MEMPHIS, Tenn., July 6, 2009 (GLOBE NEWSWIRE) -- Education Realty Trust, Inc. (NYSE:EDR), a leader in the ownership, management and development of student housing today announced it latest leasing results for the upcoming 2009 fall lease term.
2009 Leasing
As of June 29, 2009, leasing for the combined wholly-owned portfolio on a same community basis reflected approximately 82% of beds applied for and 75% leased compared to 79% and 74%, respectively, at this time last year. Leasing on a same community -- legacy portfolio basis reflected approximately 84% of beds applied for and 78% leased compared to 84% and 79%, respectively, at this time last year. Regarding the former Place portfolio, approximately 75% of the beds have been applied for and 66% have been leased compared to 63% and 58%, respectively, at this time last year. An application is defined as a signed student lease except for the receipt of an executed parental guarantee or completion of background verification.
The Company has included a detailed, property by property status report on fall leasing for the same-community group, including EDR's legacy and former Place portfolio.
The chart accompanying this release is available at http://media.primezone.com/cache/9749/file/7071.pdf
About Education Realty Trust
Education Realty Trust (NYSE:EDR) is a self-administered, self-managed real estate investment trust that owns, develops and manages high-quality student housing communities throughout the United States. Led by a team with over 200 years of shared industry experience, EDR is one of America's largest owners and operators of collegiate student housing. Its portfolio includes 63 communities in 21 states with 37,152 owned and managed beds. For more information please visit the Company's website at www.educationrealty.com.
Safe Harbor Statement
Statements about EDR's business that are not historical facts are "forward-looking statements." Forward-looking statements are based on current expectations. You should not rely on EDR's forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause EDR'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" and under the caption "Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations" (or similar captions) in EDR's annual report on Form 10-K and quarterly reports on Form 10-Q, and as described in its other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the date on which they are made, and EDR undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.