With a grand ceremony, EdR (EDR Quick QuoteEDR - Free Report) unveiled the beginning of construction of a residential hall at Shepherd University in Shepherdstown, WV. The construction of the residential hall exemplifies the dedication of the university to strategically move ahead with plans of development. This new addition will not only beautify the campus and spur student progress, but also fuel economic development in Shepherdstown and the entire region.

Shepherd University Foundation Supporting Organization (“SUFSO”) appointed EdR to supervise various aspects of this third-party development, which included construction, design as well as financing. EdR and SUFSO were assisted by Raymond James Financial, Inc. (RJF Quick QuoteRJF - Free Report) for financing this $22 million project.

Slated to be completed in summer 2017, the five-story residential hall will include a blend of single and double suite-style units of total 298 beds. Various facilities in the hall will include classrooms, study rooms equipped with internet and Wi-Fi, student lounges, a food service and a dining area.

Based in Memphis, TN, EdR owns, manages, and develops student housing communities located near university campuses throughout the U.S.
 

EDUCATION RLTY Price

EDUCATION RLTY Price | EDUCATION RLTY Quote

Currently, EdR carries a Zacks Rank #2 (Buy), whereas Raymond James Financial has a Zacks Rank #3 (Hold).

Investors interested in the residential REIT sector can consider stocks like Equity LifeStyle Properties, Inc. (ELS Quick QuoteELS - Free Report) and Post Properties Inc. , both carrying the same Zacks Rank as EdR.

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