Memphis, Tenn. — Richards joined EdR in 2001 and has advanced several times since then.
Memphis, Tenn. — EdR has promoted Christine Richards to executive vice president and chief operating officer. Her former title was senior vice president and chief operating officer. EdR also updated its fall 2014 pre-leasing statistics on Form 8-K and released an investor presentation in connection with upcoming investor meetings.
Richards joined EdR in 2001 as regional director and has advanced several times since that date. In the past five years, she successfully revamped EdR’s processes, systems and personnel to create market-leading leasing results and incomparable management services, EdR says.
As of Sept. 4, 2014, fall 2014 same-community pre-leasing occupancy was 96.2 percent, a 220 basis point improvement over the prior year, with a projected 2 percent increase in net rental rates.
“With less than a month remaining in the fall 2014 leasing cycle, we are confident that we will approach the higher end of our previously stated range of a 3 percent to 4 percent increase in same-community revenue for the 2014-2015 academic year,” says Richards.
New communities, representing 11 properties, are now 95.9 percent pre-leased as of Sept. 4, 2014 at net rental rates consistent with initial underwriting.
The investor presentation and pre-leasing statistics are available on the investor relations section of EdR’s Web site at www.EdRtrust.com.