Education Realty Trust, Inc
), a real estate investment trust (REIT), recently closed
financing of $53.6 million for the construction of a third-party
student housing development on the Mansfield University campus in
This is the second phase of the project and will consist of two
buildings with 684 beds in 322 fully furnished suite-style units.
Building techniques have used modular construction and will feature
a multi-purpose room, conference room and various other
state-of-the-art amenities. Education Realty recently completed
Phase I of the project, featuring a 634-bed building that is fully
leased for fall 2013.
With this deal, the company has strengthened its relationship
with Mansfield University. The development further reinforces
Education Realty's policy of investment in the high-growth
collegiate housing industry as it focuses on premium quality
student housing facilities.
Education Realty is one of the largest owners, developers and
managers of collegiate housing in the U.S. It also provides
third-party management services, including residence life and
student development, marketing, leasing administration, strategic
relationships and accounting services for student housing
communities owned by educational institutions.
The company owns or manages 65 communities in 24 states with
more than 36,300 beds in over 12,000 units.The ideal acquisition
targets of the company are generally located in markets that have
stable or increasing collegiate populations and high barriers to
Education Realty currently retains a Zacks #3 Rank, which
translates into a short-term Hold rating. We also have a long-term
Neutral recommendation on the stock. One of its competitors,
American Campus Communities, Inc
) also holds a Zacks #3 Rank.
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