Education Realty Trust Announces Common Stock Offering of 12.5M Shares

Education Realty Trust, Inc. (NYSE: EDR) today announced that it plans to sell 12,500,000 shares of its common stock in an underwritten public offering. The Company also plans to grant the underwriters a 30-day option to purchase up to 1,875,000 additional shares of common stock to cover overallotments, if any. BofA Merrill Lynch is serving as book-running manager for the offering.

The Company intends to use the net proceeds from the offering to repay debt, fund its development pipeline, fund future acquisitions and for general corporate purposes.