Texas Student Housing

Dr. Troy Behrens has 18 years of career development experience in both higher education and private industry. With a Doctorate in Higher Education Management from UCLA and a Masters Degree in Counseling Psychology from the University of Arizona, he is a Nationally Certified Counselor (NCC), a Certified Career Counselor (NCCC), and a Licensed Professional Counselor in the State of Illinois. After serving as a career counselor with the University of Arizona’s Career Center, Troy became the Director of Career Services for Roosevelt University in Chicago. Currently, he is Executive Director of Career Services for SMU, in Dallas.

Page Senior Principal Lawrence W. Speck, FAIA, has worked on many of Austin’s landmark projects, open spaces and central Austin master planning efforts including Austin-Bergstrom International Airport Barbara Jordan Terminal and the recent Terminal East Infill; Austin Convention Center; Town Lake Comprehensive Plan; 2nd Street District; UT Austin Master Plan; UT Dell Medical School Master Plan and Texas Facilities Commission Capitol Complex Master Plan. Speck’s work on the UT Dell Medical School Innovation Zone dates back to 2013 when the district was conceived. His firm has continuing involvement with the Medical School Master Plan and four buildings in that complex. Speck’s far-reaching healthcare design experience has put him at the forefront of changing dynamics and emphasis on patience-centric philosophies and innovation shaping the field. Within the last 10 years alone, Speck’s work has been recognized with over 75 design awards, and his thoughts on architecture and urban planning have been published throughout the world.

Greg Henry serves as the Chief Executive Officer and is on the Board of Directors for Aspen Heights, a national fully integrated real estate development company headquartered in Austin, TX. The company is devoted to integrating profit and purpose, activating human potential, and animating creativity to contribute value to the world. Aspen Heights has developed more than $1 billion in real estate projects from 2006 to 2014 and continues to grow under his leadership.

