Blog Exposure – An Affiliate of Greystar Real Estate Partners to Acquire Collegiate Housing Specialist Education Realty Trust

LONDON, UK / ACCESSWIRE / June 27, 2018 / If you want access to our free research report on Education Realty Trust, Inc. (NYSE: EDR) (“EdR”), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=EDR as the Company’s latest news hit the wire. On June 25, 2018, Greystar Real Estate Partners, LLC (“Greystar”) announced that its affiliate and newly-formed, perpetual-life fund, Greystar Student Housing Growth and Income Fund, LP (“GEdR”), has signed an agreement to acquire EdR. The all-cash deal is valued at approximately $4.6 billion, including EdR’s debt. The deal is expected to expand GEdR’s portfolio of student housing assets. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Education Realty Trust most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Management Quotes

Commenting on the acquisition of EdR, Bob Faith, Founder, Chairman, and Chief Executive Officer (CEO) of Greystar, said:

“EdR’s ONE Plan On-Campus platform is an integral component that drove our interest and we are excited about the continued on-campus growth opportunities it provides. Combined, we will leverage our expertise, vision, and financial strength to serve our current university partners, as well as further expand our global student housing footprint.”

Randy Churchey, CEO and Chairman of the Board of EdR, added:

“As a public Company, one of our priorities is to maximize stockholder value, and we believe this transaction with Greystar accomplishes that goal.”

Terms of the Acquisition

As per the agreement terms, GEdR has agreed to pay $41.50 in cash for each EdR share. GEdR has also agreed to assume or refinance any debt of EdR as part of the deal. The offer price is at a 13.6% premium of EdR share price on the closing of May 31, 2018, which was the last trading date before the speculation on the deal started doing the rounds. The deal has received the approval of EdR’s Board of Directors.

The deal is expected to close in H2 2018, subject to regulatory and EdR’s shareholders’ approvals and other closing conditions. EdR will be scheduling a meeting of its shareholders to vote on the matter, for which it will announce the date shortly. Greystar has clarified that the deal is not contingent on the receipt of financing from it.

Due to the acquisition, EdR will discontinue the payment of regular quarterly dividends to its shareholders. However, if the transaction is completed after October 15, 2018, EdR’s stockholders are expected to receive approximately $0.00435 per share on a per diem basis from October 15, 2018, till the close of the deal. In addition, the Company also does not plan to share or discuss its financial results for the quarter ending June 30, 2018.

Concurrent to the above transaction and once the deal is completed, a joint venture between the affiliates of Blackstone Real Estate Income Trust, Inc. (“BREIT”) and Greystar have agreed to acquire EdR’s portfolio of off-campus student housing assets. These student housing assets are prominently located very close to top-tier university campuses and will be managed by a team from the newly merged Greystar-EdR entity. For this transaction, BREIT plans to own a portfolio valued at approximately $10 billion on a pro-forma basis, consisting of stabilized, income generating real estate in US markets, with attractive growth and real estate debt securities.

About Blackstone Real Estate Income Trust, Inc.

BREIT is a perpetual-life, monthly NAV REIT, and is externally managed by BX REIT Advisors LLC, which is a subsidiary of Blackstone (NYSE: BX). It primarily invests in commercial real estate in the US, including multifamily, industrial, retail, and hotel assets, and to some extent in real estate-related securities.

About Education Realty Trust, Inc.

Memphis, Tennessee-based EdR is a publicly traded, self-administered, and self-managed REIT. It is one of the largest developers, owners, and managers of collegiate housing communities with a portfolio of impressive developments across the US. It owns or manages over 79 communities with 42,300 plus beds across 50 universities in 25 states.

About Greystar Real Estate Partners, LLC

Charleston, South Carolina-based Greystar was founded in 1993 by Bob Faith, and is a leading, fully-integrated real estate Company. It is an industry leader in multifamily real estate and experts in investment management, development, and property management. The Company has a global presence with offices in the US, Europe, Latin America, and Asia/Pacific. The Company is the largest operator of apartments in the US, managing more than 435,000 conventional units and student beds. The Company also has a robust institutional investment management platform dedicated to managing capital on behalf of a global network of institutional investors, with nearly $26 billion in gross assets under management (AUM), including more than $9.7 billion of developments underway. It is the 10th largest student housing operator in the US, with approximately $6 billion in student housing assets under management. The Company is also the largest student housing operator in Spain, and the 3rd largest owner of student housing assets in the UK.

Stock Performance Snapshot

June 26, 2018 – At Tuesday’s closing bell, Education Realty Trust’s stock slightly rose 0.07%, ending the trading session at $41.39.

Volume traded for the day: 4.07 million shares, which was above the 3-month average volume of 1.33 million shares.

Stock performance in the last month – up 19.31%; previous three-month period – up 30.57%; past twelve-month period – up 2.50%; and year-to-date – up 18.53%

After yesterday’s close, Education Realty Trust’s market cap was at $3.15 billion.

Price to Earnings (P/E) ratio was at 65.59.

The stock has a dividend yield of 3.77%.

The stock is part of the Financial sector, categorized under the REIT – Residential industry.

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