for operations in August 2016. The closing of the transaction occurred in May 2016 and was accounted for as an increase in ownership of a consolidated subsidiary. The property opened for operations in August 2016. During 2013, the Company entered into a pre-sale agreement to purchase University Walk, a wholly-owned property under development. The property opened for operations in August 2014 and the closing of the transaction occurred in February 2015.

Property Dispositions and Dis32

Property Dispositions and Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Properties Classified as Held For Sale	The following wholly-owned property was classified as held for sale on the accompanying consolidated balance sheet as of December 31, 2016 : Property Location Primary University Served Beds The Province - Dayton Dayton, OH Wright State University 657
Schedule of Properties Sold During Period	During the year ended December 31, 2016 , the Company sold the following wholly-owned properties for approximately $581.8 million , resulting in net proceeds of approximately $571.4 million . The combined net gain on these dispositions totaled approximately $21.2 million . Property Location Primary University Served Beds The Edge - Orlando Orlando, FL University of Central Florida 930 University Village - Sacramento Sacramento, CA California State Univ. - Sacramento 394 Abbott Place East Lansing, MI Michigan State University 654 Burbank Commons Baton Rouge, LA Louisiana State University 532 Campus Corner Bloomington, IA Indiana University 796 Campus Way Tuscaloosa, AL University of Alabama 680 Forest Village and Woodlake Columbia, MO University of Missouri 704 Garnet River Walk West Columbia, SC University of South Carolina 476 Grindstone Canyon Columbia, MO University of Missouri 384 Lions Crossing State College, PA Penn State University 696 Nittany Crossing State College, PA Penn State University 684 Pirates Place Townhomes Greenville, NC East Carolina University 528 The Centre Kalamazoo, MI Western Michigan University 700 The Cottages of Baton Rouge Baton Rouge, LA Louisiana State University 1,290 The Cottages of Columbia Columbia, MO University of Missouri 513 U Club Cottages Baton Rouge, LA Louisiana State University 308 University Club & The Grove (1) Tallahassee, FL Florida State University 736 University Crescent Baton Rouge, LA Louisiana State University 612 University Heights Birmingham, AL University of Alabama at Birmingham 528 University Manor Greenville, NC East Carolina University 600 University Oaks Columbia, SC University of South Carolina 662 13,407 (1) Consists of two phases that were previously counted separately in the Company's property portfolio numbers.

Investments in Wholly-Owned P33

Investments in Wholly-Owned Properties (Tables)	12 Months Ended
	Dec. 31, 2016
Wholly owned properties
Real Estate Properties [Line Items]
Schedule of real estate properties	Wholly-owned properties consisted of the following: December 31, 2016 2015 Land (1) $ 568,266 $ 597,894 Buildings and improvements 5,065,137 5,235,033 Furniture, fixtures and equipment 303,240 311,696 Construction in progress 349,498 154,988 6,286,141 6,299,611 Less accumulated depreciation (859,127 ) (777,340 ) Wholly-owned properties, net (2) $ 5,427,014 $ 5,522,271 (1) The land balance above includes undeveloped land parcels with book values of approximately $38.5 million and $66.2 million as of December 31, 2016 and 2015 , respectively. It also includes land totaling approximately $61.2 million and $33.0 million as of December 31, 2016 and 2015 , respectively, related to properties under development. (2) Excludes the net book value of properties classified as held for sale in the accompanying consolidated balance sheet (see Note 6 ).

On-Campus Participating Prope34

On-Campus Participating Properties (Tables)	12 Months Ended
	Dec. 31, 2016
On-campus participating properties
Real Estate Properties [Line Items]
Schedule of real estate properties	On-campus participating properties are as follows: Lease Required Debt Historical Cost – December 31, Lessor/University Commencement Repayment 2016 2015 Texas A&M University System / Prairie View A&M University (1) 2/1/1996 9/1/2023 $ 45,310 $ 44,147 Texas A&M University System / Texas A&M International 2/1/1996 9/1/2023 7,215 7,064 Texas A&M University System / Prairie View A&M University (2) 10/1/1999 8/31/2025 28,627 27,717 8/31/2028 University of Houston System / University of Houston (3) 9/27/2000 8/31/2035 37,960 37,381 West Virginia University / West Virginia University 7/16/2013 7/16/2045 43,817 43,676 162,929 159,985 Less accumulated amortization (77,132 ) (69,856 ) On-campus participating properties, net $ 85,797 $ 90,129 (1) Consists of three phases placed in service between 1996 and 1998. (2) Consists of two phases placed in service in 2000 and 2003. (3) Consists of two phases placed in service in 2001 and 2005.

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Schedule of summarized activity of redeemable limited partners	Below is a table summarizing the activity of redeemable limited partners for the years ended December 31, 2016 and 2015 : Balance, December 31, 2014 $ 54,472 Net income 1,458 Distributions (2,329 ) Redeemable limited partner units issued as consideration (see Note 5) 14,182 Conversion of redeemable limited partner units into shares of ACC common stock (3,000 ) Redemption of redeemable limited partner units for cash (810 ) Adjustments to reflect redeemable limited partner units at fair value (4,462 ) Balance, December 31, 2015 $ 59,511 Net income 1,106 Distributions (2,141 ) Conversion of redeemable limited partner units into shares of ACC common stock (11,335 ) Adjustments to reflect redeemable limited partner units at fair value 7,937 Balance, December 31, 2016 $ 55,078

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of summary of outstanding consolidated indebtedness, including unamortized debt premiums and discounts	The Company has issued the following senior unsecured notes: Date Issued Amount % of Par Value Coupon Yield Original Issue Discount Term (Years) April 2013 $ 400,000 99.659 3.750% 3.791% $ 1,364 10 June 2014 400,000 99.861 4.125% 4.269% (1) 556 10 September 2015 400,000 99.811 3.350% 3.391% 756 5 $ 1,200,000 $ 2,676 (1) The yield includes effect of the amortization of the interest rate swap terminations (see Note 13 for details). A summary of the Company’s outstanding consolidated indebtedness, including unamortized debt premiums and discounts, is as follows: December 31, 2016 2015 Debt secured by wholly-owned properties: Mortgage loans payable: Unpaid principal balance $ 559,642 $ 934,769 Unamortized deferred financing costs (3,040 ) (5,084 ) Unamortized debt premiums 26,830 50,763 Unamortized debt discounts — (166 ) 583,432 980,282 Construction loans payable — 5,559 (1) Unamortized deferred financing costs — (374 ) 583,432 985,467 Debt secured by on-campus participating properties: Mortgage loans payable 71,662 73,465 Bonds payable 33,870 36,935 Unamortized deferred financing costs (769 ) (905 ) 104,763 109,495 Total secured mortgage, construction and bond debt 688,195 1,094,962 Unsecured notes, net of unamortized OID and deferred financing costs (2) 1,188,737 1,186,700 Unsecured term loans, net of unamortized deferred financing costs (3) 149,065 597,719 Unsecured revolving credit facility 99,300 68,900 Total debt $ 2,125,297 $ 2,948,281 (1) The loan used to partially finance the development of The Court was classified as a construction loan as of December 31, 2015 and is now reflected as a mortgage loan as of December 31, 2016 , as construction of the property was completed and the property opened in August of 2016. (2) Includes net unamortized original issue discount (“OID”) of $1.9 million at December 31, 2016 and $2.2 million at December 31, 2015 , and net unamortized deferred financing costs of $9.3 million at December 31, 2016 and $11.1 million at December 31, 2015 . (3) Includes net unamortized deferred financing costs of $0.9 million at December 31, 2016 and $2.3 million at December 31, 2015 .
Schedule of mortgage and construction loans payable	Mortgage and construction loans payable, excluding debt premiums and discounts, consisted of the following as of December 31, 2016 : December 31, 2016 Principal Outstanding Weighted Weighted Number of December 31, Average Average Properties 2016 2015 Interest Rate Years to Maturity Encumbered Fixed Rate: Mortgage loans payable (1) $ 631,304 $ 1,008,234 4.72 % 5.8 years 22 Construction loan payable — 5,559 — Total $ 631,304 $ 1,013,793 4.72 % 5.8 years 22 (1) Fixed rate mortgage loans payable mature at various dates from August 2017 through July 2045 and carry interest rates ranging from 3.05% to 6.43% . A loan related to The Court was classified as a construction loan as of December 31, 2015 and is now reflected as a mortgage loan as of December 31, 2016 , as construction of the property was completed and the property opened in August of 2016.
Schedule of debt transactions	During the twelve months ended December 31, 2016 , the following transactions occurred: Mortgage Loans Payable (1) Construction Loans Payable Balance, December 31, 2015 $ 1,058,831 $ 5,559 Additions: Mortgage loan formerly classified as construction loan (2) 10,013 (10,013 ) Draws under advancing construction notes payable (3) — 4,454 Deductions: Pay-off of mortgage notes payable due to disposition (4) (197,316 ) Pay-off of maturing mortgage notes payable (5) (177,655 ) — Scheduled repayments of principal (11,972 ) — Amortization and write off of debt premiums and discounts (23,767 ) — Balance, December 31, 2016 $ 658,134 $ — (1) Balance includes unamortized debt premiums and discounts. (2) Represents the reclassification of the loan used to partially finance the development and construction of The Court. This loan was classified as a construction loan as of December 31, 2015, and is now reflected as a mortgage loan as of December 31, 2016. (3) Represents draws from the construction loan used to partially finance the development and construction of The Court. (4) The Company paid off fixed rate mortgage debt on nine wholly-owned properties in connection with a portfolio disposition in November 2016. (5) The Company paid off fixed rate mortgage debt nearing maturity on eleven wholly-owned properties.
Schedule of bonds payable	Bonds payable at December 31, 2016 consisted of the following: Principal Weighted Required Series Mortgaged Facilities Subject to Leases Original December 31, 2016 Average Rate Maturity Date Monthly Debt Service 1999 University Village-PVAMU/TAMIU $ 39,270 $ 19,025 7.76 % September 2023 $ 302 2001 University College–PVAMU 20,995 12,055 7.62 % August 2025 158 2003 University College–PVAMU 4,325 2,790 6.14 % August 2028 28 Total/weighted average rate $ 64,590 $ 33,870 7.58 % $ 488
Schedule of debt maturities	The following table summarizes the stated debt maturities and scheduled amortization payments, excluding debt premiums and discounts, for each of the five years subsequent to December 31, 2016 and thereafter: 2017 $ 40,356 2018 272,953 2019 13,036 2020 455,046 2021 382,147 Thereafter 950,936 $ 2,114,474

Stockholders' Equity _ Partne37

Stockholders' Equity / Partners' Capital (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Summary of Equity Program Activity	The following table presents activity under the Company’s ATM Equity Program: Year Ended December 31, 2016 2015 Total net proceeds $ 75,090 $ 213,416 Commissions paid to sales agents $ 953 $ 3,250 Weighted average price per share $ 51.07 $ 43.92 Shares of common stock sold 1,489,000 4,933,665

Incentive Award Plan (Tables)

Incentive Award Plan (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of summary of restricted stock units	A summary of the Company’s RSUs under the Plan for the years ended December 31, 2016 and 2015 is presented below: Number of RSUs Weighted-Average Grant Date Fair Value Per RSU Outstanding at December 31, 2014 — $ — Granted 22,320 39.65 Settled in common shares (16,491 ) 39.77 Settled in cash (5,829 ) 39.34 Outstanding at December 31, 2015 — $ — Granted 18,908 46.81 Settled in common shares (15,524 ) 46.87 Settled in cash (3,384 ) 46.55 Outstanding at December 31, 2016 — $ —
Schedule of summary of restricted stock awards	A summary of the Company’s RSAs under the Plan for the years ended December 31, 2016 and 2015 is presented below: Number of RSAs Weighted-Average Grant Date Fair Value Per RSA Nonvested balance at December 31, 2014 609,514 $ 38.31 Granted 286,178 44.23 Vested (116,166 ) 36.50 Forfeited (1) (123,601 ) 38.78 Nonvested balance at December 31, 2015 655,925 $ 41.12 Granted 332,717 41.41 Vested (127,352 ) 40.19 Forfeited (1) (88,189 ) 40.47 Nonvested balance at December 31, 2016 773,101 $ 41.47 (1) Includes shares withheld to satisfy tax obligations upon vesting.

Derivative Instruments and He39

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of summary of outstanding interest rate swap contracts	The following table summarizes the Company’s outstanding interest rate swap contracts as of December 31, 2016 : Hedged Debt Instrument Effective Date Maturity Date Pay Fixed Rate Receive Floating Rate Index Current Notional Amount Fair Value Cullen Oaks mortgage loan Feb 18, 2014 Feb 15, 2021 2.2750% LIBOR - 1 month $ 14,219 $ (329 ) Cullen Oaks mortgage loan Feb 18, 2014 Feb 15, 2021 2.2750% LIBOR - 1 month 14,365 (333 ) Term Loan I Facility Feb 2, 2012 Jan 2, 2017 0.8695% LIBOR – 1 month 125,000 (2 ) Term Loan I Facility Feb 2, 2012 Jan 2, 2017 0.8800% LIBOR – 1 month 25,000 — Park Point mortgage loan Nov 1, 2013 Oct 5, 2018 1.5450% LIBOR - 1 month 70,000 (435 ) Total $ 248,584 $ (1,099 )
Schedule of fair value of derivative financial instruments and classification on consolidated balance sheet	The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2016 and 2015 : Liability Derivatives Fair Value as of Description Balance Sheet Location December 31, 2016 December 31, 2015 Interest rate swap contracts Other liabilities $ 1,099 $ 2,454 Total derivatives designated $ 1,099 $ 2,454

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of financial instruments measured at fair value	Disclosures concerning financial instruments measured at fair value are as follows: Fair Value Measurements as of December 31, 2016 December 31, 2015 Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Liabilities: Derivative financial instruments $ — $ 1,099 $ — $ 1,099 $ — $ 2,454 $ — $ 2,454 Mezzanine: Redeemable noncontrolling interests (Company)/Redeemable limited partners (Operating Partnership) $ — $ 55,078 $ — $ 55,078 $ — $ 59,511 $ — $ 59,511
Schedule of estimated fair value and related carrying amounts of mortgage loans and bonds payable	he table below contains the estimated fair value and related carrying amounts for the Company’s financial instruments as of December 31, 2016 and 2015 : December 31, 2016 December 31, 2015 Estimated Fair Value Carrying Amount Estimated Fair Value Carrying Amount Assets: Loans receivable $ 54,396 $ 58,539 $ 48,030 $ 57,175 Liabilities: Unsecured notes $ 1,211,344 $ 1,188,737 (1) $ 1,180,466 $ 1,186,700 (1) Mortgage loans $ 644,617 $ 654,794 (2) $ 994,809 $ 1,053,414 (2) Bonds payable $ 37,066 $ 33,401 $ 40,716 $ 36,363 (1) Includes net unamortized OID and net unamortized deferred financing costs (see Note 10 ). (2) Includes net unamortized debt premiums and discounts and net unamortized deferred financing costs (see Note 10 ).

