University of Kentucky
SERVICES: EdR DEVELOPMENT • EdR FINANCING
Video Overview of the UK Campus Revitalization Development
University of Kentucky needed not only a development partner, but a financial partner to expand and revitalize the entirety of its student housing solution.
“Today marks what we hope and expect will be a transformative moment in the life of our university,” said Britt Brockman, chairman of UK’s Board of Trustees. “We are taking the first step, with the leadership of President Capilouto and the strong support of our board, toward revitalizing our campus core. The result long-term will be a flagship, land-grant institution that prepares Kentucky’s children to lead our Commonwealth toward even brighter days in the future.”
This housing renaissance is one aspect of fulfilling “The Kentucky Promise,” Capilouto’s initiative to revitalize the campus, enhance undergraduate education, offer more opportunities to young Kentuckians through scholarships and continue a nearly 150-year legacy of education, research and service to the Commonwealth.
The $25.8 million project is being financed through EdR’s On-Campus Equity Plan — the ONE PlanSM — which uses the company’s equity and financial stability to fund projects on university-owned land. This gives the university access to a single, trusted partner and helps create substantial long-term financial benefits for UK and EdR.
EdR IN THE NEWS
August 19, 2013 | EdR released an investor presentation and update to its fall 2013 pre-leasing statistics on Form 8-K in connection with upcoming investor meetings. The presentation also includes data on university enrollment trends for schools served by EdR and other student housing industry statistics.
August 9, 2013 | EdR celebrated the re-opening of 3949 Lindell Apartments on Friday, August 9, 2013. The upscale collegiate apartment community blocks from the center of Saint Louis University campus is back and better than ever one year after a five-alarm fire forced its partial demolition.
July 25, 2013 | With more than 15 years of higher education experience resulting in more than $2 billion in development, Skolnicki has focused her career on creating dynamic student-life environments driven by institutional objectives. Skolnicki joins EdR from Brailsford & Dunlavey, where she served as vice president. She worked on more than 100 college and university projects during her 14-year tenure including the development of The Ohio State University’s North Residential District Transformation which she will continue to support. This $370 million, multi-phased project is scheduled to be completed for fall semester 2016 and will add 3,200 new beds along with new dining, recreation and other support facilities to the campus.
July 15, 2013 | EdR announced that its board of directors has approved a quarterly cash dividend of $0.11 per share of common stock — an increase of 10%. The dividend will be payable August 15, 2013 to shareholders of record as of July 31, 2013.
July 15, 2013 | EdR announced Core FFO per Share was up more than 8% and other results for the quarter ended June 30, 2013.