New Third Party Management Contract for Place Properties - University Edge

 ATLANTA, Aug. 18 /PRNewswire/ -- Place Properties announces today that it has been retained as the property manager for University Edge in Johnson City, Tennessee to serve the students of East Tennessee State University. The project consists of 624 beds and 192 units, and is currently under construction with a July 2011 delivery date.

Bob Clark, Executive Vice President Finance, Acquisitions and Operations said, "This property is a wonderfully located class A student housing development and we are thrilled to add it to our management portfolio.  We remain focused on expanding our portfolio through the addition of management contracts, property acquisitions, and development projects."

University Edge's apartment mix consists of 2 bed/2 bath, 3 bed/3 bath, and 4 bed/4 bath units.  Community amenities include a game room, computer lab, fitness center, tanning bed, and theater.  Outside residents will enjoy a resort-style swimming pool and exercise trail. 

Place Properties, an affiliated group of companies, is one of the country's largest multifamily development and management organizations in the country.  Since 1995, Place Properties has developed more than $1.4 billion of student and military housing communities and currently manages more than 21,000 beds.

SOURCE Place Properties

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