Lease Commitments (Tables)

Lease Commitments (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Future minimum commitments for capital and operating lease	Future minimum commitments over the life of all leases, which exclude variable rent payments, are as follows: Operating 2017 $ 7,671 2018 8,312 2019 8,812 2020 8,925 2021 8,577 Thereafter 323,914 Total minimum lease payments $ 366,211

Segments Segments (Tables)

Segments Segments (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Schedule of Segment Information	Year Ended December 31, 2016 2015 2014 Wholly-Owned Properties Rental revenues and other income $ 738,598 $ 708,018 $ 693,694 Interest income 1,170 1,071 1,079 Total revenues from external customers 739,768 709,089 694,773 Operating expenses before depreciation, amortization, ground/facility lease, and allocation of corporate overhead (332,325 ) (330,932 ) (331,046 ) Ground/facility leases (6,158 ) (5,297 ) (4,196 ) Interest expense (18,552 ) (30,147 ) (42,906 ) Operating income before depreciation, amortization and allocation of corporate overhead $ 382,733 $ 342,713 $ 316,625 Depreciation and amortization $ 200,934 $ 198,986 $ 189,424 Capital expenditures $ 485,726 $ 316,468 $ 334,249 Total segment assets at December 31, (1) $ 5,672,360 $ 5,804,068 $ 5,598,276 On-Campus Participating Properties Rental revenues and other income $ 33,433 $ 31,586 $ 28,534 Interest income 10 2 3 Total revenues from external customers 33,443 31,588 28,537 Operating expenses before depreciation, amortization, ground/facility lease, and allocation of corporate overhead (12,224 ) (11,407 ) (10,437 ) Ground/facility lease (3,009 ) (2,935 ) (3,201 ) Interest expense (5,539 ) (5,833 ) (5,131 ) Operating income before depreciation, amortization and allocation of corporate overhead $ 12,671 $ 11,413 $ 9,768 Depreciation and amortization $ 7,343 $ 7,034 $ 5,688 Capital expenditures $ 2,944 $ 2,943 $ 29,621 Total segment assets at December 31, (1) $ 103,256 $ 104,641 $ 108,968 Development Services Development and construction management fees $ 4,606 $ 4,964 $ 4,018 Operating expenses (13,763 ) (13,732 ) (11,883 ) Operating loss before depreciation, amortization and allocation of corporate overhead $ (9,157 ) $ (8,768 ) $ (7,865 ) Total segment assets at December 31, (1) $ 2,601 $ 1,730 $ 1,530 Property Management Services Property management fees from external customers $ 9,724 $ 8,813 $ 7,669 Intersegment revenues 23,082 23,054 22,889 Total revenues 32,806 31,867 30,558 Operating expenses (12,089 ) (11,360 ) (12,400 ) Operating income before depreciation, amortization and allocation of corporate overhead $ 20,717 $ 20,507 $ 18,158 Total segment assets at December 31, (1) $ 7,997 $ 9,432 $ 6,513 Reconciliations Total segment revenues and other income $ 810,623 $ 777,508 $ 757,886 Unallocated interest income earned on investments and corporate cash 4,301 3,348 3,086 Elimination of intersegment revenues (23,082 ) (23,054 ) (22,889 ) Total consolidated revenues, including interest income $ 791,842 $ 757,802 $ 738,083 Segment operating income before depreciation, amortization and allocation of corporate overhead $ 406,964 $ 365,865 $ 336,686 Depreciation and amortization (217,907 ) (214,338 ) (203,413 ) Net unallocated expenses relating to corporate interest and overhead (90,745 ) (83,541 ) (67,956 ) Gain (loss) from disposition of real estate 21,197 52,699 (368 ) Provision for real estate impairment (4,895 ) — (2,443 ) Other nonoperating income — 388 186 Loss from early extinguishment of debt (12,841 ) (1,770 ) — Income tax provision (1,150 ) (1,242 ) (1,308 ) Income from continuing operations $ 100,623 $ 118,061 $ 61,384 Total segment assets (1) $ 5,786,214 $ 5,919,871 $ 5,715,287 Unallocated corporate assets (1) 79,699 86,377 100,757 Total assets at December 31, (1) $ 5,865,913 $ 6,006,248 $ 5,816,044 (1) All prior periods presented have been changed to reflect the adoption of ASU 2015-03 (see No tes 2 and 10 ).

Quarterly Financial Informati43

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Document Information [Line Items]
Schedule of quarterly financial information	The information presented below represents the quarterly consolidated financial results of the Company for the years ended December 31, 2016 and 2015 . 2016 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Total Total revenues $ 199,995 $ 185,983 $ 196,411 $ 203,972 $ 786,361 Operating income 53,035 39,106 29,278 51,724 173,143 Net income 46,209 18,765 9,845 25,804 100,623 Net income attributable to noncontrolling interests (622 ) (327 ) (201 ) (412 ) (1,562 ) Net income attributable to ACC, Inc. and Subsidiaries common stockholders $ 45,587 $ 18,438 $ 9,644 $ 25,392 $ 99,061 Net income attributable to common stockholders per share - basic $ 0.37 $ 0.14 $ 0.07 $ 0.19 $ 0.76 (1) Net income attributable to common stockholders per share - diluted $ 0.36 $ 0.14 $ 0.07 $ 0.19 $ 0.75 (1) (1) Net income per share is computed independently for each of the periods presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year. 2015 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Total Total revenues $ 192,493 $ 177,874 $ 180,816 $ 202,198 $ 753,381 Operating income 50,176 34,452 18,551 53,725 156,904 Net income 71,267 15,918 2,016 28,860 118,061 Net income attributable to noncontrolling interests (1,070 ) (338 ) (161 ) (501 ) (2,070 ) Net income attributable to ACC, Inc. and Subsidiaries common stockholders $ 70,197 $ 15,580 $ 1,855 $ 28,359 $ 115,991 Net income attributable to common stockholders per share - basic $ 0.63 $ 0.14 $ 0.01 $ 0.25 $ 1.03 Net income attributable to common stockholders per share - diluted $ 0.62 $ 0.14 $ 0.01 $ 0.25 $ 1.02
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Document Information [Line Items]
Schedule of quarterly financial information	The information presented below represents the quarterly consolidated financial results of the Operating Partnership for the years ended December 31, 2016 and 2015 . 2016 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Total Total revenues $ 199,995 $ 185,983 $ 196,411 $ 203,972 $ 786,361 Operating income 53,035 39,106 29,278 51,724 173,143 Net income 46,209 18,765 9,845 25,804 100,623 Net income attributable to noncontrolling interests (104 ) (104 ) (77 ) (171 ) (456 ) Series A preferred unit distributions (42 ) (37 ) (36 ) (31 ) (146 ) Net income available to common unitholders $ 46,063 $ 18,624 $ 9,732 $ 25,602 $ 100,021 Net income per unit attributable to common unitholders - basic $ 0.37 $ 0.14 $ 0.07 $ 0.19 $ 0.76 (1) Net income per unit attributable to common unitholders - diluted $ 0.36 $ 0.14 $ 0.07 $ 0.19 $ 0.75 (1) 2015 1 st Quarter 2 nd Quarter 3 rd Quarter 4 th Quarter Total Total revenues $ 192,493 $ 177,874 $ 180,816 $ 202,198 $ 753,381 Operating income 50,176 34,452 18,551 53,725 156,904 Net income 71,267 15,918 2,016 28,860 118,061 Net income attributable to noncontrolling interests (323 ) (92 ) (92 ) (105 ) (612 ) Series A preferred unit distributions (44 ) (44 ) (44 ) (44 ) (176 ) Net income available to common unitholders $ 70,900 $ 15,782 $ 1,880 $ 28,711 $ 117,273 Net income per unit attributable to common unitholders - basic $ 0.63 $ 0.14 $ 0.01 $ 0.25 $ 1.03 Net income per unit attributable to common unitholders - diluted $ 0.63 $ 0.14 $ 0.01 $ 0.25 $ 1.02 (1) (1) Net income per share is computed independently for each of the periods presented. Therefore, the sum of quarterly net income per share amounts may not equal the total computed for the year.

Organization and Description 44

Organization and Description of Business - Additional Information (Detail Textuals)	12 Months Ended
	Dec. 31, 2016university_systemBedProperty
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of properties	154
Number of beds | Bed	95,200
Minimum
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Initial terms of contract	1 year
Maximum
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Initial terms of contract	5 years
Wholly owned properties
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of properties	2
Number of beds | Bed	709
Wholly owned properties | Off campus properties
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of properties	121
Wholly owned properties | On-campus participating properties
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of properties	5
Number of university systems | university_system	3
Wholly owned properties | Under Development
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of beds | Bed	10,800
Management And Leasing Services
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of properties	49
Number of beds | Bed	36,800
Third-party managed portfolio
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of properties	203
Number of beds | Bed	132,000
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Limited partner ownership interest (percent)	99.20%
Owned On Campus Properties | American campus equity
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of university systems | university_system	13
Number of properties under construction	6
Owned On Campus Properties | Under Development
Organization, Consolidation and Presentation of Financial Statements Disclosure [Line Items]
Number of properties under construction	14

Summary of Significant Accoun45

Summary of Significant Accounting Policies - Estimated useful lives of assets (Details)	12 Months Ended
	Dec. 31, 2016
Building and improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful Life	7 years
Building and improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful Life	40 years
Leasehold interest - on-campus participating properties | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful Life	25 years
Leasehold interest - on-campus participating properties | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful Life	34 years
Furniture, fixtures and equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful Life	3 years
Furniture, fixtures and equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful Life	7 years

Summary of Significant Accoun46

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2016USD ($)offeringEntity	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Significant Accounting Policies [Line Items]
Capitalized interest	$ 12,300,000	$ 9,600,000	$ 8,800,000
Unamortized discount on loans receivable	2,800,000	3,000,000
Impairment of loans receivable	0
Net carrying amount of in-pace leases	$ 1,300,000	1,600,000
Weighted average in-place lease term	6 years 1 month 6 days
Deferred finance costs	$ 1,400,000	2,700,000
Amount of pre-development costs deferred	9,200,000
Advertising costs	$ 12,800,000	11,800,000	14,200,000
Percentage of income (loss) available to common stockholders (at least)	90.00%
Number of entities | Entity	2
In-place leases assumed
Significant Accounting Policies [Line Items]
Capitalized amount of acquired intangible assets	$ 600,000	3,300,000	900,000
Amortization expense of acquired intangible assets	900,000	3,700,000	2,400,000
Property tax abatement
Significant Accounting Policies [Line Items]
Capitalized amount of acquired intangible assets	3,600,000	13,700,000	2,500,000
Amortization expense of acquired intangible assets	2,900,000	2,800,000	1,300,000
Unamortized tax abatement	$ 55,100,000	56,800,000
Weighted average tax abatement period	20 years 9 months 18 days
Mortgages
Significant Accounting Policies [Line Items]
Amortization of debt discounts (premiums)	$ (12,000,000)	12,000,000	12,900,000
Net unamortized debt premiums	$ 26,800,000	50,800,000
Net unamortized debt discounts		200,000
Senior notes
Significant Accounting Policies [Line Items]
Number of debt offerings | offering	3
Debt face amount	$ 1,200,000,000
Unsecured notes | Senior notes
Significant Accounting Policies [Line Items]
Net unamortized debt discounts	1,900,000	2,200,000
Interest expense | Senior notes
Significant Accounting Policies [Line Items]
Amortization of debt discounts (premiums)	300,000	200,000	$ 100,000
Carrying Amount
Significant Accounting Policies [Line Items]
Loans receivable	$ 58,539,000	$ 57,175,000

Summary of Significant Accoun47

Summary of Significant Accounting Policies - Additional Information - Owned On-Campus and Participating Properties (Details)	12 Months Ended
	Dec. 31, 2016university_systemProperty
Significant Accounting Policies [Line Items]
Number of properties	154
On-campus participating properties
Significant Accounting Policies [Line Items]
Number of university systems | university_system	3
Under Development | Owned On Campus Properties
Significant Accounting Policies [Line Items]
Number of properties under construction	14
American campus equity | Owned On Campus Properties
Significant Accounting Policies [Line Items]
Number of university systems | university_system	13
Number of student housing properties	28
Number of properties under construction	6
American campus equity | Owned On Campus Properties | Minimum
Significant Accounting Policies [Line Items]
Term of agreement	30 years
American campus equity | Owned On Campus Properties | Maximum
Significant Accounting Policies [Line Items]
Term of agreement	90 years
Wholly owned properties
Significant Accounting Policies [Line Items]
Number of properties	2
Wholly owned properties | Under Development
Significant Accounting Policies [Line Items]
Number of properties scheduled to be open for occupancy in fall 2015	3
Number of properties scheduled to be open for occupancy in fall 2016	3
Wholly owned properties | On-campus participating properties
Significant Accounting Policies [Line Items]
Number of university systems | university_system	3
Number of properties	5

Summary of Significant Accoun48

Summary of Significant Accounting Policies - Allowance for doubtful accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for Doubtful Accounts Receivable [Roll Forward]
Balance, Beginning of Period	$ 17,054	$ 19,711	$ 15,926
Charged to Expense	9,195	10,115	10,894
Write-Offs	(9,794)	(12,772)	(7,109)
Balance, End of Period	16,455	17,054	$ 19,711
Write-Offs related to property previously disposed off	$ 3,100	$ 4,000

Earnings Per Share - Potentiall

Earnings Per Share - Potentially dilutive securities not included in calculating diluted earnings per share (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,322,263	109,775	1,324,788
Common OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	1,231,500	0	1,213,509
Preferred OP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities (shares)	90,763	109,775	111,279

Earnings Per Share - Summary of

Earnings Per Share - Summary of Elements Used in Calculating Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator - basic earnings per share:
Income from continuing operations									$ 100,623	$ 118,061	$ 61,384
Income from continuing operations attributable to noncontrolling interests									(1,562)	(2,070)	(1,231)
Income from continuing operations attributable to common stockholders									99,061	115,991	60,153
Amount allocated to participating securities									(1,338)	(1,086)	(1,076)
Income from continuing operations attributable to common stockholders, net of amount allocated to participating securities									97,723	114,905	59,077
Income from discontinued operations									0	0	2,720
Income from discontinued operations attributable to noncontrolling interests									0	0	(34)
Income from discontinued operations attributable to common stockholders									0	0	2,686
Numerator - diluted earnings per share:
Net income attributable to common stockholders - basic									97,723	114,905	61,763
Income allocated to Common OP Units									0	1,282	0
Net income attributable to common stockholders - diluted									$ 97,723	$ 116,187	$ 61,763
Denominator:
Basic weighted average common shares outstanding (shares)									129,228,748	111,987,361	105,032,155
Potentially dilutive securities (shares)									1,322,263	109,775	1,324,788
Diluted weighted average common shares outstanding (shares)									130,018,729	114,032,222	105,711,420
Earnings per share – basic:
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities, Basic (in dollars per share)									$ 0.76	$ 1.03	$ 0.56
Income from discontinued operations attributable to common shareholders (in dollars per share)									0	0	0.03
Net income per share (in dollars per share)	$ 0.19	$ 0.07	$ 0.14	$ 0.37	$ 0.25	$ 0.01	$ 0.14	$ 0.63	0.76	1.03	0.59
Earnings per share – diluted:
Income from continuing operations attributable to common shareholders, net of amount allocated to participating securities (in dollars per share)									0.75	1.02	0.56
Income from discontinued operations attributable to common shareholders (in dollars per share)									0	0	0.02
Net income attributable to common shareholders (in dollars per share)	$ 0.19	$ 0.07	$ 0.14	$ 0.36	$ 0.25	$ 0.01	$ 0.14	$ 0.62	$ 0.75	$ 1.02	$ 0.58
Unvested Restricted Stock Awards
Denominator:
Potentially dilutive securities (shares)									789,981	680,980	679,265
Common OP Units
Denominator:
Potentially dilutive securities (shares)									0	1,363,881	0

Earnings Per Share- Summary of

Earnings Per Share- Summary of Elements Used in Calculating Basic and Diluted Earnings per Unit (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator - basic and diluted earnings per unit:
Income from continuing operations									$ 100,623	$ 118,061	$ 61,384
Income from continuing operations attributable to noncontrolling interests									(1,562)	(2,070)	(1,231)
Amount allocated to participating securities									(1,338)	(1,086)	(1,076)
Income from continuing operations attributable to common stockholders, net of amount allocated to participating securities									97,723	114,905	59,077
Income from discontinued operations									0	0	2,720
Income from discontinued operations attributable to common stockholders									0	0	2,686
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Numerator - basic and diluted earnings per unit:
Income from continuing operations									100,623	118,061	61,384
Income from continuing operations attributable to noncontrolling interests									(456)	(612)	(352)
Income from continuing operations attributable to Series A preferred units									(146)	(176)	(175)
Amount allocated to participating securities									(1,338)	(1,086)	(1,076)
Income from continuing operations attributable to common stockholders, net of amount allocated to participating securities									98,683	116,187	59,781
Income from discontinued operations									0	0	2,720
Income from discontinued operations attributable to Series A preferred units									0	0	(3)
Income from discontinued operations attributable to common stockholders									0	0	2,717
Net income attributable to common unitholders									$ 98,683	$ 116,187	$ 62,498
Denominator:
Basic weighted average common units outstanding (units)									130,460,248	113,351,242	106,245,664
Diluted weighted average common units (units) outstanding									131,250,229	114,032,222	106,924,929
Earnings per unit – basic:
Income from continuing operations attributable to common unitholders, net of amount allocated to participating securities (in dollars per share)									$ 0.76	$ 1.03	$ 0.56
Income from discontinued operations attributable to common unitholders (in dollars per share)									0	0	0.03
Net income per unit (in dollars per unit)	$ 0.19	$ 0.07	$ 0.14	$ 0.37	$ 0.25	$ 0.01	$ 0.14	$ 0.63	0.76	1.03	0.59
Earnings per unit – diluted:
Income from continuing operations attributable to common unitholders, net of amount allocated to participating securities (in dollars per share)									0.75	1.02	0.56
Income from discontinued operations attributable to common unitholders (in dollars per share)									0	0	0.02
Net income attributable to common unitholders (in dollars per share)	$ 0.19	$ 0.07	$ 0.14	$ 0.36	$ 0.25	$ 0.01	$ 0.14	$ 0.63	$ 0.75	$ 1.02	$ 0.58
Unvested Restricted Stock Awards | AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Denominator:
Unvested Restricted Stock Awards (units)									789,981	680,980	679,265

