FINAL PHASE COMPLETE FOR THE COURTYARDS STUDENT APARTMENTS

ANN ARBOR, MICH. — The final phase of construction is complete for The Courtyards Student Apartments, an 896-bed student housing communication located at 1780 Broadway in Ann Arbor, adjacent to the North Campus of the University of Michigan. The community comprises three four-story buildings with a mix of one-, two-, three- and four-bedroom units, all of which are fully furnished. Amenities include barbecue and picnic areas, an outdoor badminton court, a fitness center, study and meeting rooms and a movie room with surround sound. The 282-unit first phase was completed in August 2008, and the 298-bed second phase opened this May. The Courtyards Student Apartments is owned by Ann Arbor Campus Housing LLC, an affiliate of Kensington Realty Advisors (KRA), and is managed by Allen & O'Hara Education Services, the property management subsidiary of Education Realty Trust. Kensington Marquette Partners LLC, another affiliate of KRA, developed the community along with Allen & O'Hara.