Here's the Deal
Baird's Investment Banking Group is pleased to announce the following transaction:
Education Realty Trust, Inc.
Baird served as a co-manager in this offering
Education Realty Trust, Inc. (NYSE: EDR) (the “Company”) recently completed a follow-on offering of 17,250,000 shares of its common stock at a price of $10.95 per share, generating gross proceeds of approximately $188.9 million. The Company intends to use the net proceeds from this offering to repay debt and fund its current development pipeline along with any pending and future acquisitions as well as for general corporate purposes.
Education Realty Trust, Inc. is a self-managed and self-advised real estate investment trust, or REIT, incorporated in July 2004 to develop, acquire, own and manage collegiate housing communities located near university campuses. The Company selectively develops collegiate housing communities for its own account and also provides third-party development consulting services on collegiate housing development projects for universities and other third parties. As of June 30, 2012, the Company owned or managed 62 communities in 23 states with over 34,900 beds within more than 11,400 units.