REIT buys another student housing community

GMH Communities Trust lands in north Florida

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GMH Communities Trust recently announced that its student housing division, College Park Communities, has acquired Seminole Suites, a class A student housing property serving Florida State University, Tallahassee Community College and Florida A & M University in Tallahassee, Fla. The 264-unit/924-bed community was acquired for a purchase price of approximately $33.3 million. Seminole Suites, developed in 2004, includes 11 three-story apartment buildings, as well as a leasing office and more than 25 acres of landscaped grounds. The property offers a variety of student-oriented amenities, including a clubhouse, computer lounge, two swimming pools, a beach volleyball court, basketball court, electronic game room, tanning booth and fitness center. With this latest purchase, the student housing assets acquired by GMH in 2005 total 17 properties. GMH Communities Trust is a publicly traded Maryland real estate investment trust. *** What's your opinion? Send your Letter to the Editor...