EdR Celebrates Grand Opening of On-Campus Housing at Boise State University

MEMPHIS, Tenn., Oct. 24, 2017 /PRNewswire/ -- EdR EDR, one of the nation's largest developers, owners and managers of high quality collegiate housing communities, celebrated the grand opening of Honors College and Sawtooth Hall, a new residence hall on the campus of Boise State University which opened in August. In 2017, EdR will add nearly $300 million in assets to its owned portfolio and deliver nearly $100 million in third-party developments.

EdR is leasing the land from the university and owns the 656-bed community through its ONE Plan^SM program.  The five-story, 236,000 square foot building is centrally located on campus directly across from the Student Union. Designed with both the growing number of honors students and first-year students in mind, the dedicated Honors living-learning center and first-year housing community features 235 two- and four-person private and semi-private suite-style units. A number of apartment-style units are also included to provide alternatives for upper-division students in the Honors College. The building includes classrooms, study lounges, Honors offices and dining facilities along with robust internet capabilities and Wi-Fi access to accommodate the Honors College which has seen its number of applicants grow from 350 applicants to 750 applicants in the last year alone.

"The new building helped drive that explosive growth, and it provides a first-rate facility to take our program to another level of distinction," said Boise State Honors College Dean Andrew Finstuen. "Students already report a great experience in the new building, commenting on its central location, excellent classroom space, stunning views and modern style, and newly opened dining facility."

EdR has financed the Honors College and Sawtooth Hall through its On Campus Equity Plan — The ONE Plan^SM — which uses the company's equity and financial stability to fund projects on university land. This program gives the university access to a single trusted partner and helps create substantial long-term financial benefits for Boise State and EdR. By using EdR's equity for the housing revitalization, Boise State remains able to focus its financial and organizational resources on other projects and campus enhancements.

"We look forward to a long and productive partnership with Boise State," said Randy Churchey, EdR's CEO. "The commitment and forethought of the administration here at Boise State to modernize student housing and the on-campus living experience, through the Honors College and Sawtooth Hall, demonstrates the dedication they have to student success."

About EdR

EdR 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 46,200 beds serving 54 universities in 26 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   dkoester@EdRtrust.com

For media information or photography, contact:  
Craig Wack, PR Coordinator
901-252-6809   cwack@EdRtrust.com

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.

View original content with multimedia:http://www.prnewswire.com/news-releases/edr-celebrates-grand-opening-of-on-campus-housing-at-boise-state-university-300542561.html

SOURCE EdR