MEMPHIS, Tenn., Sept. 5, 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 Potomac Place, a new third-party development residence hall on the campus of Shepherd University in Shepherdstown, W.Va. In 2017, EdR will add nearly $300 million in assets to its owned portfolio and deliver nearly $100 million in third-party developments.
The new five-story residence hall has a mix of single and double suite-style units for a total of 298 beds. Amenities include a food service and dining area, classroom, student lounges and study rooms along with robust internet and Wi-Fi capabilities throughout the community. The Shepherd University Foundation Supporting Organization (SUFSO) owns the building and the university will provide management services.
"We are ecstatic about the beautiful Potomac Place residence hall built by EdR," said Shepherd's President Mary J.C. Hendrix. "This new building is a magnet for students, faculty, and staff to interact with each other while enjoying a state-of-the-art venue."
EdR president Tom Trubiana, who earned his undergraduate and master's degree in West Virginia, said Potomac Hall will do great things for Shepherd University and its students.
"We've seen time and time again what a positive impact modern on-campus student housing can have on a university," Trubiana said. "In Potomac Place, Shepherd has created a great environment for students and it will be a great tool in the recruiting, retention and academic success of the students who live here. We're proud to have begun a lasting relationship with this exceptional university."
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 87 communities with more than 46,000 beds serving 54 universities in 26 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
For media information or photography, contact:
Craig Wack, PR Coordinator
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
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.