MEMPHIS, Tenn., Sept. 12, 2016 /PRNewswire/ -- EdR (NYSE:
EDR), one of the nation's largest developers, owners and managers
of high quality collegiate housing communities, today announced the
closing of the previously announced acquisitions of two communities
at Colorado State University and one at
the University of Arizona.
These acquisitions add a total of 505 beds at strong, growing
universities to the EdR portfolio.
"These communities fit the EdR portfolio perfectly," said
Randy Churchey, EdR chief executive
officer. "They appeal to students with a combination of location,
amenities and technology that are unmatched in these desirable
college communities that are experiencing tremendous growth."
Colorado
State
Pura Vida and
Carriage House, with a total of 194 beds, are new communities
adjacent to campus, where EdR has the opportunity to develop
additional beds. The amenities at each community include 24-hour
computer lab, indoor bike storage, full-sized washer and dryer in
the units and safety features that include cameras and electronic
locks. With their more intimate size, Pura
Vida and Carriage House cater to juniors and seniors who are
seeking more privacy.
Nestled in the Colorado Front Range, Fort Collins, Colo., was named as one of the
Top 10 college towns in America. CSU's
2015 enrollment was 32,236 and has been rising steadily over the
past four years. The 2015 freshman enrollment was a record for the
school and was nine percent larger than 2014. It offers bachelor's
degrees in 65 majors and post-graduate programs in more than 90
fields. Colorado State was recognized
by Forbes Magazine on its "America's Most Entrepreneurial
Universities" lists in 2014.
University of Arizona
The
Urbane, a 311-bed community, which opened last month, will be one
of the most highly amenitized communities in the EdR portfolio.
Amenities include large rooftop deck with pool, cabanas and an
oversized hot tub; indoor and outdoor lounges, study areas and
bed-bath parity with tiered amenity options in floor plans ranging
from studios to five bedrooms.
The University of Arizona has an
enrollment of more than 40,000 students, which has been growing
steadily over the course of the last decade, on the Tucson, Ariz., campus. It is classified as a
Carnegie Foundation very high research activity university.
Arizona is a leader in space
exploration research with its Lunar and Planetary Laboratory
contributing to numerous NASA missions.
About EdR
EdR (NYSE:EDR) is one of America's largest
owners, developers and managers of collegiate housing. EdR is a
self-administered and self-managed real estate investment trust
that owns or manages 86 communities with more than 44,000 beds
serving 53 universities in 24 states. EdR is a member of the
Russell 2000 Index, the S&P MidCap 400 and the Morgan Stanley
REIT indices. For details, please visit the company's Web site at
www.EdRtrust.com.
For more information, contact:
J. Drew Koester, Senior Vice
President, Capital Markets and Investor Relations
901-259-2523 dkoester@EdRtrust.com
For media information or photography, contact:
Craig Wack, PR
Coordinator
901-252-6809 cwack@EdRtrust.com
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
Statements about the company's business
that are not historical facts are "forward-looking statements."
Forward-looking statements are based on current expectations. You
should not rely on our forward-looking statements because the
matters they describe are subject to known and unknown risks and
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results, performance, or achievements expressed or implied by such
statements. Such risks are set forth under the captions "Item 1A.
Risk Factors" and "Forward-Looking Statements" in our annual report
on Form 10-K and under the caption "Item 2. Management's Discussion
and Analysis of Financial Condition and Results of Operations" (or
similar captions) in our quarterly reports on Form 10-Q, and as
described in our other filings with the Securities and Exchange
Commission. Forward-looking statements speak only as of the dates
on which they are made, and the company undertakes no obligation to
update publicly or revise any guidance or other forward-looking
statement, whether as a result of new information, future
developments, or otherwise, unless required by law.
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SOURCE EdR