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): 2/8/05

                        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))



                       Items to be Included in this Report


Item 2.01 - Completion of Acquisition or Disposition of Assets

      On February 7, 2005, American Campus Communities, Inc. announced the
completion of the acquisition of four student housing communities located near
the campuses of Florida State University, the University of Florida and Florida
A&M University. The properties contain a total of 1,528 beds and were acquired
for an aggregate purchase price of approximately $47.5 million, including the
assumption of approximately $31.0 million of existing fixed-rate mortgage debt.
The acquisition of a fifth property for an aggregate purchase price of
approximately $6.0 million and assumption of approximately $4.4 million in
existing fixed-rate mortgage debt is expected to close by the end of February
2005.

      The press release is furnished pursuant to Item 2.01 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.




                                  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: February 8, 2005                   --------------------------------------
                                                Mark J. Hager
                                          Executive Vice President,
                                          Chief Financial and Accounting Officer
                                          and Treasurer






                                  Exhibit Index

Exhibit No.    Description
- -----------    -----------

  EX-99.1      Press Release Dated February 7, 2005

EX-99.1

                                                                    Exhibit 99.1

       American Campus Communities Completes the Acquisition of
              Four Student Housing Properties in Florida

    AUSTIN, Texas--(BUSINESS WIRE)--Feb. 7, 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 the completion of the acquisition of four student housing
communities located near the campuses of Florida State University,
Florida A&M University and the University of Florida. The properties
contain a total of 1,528 beds and were acquired for an aggregate
purchase price of approximately $47.5 million, including the
assumption of approximately $31.0 million of existing fixed-rate
mortgage debt. The four properties are part of the previously
announced acquisition of five student communities in Florida. The
acquisition of the fifth property for an aggregate purchase price of
approximately $6.0 million and the assumption of approximately $4.4
million in existing fixed-rate mortgage debt is expected to close by
the end of February 2005.
    "This is a transaction that reflects our strategy of enhancing
shareholder value by expanding our portfolio of high-quality,
well-located student housing properties," said Bill Bayless, ACC
president and chief executive officer. "We are continuing to assess
numerous opportunities to develop and acquire premier student housing
assets in markets with growing student populations."
    The acquired properties include two communities near Florida A&M
University in Tallahassee, College Club and The Greens at College
Club, containing a total of 544 beds; one community near the
University of Florida in Gainesville, the University Club, containing
376 beds; and one community near Florida State University in
Tallahassee, the University Club, containing 608 beds. The company
also is under contract to purchase The Grove at University Club, a
128-bed community adjacent to the University Club Tallahassee.

    About American Campus Communities

    American Campus Communities Inc. is one of the largest developers,
owners and managers of high-quality student housing communities 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 design, finance, development, construction
management, leasing and management of student housing properties.
American Campus Communities owns and manages a portfolio of 21 student
housing communities containing approximately 14,000 beds, and provides
management and leasing services at a total of 40 properties with more
than 25,300 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, 512-732-1009