MEMPHIS, Tenn., Nov. 9, 2009 (GLOBE NEWSWIRE) -- Education Realty Trust, Inc., (NYSE:EDR) today announced it retired $98 million of secured first mortgage debt that was due to mature on December 6, 2009. The debt was secured by nine properties acquired as part of the 2006 Place portfolio transaction and was retired by utilizing approximately $76 million of existing cash and by drawing on its corporate credit facility.
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 64 communities in 22 states with 37,827 owned and managed beds. For more information please visit the Company's website at www.educationrealty.com.