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail Textuals) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Income (Loss) subject to TRS earnings tax	$ (101,773)	$ (119,303)	$ (62,692)
TRS
Income Taxes [Line Items]
Percent of taxable income to be distributed to shareholders for tax exemption (at least) (percent)	90.00%
Income (Loss) subject to TRS earnings tax	$ 3,800	$ 3,300	$ 3,200
Net operating loss carryforwards	29,800
Valuation allowance credited to additional paid in capital	$ 3,700

Income Taxes - Components of de

Income Taxes - Components of deferred tax assets and liabilities of TRSs (Details) - TRS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Deferred tax assets:
Fixed and intangible assets	$ 2,074	$ 2,663
Net operating loss carryforwards	9,492	7,887
Prepaid and deferred income	2,417	2,326
Bad debt reserves	754	725
Accrued expenses and other	5,251	4,578
Stock compensation	2,866	2,454
Total deferred tax assets	22,854	20,633
Valuation allowance for deferred tax assets	(22,688)	(20,431)
Deferred tax assets, net of valuation allowance	166	202
Deferred tax liability:
Deferred financing costs	166	202
Net deferred tax liabilities	$ 0	$ 0

Income Taxes - Components of in

Income Taxes - Components of income tax provision (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
Federal	$ 0	$ 0	$ 0
State	(1,150)	(1,242)	(1,308)
Deferred:
Federal	0	0	0
State	0	0	0
Total provision - continuing operations	$ (1,150)	$ (1,242)	$ (1,308)

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of income tax attributable to continuing operations for TRSs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
TRS income tax provision	$ 1,150	$ 1,242	$ 1,308
TRS
Income Taxes [Line Items]
Tax benefit at U.S. statutory rates on TRS income subject to tax	2,303	2,019	1,928
State income tax, net of federal income tax benefit	85	74	71
Effect of permanent differences and other	(88)	(77)	(72)
Increase in valuation allowance	(2,300)	(2,016)	(1,927)
TRS income tax provision	$ 0	$ 0	$ 0

Income Taxes - Tax treatment of

Income Taxes - Tax treatment of distributions to shareholders (Details) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Ordinary income, per share (in dollars per share)	$ 0.3541	$ 0.4658	$ 0.9016
Long-term capital gain, per share (in dollars per share)	0.5145	0.5301	0.0107
Return of capital, per share (in dollars per share)	0.7914	0.5841	0.5877
Total per common share outstanding (in dollars per share)	1.66	1.58	1.5
Unrecaptured Section 1250 gains, per share (in dollars per share)	$ 0.5383	$ 0.5281	$ 0.0248

Property Acquisitions - Additio

Property Acquisitions - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)BedProperty	Dec. 31, 2015USD ($)BedProperty$ / Unitshares	Dec. 31, 2014USD ($)BedProperty	Aug. 31, 2016Bed
Business Acquisition [Line Items]
Number of properties | Property	154
Number of beds | Bed	95,200
Property At University of Colorado
Business Acquisition [Line Items]
Number of beds | Bed				398
Property Near University of Georgia and Property Near University of Colorado
Business Acquisition [Line Items]
Mortgage debt	$ 0	$ 72,365
Net assets acquired	102,804	305,535
Net assets acquired representing mortgage debt	103,866	381,357
In-Process Development Properties
Business Acquisition [Line Items]
Total purchase price	39,600
Cash paid as part of business acquisition	$ 40,700
Number of beds | Bed	1,333
Wholly owned properties
Business Acquisition [Line Items]
Total purchase price	$ 63,100
Cash paid as part of business acquisition	$ 62,100
Number of properties | Property	2
Combined revenues	$ 1,900
Combined net income (loss)	100
Acquisition-related costs	$ 300
Number of beds | Bed	709
Wholly owned properties | Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Total purchase price		$ 378,300	$ 75,100
Number of properties | Property		8	1
Number of beds | Bed		4,061	610
Mortgage debt		$ 69,400
Wholly owned properties | Property Near University of Georgia and Property Near University of Colorado
Business Acquisition [Line Items]
Total purchase price	$ 102,700	378,300
Cash paid as part of business acquisition		291,400
Net assets acquired	102,800
Net assets acquired representing mortgage debt		305,500
Equity interests issued and issuable		$ 14,200
Common OP units | Wholly owned properties | Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Equity issued as part of business acquisition (in shares) | shares		343,895
Equity issued as part of business acquisition (in dollars per share) | $ / Unit		41.24
Pre-Sale Arrangement | Wholly owned properties
Business Acquisition [Line Items]
Total purchase price	$ 42,600
Pre-Sale Arrangement | Wholly owned properties | The Court
Business Acquisition [Line Items]
Total purchase price		$ 26,500

Property Acquisitions - In-Proc

Property Acquisitions - In-Process Development Property (Details)	Dec. 31, 2016Bed
Business Acquisition [Line Items]
Number of beds	95,200
In-Process Development Properties
Business Acquisition [Line Items]
Number of beds	1,333
In-Process Development Properties | The Callaway House Apartments
Business Acquisition [Line Items]
Number of beds	915
In-Process Development Properties | University Centre on College
Business Acquisition [Line Items]
Number of beds	418

Property Acquisitions - Wholly-

Property Acquisitions - Wholly-Owned Property (Details)	Dec. 31, 2016Bed
Business Acquisition [Line Items]
Number of beds	95,200
Wholly owned properties
Business Acquisition [Line Items]
Number of beds	709
Wholly owned properties | University Crossings
Business Acquisition [Line Items]
Number of beds	546
Wholly owned properties | U Point
Business Acquisition [Line Items]
Number of beds	163

Property Acquisitions - Fair Va

Property Acquisitions - Fair Value of Assets Acquired and Liabilities Assumed (Details) - Property Near University of Georgia and Property Near University of Colorado - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets acquired:
Land	$ 14,720	$ 26,766
Buildings and improvements	54,162	317,627
Furniture, fixtures and equipment	2,736	16,871
Construction in progress	27,806	0
Intangible assets	4,442	16,976
Other assets	0	3,117
Total assets acquired	103,866	381,357
Liabilities assumed:
Mortgage debt	0	(72,365)
Other liabilities	(1,062)	(3,457)
Total liabilities assumed	(1,062)	(75,822)
Net assets acquired	102,804	$ 305,535
Assumed debt resulting from property acquisition	$ 3,000

Property Acquisitions - Unaudit

Property Acquisitions - Unaudited Pro Forma Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Combinations [Abstract]
Total revenues	$ 789,942	$ 769,797	$ 767,483
Net income attributable to common shareholders	$ 99,941	$ 123,101	$ 69,374

Property Acquisitions - Pre-Sal

Property Acquisitions - Pre-Sale Arrangement (Details)	Dec. 31, 2016Bed
Business Acquisition [Line Items]
Number of beds	95,200
Wholly owned properties
Business Acquisition [Line Items]
Number of beds	709
Wholly owned properties | The Lumberyard
Business Acquisition [Line Items]
Number of beds	412

Property Dispositions and Dis63

Property Dispositions and Discontinued Operations - Summary of Properties Classified as Held-For-Sale (Details) (Details)	Dec. 31, 2016Bed
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	95,200
The Province - Dayton | Wholly Owned Properties Held For Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	657

Property Dispositions and Dis64

Property Dispositions and Discontinued Operations - Additional Information (Detail Textuals) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Bed	Dec. 31, 2015USD ($)land_parcelProperty	Dec. 31, 2014USD ($)buildingland_parcelBedProperty
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total proceeds from disposition of real estate	$ 571,424	$ 427,304	$ 10,101
Gain (loss) from disposition of real estate	$ 21,197	52,699	(368)
Number of beds | Bed	95,200
Gain (loss) from disposition of real estate	$ 0	0	2,843
Gain (loss) from discontinued operation	0	0	(123)
Discontinued Operations, Disposed of by Sale | Wholly owned properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charge	4,900		2,400
Sale price of disposed property	581,800	436,900	17,300
Total proceeds from disposition of real estate	571,400	$ 427,300	$ 1,300
Gain (loss) from disposition of real estate	21,200
Number of properties sold | Property		20	1
Number of buildings sold | building			1
Number of beds contained in buildings sold | Bed			20
Number of beds | Bed			480
Number of land parcels disposed | land_parcel		2	2
Disposal group included in continuing operation			$ 9,900
Net proceeds from disposition of real estate			8,800
Gain (loss) on continuing operations			(400)
Gain (loss) from disposition of real estate	$ 52,700		$ 2,800
Number of beds in properties sold | Bed			484
Assumed debt resulting from property acquisition			$ 15,600
Revenues from discontinued operation			300
Operating expense from discontinued operation			200
Nonoperating expense from discontinued operation			200
Gain (loss) from discontinued operation			$ (100)
Wholly owned properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds | Bed	709

Property Dispositions and Dis65

Property Dispositions and Discontinued Operations - Summary of Properties Sold (Details)	Dec. 31, 2016Bed
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	95,200
Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	13,407
The Edge - Orlando | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	930
University Village - Sacramento | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	394
Abbott Place | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	654
Burbank Commons | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	532
Campus Corner | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	796
Campus Way | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	680
Forest Village and Woodlake | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	704
Garnet River Walk | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	476
Grindstone Canyon | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	384
Lions Crossing | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	696
Nittany Crossing | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	684
Pirates Place Townhomes | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	528
The Centre | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	700
The Cottages of Baton Rouge | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	1,290
The Cottages of Columbia | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	513
U Club Cottages | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	308
University Club & The Grove | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	736
University Crescent | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	612
University Heights | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	528
University Manor | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	600
University Oaks | Wholly-owned properties sold
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of beds	662

Investments in Wholly-Owned P66

Investments in Wholly-Owned Properties - Summary of wholly-owned properties (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real Estate Properties [Line Items]
Properties, net	$ 5,538,161	$ 5,667,754
Undeveloped land parcels	38,500	66,200
Wholly owned properties
Real Estate Properties [Line Items]
Land	568,266	597,894
Buildings and improvements	5,065,137	5,235,033
Furniture, fixtures and equipment	303,240	311,696
Construction in progress	349,498	154,988
Real estate properties gross	6,286,141	6,299,611
Less accumulated depreciation	(859,127)	(777,340)
Properties, net	5,427,014	5,522,271
Under Development
Real Estate Properties [Line Items]
Undeveloped land parcels	$ 61,200	$ 33,000

On-Campus Participating Prope67

On-Campus Participating Properties - Additional Information (Detail Textuals)	12 Months Ended
	Dec. 31, 2016Contractuniversity_systemProperty
Real Estate Properties [Line Items]
Number of properties | Property	3
Percentage of financing	100.00%
On-campus participating properties, net
Real Estate Properties [Line Items]
Number of university systems | university_system	3
West Virginia University | On-campus participating properties, net
Real Estate Properties [Line Items]
Lease term	40 years
Number of renewal options | Contract	2
Lease extension period	10 years

On-Campus Participating Prope68

On-Campus Participating Properties - Summary of On Campus Participating Properties (Details) $ in Thousands	Dec. 31, 2016USD ($)phase	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Properties, net	$ 5,538,161	$ 5,667,754
Texas A And M International | Phases Placed In Service Between 1996 And 1998
Real Estate Properties [Line Items]
Number of project phases | phase	3
Texas A And M International | Phases Placed In Service In 2000 And 2003
Real Estate Properties [Line Items]
Number of project phases | phase	2
University Of Houston | Phases Placed In Service in 2001 And 2005
Real Estate Properties [Line Items]
Number of project phases | phase	2
On-campus participating properties, net
Real Estate Properties [Line Items]
Real estate properties gross	$ 162,929	159,985
Less accumulated amortization	(77,132)	(69,856)
Properties, net	85,797	90,129
On-campus participating properties, net | Prairie View A And M University | Phases Placed In Service Between 1996 And 1998
Real Estate Properties [Line Items]
Real estate properties gross	45,310	44,147
On-campus participating properties, net | Prairie View A And M University | Phases Placed In Service In 2000 And 2003
Real Estate Properties [Line Items]
Real estate properties gross	28,627	27,717
On-campus participating properties, net | Texas A And M International
Real Estate Properties [Line Items]
Real estate properties gross	7,215	7,064
On-campus participating properties, net | University Of Houston | Phases Placed In Service in 2001 And 2005
Real Estate Properties [Line Items]
Real estate properties gross	37,960	37,381
On-campus participating properties, net | West Virginia University | Place In Service in August 2014
Real Estate Properties [Line Items]
Real estate properties gross	$ 43,817	$ 43,676

Noncontrolling Interests - Addi

Noncontrolling Interests - Additional Information (Detail Textuals) $ in Thousands	1 Months Ended		12 Months Ended
	Jul. 31, 2015USD ($)	Feb. 28, 2015USD ($)	Dec. 31, 2016USD ($)Entityshares	Dec. 31, 2015USD ($)shares
Noncontrolling Interest [Line Items]
Contributions by noncontrolling partners	$ 7,300		$ 1,272	$ 7,255
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Noncontrolling Interest [Line Items]
Number of third-party joint venture partners | Entity			3
Contributions by noncontrolling partners			$ (1,272)	$ 7,255
Equity interests held by owners of common units and series A preferred units/ retained by seller (percent)			0.80%	1.20%
Common OP units
Noncontrolling Interest [Line Items]
Conversion of common units to common stock (in shares) | shares			280,915	118,474
Series A preferred units
Noncontrolling Interest [Line Items]
Conversion of common units to common stock (in shares) | shares			31,846	1,000
University Walk
Noncontrolling Interest [Line Items]
Contributions by noncontrolling partners		$ 1,500
Cash paid as part of business acquisition		1,100
Adjustment to additional paid in capital as part of business acquisition		$ 400
Partially-owned properties
Noncontrolling Interest [Line Items]
Contributions by noncontrolling partners			$ 1,200

Noncontrolling Interests - Summ

Noncontrolling Interests - Summarized Activity of Redeemable Limited Partners (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Noncontrolling Interest [Roll Forward]
Beginning Balance	$ 59,511
Distributions	(376)	$ (635)	$ (287)
Conversion of redeemable limited partner units into shares of ACC common stock	(11,292)	(3,036)	(602)
Redemption of redeemable limited partner units for cash	(7,311)	(1,065)
Adjustments to reflect redeemable limited partner units at fair value	7,937	(4,462)	8,200
Ending Balance	55,078	59,511
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Noncontrolling Interest [Roll Forward]
Beginning Balance	59,511
Distributions	(376)	(635)	(287)
Conversion of redeemable limited partner units into shares of ACC common stock	(11,292)	(3,036)	(602)
Redemption of redeemable limited partner units for cash	7,311	(1,065)
Adjustments to reflect redeemable limited partner units at fair value	7,937	(4,462)	8,200
Ending Balance	55,078	59,511
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Redeemable noncontrolling interests
Noncontrolling Interest [Roll Forward]
Beginning Balance	59,511	54,472
Net income	1,106	1,458
Distributions	(2,141)	(2,329)
Redeemable limited partner units issued as consideration		14,182
Conversion of redeemable limited partner units into shares of ACC common stock	(11,335)	(3,000)
Redemption of redeemable limited partner units for cash		(810)
Adjustments to reflect redeemable limited partner units at fair value	7,937	(4,462)
Ending Balance	$ 55,078	$ 59,511	$ 54,472

Debt - Summary of outstanding c

Debt - Summary of outstanding consolidated indebtedness (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Secured mortgage, construction and bond debt	$ 688,195	$ 1,094,962
Unamortized deferred financing costs	(149,065)	(597,719)
Long-term Debt	2,125,297	2,948,281
Unsecured notes	1,188,737	1,186,700
Unsecured revolving credit facility	99,300	68,900
Mortgage loans payable
Debt Instrument [Line Items]
Unamortized deferred financing costs	(3,800)
Unamortized debt premiums	26,800	50,800
Unamortized debt discounts		(200)
Long-term Debt	658,134	1,058,831
Construction loans payable
Debt Instrument [Line Items]
Long-term Debt	0	5,559
Unsecured Debt
Debt Instrument [Line Items]
Unamortized deferred financing costs	(9,300)	(11,100)
Unamortized debt discounts	(1,900)	(2,200)
Notes Payable, Other Payables
Debt Instrument [Line Items]
Unamortized deferred financing costs	(900)	(2,300)
Wholly-owned properties, net
Debt Instrument [Line Items]
Secured mortgage, construction and bond debt	583,432	980,282
Long-term Debt	583,432	985,467
Wholly-owned properties, net | Mortgage loans payable
Debt Instrument [Line Items]
Secured mortgage, construction and bond debt	559,642	934,769
Unamortized deferred financing costs	(3,040)	(5,084)
Unamortized debt premiums	26,830	50,763
Unamortized debt discounts	0	(166)
Wholly-owned properties, net | Construction loans payable
Debt Instrument [Line Items]
Secured mortgage, construction and bond debt	0	5,559
Unamortized deferred financing costs	0	(374)
On-campus participating properties, net
Debt Instrument [Line Items]
Unamortized deferred financing costs	(769)	(905)
Long-term Debt	104,763	109,495
On-campus participating properties, net | Mortgage loans payable
Debt Instrument [Line Items]
Secured mortgage, construction and bond debt	71,662	73,465
On-campus participating properties, net | Bonds payable
Debt Instrument [Line Items]
Secured mortgage, construction and bond debt	$ 33,870	$ 36,935

