"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."

Terrell Gates, Founder and CEO, is ultimately responsible for all strategic decisions. Mr. Gates is a third generation commercial real estate investor and developer, who began his career in the student housing industry in 1992. Since then, Mr. Gates has heldnumerous principal level positions in real estate, law and finance, including private equity, portfolio management, investment banking and lending. Prior to founding Virtus, Mr. Gates was Director of the GGS Private Banking group at Merrill Lynch. Since establishing Virtus in 2003, Mr. Gates has been ultimately responsible for the execution of the Virtus investment strategy, which has totaled over $3.2 billion in property acquisitions. An active philanthropist, Mr. Gates invests his time, treasure and talents in organizations, such as the Boys and Girls Club of the Austin Area, Mobile Loaves & Fishes, UMCOR and Central Texas Food Bank, to name a few. After receiving his B.A. in Economics and Spanish from The University of Texas at Austin, Mr. Gates earned a law degree from Southern Methodist University Law School and is a licensed attorney.

Russ Murphy is Co-Founder and Chief Operations Officer of Aspen Heights Partners. Since the company’s founding, Mr. Murphy has been committed to driving innovation and corporate culture that has resulted in the successful development, financing, and construction of over $1.7 billion worth of student housing and multifamily real estate in projects nationwide. Mr. Murphy has been in senior level positions for over fifteen years and has spent the past ten years focusing on real estate development, construction and acquisitions. His diverse background consists of Executive level positions as well as sitting on multiple boards. Russ has started as well as invested in multiple nonprofits, held consulting positions with small to mid-size companies. Russ has been involved in acquiring small businesses and invests in startups. He has spent time working with companies such as Tyson Foods, JB Hunt, Alternative Design Mfg. and Simmons Foods, Inc. His passion for our non-profit, Aspen Heights Awake, inspired him to take on the leadership of Chairman of the Board. Russ earned his B.S.B.A. in Management and Human Resource Management from the University of Arkansas in Fayetteville and is certified as a Professional in Human Resources.

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.

Lee brings more than 25 years of senior real estate investment experience, overseeing firm-wide strategy across acquisitions, dispositions, capital formation, and capital markets. As Co-Founder and Managing Partner of Vital Capital Partners, he also co-founded HPA Exchange (HPAXchange.com) alongside Thuy Turner, a joint-venture platform designed to deliver tax-advantaged 1031 investment solutions. Under his co-leadership, the firm has acquired over $400 million in assets since 2016, including more than $50 million in 1031 DST investments since 2024.

Previously, Lee founded and served as Principal of Silver Portal Capital, a boutique real estate investment banking firm focused on institutional capital placement, merchant banking, and strategic advisory services for private and public real estate companies. Prior to 2016, he advised on, placed, or invested more than $4 billion of real estate capital for institutional and private investors. During his tenure with HPA, Lee was a member of the GP executive team and played a key role in sourcing and executing more than $400 million in investment fund acquisitions, contributing to the full-cycle performance of the HPA Growth Fund.

Lee is also the Founder of SIG Equity Partners, through which he has acquired, repositioned, and redeveloped value-add and workforce housing communities across the Southeastern United States since 2004, with a long-term focus on infill multifamily assets.

Lee holds a BBA from Eastern Kentucky University and Pepperdine University’s Graziadio School of Business. He is a California-licensed Real Estate Broker and a Certified Commercial Investment Member (CCIM), and previously served as President of the Greater Southern California CCIM Chapter. He is Chairman Emeritus of the Graziadio Alumni Network, a board member of the Young Presidents’ Organization (YPO), and an Honorary Kentucky Colonel.

Lee is based in Orange County, California.

Stephanie McCleskey has been instrumental in developing—and maintaining—the foundation supporting the timely collection and dissemination of in-depth apartment market and student housing data. Her tenure at Axiometrics has generated a rigorous quality control method to ensure on-time reports and accurate data for Axiometrics clients.

McCleskey also organized and now oversees research and tracking processes for Axiometrics’ construction pipeline process, creating the methodology to update under-construction and lease-up properties on a monthly basis, thus ensuring clients have access to immediate and indispensable data for effective decision making purposes. Additionally, her efforts are focused on supervising, managing, motivating and training a crack staff of Axiometrics researchers.

McCleskey received her degree in real estate finance from Southern Methodist University’s Cox School of Business.

