EdR Celebrates Opening of Third-Party Development at East Stroudsburg University


MEMPHIS, Tenn., Aug. 22, 2017 — EdR (NYSE: EDR), one of the nation’s largest developers, owners and managers of high quality collegiate housing communities, today announced the completion and opening of Sycamore Suites, a new residence hall on the campus of East Stroudsburg University of Pennsylvania in East Stroudsburg, Pa. In 2017, EdR will add nearly $300 million in assets to its owned portfolio and deliver nearly $100 million in third-party developments.

Sycamore Suites is the final phase in a multi-phased development project led by EdR that has revitalized student housing at East Stroudsburg University. The first phase of the revitalized on-campus housing, Hawthorn and Hemlock Suites, was completed in 2012.  

“The opening of Sycamore Suites clearly demonstrates East Stroudsburg University’s commitment to putting the needs of our students first,” said ESU president Marcia G. Welsh, Ph.D. “This new facility symbolizes our ability to look toward the future of our University with optimism and pride in all we do.”

The project represents EdR’s focus on long-term university partnerships, as well as building high-quality on-campus housing. The 496-bed community features a mix of two- and four-person suite configurations with built-in closets and carpet. Every unit is air conditioned, has a semi-private bath and kitchenette. Public spaces include computer labs, study rooms, a large lounge with fireplace, laundry facilities, robust internet and Wi-Fi throughout the building and three full kitchens available for student use.

“Modern, high-quality student housing is an important foundation to student success and retention,” said EdR President Tom Trubiana. “Accommodations like Sycamore Suites enrich the college experience in a number of ways. Working with universities to achieve their housing goals is an important part of EdR’s legacy and we hope the students of East Stroudsburg enjoy everything this new housing has to offer.”

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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Statements about the company’s business that are not historical facts are “forward-looking statements.” Forward-looking statements are based on current expectations. You should not rely on our forward-looking statements because the matters they describe are subject to known and unknown risks and uncertainties that could cause the company’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” in our annual report on Form 10-K and under the caption “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations” (or similar captions) in our quarterly reports on Form 10-Q, and as described in our other filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the dates on which they are made, and the company undertakes no obligation to update publicly or revise any guidance or other forward-looking statement, whether as a result of new information, future developments, or otherwise, unless required by law.

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SOURCE EdR

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