GMH gains student housing in Georgia

GMH Communities Trust announced that its student housing division, College Park Communities, has acquired Blanton Common, a newly constructed student housing community in Valdosta, Ga.

The value of the transaction was approximately $25 million.

The 208-unit/608-bed property is located near the campus of Valdosta State University.

The property was 100 percent leased at the time of sale and recently celebrated its grand opening for the 2005-2006 academic year.

The property has garden-style units, comprised of private bedroom and private bathroom accommodations, and offers amenities such as two clubhouses, swimming pool, lap pool, tennis, basketball and volleyball courts, computer lab, sundry store, game room, fitness center and tanning beds.

This latest acquisition is GMH's 21st student-housing-property purchase this year.

GMH Communities Trust is a publicly traded Maryland real estate investment trust.

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