Debt - Mortgage and constructio

Debt - Mortgage and construction loans payable excluding premiums and discounts (Details) - Fixed Rate $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Property	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Principal outstanding | $	$ 631,304	$ 1,013,793
Weighted average interest rate	4.72%
Weighted average years to maturity	5 years 9 months 18 days
Number of properties encumbered | Property	22
Mortgage loans payable
Debt Instrument [Line Items]
Principal outstanding | $	$ 631,304	1,008,234
Weighted average interest rate	4.72%
Weighted average years to maturity	5 years 9 months 18 days
Number of properties encumbered | Property	22
Construction loans payable
Debt Instrument [Line Items]
Principal outstanding | $	$ 0	$ 5,559
Weighted average interest rate
Weighted average years to maturity
Number of properties encumbered | Property	0
Minimum | Mortgage loans payable
Debt Instrument [Line Items]
Weighted average interest rate	3.05%
Maximum | Mortgage loans payable
Debt Instrument [Line Items]
Weighted average interest rate	6.43%

Debt - Mortgage and construct73

Debt - Mortgage and construction loans payable transactions occurred (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Property	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Nov. 30, 2016Property
Debt Instrument [Line Items]
Number of properties | Property	154
Long Term Debt Transactions [Roll Forward]
Beginning Balance	$ 2,948,281
Additions:
Draws under advancing construction notes payable	4,454	$ 258	$ 28,109
Deductions:
Pay-off of mortgage notes payable due to disposition	197,316
Ending Balance	2,125,297	2,948,281
Mortgage loans payable
Long Term Debt Transactions [Roll Forward]
Beginning Balance	1,058,831
Additions:
Mortgage loan formerly classified as construction loan	10,013
Deductions:
Pay-off of maturing mortgage notes payable	(177,655)
Scheduled repayments of principal	(11,972)
Amortization and write off of debt premiums and discounts	(23,767)
Ending Balance	658,134	1,058,831
Construction loans payable
Long Term Debt Transactions [Roll Forward]
Beginning Balance	5,559
Additions:
Mortgage loan formerly classified as construction loan	(10,013)
Deductions:
Pay-off of maturing mortgage notes payable	0
Scheduled repayments of principal	0
Amortization and write off of debt premiums and discounts	0
Ending Balance	0	5,559
The Court at Stadium Centre | Mortgage loans payable
Additions:
Draws under advancing construction notes payable	0
The Court at Stadium Centre | Construction loans payable
Additions:
Draws under advancing construction notes payable	$ 4,454
Wholly owned properties
Debt Instrument [Line Items]
Number of properties | Property	2
Long Term Debt Transactions [Roll Forward]
Beginning Balance	$ 985,467
Deductions:
Ending Balance	$ 583,432	$ 985,467
Wholly owned properties | Mortgage loans payable
Debt Instrument [Line Items]
Number of properties | Property	11			9

Debt - Additional Information (

Debt - Additional Information (Detail Textuals)	Feb. 05, 2016shares	Nov. 30, 2016USD ($)Property	May 31, 2016	Feb. 29, 2016USD ($)shares	Dec. 31, 2016USD ($)PropertySubsidarybond_seriesshares	Dec. 31, 2015USD ($)Propertyshares	Dec. 31, 2014USD ($)shares	Jan. 31, 2016USD ($)	Jan. 29, 2016USD ($)
Debt Instrument [Line Items]
Number of properties | Property					3
Percentage of financing					100.00%
Number of series of taxable bonds issued | bond_series					3
Number of special purpose subsidiaries | Subsidary					3
Number of properties | Property					154
Loss from early extinguishment of debt					$ 12,841,000	$ 1,770,000	$ 0
Revolving Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Weighted average interest rate spread (percent)					1.10%
Annual unused commitment fee (percent)					0.20%
Weighted average interest rate of debt (percent)					2.02%
Interest rate (percent)					0.72%
Common Shares
Debt Instrument [Line Items]
Shares of common stock sold (in shares) | shares				17,940,000	19,429,000	4,933,665	2,206,240
Unsecured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility		$ 350,000,000			$ 500,000,000	$ 500,000,000
Annual unused commitment fee (percent)					0.20%
Revolving credit facility available					$ 400,700,000
Unsecured Debt | Revolving Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Credit facility					650,000,000	1,100,000,000
Unsecured Debt | Revolving Credit Facility | Term Loan
Debt Instrument [Line Items]
Credit facility						$ 600,000,000
Unsecured Debt | Revolving Credit Facility | Term Loan I Facility
Debt Instrument [Line Items]
Credit facility		100,000,000			$ 150,000,000			$ 350,000,000
Repayments of debt		200,000,000
Weighted average annual interest rate (percent)					0.87%
Weighted average interest rate spread (percent)					1.10%
Variable interest rate (percent)					1.97%
Unsecured Debt | Revolving Credit Facility | Term Loan I Facility Maturing March 2021
Debt Instrument [Line Items]
Credit facility								$ 150,000,000	$ 150,000,000
Unsecured Debt | Revolving Credit Facility | Term Loan II Facility
Debt Instrument [Line Items]
Repayments of debt				$ 250,000,000
Amortization of deferred financing costs				$ 1,100,000
Unsecured Debt | Revolving Credit Facility | Term Loan I Facility Maturing January 2017
Debt Instrument [Line Items]
Repayments of debt		$ 200,000,000
Number of properties | Property		19
Amortization of deferred financing costs		$ 100,000
Unsecured Debt | Minimum | Revolving Credit Facility
Debt Instrument [Line Items]
Decrease in basis spread on variable rate (percent)			25.00%
Unsecured Debt | Maximum | Revolving Credit Facility
Debt Instrument [Line Items]
Decrease in basis spread on variable rate (percent)			30.00%
Unsecured Debt | Common Shares | Revolving Credit Facility | Term Loan II Facility
Debt Instrument [Line Items]
Shares of common stock sold (in shares) | shares	17,940,000
Wholly owned properties
Debt Instrument [Line Items]
Number of properties | Property					2
Wholly owned properties | Mortgage loans payable
Debt Instrument [Line Items]
Number of properties | Property		9			11
Wholly owned properties | Mortgage loans payable | Defeasance Costs
Debt Instrument [Line Items]
Repayments of debt					$ 23,800,000
Number of properties | Property					9	4
Amortization of deferred financing costs					$ 11,000,000
Loss from early extinguishment of debt					$ (12,800,000)
Losses associated with early pay-off of loans						$ 1,800,000

Debt - Summary of Bonds payable

Debt - Summary of Bonds payable (Details) - Bonds Payable	12 Months Ended
	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Amount	$ 64,590,000
Principal outstanding	$ 33,870,000
Weighted average rate	7.58%
Required monthly debt service	$ 488,000
Series 1,999
Debt Instrument [Line Items]
Mortgaged facilities subject to leases	University Village-PVAMU/TAMIU
Amount	$ 39,270,000
Principal outstanding	$ 19,025,000
Weighted average rate	7.76%
Maturity date	Sep. 1, 2023
Required monthly debt service	$ 302,000
Series 2,001
Debt Instrument [Line Items]
Mortgaged facilities subject to leases	University College–PVAMU
Amount	$ 20,995,000
Principal outstanding	$ 12,055,000
Weighted average rate	7.62%
Maturity date	Aug. 1, 2025
Required monthly debt service	$ 158,000
Series 2,003
Debt Instrument [Line Items]
Mortgaged facilities subject to leases	University College–PVAMU
Amount	$ 4,325,000
Principal outstanding	$ 2,790,000
Weighted average rate	6.14%
Maturity date	Aug. 1, 2028
Required monthly debt service	$ 28,000

Debt Debt - Summary of Unsecure

Debt Debt - Summary of Unsecured Notes (Details)	12 Months Ended
	Dec. 31, 2016USD ($)
Senior notes
Debt Instrument [Line Items]
Amount	$ 1,200,000,000
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Senior notes
Debt Instrument [Line Items]
Amount	1,200,000,000
Original Issue Discount	2,676,000
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Senior Notes - April 2013
Debt Instrument [Line Items]
Amount	$ 400,000,000
Percentage of par value	99.659%
Coupon (percent)	3.75%
Yield rate (percent)	3.791%
Original Issue Discount	$ 1,364,000
Term (Years)	10 years
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Senior Notes - June 2014
Debt Instrument [Line Items]
Amount	$ 400,000,000
Percentage of par value	99.861%
Coupon (percent)	4.125%
Yield rate (percent)	4.269%
Original Issue Discount	$ 556,000
Term (Years)	10 years
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Senior Notes - September 2015
Debt Instrument [Line Items]
Amount	$ 400,000,000
Percentage of par value	99.811%
Coupon (percent)	3.35%
Yield rate (percent)	3.391%
Original Issue Discount	$ 756,000
Term (Years)	5 years

Debt - Summary of Debt Maturiti

Debt - Summary of Debt Maturities (Details) - Scheduled Principal $ in Thousands	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
2,017	$ 40,356
2,018	272,953
2,019	13,036
2,020	455,046
2,021	382,147
Thereafter	950,936
Total debt	$ 2,114,474

Stockholders' Equity _ Partne78

Stockholders' Equity / Partners' Capital - Additional Information (Detail Textuals) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 29, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2015
Class Of Stock [Line Items]
Proceeds from Issuance of Common Stock		$ 816,065,000	$ 216,666,000	$ 89,317,000
ATM equity program, aggregate offering price authorized		$ 424,000,000
Shares held in deferred compensation plan (in shares)		20,181	10,155
Common shares
Class Of Stock [Line Items]
Shares of common stock sold (in shares)	17,940,000	19,429,000	4,933,665	2,206,240
Price per common stock (in dollars per share)	$ 41.25
Proceeds from Issuance of Common Stock	$ 740,000,000
Proceeds from issuance of common stock, net of discounts and expenses	$ 707,300,000
At Market Atm Twenty Eleven Programs
Class Of Stock [Line Items]
ATM equity program, aggregate offering price authorized					$ 500,000,000
ATM equity program, common stock offering price					$ 194,000,000
Treasury Stock
Class Of Stock [Line Items]
Shares of common stock deposited into deferred compensation plan (in shares)		10,026
Shares held in deferred compensation plan (in shares)		20,181
Over-Allotment Option | Common shares
Class Of Stock [Line Items]
Shares of common stock sold (in shares)	2,340,000

Stockholders' Equity _ Partne79

Stockholders' Equity / Partners' Capital Stockholders' Equity / Partners' Capital - Summary of Equity Program Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Total net proceeds	$ 816,065	$ 216,666	$ 89,317
ATM Equity Program
Class of Stock [Line Items]
Total net proceeds	75,090	213,416
Commissions paid to sales agents	$ 953	$ 3,250
Weighted average price per share (in dollars per share)	$ 51.07	$ 43.92
Shares of common stock sold (in shares)	1,489,000	4,933,665

Incentive Award Plan - Addition

Incentive Award Plan - Additional Information (Detail Textuals) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	May 31, 2015USD ($)	Dec. 31, 2016USD ($)employee$ / sharesshares	Dec. 31, 2015USD ($)$ / shares	Dec. 31, 2014USD ($)$ / shares	May 31, 2010shares
2010 Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, number of shares reserved for issuance (in shares) | shares					1,700,000
Stock-based awards, number of shares available for issuance (in shares) | shares		715,272
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation		$ 900	$ 900	$ 600
Weighted-average grant date fair value, granted (in dollars per share) | $ / shares		$ 46.81	$ 39.65	$ 38.54
Restricted Stock Units | Chairman of the Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, stock granted during period, value	$ 150
Restricted Stock Units | All other members
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, stock granted during period, value	105
Restricted Stock Units | Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, stock granted during period, value	$ 105
Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation		$ 9,300	$ 7,500	$ 6,800
Weighted-average grant date fair value, granted (in dollars per share) | $ / shares		$ 41.41	$ 44.23	$ 34.52
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $ / shares		$ 40.47	$ 38.78	$ 36.75
Restricted stock award vesting period (in years)		5 years
Total fair value of RSAs vested		$ 8,600
Total unrecognized compensation cost		$ 23,900
Total unrecognized compensation cost, weighted-average period (in years)		3 years 1 month 6 days
Minimum age to meet retirement qualification (under Company Plan)		50 years
Minimum combination of employee service years and employee age to meet retirement qualification (under Company Plan)		70 years
Minimum notification period of intention to retire (under Company Plan)		6 months
Number of employees holding unvested awards which will vest upon retirement | employee		12
Number of unvested awards held by individual (in shares) | shares		226,545
Minimum | Restricted Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum number of full years of service to qualify for retirement (under Company Plan)		120 months

Incentive Award Plan - Summary

Incentive Award Plan - Summary of restricted stock units (Details) - Restricted Stock Units - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of RSUs
Granted (in shares)	18,908	22,320
Settled in common shares (in shares)	(15,524)	(16,491)
Settled in cash (in shares)	(3,384)	(5,829)
Weighted-Average Grant Date Fair Value Per RSU
Nonvested, Weighted-Average Grant Date Fair Value, beginning balance (in dollars per share)	$ 0	$ 0
Granted, Weighted-Average Grant Date Fair Value (in dollars per share)	46.81	39.65	$ 38.54
Settled in common shares, Weighted-Average Grant Date Fair Value (in dollars per share)	46.87	39.77
Settled in cash, Weighted-Average Grant Date Fair Value (in dollars per share)	46.55	39.34
Nonvested, Weighted-Average Grant Date Fair Value, ending balance (in dollars per share)	$ 0	$ 0	$ 0

Incentive Award Plan - Summar82

Incentive Award Plan - Summary of restricted stock awards (Details) - Restricted Stock Awards - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of RSAs
Nonvested, beginning balance (in shares)	655,925	609,514
Granted (in shares)	332,717	286,178
Vested (in shares)	(127,352)	(116,166)
Forfeited (in shares)	(88,189)	(123,601)
Nonvested, ending balance (in shares)	773,101	655,925	609,514
Weighted-Average Grant Date Fair Value Per RSA
Nonvested, Weighted-Average Grant Date Fair Value, beginning balance (in dollars per share)	$ 41.12	$ 38.31
Granted, Weighted-Average Grant Date Fair Value (in dollars per share)	41.41	44.23	$ 34.52
Vested, Weighted-Average Grant Date Fair Value (in dollars per share)	40.19	36.50
Forfeited, Weighted-Average Grant Date Fair Value (in dollars per share)	40.47	38.78	36.75
Nonvested, Weighted-Average Grant Date Fair Value, ending balance (in dollars per share)	$ 41.47	$ 41.12	$ 38.31

Derivative Instruments and He83

Derivative Instruments and Hedging Activities - Summary of outstanding interest rate swap contracts (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Derivative [Line Items]
Notional amount	$ 248,584
Fair Value	$ (1,099)
Interest Rate Swap - 2.275% Fixed Rate
Derivative [Line Items]
Effective Date	Feb. 18, 2014
Maturity Date	Feb. 15, 2021
Pay Fixed Rate (percent)	2.275%
Receive Floating Rate Index	LIBOR - 1 month
Notional amount	$ 14,219
Fair Value	$ (329)
Interest Rate Swap - 2.275% Fixed Rate
Derivative [Line Items]
Effective Date	Feb. 18, 2014
Maturity Date	Feb. 15, 2021
Pay Fixed Rate (percent)	2.275%
Receive Floating Rate Index	LIBOR - 1 month
Notional amount	$ 14,365
Fair Value	$ (333)
Interest Rate Swap - 0.8695% Fixed Rate
Derivative [Line Items]
Effective Date	Feb. 2, 2012
Maturity Date	Jan. 2, 2017
Pay Fixed Rate (percent)	0.8695%
Receive Floating Rate Index	LIBOR – 1 month
Notional amount	$ 125,000
Fair Value	$ (2)
Interest Rate Swap - 0.88% Fixed Rate
Derivative [Line Items]
Effective Date	Feb. 2, 2012
Maturity Date	Jan. 2, 2017
Pay Fixed Rate (percent)	0.88%
Receive Floating Rate Index	LIBOR – 1 month
Notional amount	$ 25,000
Fair Value	$ 0
Interest Rate Swap - 1.545% Fixed Rate
Derivative [Line Items]
Effective Date	Nov. 1, 2013
Maturity Date	Oct. 5, 2018
Pay Fixed Rate (percent)	1.545%
Receive Floating Rate Index	LIBOR - 1 month
Notional amount	$ 70,000
Fair Value	$ (435)

