EdR and Boise State University Finalize Agreements for On-campus Housing Development

Living-Learning Communities Financed through EdR’s ONE PlanSM

MEMPHIS, Tenn.--()--EdR (NYSE:EDR), a national leader in the ownership, development and management of collegiate housing, today announced the completion of agreements with Boise State University for the company’s development, construction and management of Honors College and freshman housing on the Boise State campus.

“We are excited to partner with Boise State leadership to create unique living-learning accommodations which will complement this dynamic campus.”

EdR will complete the $39.7 million housing development through its On-Campus Equity Plan — The ONE PlanSM — 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.

Construction will begin in 2015 toward a July 2017 completion date. This on-campus development will include a four-story building with a 305-bed Honors College and 351 additional beds devoted to a freshman living-learning community. Situated in the heart of campus adjacent to the Student Union Building and the Recreation Center, it will also include a dining component.

Upon completion, EdR will own the residence hall under a 50-year ground lease with Boise State and will manage the facility while Boise State will provide residence life services.

“Our new Honors College home reflects the commitment Boise State is making to the highest academic quality and will accommodate the fast-growing number of academically accomplished and talented students in the college,” said Boise State President Bob Kustra.

Boise State’s enrollment has trended upward 30 percent since 2002. The largest public institution of higher education in Idaho, Boise State’s current enrollment is more than 22,000 undergraduate, masters and doctoral students.

EdR was chosen in November 2014 by Boise State through a competitive selection process to execute all the aspects of this development — design, construction, finance and management. The project’s design team will be led by LCA Architects of Boise, Idaho, and includes Ayers Saint Gross of Phoenix, AZ. Rimrock Construction of Draper, UT was selected as general contractor.

"The ongoing transformation at Boise State University is impressive,” said Tom Trubiana, EdR president. “We are excited to partner with Boise State leadership to create unique living-learning accommodations which will complement this dynamic campus.”

About EdR

One of America's largest owners, developers and managers of collegiate housing, EdR (NYSE:EDR) is a self-administered and self-managed real estate investment trust that owns or manages 81 communities with more than 42,000 beds serving 52 universities in 23 states. EdR is a member of the Russell 2000 Index and the Morgan Stanley REIT indices. For details, please visit the Company's Web site at www.EdRtrust.com.

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Contacts

For more information, contact:
Bill Brewer, 901-259-2500
Executive Vice President and Chief Financial Officer
bbrewer@EdRtrust.com
or
J Drew Koester, 901-259-2523
Senior Vice President, Capital Markets and Investor Relations
dkoester@EdRtrust.com
or
For media information or photography, contact:
Susan Jennings, 901-259-2506
Vice President, Corporate Communication and Marketing
sjennings@EdRtrust.com

EdR