JV BEGINS $37.6M STUDENT HOUSING PROJECT

OXFORD, MISS. — A joint venture between EdR and Landmark Properties has started construction on a $37.6 million, 668-bed off-campus student housing community, located at 2405 Anderson Road in Oxford, close to the University of Mississippi. Amenities include outdoor living areas, a resort-style pool, sand volleyball court and horseshoe pits. Additionally, the property will include a clubhouse with a fitness center, tanning beds, internet cafe, private and group study rooms, computer lounge, game room and golf simulator. The cottage-style development will be the first collegiate housing of its type serving the college. The joint venture secured a conventional 75 percent loan-to-cost construction loan from PNC Bank for the project. Completion is slated for the fall of 2013.