Derivative Instruments and He84

Derivative Instruments and Hedging Activities - Additional Information (Detail Textuals 1)	1 Months Ended		12 Months Ended
	Nov. 30, 2016USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jan. 31, 2016USD ($)	Mar. 31, 2014USD ($)Contract
Derivative [Line Items]
Payment for termination of derivative instrument			$ 108,000	$ 0	$ 4,122,000
Notional amount			248,584,000
Forward contracts
Derivative [Line Items]
Reclassification from OCI Into earnings	$ 200,000
Payment for termination of derivative instrument	(100,000)	$ 4,100,000
Number of interest rate swap contracts | Contract							2
Amortization of interest rate swap terminations			400,000	400,000
Termination payment remaining to be amortized			3,100,000	3,500,000
Forward contracts | Interest Rate Swap
Derivative [Line Items]
Notional amount							$ 200,000,000
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Derivative [Line Items]
Payment for termination of derivative instrument			$ 108,000	0	$ 4,122,000
Senior Notes - June 2014 | AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Derivative [Line Items]
Effective interest rate after effect of derivative instruments			4.27%
Revolving Credit Facility | Unsecured Debt
Derivative [Line Items]
Credit facility	350,000,000		$ 500,000,000	$ 500,000,000
Term Loan I Facility | Revolving Credit Facility | Unsecured Debt
Derivative [Line Items]
Repayments of debt	200,000,000
Credit facility	100,000,000		$ 150,000,000			$ 350,000,000
Current borrowing capacity	$ 25,000,000

Derivative Instruments and He85

Derivative Instruments and Hedging Activities - Fair value of derivative financial instruments and classification on consolidated balance sheet (Details) - Designated as hedging instrument - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Liability Derivatives, Interest rate swaps contracts	$ 1,099	$ 2,454
Interest Rate Swap Contracts | Other liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives, Interest rate swaps contracts	$ 1,099	$ 2,454

Fair Value Disclosures - Financ

Fair Value Disclosures - Financial instruments measured at fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Liabilities:
Derivative financial instruments	$ 1,099	$ 2,454
Mezzanine:
Redeemable noncontrolling interests (Company)/Redeemable limited partners (Operating Partnership)	55,078	59,511
Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)
Liabilities:
Derivative financial instruments	0	0
Mezzanine:
Redeemable noncontrolling interests (Company)/Redeemable limited partners (Operating Partnership)	0	0
Significant Other Observable Inputs (Level 2)
Liabilities:
Derivative financial instruments	1,099	2,454
Mezzanine:
Redeemable noncontrolling interests (Company)/Redeemable limited partners (Operating Partnership)	55,078	59,511
Significant Unobservable Inputs (Level 3)
Liabilities:
Derivative financial instruments	0	0
Mezzanine:
Redeemable noncontrolling interests (Company)/Redeemable limited partners (Operating Partnership)	$ 0	$ 0

Fair Value Disclosures - Estima

Fair Value Disclosures - Estimated fair value and related carrying amounts for mortgage loans and bonds payable (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Estimated Fair Value
Assets:
Loans receivable	$ 54,396	$ 48,030
Liabilities:
Unsecured notes	1,211,344	1,180,466
Mortgage loans	644,617	994,809
Bonds payable	37,066	40,716
Carrying Amount
Assets:
Loans receivable	58,539	57,175
Liabilities:
Unsecured notes	1,188,737	1,186,700
Mortgage loans	654,794	1,053,414
Bonds payable	$ 33,401	$ 36,363

Lease Commitments - Additional

Lease Commitments - Additional Information (Detail Textuals) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)university_systemProperty	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Leases Disclosure [Line Items]
Number of properties | Property	154
American campus equity | Owned On Campus Properties
Leases Disclosure [Line Items]
Number of university systems | university_system	13
Number of student housing properties | Property	28
Prepaid ground rent	$ 10.5	$ 8.9
Ground/facility leases	6.2	5.3	$ 4.2
Capitalized rent	$ 0.7	0.4	1.4
Wholly owned properties
Leases Disclosure [Line Items]
Number of properties | Property	2
Wholly owned properties | On-campus participating properties
Leases Disclosure [Line Items]
Number of university systems | university_system	3
Ground/facility leases	$ 3	2.9	3.2
Number of properties | Property	5
Percentage of future net cash flows	50.00%
Wholly owned properties | Off campus properties
Leases Disclosure [Line Items]
Ground/facility leases	$ 2.2	2.2	$ 2
Number of properties | Property	121
Deferred ground rent	$ 3.2	$ 3

Lease Commitments - Future mini

Lease Commitments - Future minimum commitments over life (Details) $ in Thousands	Dec. 31, 2016USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,017	$ 7,671
2,018	8,312
2,019	8,812
2,020	8,925
2,021	8,577
Thereafter	323,914
Total minimum lease payments	$ 366,211

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail Textuals)	1 Months Ended		12 Months Ended
	Dec. 31, 2016USD ($)Property	Aug. 31, 2013USD ($)Contract	Dec. 31, 2016USD ($)PropertyProject
Commitments and Contingencies Disclosure [Line Items]
Number of under development properties | Property	13		13
Alternate Housing Guarantees
Commitments and Contingencies Disclosure [Line Items]
Project cost guarantees expiration (within years following project completion)			5 days
Project Cost Guarantees
Commitments and Contingencies Disclosure [Line Items]
Project cost guarantees expiration (within years following project completion)			1 year
Third-Party Development Projects
Commitments and Contingencies Disclosure [Line Items]
Number of development projects | Project			2
Alternate Housing Guarantees and Project Cost Guarantees
Commitments and Contingencies Disclosure [Line Items]
Estimated maximum exposure under guarantee, amount	$ 1,500,000		$ 1,500,000
Lumberyard Property
Commitments and Contingencies Disclosure [Line Items]
Pre-sale arrangement, purchase price	42,600,000
Drexel University Property
Commitments and Contingencies Disclosure [Line Items]
Lease term		40 years
Number of renewal options | Contract		3
Lease extension period		10 years
Commitment to pay real estate transfer taxes, amount		$ 1,800,000
Real estate transfer taxes paid upon conveyance of land		600,000
Maximum | Drexel University Property
Commitments and Contingencies Disclosure [Line Items]
Commitment to pay real estate transfer taxes, amount		$ 2,400,000
Construction Contracts
Commitments and Contingencies Disclosure [Line Items]
Construction contacts, amount to complete projects	$ 427,200,000		$ 427,200,000

Segments - Additional Informati

Segments - Additional Information (Detail Textuals)	12 Months Ended
	Dec. 31, 2016Segment
Segment Reporting [Abstract]
Identified reportable segments	4

Segment - Summary of Business S

Segment - Summary of Business Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Total revenues	$ 203,972	$ 196,411	$ 185,983	$ 199,995	$ 202,198	$ 180,816	$ 177,874	$ 192,493	$ 786,361	$ 753,381	$ 733,915
Interest expense									(78,687)	(87,789)	(90,362)
Depreciation and amortization									(217,907)	(214,338)	(203,413)
Operating expenses									(613,218)	(596,477)	(578,929)
Property management fees from external customers									9,724	8,813	7,669
Total consolidated revenues, including interest income									791,842	757,802	738,083
Segment operating income before depreciation, amortization and allocation of corporate overhead	51,724	$ 29,278	$ 39,106	$ 53,035	53,725	$ 18,551	$ 34,452	$ 50,176	173,143	156,904	154,986
Gain (loss) from disposition of real estate									21,197	52,699	(368)
Provision for real estate impairment									(4,895)	0	(2,443)
Other nonoperating income									0	388	186
Loss from early extinguishment of debt									(12,841)	(1,770)	0
Income tax provision									(1,150)	(1,242)	(1,308)
Income from continuing operations									100,623	118,061	61,384
Total assets	5,865,913				6,006,248				5,865,913	6,006,248
Operating segments
Segment Reporting Information [Line Items]
Total revenues									810,623	777,508	757,886
Total segment assets	5,786,214				5,919,871				5,786,214	5,919,871	5,715,287
Segment operating income before depreciation, amortization and allocation of corporate overhead									406,964	365,865	336,686
Income from continuing operations									100,623	118,061	61,384
Unallocated corporate assets	79,699				86,377				79,699	86,377	100,757
Total assets	5,865,913				6,006,248				5,865,913	6,006,248	5,816,044
Operating segments | Wholly owned properties
Segment Reporting Information [Line Items]
Rental revenues and other income									738,598	708,018	693,694
Interest income									1,170	1,071	1,079
Total revenues									739,768	709,089	694,773
Operating expenses before depreciation, amortization, ground/facility lease, and allocation of corporate overhead									(332,325)	(330,932)	(331,046)
Ground/facility leases									(6,158)	(5,297)	(4,196)
Interest expense									(18,552)	(30,147)	(42,906)
Operating income before depreciation, amortization and allocation of corporate overhead									382,733	342,713	316,625
Depreciation and amortization									(200,934)	(198,986)	(189,424)
Capital expenditures									485,726	316,468	334,249
Total segment assets	5,672,360				5,804,068				5,672,360	5,804,068	5,598,276
Operating segments | On-campus participating properties, net
Segment Reporting Information [Line Items]
Rental revenues and other income									33,433	31,586	28,534
Interest income									10	2	3
Total revenues									33,443	31,588	28,537
Operating expenses before depreciation, amortization, ground/facility lease, and allocation of corporate overhead									(12,224)	(11,407)	(10,437)
Ground/facility leases									(3,009)	(2,935)	(3,201)
Interest expense									(5,539)	(5,833)	(5,131)
Operating income before depreciation, amortization and allocation of corporate overhead									12,671	11,413	9,768
Depreciation and amortization									(7,343)	(7,034)	(5,688)
Capital expenditures									2,944	2,943	29,621
Total segment assets	103,256				104,641				103,256	104,641	108,968
Operating segments | Development Services
Segment Reporting Information [Line Items]
Operating income before depreciation, amortization and allocation of corporate overhead									(9,157)	(8,768)	(7,865)
Total segment assets	2,601				1,730				2,601	1,730	1,530
Development and construction management fees									4,606	4,964	4,018
Operating expenses									(13,763)	(13,732)	(11,883)
Operating segments | Property Management Services
Segment Reporting Information [Line Items]
Total revenues									32,806	31,867	30,558
Operating income before depreciation, amortization and allocation of corporate overhead									20,717	20,507	18,158
Total segment assets	$ 7,997				$ 9,432				7,997	9,432	6,513
Operating expenses									(12,089)	(11,360)	(12,400)
Property management fees from external customers									9,724	8,813	7,669
Intersegment revenues									23,082	23,054	22,889
Unallocated
Segment Reporting Information [Line Items]
Total revenues									4,301	3,348	3,086
Operating expenses									(90,745)	(83,541)	(67,956)
Elimination of intersegment revenues
Segment Reporting Information [Line Items]
Total revenues									$ (23,082)	$ (23,054)	$ (22,889)

Quarterly Financial Informati93

Quarterly Financial Information (Unaudited) - Information related to quarterly consolidated financial results (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Total revenues	$ 203,972	$ 196,411	$ 185,983	$ 199,995	$ 202,198	$ 180,816	$ 177,874	$ 192,493	$ 786,361	$ 753,381	$ 733,915
Operating income	51,724	29,278	39,106	53,035	53,725	18,551	34,452	50,176	173,143	156,904	154,986
Net income	25,804	9,845	18,765	46,209	28,860	2,016	15,918	71,267	100,623	118,061	64,104
Net income attributable to noncontrolling interests	(412)	(201)	(327)	(622)	(501)	(161)	(338)	(1,070)	(1,562)	(2,070)	(1,265)
Net income attributable to ACC, Inc. and Subsidiaries common stockholders	$ 25,392	$ 9,644	$ 18,438	$ 45,587	$ 28,359	$ 1,855	$ 15,580	$ 70,197	$ 99,061	$ 115,991	$ 62,839
Net income attributable to common stockholders per share - basic (in dollars per share)	$ 0.19	$ 0.07	$ 0.14	$ 0.37	$ 0.25	$ 0.01	$ 0.14	$ 0.63	$ 0.76	$ 1.03	$ 0.59
Net income attributable to common stockholders per share - diluted (in dollars per share)	$ 0.19	$ 0.07	$ 0.14	$ 0.36	$ 0.25	$ 0.01	$ 0.14	$ 0.62	$ 0.75	$ 1.02	$ 0.58
Net income attributable to common stockholders - basic									$ 97,723	$ 114,905	$ 61,763
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Total revenues	$ 203,972	$ 196,411	$ 185,983	$ 199,995	$ 202,198	$ 180,816	$ 177,874	$ 192,493	786,361	753,381	733,915
Operating income	51,724	29,278	39,106	53,035	53,725	18,551	34,452	50,176	173,143	156,904	154,986
Net income	25,804	9,845	18,765	46,209	28,860	2,016	15,918	71,267	100,623	118,061	64,104
Net income attributable to noncontrolling interests	(171)	(77)	(104)	(104)	(105)	(92)	(92)	(323)	(456)	(612)
Series A preferred unit distributions	(31)	(36)	(37)	(42)	(44)	(44)	(44)	(44)	(146)	(176)	(178)
Net income attributable to ACC, Inc. and Subsidiaries common stockholders									$ 100,167	$ 117,449	$ 63,752
Net income attributable to common stockholders per share - basic (in dollars per share)									$ 0.76	$ 1.03	$ 0.59
Net income attributable to common stockholders per share - diluted (in dollars per share)									$ 0.75	$ 1.02	$ 0.58
Net income attributable to common stockholders - basic	$ 25,602	$ 9,732	$ 18,624	$ 46,063	$ 28,711	$ 1,880	$ 15,782	$ 70,900	$ 100,021	$ 117,273	$ 63,574
Net income per unit attributable to common unitholders - basic (in dollars per unit)	$ 0.19	$ 0.07	$ 0.14	$ 0.37	$ 0.25	$ 0.01	$ 0.14	$ 0.63	$ 0.76	$ 1.03	$ 0.59
Net income per unit attributable to common unitholders - diluted (in dollars per unit)	$ 0.19	$ 0.07	$ 0.14	$ 0.36	$ 0.25	$ 0.01	$ 0.14	$ 0.63	$ 0.75	$ 1.02	$ 0.58

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Jan. 25, 2017	Jan. 10, 2017	Jan. 11, 2017	Dec. 31, 2016	Nov. 30, 2016	Jan. 31, 2016	Dec. 31, 2015
Subsequent Event
Subsequent Event [Line Items]
Company dividend paid (in dollars per share)	$ 0.42
Revolving Credit Facility | Unsecured Debt
Subsequent Event [Line Items]
Credit facility				$ 500,000,000	$ 350,000,000		$ 500,000,000
Revolving Credit Facility | Unsecured Debt | Subsequent Event
Subsequent Event [Line Items]
Credit facility			$ 850,000,000
Additional borrowing capacity of unsecured facility (up to)			500,000,000
Revolving Credit Facility | Unsecured Debt | Agreement [Domain] | Subsequent Event
Subsequent Event [Line Items]
Credit facility			700,000,000
Revolving Credit Facility | Unsecured Debt | Term Loan I Facility
Subsequent Event [Line Items]
Credit facility				$ 150,000,000	$ 100,000,000	$ 350,000,000
Revolving Credit Facility | Unsecured Debt | Term Loan I Facility | Subsequent Event
Subsequent Event [Line Items]
Credit facility			$ 150,000,000
Executive Vice President and Chief Financial Officer | Subsequent Event
Subsequent Event [Line Items]
Separation Agreement, Payment For Retirement of Employee		$ 2,138,467

