Miami — The apartments are the first purpose-built units in the community. Purchase is subject to the completion of the project in time for fall 2014 occupancy.
Miami — EdR will acquire a purpose-built development directly across the street from the Florida International University (FIU) campus for $43.5 million from a Miami-area developer.
FIU is the second-largest university in Florida and the seventh largest in the United States with a 2012 total enrollment of 50,394 consisting of approximately 36,000 undergraduate and 14,000 graduate students.
This 15-story community is currently being constructed adjacent to the north side of the university's main campus, and it is the first purpose-built student housing community development at FIU. The 542-bed apartment community will offer a variety of two- and four-bedroom apartments, with private baths for each bedroom and a washer and dryer in each unit. Amenities include a pool, robust Internet and Wi-Fi access, fitness center, theater room and an outdoor deck.
EdR's acquisition is subject to the completion of the project in time for fall 2014 occupancy. EdR is responsible for all leasing and management operations.