Student Housing: Education Realty wraps sale of student housing

By The Associated Press

MEMPHIS, Tenn. (AP) — Education Realty Trust Inc., a real estate investment trust that specializes in student housing, said Thursday it has completed the sale of five housing communities in three states for $53.1 million.

The properties are located in Kentucky, South Carolina and Georgia.

In all, the company cleared about $22.1 million in proceeds after paying back related debt of $29.3 million and other closing costs.

Shares in Education Realty Trust slipped 12 cents to $7.38 on Thursday.

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