ACC Secures $191M Financing for 1,065-Bed Student Housing at UC Irvine

American Campus Communities (ACC) has closed on $191 million in financing for a student housing development on the University of California, Irvine campus. The project will deliver 1,065 beds across 308 furnished units ranging from studios to four-bedroom layouts, aimed at undergraduates.

The Collegiate Housing Foundation will act as owner, borrower and lessee of the community. The two-building project spans roughly 387,000 square feet and is scheduled for completion in fall 2028. KTGY and Benchmark form the development team, and the project is targeting LEED Gold certification.

Planned amenities include study areas, indoor social lounges, furnished outdoor courtyards, bicycle storage and laundry facilities. The article notes the ACC and UC Irvine partnership runs 25 years and will eventually include 8,700 beds in total.

For developers and lenders, the deal shows institutional capital continuing to back on-campus student housing under long-term university partnerships with defined ownership and lease structures.