Brinkman spearheads ACC's the public-private partnership initiatives. He has participated in the award or development of approximately $4 billion of public-private partnerships across the country. One of his key responsibilities involves helping institutional leaders determine whether a partnership model is a viable alternative to develop purpose-built student housing and how institutions can leverage the private sector to deliver the types of housing that today’s student consumers demand. In his 21 years with ACC, Brinkman has served in a variety of capacities, including market analyst, director of development, and vice president of on-campus development. He is an active participant in numerous industry conferences, such as NACUBO, ACUHO-I, SCUP, AOA and NACAS. He graduated summa cum laude from Texas State University with B.B.A.s in marketing and finance.

Mr. Johnson has vast experience in government affairs, legislative strategy, government procurement and contracting, real estate development and the management of building design and construction. Johnson began his career in state government working through several legislative sessions for the Texas Speaker of the House, helping the Speaker and members of the Texas House and Senate from both political parties move significant legislation through the intricate legislative process.

Mr. Thompson is the Director of Acquisitions for Core Spaces, responsible for sourcing, analyzing, and closing investments across North America. In his 16+ years of experience in the student housing segment, Mr. Thompson has been involved in nearly $7.0 billion in education-related real estate transactions including the development and acquisition of nearly 110,000 student housing 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.

As Vice President of Development for Aspen Heights, Ryan Fetgatter oversees and manages all aspects of student housing and multifamily development, including market research and selection, site acquisition, entitlement, design, and preconstruction.  Since joining Aspen Heights in 2010, Ryan has led the development of 29 different projects which include 16,000+ student housing beds and 900+ multi-family units totaling over $1.5 billion in cost. Notable projects include RISE, The Independent, and Aspen West Campus, all high-rise residential towers in Austin, Texas. Prior to joining Aspen Heights, Ryan was with The Opus Group in Washington, DC, working on over 750,000 square feet of urban and suburban office development.  Ryan graduated from the University of Virginia in Charlottesville, Virginia in 2006.

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.

Talmadge Smith has overseen the design of Page’s largest Student Housing development projects including 2400 Nueces at the University of Texas at Austin and currently, the Student Housing for the 2020 Campus Expansion project at The University of California, Merced.

Talmadge and our Student Life team are nationally recognized as experts in the design of state-of-the-art facilities such as student recreation centers, student unions, dining halls and conference and event/venue facilities. Since 2002, our team has programmed, master planned and designed over 15,000 beds of student housing in residence hall living/learning communities. Our facilities have proven records of positively influencing students’ experiences through improved academic performance and relationships.

Stephen is responsible for client management, portfolio growth, and underwriting deals. He utilizes his skill set to assist our current and potential clients with all aspects of the investment and/or development process.

He has over 12 years of student housing experience focused on site selections, acquisitions and asset management. Prior to joining ACH, Stephen spent nine years in the student housing industry with two firms, Peak Campus Management and Place Properties, where he was responsible for all business development and acquisition activities.

Stephen earned his M.B.A. from Goizueta Business School at Emory University and his B.S. in Finance from Kennesaw State University. Stephen is a married father of three. He enjoys exercising, trading cars and he is always the first ACH team member on the dance floor.

Ryan Lang, vice chairman and head of Newmark Knight Frank’s Student Housing division, spearheads best-in-class investment sales, capital markets and advisory services on behalf of the firm’s clients. He has represented many of the largest global institutional, public and private real estate companies and has completed approximately $10 billion in real estate transactions.

Prior to joining Newmark Knight Frank, Ryan was vice president with CBRE’s National Student Housing Group, where he helped lead their team to number one market share position in the country. Before that, Ryan worked as director of multifamily investments for New Orleans-based Stirling Properties, where he specialized in the sale of conventional and student housing assets. While there, he was recognized as the top investment sales broker at Stirling Properties for both 2011 and 2012. Ryan began his real estate career in New York City at Marcus & Millichap, where he gained experience in seller representation, acquisitions and investment underwriting. During his first year there, his investment team was recognized as the number one top-earning team in the office. He was also awarded the Pace Setter award for 2008.

Ryan was named to the NKF Chairman’s Circle in recognition of being one of the top producing brokers in the entire company and he regularly speaks at acclaimed student housing events throughout North America and Europe. Ryan has been featured in the Wall Street Journal and on National Public Radio for his expertise and leadership within the sector. Ryan serves on the board of directors of the National Brain Tumor Society, the largest non-profit brain cancer organization in the world.

Professional Achievements

NKF Chairman’s Circle, 2017-Present

Top Five Producer, Newmark Knight Frank

Top Producer, Stirling Properties, 2011-2012

Connect Media Top Broker Award, 2019

Co-Star Power Broker Award

Pace Setter Award, Marcus & Millichap, 2008