EdR Acquires Pedestrian to Campus Community at Oregon State University
MEMPHIS, Tenn., Jan. 11, 2017 /PRNewswire/ -- EdR (NYSE: EDR), one of the nation's largest developers, owners and managers of high quality collegiate housing communities, today announced it acquired The Retreat at Corvallis, serving Oregon State University in Corvallis, Ore.
Built in 2015, The Retreat at Corvallis includes 1,016 beds pedestrian to the Oregon State campus in a mix of one-, two-, three-, four- and five-bedroom floor plans in both traditional apartment configurations (60 percent) and cottages (40 percent).
"With 95 percent occupancy this year and a location pedestrian to campus, this community is a great complement to our top of class student housing portfolio," said Tom Trubiana, EdR president. "When paired with our development at Boise State, this community significantly increases our footprint in the Northwest."
Oregon State is just one of two universities in the country to hold land-grant, sea-grant, space-grant and sun-grant status. With a Fall 2016 enrollment of 30,354 students, the university has added more than 6,500 students to its rolls since 2010. The university has nationally recognized programs in Environmental Science and Engineering as well as Forestry and Agricultural Sciences.
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 87 communities with more than 45,400 beds serving 54 universities in 25 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 [email protected]
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Craig Wack, PR Coordinator
901-252-6809 [email protected]
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 uncertainties that could cause the company's future results, performance, or achievements to differ significantly from the 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.
SOURCE EdR
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