U.K./Education Realty Trust Plan Dorm Partnership

• {Lexington, Kentucky}...The University of Kentucky Board of Trustees will discuss a proposal Tuesday that calls for UK to partner with Memphis, Tenn.-based Education Realty Trust, a company that builds and manages student housing. The proposal calls for Education Realty Trust to build and manage a 600-bed, $26 million dorm under a 50 year lease. The board is also expected to take a preliminary step in a broader agreement with the company that would lead to replacing nearly 6,000 dorm beds and add 3,000. UK officials say the deal is the only affordably way that new dorms with modern technology can be built in a short amount of time, which is essential for student recruitment and success. Education Realty Trust has dorms at more than 57 campuses in 23 states.