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Education Realty Trust, Inc.
Education Realty Trust Awarded Third Party Development Contract
MEMPHIS, Tenn., Oct. 31, 2008 (GLOBE NEWSWIRE) -- Education Realty Trust, Inc. (NYSE:EDR), a nationwide leader in the ownership, development and management of student housing, today announced that its third-party development services subsidiary, Allen & O'Hara Development Company, LLC. ("AODC"), has been selected as the development team to partner with East Stroudsburg University of Pennsylvania in the creation of a new student housing community. The $38.8 million on-campus facility will consist of a 626 bed residence-hall and a 256 bed upper class apartment complex. The residence hall will contain suites with single and double rooms, classroom space and study rooms, while the apartments will include private bedrooms, living rooms and full kitchens. The project may be multi-phased, but the initial phase will generate approximately $1.6 million in fee revenue.