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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