WOODRIDGE TO CONSTRUCT STUDENT HOUSING PROPERTY

COLLEGE STATION — Woodridge College Station I LLC has plans to construct a student housing development in two phases at the northwest corner of University Drive and Texas Avenue in College Station. The location once was home to the 17-story Plaza Hotel, which was imploded in May 2012 to make way for the new student housing property. Phase I of the development will include 928 beds and approximately 53,000 square feet of retail, restaurants and public space. Phase I is slated for a fall 2014 delivery. Phase II will include the addition of 1,000 beds and is slated for a fall 2015 delivery. Woodridge College Station is an affiliate of Los Angeles-based Woodridge Capital Partners. Woodridge College Station is developing the student housing property in partnership with funds managed by Oaktree Capital Management and in collaboration with Capstone Collegiate Communities. Construction is slated to begin in spring 2013.