VALDOSTA, GA-GMH Communities Trust of Newtown Square, PA has acquired its 21st student housing property this year with the $25-million purchase of Blanton Common. The newly constructed, 208-unit, 608-bed apartment community is near the campus of Valdosta State University here, about 200 miles south of Downtown Atlanta.

College Park Communities, a GMH division, paid $41,118 per bed or $120,192 per unit for the 100%-leased property. College Park Management leased the building during its construction period and will continue to manage the garden-style property. Blanton Common has two clubhouses, swimming and lap pools, tennis, basketball and volleyball courts, computer lab, sundry store, game room, fitness center and tanning beds.

GMH has invested about $426 million this year in new acquisitions and three land parcels, the company says in a prepared statement. Joseph M. Coyle, president of GMH's student housing division, says the acquisition of Blanton Common is "consistent with our strategy of acquiring high-quality, purpose-built properties in attractive, growing markets."