MEMPHIS, Tenn.--(EON: Enhanced Online News)--EdR (NYSE:EDR), one of the nation’s largest developers, owners and managers of collegiate housing, announced today leasing results for the 2013-2014 academic school year.
“We are excited about the strong results we achieved this leasing season”
EdR’s same-community portfolio opened the 2013/2014 lease term 94.1% occupied compared to an opening occupancy of 91.1% in the prior year. In addition, same-community net rental rates increased 2.0% over the prior year.
“We are excited about the strong results we achieved this leasing season,” stated Christine Richards, senior vice president and chief operating officer. “With our high quality portfolio and the focus of our strong management team, we were able to deliver industry leading leasing results. These impressive results will support strong same-community NOI growth, which, when combined with the 16% increase in assets from the delivery of our 2013 developments, will produce very favorable year-over-year Core FFO growth for our shareholders.”
EdR will release property-specific leasing data in the Company’s third-quarter earnings release scheduled for October 28, 2013.
EdR (NYSE: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 70 communities in 24 states with more than 39,000 beds. For more information please visit the company's Web site at www.EdRtrust.com.
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