Student Housing Business

NOV-DEC 2017

Student Housing Business is the voice of the student housing industry.

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Page 26 of 130

NE WS IN BRIEF November/December 2017 26 TM Simply Exceptional Connections Contact US TODAY 800.677.6812 OUR FIBER network brings gigabit speeds and even faster leasing ACC'S BILL BAYLESS WINS ERNST & YOUNG ENTREPRENEUR OF THE YEAR Palm Springs, Calif. — Bill Bayless, CEO of American Campus Communities, has received the Ernst & Young Entrepreneur of the Year award in the real estate, construction and lodging cat- egory. The award was given at Ernst & Young's Strategic Growth Forum in Palm Springs, California. Recognized as one of the most prestigious business award programs in the coun- try, the Entrepreneur of the Year Awards celebrate the country's most innovative business leaders. The program has honored leading entrepreneurs including Howard Schultz of Starbucks Coffee, John Mackey of Whole Foods Market, Pierre Omidyar of eBay, Reid Hoffman and Jeff Weiner of LinkedIn and Mindy Grossman of HSN. "Once again, the hard work and success of the American Campus Communities team have resulted in personal accolades," says Bayless. "I am humbled and honored by this recognition and am thrilled that the entrepreneur- ial spirit of hard work, innovation and pursuing your passion thrives at our company." "The timing of this honor is truly special as we are about to embark on our 25th anniversary," continues Bayless. "The ACC team's commitment and dedication to putting stu- dents first continues to inspire me to further build on the mission we set upon in 1993. It is truly hum- bling to reflect on my own start as a resident assistant and on our early dreams and goals as a young startup company with visions of revolutionizing the student expe- rience and mainstreaming student housing as an asset class." Phoenix — NorthMarq Capital has secured an $11 million loan to facilitate the refinance and conversion of GC Square Apartments, a 163-unit multifamily community located near Grand Canyon University in Phoenix, into student housing. The property will be the first off campus property to directly serve the Grand Canyon University student base. Luke Donahue and Griffin Martin of NorthMarq secured the non-recourse, interest-only loan on behalf of the undisclosed borrower. NORTHMARQ SECURES $11 MILLION FINANCING FOR MULTIFAMILY CONVERSION PROJECT Bill Bayless, CEO of American Campus Communities

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