EDR also manages student housing communities
for college and
university systems across the country.
The properties are all less than three
years in age and of a high asset
quality, consistent with the Company's student housing portfolio
characteristics.
The Company has commenced initial groundwork at the site, and expects
actual
construction to begin in August with completion targeted for August
2006, concurrent with the beginning
of the 2006-2007 academic year.
studying finders
The portfolio, consisting of
an aggregate of 1,712 beds/444 units
, will be acquired for an approximate
purchase price of $48.2 million of
new debt with respect
to one of the properties., GMH Communities
Trust (NYSE: GCT) through its student housing division
, College Park
Communities, has completed the purchase of a 61-acre land parcel located at
the
entrance of the University of Maine campus in Orono, Maine.
rented backpackers
For a discussion of such risks
and uncertainties, which
could cause actual results to differ from those contained in the
forward
-looking statements, see the "Risk Factors" section of EDR's
final prospectus for its initial public
offering.gmhcommunities.backpackers roommate
(NYSE: EDR) today announced it has acquired Campus Creek
Apartments in Oxford
, Mississippi, home of the University of
Mississippi, on an all-cash basis at a net purchase price
of $24
million.2 million. The debt carries an interest rate of
4. The
Company is based in Newtown
Square, PA and employs more than 1,200 people
throughout the United States.rented roommate
92%. The property is currently
owned by the Dinerstein Group of Houston, which was the developer.
Sterling University Riverside
offers amenities including a free
shuttle bus to campus, a sand volleyball court, a basketball court
, a
fitness center, a pool with sundeck, and hot tub.
military
residing at installations
throughout the country.
Joseph M. These forward-looking statements are subject to risks and
uncertainties, including the ability to finalize terms with construction and
development partners
on terms acceptable to the Company and to manage project
timing and costs, as well as the risk factors
discussed in the Company's
periodic reports as filed with the Securities and Exchange Commission
.landlords rented
Its other property in
the state, The Reserve at Clemson, is located near Clemson University. Forward
-looking
statements speak only as of the date on which they are made, and EDR
undertakes no obligation
to update publicly or revise any
forward-looking statement, whether as a result of new information
,
future developments, or otherwise."
GMH Communities Trust (http://www. Coyle, President
of the Company's student housing division
commented, "Orchard Trails Apartments provides us with
a terrific opportunity
to develop a first-class student housing community that will retain and
preserve
the natural beauty of the land.backpackers hassle
75 acre site., GMH Communities
Trust (NYSE: GCT) announced today
that it is finalizing due diligence on a
portfolio of three Class A student housing properties currently
under
contract, located near the campuses of University of Nebraska, West Virginia
University
and Bowling Green State University. The
Company is in the process of finalizing discussions with
an institutional
joint venture partner to assist in financing the development of the project. The
Company is based in Newtown
Square, PA and employs more than 1,400 people throughout the United States
.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements
in this press release that express the current beliefs and
expectations of our management are "forward
-looking statements," such as the
anticipated timing and terms of the development plans for the Orchard
Trails
Housing project, including plans to enter into a joint venture development
arrangement
.apartment hassle
Sterling University Riverside will provide EDR with properties at
both of South Carolina's premier
universities. EDR will elect to be taxed as a real estate investment trust. We are excited about this
transaction which will enable us to acquire
three high-quality student apartment communities in targeted
higher education
markets while offering significant upside potential. The land parcel, acquired
for a purchase price of
approximately $1. With solid demographics, limited
competition within
the market and strong student enrollments at the University
of Maine, this has all the attributes
of a successful project.roomates apartment
Built in 2002, it is located 2.
Campus Creek is EDR's first property in
Mississippi.falmouth spacious
7 million and assumption of
existing debt of $11. The property
is located one mile
from the University of Mississippi (Ole Miss)
campus, and is situated on an 18.GMH Communities Trust
Announces Development Parcel Acquisition Located Near University of Maine
townhomes falmouth
NEWTOWN
SQUARE, Pa.0 million, has received final zoning and development and
construction approvals by the
City of Orono and the State of Maine. We are a self-advised,
self-managed, specialty housing company
focused on providing housing to
college and university students residing off-campus and to members
of the U.proposed vremco
"The acquisition of Campus Creek is consistent with our philosophy
of acquiring quality
assets in close proximity to vital and growing
universities.7 million.5 million of existing fixed
rate mortgage debt with respect
to two of the properties, and the placement of approximately $9.
The transaction is expected
to close by late February 2005, subject to customary closing conditions
,
including completion of the lender's agreement to the assumption of the
existing debt and the
successful placement of the new debt.