Schedule of Real Estate and A95

Schedule of Real Estate and Accumulated Depreciation - Schedule of Real Estate Properties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)BedUnit	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	31,074
Beds | Bed	95,193
Initial Cost, Land	$ 569,354
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	5,562,952
Costs Capitalized Subsequent to Acquisition/Initial Development	347,093
Total Costs, Land	569,476
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	5,909,923
Total Costs, Total	6,479,399
Accumulated Depreciation	941,238
Encumbrances	665,174
Aggregate costs for federal income tax purposes	6,500,000
Unamortized deferred financing costs	$ (149,065)	$ (597,719)
Wholly owned properties
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	28,987
Beds | Bed	90,107
Initial Cost, Land	$ 569,354
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	5,420,408
Costs Capitalized Subsequent to Acquisition/Initial Development	326,708
Total Costs, Land	569,476
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	5,746,994
Total Costs, Total	6,316,470
Accumulated Depreciation	864,106	792,122	$ 704,521	$ 529,555
Encumbrances	$ 559,642
Wholly owned properties | The Callaway House
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	173
Beds | Bed	538
Initial Cost, Land	$ 5,081
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	20,499
Costs Capitalized Subsequent to Acquisition/Initial Development	9,785
Total Costs, Land	5,081
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	30,284
Total Costs, Total	35,365
Accumulated Depreciation	12,847
Encumbrances	$ 0
Year Built	1,999
Wholly owned properties | The Village at Science Drive
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	192
Beds | Bed	732
Initial Cost, Land	$ 4,673
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	19,021
Costs Capitalized Subsequent to Acquisition/Initial Development	4,221
Total Costs, Land	4,673
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	23,242
Total Costs, Total	27,915
Accumulated Depreciation	9,317
Encumbrances	$ 0
Year Built	2,000
Wholly owned properties | University Village at Boulder Creek
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	82
Beds | Bed	309
Initial Cost, Land	$ 1,035
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	16,393
Costs Capitalized Subsequent to Acquisition/Initial Development	1,829
Total Costs, Land	1,035
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	18,222
Total Costs, Total	19,257
Accumulated Depreciation	7,586
Encumbrances	$ 0
Year Built	2,002
Wholly owned properties | University Village - Fresno
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	105
Beds | Bed	406
Initial Cost, Land	$ 929
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	15,553
Costs Capitalized Subsequent to Acquisition/Initial Development	952
Total Costs, Land	929
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	16,505
Total Costs, Total	17,434
Accumulated Depreciation	6,329
Encumbrances	$ 0
Year Built	2,004
Wholly owned properties | University Village - Temple
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	220
Beds | Bed	749
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	41,119
Costs Capitalized Subsequent to Acquisition/Initial Development	2,793
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	43,912
Total Costs, Total	43,912
Accumulated Depreciation	15,318
Encumbrances	$ 0
Year Built	2,004
Wholly owned properties | College Club Townhomes
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	136
Beds | Bed	544
Initial Cost, Land	$ 1,967
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	16,049
Costs Capitalized Subsequent to Acquisition/Initial Development	3,012
Total Costs, Land	1,967
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	19,061
Total Costs, Total	21,028
Accumulated Depreciation	7,738
Encumbrances	$ 0
Year Built	2,002
Wholly owned properties | University Club Apartments
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	94
Beds | Bed	376
Initial Cost, Land	$ 1,416
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	11,848
Costs Capitalized Subsequent to Acquisition/Initial Development	1,843
Total Costs, Land	1,416
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	13,691
Total Costs, Total	15,107
Accumulated Depreciation	5,077
Encumbrances	$ 0
Year Built	1,999
Wholly owned properties | City Parc at Fry Street
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	136
Beds | Bed	418
Initial Cost, Land	$ 1,902
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	17,678
Costs Capitalized Subsequent to Acquisition/Initial Development	2,129
Total Costs, Land	1,902
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	19,807
Total Costs, Total	21,709
Accumulated Depreciation	7,067
Encumbrances	$ 0
Year Built	2,004
Wholly owned properties | Entrada Real
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	98
Beds | Bed	363
Initial Cost, Land	$ 1,475
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	15,859
Costs Capitalized Subsequent to Acquisition/Initial Development	2,449
Total Costs, Land	1,475
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	18,308
Total Costs, Total	19,783
Accumulated Depreciation	5,784
Encumbrances	$ 0
Year Built	2,000
Wholly owned properties | University Village at Sweethome
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	269
Beds | Bed	828
Initial Cost, Land	$ 2,473
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	34,626
Costs Capitalized Subsequent to Acquisition/Initial Development	2,447
Total Costs, Land	2,473
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	37,073
Total Costs, Total	39,546
Accumulated Depreciation	12,933
Encumbrances	$ 0
Year Built	2,005
Wholly owned properties | University Village - Tallahassee
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	217
Beds | Bed	716
Initial Cost, Land	$ 4,322
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	26,225
Costs Capitalized Subsequent to Acquisition/Initial Development	5,248
Total Costs, Land	4,322
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	31,473
Total Costs, Total	35,795
Accumulated Depreciation	10,200
Encumbrances	$ 0
Year Built	1,991
Wholly owned properties | Royal Village Gainesville
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	118
Beds | Bed	448
Initial Cost, Land	$ 2,386
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	15,153
Costs Capitalized Subsequent to Acquisition/Initial Development	1,962
Total Costs, Land	2,386
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	17,115
Total Costs, Total	19,501
Accumulated Depreciation	5,694
Encumbrances	$ 0
Year Built	1,996
Wholly owned properties | Royal Lexington
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	94
Beds | Bed	364
Initial Cost, Land	$ 2,848
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	12,783
Costs Capitalized Subsequent to Acquisition/Initial Development	5,266
Total Costs, Land	2,848
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	18,049
Total Costs, Total	20,897
Accumulated Depreciation	5,729
Encumbrances	$ 0
Year Built	1,994
Wholly owned properties | Raiders Pass
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	264
Beds | Bed	828
Initial Cost, Land	$ 3,877
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	32,445
Costs Capitalized Subsequent to Acquisition/Initial Development	3,430
Total Costs, Land	3,877
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	35,875
Total Costs, Total	39,752
Accumulated Depreciation	11,453
Encumbrances	$ 0
Year Built	2,001
Wholly owned properties | Aggie Station
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	156
Beds | Bed	450
Initial Cost, Land	$ 1,634
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	18,821
Costs Capitalized Subsequent to Acquisition/Initial Development	1,648
Total Costs, Land	1,634
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	20,469
Total Costs, Total	22,103
Accumulated Depreciation	6,311
Encumbrances	$ 0
Year Built	2,003
Wholly owned properties | The Outpost - San Antonio
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	276
Beds | Bed	828
Initial Cost, Land	$ 3,262
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	36,252
Costs Capitalized Subsequent to Acquisition/Initial Development	2,611
Total Costs, Land	3,262
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	38,863
Total Costs, Total	42,125
Accumulated Depreciation	11,760
Encumbrances	$ 0
Year Built	2,005
Wholly owned properties | Callaway Villas
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	236
Beds | Bed	704
Initial Cost, Land	$ 3,903
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	32,286
Costs Capitalized Subsequent to Acquisition/Initial Development	1,352
Total Costs, Land	3,903
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	33,638
Total Costs, Total	37,541
Accumulated Depreciation	10,673
Encumbrances	$ 0
Year Built	2,006
Wholly owned properties | The Village on Sixth Avenue
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	248
Beds | Bed	752
Initial Cost, Land	$ 2,763
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	22,480
Costs Capitalized Subsequent to Acquisition/Initial Development	3,388
Total Costs, Land	2,763
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	25,868
Total Costs, Total	28,631
Accumulated Depreciation	8,329
Encumbrances	$ 0
Year Built	1,999
Wholly owned properties | Newtown Crossing
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	356
Beds | Bed	942
Initial Cost, Land	$ 7,013
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	53,597
Costs Capitalized Subsequent to Acquisition/Initial Development	1,978
Total Costs, Land	7,013
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	55,575
Total Costs, Total	62,588
Accumulated Depreciation	16,662
Encumbrances	$ 0
Year Built	2,005
Wholly owned properties | Olde Towne University Square
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	224
Beds | Bed	550
Initial Cost, Land	$ 2,277
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	24,614
Costs Capitalized Subsequent to Acquisition/Initial Development	1,494
Total Costs, Land	2,277
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	26,108
Total Costs, Total	28,385
Accumulated Depreciation	8,428
Encumbrances	$ 0
Year Built	2,005
Wholly owned properties | Peninsular Place
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	183
Beds | Bed	478
Initial Cost, Land	$ 2,306
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	16,559
Costs Capitalized Subsequent to Acquisition/Initial Development	1,154
Total Costs, Land	2,306
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	17,713
Total Costs, Total	20,019
Accumulated Depreciation	5,942
Encumbrances	$ 0
Year Built	2,005
Wholly owned properties | University Centre
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	234
Beds | Bed	838
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	77,378
Costs Capitalized Subsequent to Acquisition/Initial Development	3,666
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	81,044
Total Costs, Total	81,044
Accumulated Depreciation	22,224
Encumbrances	$ 0
Year Built	2,007
Wholly owned properties | The Summit & Jacob Heights
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	258
Beds | Bed	930
Initial Cost, Land	$ 2,318
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	36,464
Costs Capitalized Subsequent to Acquisition/Initial Development	1,899
Total Costs, Land	2,318
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	38,363
Total Costs, Total	40,681
Accumulated Depreciation	9,724
Encumbrances	$ 0
Year Built	2,004
Wholly owned properties | GrandMarc Seven Corners
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	186
Beds | Bed	440
Initial Cost, Land	$ 4,491
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	28,807
Costs Capitalized Subsequent to Acquisition/Initial Development	2,043
Total Costs, Land	4,491
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	30,850
Total Costs, Total	35,341
Accumulated Depreciation	8,015
Encumbrances	$ 0
Year Built	2,000
Wholly owned properties | Aztec Corner
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	180
Beds | Bed	606
Initial Cost, Land	$ 17,460
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	32,209
Costs Capitalized Subsequent to Acquisition/Initial Development	1,748
Total Costs, Land	17,460
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	33,957
Total Costs, Total	51,417
Accumulated Depreciation	8,436
Encumbrances	$ 0
Year Built	2,001
Wholly owned properties | Tower at Third
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	188
Beds | Bed	375
Initial Cost, Land	$ 1,145
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	19,128
Costs Capitalized Subsequent to Acquisition/Initial Development	11,450
Total Costs, Land	1,267
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	30,456
Total Costs, Total	31,723
Accumulated Depreciation	8,425
Encumbrances	$ 0
Year Built	1,973
Wholly owned properties | Willowtree Apartments and Tower
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	473
Beds | Bed	851
Initial Cost, Land	$ 9,807
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	21,880
Costs Capitalized Subsequent to Acquisition/Initial Development	3,749
Total Costs, Land	9,807
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	25,629
Total Costs, Total	35,436
Accumulated Depreciation	7,272
Encumbrances	$ 0
Year Built	1,970
Wholly owned properties | University Pointe
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	204
Beds | Bed	682
Initial Cost, Land	$ 989
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	27,576
Costs Capitalized Subsequent to Acquisition/Initial Development	2,901
Total Costs, Land	989
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	30,477
Total Costs, Total	31,466
Accumulated Depreciation	7,977
Encumbrances	$ 0
Year Built	2,004
Wholly owned properties | University Trails
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	240
Beds | Bed	684
Initial Cost, Land	$ 1,183
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	25,173
Costs Capitalized Subsequent to Acquisition/Initial Development	3,112
Total Costs, Land	1,183
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	28,285
Total Costs, Total	29,468
Accumulated Depreciation	7,876
Encumbrances	$ 0
Year Built	2,003
Wholly owned properties | Campus Trails
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	156
Beds | Bed	480
Initial Cost, Land	$ 1,358
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	11,291
Costs Capitalized Subsequent to Acquisition/Initial Development	4,228
Total Costs, Land	1,358
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	15,519
Total Costs, Total	16,877
Accumulated Depreciation	4,491
Encumbrances	$ 0
Year Built	1,991
Wholly owned properties | Vista del Sol (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	613
Beds | Bed	1,866
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	135,939
Costs Capitalized Subsequent to Acquisition/Initial Development	3,446
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	139,385
Total Costs, Total	139,385
Accumulated Depreciation	34,861
Encumbrances	$ 0
Year Built	2,008
Wholly owned properties | Villas at Chestnut Ridge
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	196
Beds | Bed	552
Initial Cost, Land	$ 2,756
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	33,510
Costs Capitalized Subsequent to Acquisition/Initial Development	1,165
Total Costs, Land	2,756
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	34,675
Total Costs, Total	37,431
Accumulated Depreciation	8,918
Encumbrances	$ 0
Year Built	2,008
Wholly owned properties | Barrett Honors College (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	604
Beds | Bed	1,721
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	131,302
Costs Capitalized Subsequent to Acquisition/Initial Development	5,663
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	136,965
Total Costs, Total	136,965
Accumulated Depreciation	31,588
Encumbrances	$ 0
Year Built	2,009
Wholly owned properties | Sanctuary Lofts
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	201
Beds | Bed	487
Initial Cost, Land	$ 2,960
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	18,180
Costs Capitalized Subsequent to Acquisition/Initial Development	3,435
Total Costs, Land	2,960
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	21,615
Total Costs, Total	24,575
Accumulated Depreciation	5,729
Encumbrances	$ 0
Year Built	2,006
Wholly owned properties | Blanton Common
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	276
Beds | Bed	860
Initial Cost, Land	$ 3,788
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	29,662
Costs Capitalized Subsequent to Acquisition/Initial Development	2,216
Total Costs, Land	3,788
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	31,878
Total Costs, Total	35,666
Accumulated Depreciation	6,332
Encumbrances	$ 27,516
Year Built	2,005
Wholly owned properties | The Edge- Charlotte
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	180
Beds | Bed	720
Initial Cost, Land	$ 3,076
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	23,395
Costs Capitalized Subsequent to Acquisition/Initial Development	8,518
Total Costs, Land	3,076
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	31,913
Total Costs, Total	34,989
Accumulated Depreciation	6,088
Encumbrances	$ 0
Year Built	1,999
Wholly owned properties | University Walk
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	120
Beds | Bed	480
Initial Cost, Land	$ 2,016
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	14,599
Costs Capitalized Subsequent to Acquisition/Initial Development	2,758
Total Costs, Land	2,016
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	17,357
Total Costs, Total	19,373
Accumulated Depreciation	3,862
Encumbrances	$ 0
Year Built	2,002
Wholly owned properties | Uptown Apartments
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	180
Beds | Bed	528
Initial Cost, Land	$ 3,031
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	21,685
Costs Capitalized Subsequent to Acquisition/Initial Development	1,907
Total Costs, Land	3,031
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	23,592
Total Costs, Total	26,623
Accumulated Depreciation	4,562
Encumbrances	$ 0
Year Built	2,004
Wholly owned properties | 2nd Ave Centre
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	274
Beds | Bed	868
Initial Cost, Land	$ 4,434
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	27,236
Costs Capitalized Subsequent to Acquisition/Initial Development	3,158
Total Costs, Land	4,434
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	30,394
Total Costs, Total	34,828
Accumulated Depreciation	6,841
Encumbrances	$ 0
Year Built	2,008
Wholly owned properties | Villas at Babcock
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	204
Beds | Bed	792
Initial Cost, Land	$ 4,642
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	30,901
Costs Capitalized Subsequent to Acquisition/Initial Development	411
Total Costs, Land	4,642
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	31,312
Total Costs, Total	35,954
Accumulated Depreciation	8,048
Encumbrances	$ 0
Year Built	2,011
Wholly owned properties | Lobo Village (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	216
Beds | Bed	864
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	42,490
Costs Capitalized Subsequent to Acquisition/Initial Development	710
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	43,200
Total Costs, Total	43,200
Accumulated Depreciation	7,627
Encumbrances	$ 0
Year Built	2,011
Wholly owned properties | Villas on Sycamore
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	170
Beds | Bed	680
Initial Cost, Land	$ 3,000
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	24,640
Costs Capitalized Subsequent to Acquisition/Initial Development	687
Total Costs, Land	3,000
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	25,327
Total Costs, Total	28,327
Accumulated Depreciation	6,835
Encumbrances	$ 0
Year Built	2,011
Wholly owned properties | University Village Northwest (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	36
Beds | Bed	144
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	4,228
Costs Capitalized Subsequent to Acquisition/Initial Development	52
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	4,280
Total Costs, Total	4,280
Accumulated Depreciation	965
Encumbrances	$ 0
Year Built	2,011
Wholly owned properties | 26 West
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	367
Beds | Bed	1,026
Initial Cost, Land	$ 21,396
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	63,994
Costs Capitalized Subsequent to Acquisition/Initial Development	6,002
Total Costs, Land	21,396
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	69,996
Total Costs, Total	91,392
Accumulated Depreciation	11,277
Encumbrances	$ 0
Year Built	2,008
Wholly owned properties | The Varsity
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	258
Beds | Bed	901
Initial Cost, Land	$ 11,605
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	108,529
Costs Capitalized Subsequent to Acquisition/Initial Development	2,090
Total Costs, Land	11,605
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	110,619
Total Costs, Total	122,224
Accumulated Depreciation	15,848
Encumbrances	$ 0
Year Built	2,011
Wholly owned properties | Avalon Heights
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	210
Beds | Bed	754
Initial Cost, Land	$ 4,968
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	24,345
Costs Capitalized Subsequent to Acquisition/Initial Development	8,034
Total Costs, Land	4,968
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	32,379
Total Costs, Total	37,347
Accumulated Depreciation	5,045
Encumbrances	$ 0
Year Built	2,002
Wholly owned properties | University Commons
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	164
Beds | Bed	480
Initial Cost, Land	$ 12,559
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	19,010
Costs Capitalized Subsequent to Acquisition/Initial Development	2,479
Total Costs, Land	12,559
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	21,489
Total Costs, Total	34,048
Accumulated Depreciation	3,348
Encumbrances	$ 0
Year Built	2,003
Wholly owned properties | Casas del Rio (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	283
Beds | Bed	1,028
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	40,639
Costs Capitalized Subsequent to Acquisition/Initial Development	650
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	41,289
Total Costs, Total	41,289
Accumulated Depreciation	10,286
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | The Suites (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	439
Beds | Bed	878
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	45,296
Costs Capitalized Subsequent to Acquisition/Initial Development	410
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	45,706
Total Costs, Total	45,706
Accumulated Depreciation	7,401
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | Hilltop Townhomes (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	144
Beds | Bed	576
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	31,507
Costs Capitalized Subsequent to Acquisition/Initial Development	317
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	31,824
Total Costs, Total	31,824
Accumulated Depreciation	6,527
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | U Club on Frey
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	216
Beds | Bed	864
Initial Cost, Land	$ 8,703
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	36,873
Costs Capitalized Subsequent to Acquisition/Initial Development	378
Total Costs, Land	8,703
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	37,251
Total Costs, Total	45,954
Accumulated Depreciation	6,105
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | Campus Edge on UTA Boulevard
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	128
Beds | Bed	488
Initial Cost, Land	$ 2,661
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	21,233
Costs Capitalized Subsequent to Acquisition/Initial Development	441
Total Costs, Land	2,661
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	21,674
Total Costs, Total	24,335
Accumulated Depreciation	4,432
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | U Club Townhomes on Marion Pugh
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	160
Beds | Bed	640
Initial Cost, Land	$ 6,722
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	26,546
Costs Capitalized Subsequent to Acquisition/Initial Development	697
Total Costs, Land	6,722
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	27,243
Total Costs, Total	33,965
Accumulated Depreciation	5,834
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | Villas on Rensch
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	153
Beds | Bed	610
Initial Cost, Land	$ 10,231
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	33,852
Costs Capitalized Subsequent to Acquisition/Initial Development	494
Total Costs, Land	10,231
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	34,346
Total Costs, Total	44,577
Accumulated Depreciation	6,493
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | The Village at Overton Park
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	163
Beds | Bed	612
Initial Cost, Land	$ 5,262
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	29,374
Costs Capitalized Subsequent to Acquisition/Initial Development	382
Total Costs, Land	5,262
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	29,756
Total Costs, Total	35,018
Accumulated Depreciation	6,183
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | Casa de Oro (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	109
Beds | Bed	365
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	12,362
Costs Capitalized Subsequent to Acquisition/Initial Development	102
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	12,464
Total Costs, Total	12,464
Accumulated Depreciation	2,782
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | The Villas at Vista del Sol (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	104
Beds | Bed	400
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	20,421
Costs Capitalized Subsequent to Acquisition/Initial Development	261
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	20,682
Total Costs, Total	20,682
Accumulated Depreciation	4,663
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | The Block
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	669
Beds | Bed	1,555
Initial Cost, Land	$ 22,270
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	141,430
Costs Capitalized Subsequent to Acquisition/Initial Development	9,175
Total Costs, Land	22,270
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	150,605
Total Costs, Total	172,875
Accumulated Depreciation	18,175
Encumbrances	$ 0
Year Built	2,008
Wholly owned properties | University Pointe at College Station (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	282
Beds | Bed	978
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	84,657
Costs Capitalized Subsequent to Acquisition/Initial Development	1,473
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	86,130
Total Costs, Total	86,130
Accumulated Depreciation	17,950
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | 309 Green
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	110
Beds | Bed	416
Initial Cost, Land	$ 5,351
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	49,987
Costs Capitalized Subsequent to Acquisition/Initial Development	2,172
Total Costs, Land	5,351
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	52,159
Total Costs, Total	57,510
Accumulated Depreciation	6,820
Encumbrances	$ 30,816
Year Built	2,008
Wholly owned properties | The Retreat
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	187
Beds | Bed	780
Initial Cost, Land	$ 5,265
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	46,236
Costs Capitalized Subsequent to Acquisition/Initial Development	1,999
Total Costs, Land	5,265
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	48,235
Total Costs, Total	53,500
Accumulated Depreciation	6,344
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | Lofts54
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	43
Beds | Bed	172
Initial Cost, Land	$ 430
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	14,741
Costs Capitalized Subsequent to Acquisition/Initial Development	960
Total Costs, Land	430
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	15,701
Total Costs, Total	16,131
Accumulated Depreciation	2,221
Encumbrances	$ 10,610
Year Built	2,008
Wholly owned properties | Campustown Rentals
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	264
Beds | Bed	746
Initial Cost, Land	$ 2,382
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	40,190
Costs Capitalized Subsequent to Acquisition/Initial Development	3,604
Total Costs, Land	2,382
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	43,794
Total Costs, Total	46,176
Accumulated Depreciation	6,617
Encumbrances	$ 0
Year Built	1,982
Wholly owned properties | Chauncey Square
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	158
Beds | Bed	386
Initial Cost, Land	$ 2,522
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	40,013
Costs Capitalized Subsequent to Acquisition/Initial Development	1,495
Total Costs, Land	2,522
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	41,508
Total Costs, Total	44,030
Accumulated Depreciation	5,592
Encumbrances	$ 0
Year Built	2,011
Wholly owned properties | Vintage & Texan West Campus
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	124
Beds | Bed	311
Initial Cost, Land	$ 5,937
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	11,906
Costs Capitalized Subsequent to Acquisition/Initial Development	15,304
Total Costs, Land	5,937
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	27,210
Total Costs, Total	33,147
Accumulated Depreciation	3,426
Encumbrances	$ 8,549
Year Built	2,008
Wholly owned properties | The Castilian
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	371
Beds | Bed	623
Initial Cost, Land	$ 3,663
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	59,772
Costs Capitalized Subsequent to Acquisition/Initial Development	33,045
Total Costs, Land	3,663
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	92,817
Total Costs, Total	96,480
Accumulated Depreciation	11,438
Encumbrances	$ 0
Year Built	1,967
Wholly owned properties | Bishops Square
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	134
Beds | Bed	315
Initial Cost, Land	$ 1,206
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	17,878
Costs Capitalized Subsequent to Acquisition/Initial Development	1,190
Total Costs, Land	1,206
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	19,068
Total Costs, Total	20,274
Accumulated Depreciation	2,892
Encumbrances	$ 11,377
Year Built	2,002
Wholly owned properties | Union
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	54
Beds | Bed	120
Initial Cost, Land	$ 169
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	6,348
Costs Capitalized Subsequent to Acquisition/Initial Development	745
Total Costs, Land	169
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	7,093
Total Costs, Total	7,262
Accumulated Depreciation	1,041
Encumbrances	$ 3,536
Year Built	2,006
Wholly owned properties | 922 Place
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	132
Beds | Bed	468
Initial Cost, Land	$ 3,363
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	34,947
Costs Capitalized Subsequent to Acquisition/Initial Development	2,993
Total Costs, Land	3,363
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	37,940
Total Costs, Total	41,303
Accumulated Depreciation	5,522
Encumbrances	$ 30,909
Year Built	2,009
Wholly owned properties | Campustown
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	452
Beds | Bed	1,217
Initial Cost, Land	$ 1,818
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	77,894
Costs Capitalized Subsequent to Acquisition/Initial Development	3,406
Total Costs, Land	1,818
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	81,300
Total Costs, Total	83,118
Accumulated Depreciation	10,382
Encumbrances	$ 0
Year Built	1,997
Wholly owned properties | River Mill
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	243
Beds | Bed	461
Initial Cost, Land	$ 1,741
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	22,806