"As chief executive officer, Bill provides the guiding vision for the organization while providing strategic input and supporting the team in their execution of the company’s business plan. Known for his contagious enthusiasm and true passion for creating environments conducive for student success, he is widely recognized as the nation’s foremost expert on the student housing business. Over his 30 year career, he has been involved in the development and acquisition of more than $12 billion of student housing assets. The son and grandson of steelworkers, Bill was born and raised in the northern panhandle of West Virginia and first forged his vision of what would someday become American Campus Communities while he was still a student at WVU working as a dishwasher, grill cook, night desk attendant, and as a resident assistant at Summit Hall. He saw students and parents as under-served consumers, worthy of better products and services. He saw the need and the opportunity to provide modern, high quality, well-amenitized student communities that could foster an environment conducive to academic success. Bill spent the first six years of his career with traditional real estate companies that were intrigued by student housing as a side business. In 1993, with less than $3,000 in the bank, the 29-year-old moved his wife and two small children to Austin, Texas where he co-founded American Campus Communities with Wayne Senecal and Joseph Domberger. The fledging company, with only one third-party student housing management contract, established an ambitious mission statement: “To be the nation’s premier provider of quality student housing communities and services through a unique understanding of, and an unrelenting commitment to, students, parents and educational institutions.” From 1993 to 2003, Bill worked to establish the company as the nation’s premier third-party developer and manager of on campus student housing, pioneering large development transactions with the SUNY System, the University of California System and the Texas A&M University System. In 1997, he secured venture capital from a fund controlled by Reckson Associates to buy out his original partners and to fund the company’s expansion from a third-party service provider to an owner of student housing communities. In 2004, after building the company to more than $300 million in owned assets, Bill led the student housing industry to a new plateau when American Campus successfully consummated its IPO on the New York Stock Exchange, becoming the first publicly-traded student housing company in the nation and introducing the sector to Wall Street and institutional investors. Under his executive leadership, American Campus has been one of the top performing publicly traded real estate companies in America. In the twelve years since going public, the company has averaged a compounded annual growth rate in net operating income in excess of 26 percent. In addition, the company’s same store portfolio has achieved average fall occupancy of 97.7 percent and has produced positive same store growth in rental rate, rental revenue and net operating income each and every year, even during the great recession. From the IPO to June 30, 2017, ACC stock has delivered a total shareholder return of more than 370 percent, outperforming the Morgan Stanley REIT Index, the S&P 500, the Dow Jones and the Nasdaq; with the company having grown to total enterprise value of nearly $9 billion. Beyond the company’s operational success and financial performance, under Bill’s purview, American Campus has been widely recognized as the sector’s “Best in Class” company. In 2011, ACC achieved an investment grade rating from both Moody’s and Standard and Poor’s. The company received national accolades in 2013 when it was named “Development Firm of the Year” by the National Association of Home Builders and also named by Forbes as one of “America’s 100 Most Trustworthy Companies.” ACC has also been voted as one of the best companies to work for in its home state of Texas on three separate occasions. In addition, American Campus developments have won more than three dozen national and regional real estate awards. Bill’s vision, passion, and tenacious determination have not only fueled the success and prominence of American Campus, but have also served as a catalyst for the entire student housing industry becoming a well-respected asset class within the commercial real estate sector, resulting in students and parents across the nation now having a wide variety of modern, high quality, professionally managed, affordable student housing options from which to choose. In 2007, Bill was the Regional Winner of the coveted Ernst and Young Entrepreneur of the Year award, and was subsequently named as a National Finalist. In 2015, he was featured by Commercial Property Executive as one of commercial real estate’s Most Innovative Executives. In 2017, he was named the Ernst & Young Entrepreneur of the Year in the category of real estate, construction and lodging. He has also been featured in prominent publications, such as The Wall Street Journal, Forbes, and The New York Times; has made numerous appearances on CNBC; and has been featured on ABC’s Nightline. He is frequently invited to speak nationally and at business schools regarding American Campus’ success and his personal success as an entrepreneur. He has been recognized by his alma mater, West Virginia University, where he was added to the College of Business & Economics Roll of Distinguished Alumni and has been inducted into the WVU Academy of Distinguished Alumni. Bill is also a member of Mensa International. On the charitable front, Bill serves as the Chairman and was instrumental in the formation of American Campus Charities Foundation, which supports charitable activities focused on disadvantaged youth and education in ACC’s hometown of Austin, Texas, as well as in the local markets served by ACC’s communities. The Foundation has raised in excess of $1 million for the causes consistent with its focus. Bill also currently serves on the Board for the Rise School of Austin, which provides high quality early childhood education for gifted, traditional and developmentally delayed children in an inclusive setting, using individualized learning techniques."

Michael is charged with the execution of Investment Services for Campus Advantage. This entails the evaluation and analysis of potential investments – both real estate and corporate investments. Mr. Orsak supervises the processes of investment and acquisition, from consideration and evaluation, through underwriting, contract negotiations, and due diligence, to closing, including securing debt and equity. Additionally, Michael works with Campus Advantage’s Development Services division to evaluate potential development opportunities and oversees securing debt and equity on these transactions as well. Michael has been active in real estate for 15 years with versatile experience in student housing development, acquisition, and asset management. Prior to joining Campus Advantage, Michael held the role of Assistant Vice President for GMH Communities Trust, acquiring properties for College Park Communities in its student housing division. Prior to GMH, he held the Director of Investment position at American Campus Communities. He has participated in evaluating over $10 billion in potential investments and closed on over $1.8 billion, encompassing over 45,000 beds.

Kevin White, Acquisitions Director – Alternative Multifamily, is responsible for the firm’s multifamily investing efforts including student housing and workforce housing. He is responsible for developing investment strategy, sourcing joint venture partners and investment opportunities, and overseeing all aspects of underwriting, due diligence, investment structuring, closing and disposition. Since joining Virtus in 2011, Kevin has acquired more than $860 million of projects. He holds a B.B.A. in Finance from the Ohio State University and an MBA from the University of Texas at Austin. Prior to joining Virtus, Kevin was the Director of Acquisitions for a privately held real estate investment company. He was responsible for leading an acquisitions team that successfully closed $150 million of commercial real estate in 2 years. He has experience with numerous property types in sourcing, underwriting, due diligence, lender management, closing process, asset management and dispositions. Kevin is the President and one of the founding members of Club Blue of the Austin Area, which is a non-profit that supports the Boys and Girls Club of the Austin Area.