Education Realty Trust Completes Sale of Five Properties for $46.1 Million (EDR)

Education Realty Trust Inc. EDR today announced it completed the sale of five collegiate housing communities that were previously disclosed in 2010, for a total price of $46.1 million. The dispositions included The Chase at Murray in Murray, Ky.; Clemson Place in Clemson, S.C.; The Reserve at Martin in Martin, Tenn.; The Reserve at Jacksonville in Jacksonville, Ala.; and Troy Place in Troy, Ala. In total the company received approximately $29.7 million in net proceeds after repayment of related debt of $16.1 million and other closing costs.