Costs Capitalized Subsequent to Acquisition/Initial Development	3,001
Total Costs, Land	1,741
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	25,807
Total Costs, Total	27,548
Accumulated Depreciation	3,668
Encumbrances	$ 0
Year Built	1,972
Wholly owned properties | Landmark
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	173
Beds | Bed	606
Initial Cost, Land	$ 3,002
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	118,168
Costs Capitalized Subsequent to Acquisition/Initial Development	833
Total Costs, Land	3,002
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	119,001
Total Costs, Total	122,003
Accumulated Depreciation	14,272
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | Icon Plaza
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	56
Beds | Bed	253
Initial Cost, Land	$ 6,292
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	65,857
Costs Capitalized Subsequent to Acquisition/Initial Development	3,030
Total Costs, Land	6,292
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	68,887
Total Costs, Total	75,179
Accumulated Depreciation	8,323
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | The Province - Greensboro
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	219
Beds | Bed	696
Initial Cost, Land	$ 2,226
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	48,567
Costs Capitalized Subsequent to Acquisition/Initial Development	808
Total Costs, Land	2,226
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	49,375
Total Costs, Total	51,601
Accumulated Depreciation	6,657
Encumbrances	$ 28,129
Year Built	2,011
Wholly owned properties | RAMZ Apts on Broad
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	88
Beds | Bed	172
Initial Cost, Land	$ 785
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	12,303
Costs Capitalized Subsequent to Acquisition/Initial Development	493
Total Costs, Land	785
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	12,796
Total Costs, Total	13,581
Accumulated Depreciation	1,687
Encumbrances	$ 0
Year Built	2,004
Wholly owned properties | The Lofts at Capital Garage
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	36
Beds | Bed	144
Initial Cost, Land	$ 313
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	3,581
Costs Capitalized Subsequent to Acquisition/Initial Development	471
Total Costs, Land	313
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	4,052
Total Costs, Total	4,365
Accumulated Depreciation	635
Encumbrances	$ 0
Year Built	2,000
Wholly owned properties | 25 Twenty
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	249
Beds | Bed	562
Initial Cost, Land	$ 2,226
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	33,429
Costs Capitalized Subsequent to Acquisition/Initial Development	880
Total Costs, Land	2,226
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	34,309
Total Costs, Total	36,535
Accumulated Depreciation	5,203
Encumbrances	$ 26,153
Year Built	2,011
Wholly owned properties | The Province - Louisville
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	366
Beds | Bed	858
Initial Cost, Land	$ 4,392
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	63,068
Costs Capitalized Subsequent to Acquisition/Initial Development	1,156
Total Costs, Land	4,392
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	64,224
Total Costs, Total	68,616
Accumulated Depreciation	8,905
Encumbrances	$ 36,666
Year Built	2,009
Wholly owned properties | West 27th Place
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	161
Beds | Bed	475
Initial Cost, Land	$ 13,900
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	76,720
Costs Capitalized Subsequent to Acquisition/Initial Development	940
Total Costs, Land	13,900
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	77,660
Total Costs, Total	91,560
Accumulated Depreciation	9,243
Encumbrances	$ 38,179
Year Built	2,011
Wholly owned properties | The Province - Rochester
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	336
Beds | Bed	816
Initial Cost, Land	$ 3,798
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	70,955
Costs Capitalized Subsequent to Acquisition/Initial Development	1,956
Total Costs, Land	3,798
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	72,911
Total Costs, Total	76,709
Accumulated Depreciation	9,854
Encumbrances	$ 34,363
Year Built	2,010
Wholly owned properties | 5 Twenty Four & 5 Twenty Five Angliana
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	376
Beds | Bed	1,060
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	60,448
Costs Capitalized Subsequent to Acquisition/Initial Development	1,326
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	61,774
Total Costs, Total	61,774
Accumulated Depreciation	8,654
Encumbrances	$ 25,421
Year Built	2,010
Wholly owned properties | The Province - Tampa
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	287
Beds | Bed	947
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	52,943
Costs Capitalized Subsequent to Acquisition/Initial Development	2,488
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	55,431
Total Costs, Total	55,431
Accumulated Depreciation	7,768
Encumbrances	$ 32,273
Year Built	2,009
Wholly owned properties | U Point Kennesaw
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	216
Beds | Bed	795
Initial Cost, Land	$ 1,482
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	61,654
Costs Capitalized Subsequent to Acquisition/Initial Development	4,131
Total Costs, Land	1,482
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	65,785
Total Costs, Total	67,267
Accumulated Depreciation	9,492
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | The Cottages of Durham
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	141
Beds | Bed	619
Initial Cost, Land	$ 3,955
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	41,421
Costs Capitalized Subsequent to Acquisition/Initial Development	1,876
Total Costs, Land	3,955
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	43,297
Total Costs, Total	47,252
Accumulated Depreciation	7,067
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | The Province - Dayton
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	200
Beds | Bed	657
Initial Cost, Land	$ 1,211
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	32,983
Costs Capitalized Subsequent to Acquisition/Initial Development	(3,866)
Total Costs, Land	1,211
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	29,117
Total Costs, Total	30,328
Accumulated Depreciation	4,978
Encumbrances	$ 0
Year Built	2,009
Wholly owned properties | University Edge
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	201
Beds | Bed	608
Initial Cost, Land	$ 4,500
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	26,385
Costs Capitalized Subsequent to Acquisition/Initial Development	995
Total Costs, Land	4,500
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	27,380
Total Costs, Total	31,880
Accumulated Depreciation	3,467
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | The Lodges of East Lansing phase I & II
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	364
Beds | Bed	1,049
Initial Cost, Land	$ 6,472
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	89,231
Costs Capitalized Subsequent to Acquisition/Initial Development	1,128
Total Costs, Land	6,472
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	90,359
Total Costs, Total	96,831
Accumulated Depreciation	11,392
Encumbrances	$ 29,678
Year Built	2,012
Wholly owned properties | 7th Street Station
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	82
Beds | Bed	309
Initial Cost, Land	$ 9,792
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	16,472
Costs Capitalized Subsequent to Acquisition/Initial Development	442
Total Costs, Land	9,792
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	16,914
Total Costs, Total	26,706
Accumulated Depreciation	2,203
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | U Club on Woodward
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	112
Beds | Bed	448
Initial Cost, Land	$ 6,703
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	21,654
Costs Capitalized Subsequent to Acquisition/Initial Development	209
Total Costs, Land	6,703
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	21,863
Total Costs, Total	28,566
Accumulated Depreciation	3,220
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | The Callaway House Austin
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	219
Beds | Bed	753
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	61,550
Costs Capitalized Subsequent to Acquisition/Initial Development	294
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	61,844
Total Costs, Total	61,844
Accumulated Depreciation	8,441
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | Manzanita (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	241
Beds | Bed	816
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	48,781
Costs Capitalized Subsequent to Acquisition/Initial Development	251
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	49,032
Total Costs, Total	49,032
Accumulated Depreciation	7,278
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | University View (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	96
Beds | Bed	336
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	14,683
Costs Capitalized Subsequent to Acquisition/Initial Development	136
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	14,819
Total Costs, Total	14,819
Accumulated Depreciation	2,169
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | U Club Townhomes at Overton Park
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	112
Beds | Bed	448
Initial Cost, Land	$ 7,775
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	21,483
Costs Capitalized Subsequent to Acquisition/Initial Development	266
Total Costs, Land	7,775
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	21,749
Total Costs, Total	29,524
Accumulated Depreciation	3,143
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | 601 Copeland
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	81
Beds | Bed	283
Initial Cost, Land	$ 1,457
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	26,699
Costs Capitalized Subsequent to Acquisition/Initial Development	184
Total Costs, Land	1,457
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	26,883
Total Costs, Total	28,340
Accumulated Depreciation	3,246
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | The Townhomes at Newtown Crossing
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	152
Beds | Bed	608
Initial Cost, Land	$ 7,745
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	32,074
Costs Capitalized Subsequent to Acquisition/Initial Development	376
Total Costs, Land	7,745
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	32,450
Total Costs, Total	40,195
Accumulated Depreciation	3,926
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | Chestnut Square (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	220
Beds | Bed	861
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	98,369
Costs Capitalized Subsequent to Acquisition/Initial Development	2,088
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	100,457
Total Costs, Total	100,457
Accumulated Depreciation	12,656
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | Park Point
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	300
Beds | Bed	924
Initial Cost, Land	$ 7,827
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	73,495
Costs Capitalized Subsequent to Acquisition/Initial Development	3,867
Total Costs, Land	7,827
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	77,362
Total Costs, Total	85,189
Accumulated Depreciation	8,917
Encumbrances	$ 70,000
Year Built	2,008
Wholly owned properties | U Centre at Fry Street
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	194
Beds | Bed	614
Initial Cost, Land	$ 2,902
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	47,700
Costs Capitalized Subsequent to Acquisition/Initial Development	1,293
Total Costs, Land	2,902
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	48,993
Total Costs, Total	51,895
Accumulated Depreciation	4,969
Encumbrances	$ 0
Year Built	2,012
Wholly owned properties | Cardinal Towne
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	255
Beds | Bed	545
Initial Cost, Land	$ 6,547
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	53,809
Costs Capitalized Subsequent to Acquisition/Initial Development	2,189
Total Costs, Land	6,547
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	55,998
Total Costs, Total	62,545
Accumulated Depreciation	5,426
Encumbrances	$ 37,250
Year Built	2,010
Wholly owned properties | The Standard
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	190
Beds | Bed	610
Initial Cost, Land	$ 4,674
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	57,310
Costs Capitalized Subsequent to Acquisition/Initial Development	834
Total Costs, Land	4,674
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	58,144
Total Costs, Total	62,818
Accumulated Depreciation	4,187
Encumbrances	$ 0
Year Built	2,014
Wholly owned properties | Stanworth Commons Phase I (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	127
Beds | Bed	214
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	30,930
Costs Capitalized Subsequent to Acquisition/Initial Development	17
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	30,947
Total Costs, Total	30,947
Accumulated Depreciation	2,622
Encumbrances	$ 0
Year Built	2,014
Wholly owned properties | The Plaza on University
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	364
Beds | Bed	1,313
Initial Cost, Land	$ 23,987
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	85,584
Costs Capitalized Subsequent to Acquisition/Initial Development	3,118
Total Costs, Land	23,987
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	88,702
Total Costs, Total	112,689
Accumulated Depreciation	8,247
Encumbrances	$ 0
Year Built	2,014
Wholly owned properties | U Centre at Northgate (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	196
Beds | Bed	784
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	35,663
Costs Capitalized Subsequent to Acquisition/Initial Development	144
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	35,807
Total Costs, Total	35,807
Accumulated Depreciation	3,555
Encumbrances	$ 0
Year Built	2,014
Wholly owned properties | University Walk
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	177
Beds | Bed	526
Initial Cost, Land	$ 4,341
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	29,073
Costs Capitalized Subsequent to Acquisition/Initial Development	613
Total Costs, Land	4,341
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	29,686
Total Costs, Total	34,027
Accumulated Depreciation	2,004
Encumbrances	$ 0
Year Built	2,014
Wholly owned properties | Park Point - 2010
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	66
Beds | Bed	226
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	25,725
Costs Capitalized Subsequent to Acquisition/Initial Development	3,182
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	28,907
Total Costs, Total	28,907
Accumulated Depreciation	1,402
Encumbrances	$ 11,261
Year Built	2,010
Wholly owned properties | 1200 West Marshall
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	136
Beds | Bed	406
Initial Cost, Land	$ 4,397
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	33,908
Costs Capitalized Subsequent to Acquisition/Initial Development	1,441
Total Costs, Land	4,397
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	35,349
Total Costs, Total	39,746
Accumulated Depreciation	2,075
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | 8 1/2 Canal Street
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	160
Beds | Bed	540
Initial Cost, Land	$ 2,797
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	45,394
Costs Capitalized Subsequent to Acquisition/Initial Development	1,274
Total Costs, Land	2,797
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	46,668
Total Costs, Total	49,465
Accumulated Depreciation	2,502
Encumbrances	$ 0
Year Built	2,011
Wholly owned properties | Vistas San Marcos
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	255
Beds | Bed	600
Initial Cost, Land	$ 586
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	45,761
Costs Capitalized Subsequent to Acquisition/Initial Development	4,395
Total Costs, Land	586
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	50,156
Total Costs, Total	50,742
Accumulated Depreciation	3,596
Encumbrances	$ 0
Year Built	2,013
Wholly owned properties | Crest at Pearl
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	141
Beds | Bed	343
Initial Cost, Land	$ 4,395
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	36,268
Costs Capitalized Subsequent to Acquisition/Initial Development	858
Total Costs, Land	4,395
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	37,126
Total Costs, Total	41,521
Accumulated Depreciation	1,905
Encumbrances	$ 0
Year Built	2,014
Wholly owned properties | U Club Binghamton - 2005
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	186
Beds | Bed	710
Initial Cost, Land	$ 3,584
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	48,559
Costs Capitalized Subsequent to Acquisition/Initial Development	1,694
Total Costs, Land	3,584
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	50,253
Total Costs, Total	53,837
Accumulated Depreciation	2,262
Encumbrances	$ 0
Year Built	2,005
Wholly owned properties | Stadium Centre
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	367
Beds | Bed	710
Initial Cost, Land	$ 7,424
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	74,932
Costs Capitalized Subsequent to Acquisition/Initial Development	2,042
Total Costs, Land	7,424
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	76,974
Total Costs, Total	84,398
Accumulated Depreciation	3,759
Encumbrances	$ 56,944
Year Built	2,014
Wholly owned properties | 160 Ross
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	182
Beds | Bed	642
Initial Cost, Land	$ 2,962
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	38,478
Costs Capitalized Subsequent to Acquisition/Initial Development	189
Total Costs, Land	2,962
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	38,667
Total Costs, Total	41,629
Accumulated Depreciation	2,188
Encumbrances	$ 0
Year Built	2,015
Wholly owned properties | U Club on Woodward Phase II
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	124
Beds | Bed	496
Initial Cost, Land	$ 9,647
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	25,328
Costs Capitalized Subsequent to Acquisition/Initial Development	81
Total Costs, Land	9,647
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	25,409
Total Costs, Total	35,056
Accumulated Depreciation	1,492
Encumbrances	$ 0
Year Built	2,015
Wholly owned properties | The Summit at University City (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	351
Beds | Bed	1,315
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	154,770
Costs Capitalized Subsequent to Acquisition/Initial Development	466
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	155,236
Total Costs, Total	155,236
Accumulated Depreciation	6,698
Encumbrances	$ 0
Year Built	2,015
Wholly owned properties | 2125 Franklin
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	192
Beds | Bed	734
Initial Cost, Land	$ 8,299
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	55,716
Costs Capitalized Subsequent to Acquisition/Initial Development	202
Total Costs, Land	8,299
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	55,918
Total Costs, Total	64,217
Accumulated Depreciation	2,598
Encumbrances	$ 0
Year Built	2,015
Wholly owned properties | University Crossings - Charlotte
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	187
Beds | Bed	546
Initial Cost, Land	$ 645
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	36,838
Costs Capitalized Subsequent to Acquisition/Initial Development	2,899
Total Costs, Land	645
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	39,737
Total Costs, Total	40,382
Accumulated Depreciation	417
Encumbrances	$ 0
Year Built	2,014
Wholly owned properties | U Point
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	54
Beds | Bed	163
Initial Cost, Land	$ 1,425
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	17,325
Costs Capitalized Subsequent to Acquisition/Initial Development	872
Total Costs, Land	1,425
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	18,197
Total Costs, Total	19,622
Accumulated Depreciation	136
Encumbrances	$ 0
Year Built	2,016
Wholly owned properties | The Court at Stadium Centre
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	80
Beds | Bed	260
Initial Cost, Land	$ 1,825
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	25,884
Costs Capitalized Subsequent to Acquisition/Initial Development	18
Total Costs, Land	1,825
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	25,902
Total Costs, Total	27,727
Accumulated Depreciation	338
Encumbrances	$ 10,012
Year Built	2,016
Wholly owned properties | U Club on 28th
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	100
Beds | Bed	398
Initial Cost, Land	$ 9,725
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	44,907
Costs Capitalized Subsequent to Acquisition/Initial Development	18
Total Costs, Land	9,725
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	44,925
Total Costs, Total	54,650
Accumulated Depreciation	595
Encumbrances	$ 0
Year Built	2,016
Wholly owned properties | Currie Hall (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	178
Beds | Bed	456
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	49,836
Costs Capitalized Subsequent to Acquisition/Initial Development	18
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	49,854
Total Costs, Total	49,854
Accumulated Depreciation	768
Encumbrances	$ 0
Year Built	2,016
Wholly owned properties | University Pointe - 2016
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	134
Beds | Bed	531
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	44,007
Costs Capitalized Subsequent to Acquisition/Initial Development	18
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	44,025
Total Costs, Total	44,025
Accumulated Depreciation	590
Encumbrances	$ 0
Year Built	2,016
Wholly owned properties | Fairview House (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	107
Beds | Bed	633
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	37,620
Costs Capitalized Subsequent to Acquisition/Initial Development	18
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	37,638
Total Costs, Total	37,638
Accumulated Depreciation	654
Encumbrances	$ 0
Year Built	2,016
Wholly owned properties | U Club Sunnyside
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	134
Beds | Bed	534
Initial Cost, Land	$ 7,423
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	41,748
Costs Capitalized Subsequent to Acquisition/Initial Development	17
Total Costs, Land	7,423
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	41,765
Total Costs, Total	49,188
Accumulated Depreciation	626
Encumbrances	$ 0
Year Built	2,016
Wholly owned properties | Merwick Stanworth Phase II (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	198
Beds | Bed	379
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	48,978
Costs Capitalized Subsequent to Acquisition/Initial Development	18
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	48,996
Total Costs, Total	48,996
Accumulated Depreciation	617
Encumbrances	$ 0
Year Built	2,016
Wholly owned properties | University Walk - 2014
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	260
Beds | Bed	1,016
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	50,668
Costs Capitalized Subsequent to Acquisition/Initial Development	38,810
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	89,478
Total Costs, Total	89,478
Accumulated Depreciation	18,897
Encumbrances	$ 0
Year Built	2,003
Wholly owned properties | Arizona State University Residence Hall (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	429
Beds | Bed	1,594
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	67,725
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	67,725
Total Costs, Total	67,725
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,017
Wholly owned properties | Sky View (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	163
Beds | Bed	626
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	31,189
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	31,189
Total Costs, Total	31,189
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,017
Wholly owned properties | University Square (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	143
Beds | Bed	466
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	14,778
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	14,778
Total Costs, Total	14,778
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,017
Wholly owned properties | U Centre on Turner
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	182
Beds | Bed	718
Initial Cost, Land	$ 14,000
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	36,036
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	14,000
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	36,036
Total Costs, Total	50,036
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,017
Wholly owned properties | U Pointe on Speight
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	180
Beds | Bed	700
Initial Cost, Land	$ 4,705
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	22,543
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	4,705
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	22,543
Total Costs, Total	27,248
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,017
Wholly owned properties | 21Hundred @ Overton Park
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	296
Beds | Bed	1,204
Initial Cost, Land	$ 16,767
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	43,781
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	16,767
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	43,781
Total Costs, Total	60,548
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,017
Wholly owned properties | Suites at 3rd
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	63
Beds | Bed	251
Initial Cost, Land	$ 831
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	10,395
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	831
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	10,395
Total Costs, Total	11,226
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,017
Wholly owned properties | U Club Binghamton II
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	140
Beds | Bed	562
Initial Cost, Land	$ 12,274
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	23,407
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	12,274
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	23,407
Total Costs, Total	35,681
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,017
Wholly owned properties | The Callaway House Apartments - 2017
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	386
Beds | Bed	915
Initial Cost, Land	$ 12,651
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	39,490
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	12,651
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	39,490
Total Costs, Total	52,141
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,017
Wholly owned properties | U Centre on College
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	127
Beds | Bed	418
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	25,408
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	25,408
Total Costs, Total	25,408
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,017
Wholly owned properties | Bancroft Residence Hall (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	412
Beds | Bed	781
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	11,286
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	11,286
Total Costs, Total	11,286
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,018
Wholly owned properties | Virginia Commonwealth University (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	592
Beds | Bed	1,524
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	14,020
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	14,020
Total Costs, Total	14,020
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,018
Wholly owned properties | Butler University Phase II (ACE)
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	197
Beds | Bed	648
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	2,416
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	2,416
Total Costs, Total	2,416
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,018
Wholly owned properties | The Edge at Stadium Centre
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	111
Beds | Bed	412
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	1,923
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	1,923
Total Costs, Total	1,923
Accumulated Depreciation	0
Encumbrances	$ 0
Year Built	2,018
Wholly owned properties | Undeveloped land parcels
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	0
Beds | Bed	0
Initial Cost, Land	$ 38,468
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	0
Costs Capitalized Subsequent to Acquisition/Initial Development	0
Total Costs, Land	38,468
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	0
Total Costs, Total	38,468
Accumulated Depreciation	0
Encumbrances	$ 0
On-campus participating properties
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	2,087
Beds | Bed	5,086
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	142,544
Costs Capitalized Subsequent to Acquisition/Initial Development	20,385
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	162,929
Total Costs, Total	162,929
Accumulated Depreciation	77,132	69,856	$ 62,915	$ 57,249
Encumbrances	105,532
Unamortized deferred financing costs	$ (769)	(905)
On-campus participating properties | University Village – PVAMU
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	612
Beds | Bed	1,920
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	36,506
Costs Capitalized Subsequent to Acquisition/Initial Development	8,804
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	45,310
Total Costs, Total	45,310
Accumulated Depreciation	32,442
Encumbrances	$ 16,501
Year Built	1,997
On-campus participating properties | University College - PVAMU
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	756
Beds | Bed	1,470
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	22,650
Costs Capitalized Subsequent to Acquisition/Initial Development	5,977
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	28,627
Total Costs, Total	28,627
Accumulated Depreciation	17,906
Encumbrances	$ 14,845
Year Built	2,001
On-campus participating properties | University Village - TAMIU
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	84
Beds | Bed	250
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	5,844
Costs Capitalized Subsequent to Acquisition/Initial Development	1,371
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	7,215
Total Costs, Total	7,215
Accumulated Depreciation	5,223
Encumbrances	$ 2,524
Year Built	1,997
On-campus participating properties | Cullen Oaks Phase I and II
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	411
Beds | Bed	879
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	33,910
Costs Capitalized Subsequent to Acquisition/Initial Development	4,050
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	37,960
Total Costs, Total	37,960
Accumulated Depreciation	17,334
Encumbrances	$ 28,584
Year Built	2,003
On-campus participating properties | College Park
Real Estate and Accumulated Depreciation [Line Items]
Units | Unit	224
Beds | Bed	567
Initial Cost, Land	$ 0
Initial Cost, Buildings and Improvements and Furniture, Fixtures and Equipment	43,634
Costs Capitalized Subsequent to Acquisition/Initial Development	183
Total Costs, Land	0
Total Costs, Buildings and Improvements and Furniture, Fixtures and Equipment	43,817
Total Costs, Total	43,817
Accumulated Depreciation	4,227
Encumbrances	$ 43,078
Year Built	2,014
Mortgages
Real Estate and Accumulated Depreciation [Line Items]
Unamortized debt premiums	$ 26,800	50,800
Unamortized deferred financing costs	(3,800)
Mortgages | Wholly owned properties
Real Estate and Accumulated Depreciation [Line Items]
Unamortized debt premiums	26,830	50,763
Unamortized deferred financing costs	$ (3,040)	$ (5,084)

