EdR Opens Pedestrian to Campus Community at Michigan State University
MEMPHIS, Tenn., Aug. 9, 2017 /PRNewswire/ -- EdR (NYSE: EDR), one of the nation's largest developers, owners and managers of high quality collegiate housing communities, today announced the opening of SkyVue, a new pedestrian-to-campus community serving Michigan State University (MSU) and downtown Lansing, Mich. In 2017, EdR will deliver nearly $300 million in assets to its owned portfolio and nearly $100 million in third-party developments.
"We anticipate with its location pedestrian to both the MSU campus and downtown Lansing, SkyVue will become a popular center that will bridge both communities," said Randy Churchey, EdR's CEO.
The 824-bed wrap-style, mixed-use community, built in a joint venture with RISE: A Real Estate Company, offers floor plans in one-, two- and four-bedroom configurations with more than 4,000 square feet of retail space.
"The grand opening of SkyVue serves not only as a milestone for our companies and our partnership, but more importantly as the mark of a mission accomplished in positively impacting the Lansing community," said Ryan Holmes, CEO of RISE: A Real Estate Company.
EdR owns 90 percent of the development and is responsible for leasing and management of the community. Apartments feature private bedrooms and baths, washers and dryers, furnishings, granite countertops and other upscale appointments. Community amenities include a covered parking garage, computer center, study room, fitness center, and two courtyards with grilling stations, televisions, volleyball court and robust internet and Wi-Fi throughout the building.
Michigan State University has an enrollment of more than 50,000 students, offers degree programs in more than 200 academic pursuits and ranks 45th among the nation's public universities, according to U.S. News & World Report.
About EdR
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 83 communities with more than 44,000 beds serving 52 universities in 25 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
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SOURCE EdR
