University Walk is a 120-unit, garden-style apartment complex that serves the University of North Carolina. The 172,080-sf property contains 480 bedrooms and includes a swimming pool, tanning beds and fitness center. It is within walking distance of the UNC campus.

Campus Walk is a 155,088-sf, garden-style complex of 108 apartment units with an aggregate of 432 beds. It was purpose-built for the University of Mississippi and adjoins the campus.

Pirates Cove is a three-story, 366,432-sf apartment complex, purpose-built for students enrolled at East Carolina State University. It contains 1,056 beds in 264 apartment units and two clubhouses in addition to other amenities.

The remaining properties in the portfolio are in Chapel Hill and Raleigh, NC. They serve markets surrounding the University of North Carolina and North Carolina State University.

Joe Coyle, president of College Park Communities, describes the portfolio as a key component of GMH's student housing acquisition strategy, which closed $82 million in new acquisitions in this real estate segment in 2003. The GMH portfolio includes purpose-built student housing assets as well as other properties and land parcels for development that are strategically located to serve colleges.

Coyle points to positive national demographics in the student housing sector over the next decade "as the nation's `Millenials,' children of the baby boomer population, seek secondary education. We plan to continue our expansion in the student housing market to meet that climbing demand all across the country," he says.