CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating activities
Net income	$ 31,796	$ 64,974
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for real estate impairment	15,317	0
Loss (gain) from disposition of real estate	632	(17,409)
Depreciation and amortization	108,266	107,419
Amortization of deferred financing costs and debt premiums/discounts	(1,806)	(2,372)
Share-based compensation	8,902	5,492
Income tax provision	524	690
Amortization of interest rate swap terminations and other	204	205
Changes in operating assets and liabilities:
Restricted cash	(2,189)	(4,238)
Student contracts receivable, net	1,239	11,283
Other assets	(13,814)	5,830
Accounts payable and accrued expenses	(16,020)	(11,849)
Other liabilities	(4,413)	(8,730)
Net cash provided by operating activities	128,638	151,295
Investing activities
Proceeds from disposition of properties	24,462	72,640
Cash paid for acquisition of operating and under development properties	(157,967)	(57,132)
Cash paid for land acquisitions	(16,955)	(856)
Change in escrow deposits for real estate investments	225	5,450
Change in restricted cash related to capital reserves	41	(928)
Purchase of corporate furniture, fixtures and equipment	(3,562)	(3,377)
Net cash used in investing activities	(431,354)	(195,610)
Financing activities
Proceeds from sale of common stock	189,757	740,025
Offering costs	(2,354)	(31,972)
Pay-off of mortgage and construction loans	0	(34,226)
Pay-off of unsecured term loans	0	(400,000)
Proceeds from unsecured term loan	200,000	150,000
Proceeds from revolving credit facility	478,600	67,700
Paydowns of revolving credit facility	(435,614)	(136,600)
Proceeds from construction loans	1,037	0
Scheduled principal payments on debt	(6,494)	(7,771)
Debt issuance and assumption costs	(5,840)	(744)
Contributions by noncontrolling interest	8,158	0
Taxes paid on net-share settlements	(4,283)	(2,977)
Distributions to common and restricted stockholders	(115,811)	(107,639)
Distributions to noncontrolling interests	(1,104)	(1,402)
Net cash provided by financing activities	306,052	234,394
Net change in cash and cash equivalents	3,336	190,079
Cash and cash equivalents at beginning of period	22,140	16,659
Cash and cash equivalents at end of period	25,476	206,738
Supplemental disclosure of non-cash investing and financing activities
Loans assumed in connection with property acquisitions	0	(10,012)
Conversion of common and preferred operating partnership units to common stock	0	259
Non-cash contribution from noncontrolling interest	3,000	0
Non-cash consideration exchanged in purchase of land parcel	(3,071)	0
Change in accrued construction in progress	25,214	27,472
Change in fair value of derivative instruments, net	435	(1,638)
Change in fair value of redeemable noncontrolling interests	2,092	(14,879)
Supplemental disclosure of cash flow information
Cash paid for interest, net of amounts capitalized	32,925	49,621
Wholly-owned properties
Investing activities
Capital expenditures for wholly-owned properties/on-campus participating properties	(36,026)	(23,185)
Investments in wholly-owned properties under development	(240,702)	(187,158)
On-campus participating properties
Investing activities
Capital expenditures for wholly-owned properties/on-campus participating properties	(870)	(1,064)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P.
Operating activities
Net income	31,796	64,974
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for real estate impairment	15,317	0
Loss (gain) from disposition of real estate	632	(17,409)
Depreciation and amortization	108,266	107,419
Amortization of deferred financing costs and debt premiums/discounts	(1,806)	(2,372)
Share-based compensation	8,902	5,492
Income tax provision	524	690
Amortization of interest rate swap terminations and other	204	205
Changes in operating assets and liabilities:
Restricted cash	(2,189)	(4,238)
Student contracts receivable, net	1,239	11,283
Other assets	(13,814)	5,830
Accounts payable and accrued expenses	(16,020)	(11,849)
Other liabilities	(4,413)	(8,730)
Net cash provided by operating activities	128,638	151,295
Investing activities
Proceeds from disposition of properties	24,462	72,640
Cash paid for acquisition of operating and under development properties	(157,967)	(57,132)
Cash paid for land acquisitions	(16,955)	(856)
Change in escrow deposits for real estate investments	225	5,450
Change in restricted cash related to capital reserves	41	(928)
Purchase of corporate furniture, fixtures and equipment	(3,562)	(3,377)
Net cash used in investing activities	(431,354)	(195,610)
Financing activities
Proceeds from issuance of common units in exchange for contributions, net	187,403	708,053
Pay-off of mortgage and construction loans	0	(34,226)
Pay-off of unsecured term loans	0	(400,000)
Proceeds from unsecured term loan	200,000	150,000
Proceeds from revolving credit facility	478,600	67,700
Paydowns of revolving credit facility	(435,614)	(136,600)
Proceeds from construction loans	1,037	0
Scheduled principal payments on debt	(6,494)	(7,771)
Debt issuance and assumption costs	(5,840)	(744)
Contributions by noncontrolling interest	8,158	0
Taxes paid on net-share settlements	(4,283)	(2,977)
Net cash provided by financing activities	306,052	234,394
Net change in cash and cash equivalents	3,336	190,079
Cash and cash equivalents at beginning of period	22,140	16,659
Cash and cash equivalents at end of period	25,476	206,738
Supplemental disclosure of non-cash investing and financing activities
Loans assumed in connection with property acquisitions	0	(10,012)
Conversion of common and preferred operating partnership units to common stock	0	259
Non-cash contribution from noncontrolling interest	3,000	0
Non-cash consideration exchanged in purchase of land parcel	(3,071)	0
Change in accrued construction in progress	25,214	27,472
Change in fair value of derivative instruments, net	435	(1,638)
Change in fair value of redeemable noncontrolling interests	2,092	(14,879)
Supplemental disclosure of cash flow information
Cash paid for interest, net of amounts capitalized	32,925	49,621
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Common and preferred units
Financing activities
Distributions paid	(115,902)	(108,066)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Unvested restricted awards
Financing activities
Distributions paid	(857)	(722)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Partially owned properties
Financing activities
Distributions paid	(156)	(253)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | Wholly-owned properties
Investing activities
Capital expenditures for wholly-owned properties/on-campus participating properties	(36,026)	(23,185)
Investments in wholly-owned properties under development	(240,702)	(187,158)
AMERICAN CAMPUS COMMUNITIES OPERATING PARTNERSHIP, L.P. | On-campus participating properties
Investing activities
Capital expenditures for wholly-owned properties/on-campus participating properties	$ (870)	$ (1,064)