Schedule of Real Estate and A96

Schedule of Real Estate and Accumulated Depreciation - Changes in investments in real estate and related accumulated depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accumulated Depreciation:
Balance, end of year	$ (941,238)
Wholly owned properties
Investments in Real Estate:
Balance, beginning of year	6,369,747	$ 6,144,242	$ 5,742,971
Acquisition of land for development	6,338	39,583	3,627
Acquisition of properties	99,426	361,265	71,269
Improvements and development expenditures	522,723	306,659	361,369
Write off of fully depreciated or damaged assets	(227)	(1,240)	(1,853)
Provision for real estate impairment	(4,895)	0	(2,443)
Disposition of real estate	(676,642)	(480,762)	(30,698)
Balance, end of year	6,316,470	6,369,747	6,144,242
Accumulated Depreciation:
Balance, beginning of year	(792,122)	(704,521)	(529,555)
Depreciation for the year	(197,105)	(191,661)	(182,756)
Write off of fully depreciated or damaged assets	227	1,240	1,281
Disposition of properties	124,894	102,820	6,509
Balance, end of year	(864,106)	(792,122)	(704,521)
On-campus participating properties
Investments in Real Estate:
Balance, beginning of year	159,985	157,043	130,705
Acquisition of land for development	0	0	0
Acquisition of properties	0	0	0
Improvements and development expenditures	2,944	2,942	26,338
Write off of fully depreciated or damaged assets	0	0	0
Provision for real estate impairment	0	0	0
Disposition of real estate	0	0	0
Balance, end of year	162,929	159,985	157,043
Accumulated Depreciation:
Balance, beginning of year	(69,856)	(62,915)	(57,249)
Depreciation for the year	(7,276)	(6,941)	(5,666)
Write off of fully depreciated or damaged assets	0	0	0
Disposition of properties	0	0	0
Balance, end of year	$ (77,132)	$ (69,856)	$ (62,915)