University of Kentucky
SERVICES: EdR DEVELOPMENT • EdR FINANCING
This housing renaissance at the University of Kentucky(UK) has delighted students and administrators alike.
As you can see in this video, the students are thrilled with the living-learning aspects of the new on-campus housing developed, constructed and managed by EdR. They also love the apartments and living in a community “where everyone cares about each other.”
UK leadership is equally pleased.
Preliminary enrollment numbers for the 2014-2015 academic year show UK has enrolled its largest, most diverse and academically prepared first-year class in its history. Dr. Eli Capilouto, president of the University of Kentucky said investments in the campus are an example of a “promise made; promise kept” to the Commonwealth of Kentucky.
The UK Board of Trustees “understood the need to grow our enrollment thoughtfully and strategically, to find new and innovative ways to invest in our students, faculty and staff, and to make tangible, concrete steps toward being one of the handful of premier residential public research campuses in America,” Capilouto said.
The approximately $500 million on-campus revitalization is being financed through EdR’s On-Campus Equity Plan — the ONE Plan — which uses EdR’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
February 23, 2015 | EdR announces results for the quarter and year ended December 31, 2014.
January 12, 2015 | EdR today announced fourth quarter capital transactions, 2015/2016 preleasing and details for its fourth quarter 2014 earnings release and conference call.
December 4, 2014 | In connection with its previously consummated unsecured bond financing, EdR announced that the company was assigned a Baa3 senior unsecured shelf rating with stable outlook by Moody’s Investors Service, and a ‘BBB-’ issue level rating to the unsecured notes issued by Education Realty Operating Partnership, LP, EdR’s operating subsidiary, from Standard & Poor’s Ratings Services.
November 20, 2014 | EdR today announced that its Board of Directors has approved a reverse stock split of EdR’s outstanding shares of common stock at a ratio of 1-for-3. The reverse stock split is expected to take effect at about 8:00 a.m. Eastern time on December 1, 2014 (the “Effective Time”).
November 19, 2014 | EdR today announced that Paul O. Bower will retire as Chairman of the Company’s Board of Directors on December 31, 2014. The Board of Directors appointed EdR President and Chief Executive Officer Randy Churchey to the position of Chairman of the Board. Tom Trubiana, EdR’s executive vice president and chief investment officer, will advance to the role of President and will join the Board of Directors.