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VOL. 126 | NO. 37 | Wednesday, February 23, 2011

Education Realty Trust Announces Three Projects

The Daily News

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Memphis-based Education Realty Trust, one of the nation’s largest developers, owners and managers of college housing, has announced three projects across the U.S.

First, ERT executed a 60-year ground lease with the Board of Regents of the University of Texas System for a new collegiate apartment community near the University of Texas at Austin campus. Construction is expected to begin this summer for a summer 2013 opening.

The company also has been selected by Syracuse University to develop, own and manage new collegiate housing on its campus. ERT is currently working to receive the necessary local government approvals. The company anticipates breaking ground this summer for a summer 2012 completion.

Most recently, ERT reported it has executed agreements with the Edwards Cos. to develop, own and manage new collegiate housing at the University of Alabama in Tuscaloosa. That project will include 337 units with 774 beds in studios and one-, two-, three- and four-bedroom apartments. The Edwards Cos. is developing and constructing the housing, which will be owned jointly by the two companies. Education Realty Trust is the majority owner and managing member of the joint venture and will manage the community.

ERT, whose offices are at 530 Oak Court Drive, suite 300, is slated to release its fourth quarter 2010 financial results after the market closes Thursday.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 95 460 14,043
MORTGAGES 101 520 16,304
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 198 1,098 29,161
BANKRUPTCIES 48 285 9,323
BUSINESS LICENSES 26 123 4,603
UTILITY CONNECTIONS 45 277 10,236
MARRIAGE LICENSES 18 96 3,352

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