Deal details
Blackstone Acquisition of American Campus Communities - HoldCo Financing
Description
American Campus Communities is a publicly traded REIT that is the largest developer, owner, and manager of high-quality student housing communities in the U.S. Blackstone announced their acquisition of ACC in April 2022. The financing relates exclusively to the portion of the portfolio that includes on-campus housing underpinned by public-private partnership agreements / long term ground leases with the universities.The Portfolio HoldCo structure which will incorporate 34 on campus assets with long term Ground Lease Concessions. ACC’s on campus portfolio consists of over 27,000 beds and $3.7bn of enterprise value across 18 universities.
Assets involved
Companies involved
- Blackstone Group
- Societe Generale, Canadian Imperial Bank of Commerce (CIBC)
- KeyBank, Sumitomo Mitsui Banking Corporation (SMBC), MUFG
- MUFG, Societe Generale, Canadian Imperial Bank of Commerce (CIBC), National Australia Bank (NAB), KeyBank, Sumitomo Mitsui Banking Corporation (SMBC)
- Sumitomo Mitsui Banking Corporation (SMBC)
- Sumitomo Mitsui Banking Corporation (SMBC), MUFG, KeyBank
- Paul Hastings
- Sumitomo Mitsui Banking Corporation (SMBC)
- Sumitomo Mitsui Banking Corporation (SMBC)
- Simpson Thacher Bartlett
Key information
ABACUS PF BORROWER A LLC
2700$m
09-08-2022
Social infrastructure / Social housing
United States
Project & Infrastructure Finance
PPP
Tranche information
Term Loan
2,700$
Term Loan
2700$m
US Dollar - USD
0
5.0 years
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-
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Participant | role | ticket size |
---|---|---|
MUFG | MLA | 300$m |
Sumitomo Mitsui Banking Corporation (SMBC) | MLA | 1,700$m |
KeyBank | MLA | 300$m |
Canadian Imperial Bank of Commerce (CIBC) | MLA | 150$m |
Societe Generale | MLA | 150$m |
National Australia Bank (NAB) | MLA | 100$m |