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act
of 1995: Statements in this press release regarding GMH Communities Trust's
business which are not historical facts are "forward-looking statements,"
including statements
regarding the anticipated closing date for the portfolio,
the aggregate purchase price of the portfolio
, the satisfaction of customary
closing conditions, including the receipt of lender approval on the
assumption
of existing debt and the placement of new debt, as well as management's view
that the
portfolio offers significant upside potential.capstone student
Business Editors
MEMPHIS, Tenn. EDR
expects
to close on this acquisition around March 15, 2005. Student amenities
featured at Campus Creek include
a fitness center, tanning domes, a
pool plaza with water volleyball, and a computer center. Enrollment
at Ole Miss has grown 26% over the past 10
years, and is projected to continue to grow," said Paul
O. NEWTOWN SQUARE, Pa. These
risks and uncertainties could cause our future results, performance
or
achievements to differ significantly from the results, performance or
achievements expressed
or otherwise implied by such forward-looking
statements.landlord capstone
S. GMH Communities also provides property
management services to
third party owners of student housing properties, including colleges,
universities
, and other private owners.vremco townhomes
Bower, EDR
chairman, chief executive officer, and president. GMH Communities
also
provides property management services to third party owners of student
housing, including
colleges, universities, and other private owners.apartment roommates
com) is a publicly traded
Maryland real estate investment
trust (REIT).
Construction of the complex will include 12 three-story residence buildings
and
a one-story clubhouse that will feature a fitness center, game room, DVD
theater, tanning booth,
computer lounge and leasing offices.
military and their families residing on or near installations
throughout the
United States.landlords apartment
Education Realty Trust Acquires Student Apartments Near Ole Miss Campus;
Signs Purchase Agreement for South Carolina Property
The Company
also announced plans to develop
a 144-unit/576-bed purpose-built student
housing community on the site that will be named College
Park -- Orchard
Trails Apartments. Student-oriented
recreational amenities will include individual
bedroom leases, fully furnished
units, high-speed Internet access in each bedroom, and sports courts
.housing apartment
"
About Education Realty Trust
Education Realty Trust owns, manages, and develops student
housing
communities located near university campuses throughout the United
States.
"Safe Harbor
" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release
regarding
Education Realty Trust's business that are not historical facts are
"forward-looking
statements. These forward-looking
statements are subject to risks and uncertainties, including the
Company's
ability to complete the acquisition of the portfolio within the anticipated
timeframe
or at all or for the anticipated purchase price, to obtain lender's
approval of its assumption of
existing debt or successfully negotiate the
placement of new debt on terms acceptable to the Company
or at all, and to
achieve anticipated returns on the properties in line with management's
estimates
."
GMH Communities Trust (http://www. Forward-looking statements speak only as of the date
on which they
are made, and the Company undertakes no obligation to update publicly or
revise
any of the forward-looking statements.antwerp landlord
gmhcommunities. It is a self-advised, self-
managed specialty
housing company focused on providing housing to college and
university students residing off-campus
and to members of the U.
capstone sublet
The Sterling University Riverside property includes 144
apartments and
480 beds. The purchase includes the assumption of
approximately $26. A
50-acre open green space
with hiking trails connected to the Orono Land Trust
trail network is planned for the project.com
) is a publicly traded
Maryland real estate investment trust (REIT).apartment townhomes
The Company also announced
it has signed an agreement to purchase
Sterling University Riverside apartments, serving the University
of
South Carolina in Columbia, for $13. Additionally, all of the properties have the advantage of
being in close proximity to each of the university's campus and offer resort-
style amenities
such as fitness centers, computer labs, swimming pools,
tanning beds and furnished units.falmouth comfortable
The property
is 92% leased for the current academic year." Forward-looking statements are based on
current
expectations and involve a number of known and unknown risks
and uncertainties that could cause EDR
's future results, performance,
or achievements to differ significantly from the results, performance
,
or achievements expressed or implied by such forward-looking
statements.apartment backpackers
5 miles from
the University
of South Carolina campus.GMH Communities Trust To Acquire Three Student Housing Properties in Nebraska
West Virginia and Ohio
College Park Management, LLC, the student
housing division of GMH Communities
Trust that operates and manages on and off
campus student housing communities in 36 major college
/university markets,
would manage the properties upon completion of the acquisition.S.Find in this
category international web sites with listings for apartment rentals proposed by individuals or real
estate agencies; including roommate finders.
apartment roomates
----Education Realty
Trust, Inc. Opened in 2004, Campus
Creek includes six three-story
apartment buildings containing 192 units and 636 beds. The property
was purchased from Foundation Development, an affiliate of PRS
Companies based in Roswell, Georgia
.townhomes backpackers
The property is 92%
leased for the current academic year. "Sterling University
Riverside is also
a solid fit for our portfolio of modern, well-built,
highly-amenitized properties, and we are in
the process of evaluating
many other similar opportunities in markets across the country.
Joseph M. Coyle, President of Company's student housing division, said,
"We continue to diligently
execute our strategic plan as outlined during our
IPO.townhomes hassle
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