8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington D.C., 20549

                                    Form 8-K

                                 Current Report
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

          Date Of Report (Date Of Earliest Event Reported): 01/06/2005

                        American Campus Communities, Inc.
             (Exact Name of Registrant as Specified in its Charter)

                        Commission File Number: 001-32265

                MD                                           760753089
 (State or Other Jurisdiction Of                         (I.R.S. Employer
 Incorporation or Organization)                          Identification No.)

                         805 Las Cimas Parkway Suite 400
                                Austin, TX 78746
          (Address of Principal Executive Offices, Including Zip Code)

                                  512-732-1000
              (Registrant's Telephone Number, Including Area Code)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[  ]   Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

[  ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17CFR240.14a-12)

[  ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act(17CFR240.14d-2(b))

[  ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act(17CFR240.13e-4(c))

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                       Items to be Included in this Report

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Item 7.01.    Regulation FD Disclosure.
      On January 6, 2005, American Campus Communities, Inc. announced completion
of the sale of University Village at San Bernardino to California State
University, San Bernardino. The University exercised an option to purchase the
132-unit, 480-bed property for the option price of $28,250,000, or approximately
$59,000 per bed.

      The press release is furnished pursuant to Item 7.01 and shall not be
deemed "filed" for purposes of Section 18 of the Securities Act of 1934 (the
"Exchange Act"), or subject to the liabilities of that Section. The information
in this Current Report shall not be incorporated by reference in any filing
under the Securities Act of 1933 or the Exchange Act, except as shall be
expressly set forth by specific reference in such filing.

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                                  Signature(s)

      Pursuant to the Requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
Undersigned hereunto duly authorized.

                                             American Campus Communities, Inc.



                                        By:  /s/ Mark J. Hager
Date: January 6, 2005.                      ------------------------------
                                                 Mark J. Hager
                                                Executive Vice President, Chief
                                                Financial and Accounting Officer
                                                and Treasurer


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                                  Exhibit Index

 Exhibit No.  Description
  -------     ------------
  EX-99.1     Press Release Dated January 6, 2005

EX-99.1

                                                                    EXHIBIT 99.1

American Campus Communities Completes Sale of University Village at San
Bernardino to California State University, San Bernardino

     AUSTIN, Texas--(BUSINESS WIRE)--Jan. 6, 2005--American Campus Communities,
Inc. (NYSE:ACC), one of the nation's largest developers, owners and managers of
high-quality student housing properties, today announced completion of the sale
of University Village at San Bernardino to California State University, San
Bernardino. As previously announced, the University exercised an option to
purchase the property for the option price of $28,250,000, or approximately
$59,000 per bed.
     "We're currently exploring numerous opportunities to redeploy the capital
received from this transaction at accretive yields," said Bill Bayless, ACC's
president and chief executive officer.
     American Campus Communities developed the 132-unit/480-bed community, which
opened for occupancy in September 2004.

     About American Campus Communities

     American Campus Communities, Inc. is the only publicly traded REIT solely
focused on student housing in the United States. The company is a fully
integrated, self-managed and self-administered equity real estate investment
trust (REIT) with expertise in the acquisition, design, finance, development,
construction management, leasing and management of student housing properties.
American Campus Communities owns and manages a portfolio of 16 high-quality
student housing properties containing approximately 12,100 beds, and provides
management and leasing services at a total of 34 properties with more than
23,500 beds located on or near college and university campuses. Additional
information is available at www.studenthousing.com.

     Forward-Looking Statements

     Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995: This release contains forward-looking statements, which express the
current beliefs and expectations of management. Such statements are based on
current expectations and involve a number of known and unknown risks and
uncertainties that could cause our future results, performance or achievements
to differ significantly from the results, performance or achievements expressed
or implied by such forward-looking statements. Forward-looking statements speak
only as of the date on which they are made, and we undertake no obligation to
update publicly or revise any forward-looking statement, whether as a result of
new information, future developments or otherwise.


     CONTACT: American Campus Communities, Inc., Austin
              Joe Allen, 512-732-1000