Sophomore Blues: Big Student Housing Player Slumps

About a year ago, the real estate investment trust American Campus Communities acquired The Vuea 468-bed apartment complex across the street from Arizona site internet State University in Tempe. In a press release announcing the acquisition, CEO Bill Bayless said that the complex demonstrates “our investment criteria of differentiated products in close proximity to campus in submarkets with high barriers to entry.” The Vue was indeed a differentiated productbut not in the way Bayless wanted it to be. In the years leading up to ACC’s acquisition, Arizona State students referred to the property as “Club Vue.” YouTube videos circa-2010 documented the bare-chested, bare-knuckled “Vue Fight Club” events taking place in the complex’s pool while hundreds of onlookers cheered “A-S-U! A-S-U!” The videos attracted more than 100,000 views. What’s more, the Vue was a recurring character in the police blotter.
For the original version including any supplementary images or video, visit http://www.cnbc.com/id/101026256?doc=101026256|Sophomore%20blues:%20Big%20stud

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