BERKELEY, CA-Education Realty Trust Inc. is buying the Westminster House, a two-building student housing community situated next to the University of California-Berkeley, for $16.3 million. The community comprising 167 beds has an occupancy rate of 65%. With this acquisition, the REIT now owns or operates 57 assets across 23 states.
Education Realty will spend another $800,000 for renovation works prior to the 2011 fall move-in.For the full story, go to Memphis Business Journal.
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