The firms are forming Education Properties Trust, through a strategic alliance, for the acquisitions. Education Properties Trust was formed to take advantage of the increase in demand for convenient-to-campus apartments, particularly at major state universities, according to a prepared statement from Allen & O'Hara. The developer has 35 years experience in the student housing industry. The company has developed, owned or managed 75 student-housing properties with 27,000 beds in 19 states. "They really pioneered the private ownership of student housing," Mimi Hall, an investor relation's consultant, tells Globest.com. A recent development has been universities contracting with the company to build leased student housing. Increasing enrollments and changing student preferences, according to EPT, are fueling the demand for student housing. Future acquisitions are expected to target properties that are well-constructed and well-located at universities with a limited new supply of apartments.
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David Wilkening
David Wilkening began his long journalism career as a police reporter for Chicago-area newspapers. He became a writer-editor for major newspapers in Chicago, Washington, Detroit and Florida. He has been a business editor, political editor and travel editor for newspapers and magazines. He tried for a while to be a political operative but did better as an adjunct college professor teaching English and journalism. He is the author of several books, both ghost-written and under his own name. He is also a widely published freelance writer who currently lives in Orlando.
