GMH COMMUNITIES TRUST

GMH COMMUNITIES TRUST

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Company Overview
GMH Communities Trust, with headquarters in Newtown Square, Pennsylvania, is a self-advised, self-managed, specialty housing company that focuses on providing housing to college and university students residing off-campus and to members of the U.S. military and their families. The company was formed in May 2004 to continue and expand upon the student and military housing businesses of its predecessor entities and other affiliated entities collectively known as GMH Associates. GMH Associates was founded in 1985 principally to acquire, develop, and manage commercial and residential real estate while focusing on student housing.
GMH Communities Trust is the nation’s leading provider of housing, lifestyle and community solutions for students and members of the U. S. military and their families. The company, through its operating partners, owns and operates student housing properties; provides property management services to clients that own student housing properties including colleges, universities, financial institutions, equity funds and other private owners; and owns minority interest in joint ventures that own military housing privatization projects. Additionally, through its taxable REIT subsidiaries, GMH provides development, construction, renovation, and management services for the military housing privatization projects and property management services to certain other owners of student housing properties as well as certain non-customary services for its student housing properties. GMH’s portfolio consists of managed properties, military projects, and owned properties. The company’s managed properties are composed of Campus Club Apartments in Florida, Campus Connection in North Carolina, Campus Pointe in Illinois and Kentucky, Nittany Pointe in Pennsylvania, Pegasus Landing in Florida, and Westminister House South in California among others. GMH’s military projects include the AETC Group 1, which consists of four Air Force Bases in four states; Carlisle Barracks/ Picatinny Arsenal in New Jersey; Fort Bliss/ White Sands Missile Range in Texas and New Mexico; Fort Carson in Colorado; Fort Eustis/ Story in Virginia; and U.S. Military Academy in West Point, New York. GMH’s owned properties include the Abbott Place in Michigan, Aztec Corner in California, Blanton Common in Georgia, Brookstone Village in North Carolina, Burbank Commons in Louisiana, Cambridge at Southern in Georgia, Campus Corner in Indiana, The Commons Apartments in Virginia, The Enclave in Ohio, and Fields in Illinois.
Business Summary
GMH Communities Trust (the Trust) is a real estate investment trust (REIT). The Trust is a self-advised, self-managed, specialty housing company that focuses on providing housing to college and university students residing off-campus. Through its operating partnership, the Trust owns and operates its student housing properties. Generally, it provides through its taxable REIT subsidiaries, property management services for student housing properties owned by others. In addition, through its operating partnership, it provides consulting services with respect to the management of certain student housing properties owned by others, including colleges, universities and other private owners. It is one of the providers of housing, lifestyle and community solutions for students. On April 30, 2008, the Trust announced the completion of the sale of its military housing division to a United States subsidiary of Balfour Beatty plc. In June 2008, American Campus Communities, Inc. acquired the Trust.
Description and history
GMH Communities Trust (the Trust) is a real estate investment trust (REIT). The Trust is a self-advised, self-managed, specialty housing company that focuses on providing housing to college and university students residing off-campus. Through its operating partnership, the Trust owns and operates its student housing properties. Generally, it provides through its taxable REIT subsidiaries, property management services for student housing properties owned by others. In addition, through its operating partnership, it provides consulting services with respect to the management of certain student housing properties owned by others, including colleges, universities and other private owners. It is one of the providers of housing, lifestyle and community solutions for students. On April 30, 2008, the Company announced the completion of the sale of its military housing division to a United States subsidiary of Balfour Beatty plc. The military housing business will be managed under the name Balfour Beatty Communities. In June 2008, American Campus Communities, Inc. completed the acquisition of the Trust.

As of December 31, 2007, the Trust owned or had ownership interests in 72 student housing properties, containing a total of 13,232 units and 42,670 beds. It also owned seven undeveloped or partially developed parcels of land held for development as student housing properties and it managed a total of 17 student housing properties owned by others, containing a total of 3,185 units and 10,647 beds, as well as 48 units and 262 beds under construction. The Company holds a 10% interest in joint ventures that own eight of these student housing properties, covering a total of 1,140 units and 4,160 beds and provide management services for all of these properties.

The Company seeks to acquire and manage student housing properties located near college or university campuses and other points of interest, such as restaurants or other nightlife destinations that cater to students. The properties it seeks to acquire and manage include town homes and high-rise, mid-rise and garden-style apartment complexes. The amenities it offers residents vary by property, but include many of those commonly sought by students, such as private bedrooms and bathrooms, student furnishings, cable television, wired and wireless high speed Internet access, a washer and dryer in each unit, fitness centers, swimming pools, computer centers, study rooms and game rooms. Additionally, it provides, among other things, student housing employees living on-site, as well as 24-hour maintenance and emergency services. Although it targets student residents, a small percentage of its residents are non-students.

GMH Communities Trust’s property lease typically contains a 12-month lease term. As of December 31, 2007, it managed all of the student housing properties owned by it and 18 student housing properties not owned by the Trust. It manages the student housing properties not owned by it through its taxable REIT subsidiary, College Park Management TRS, Inc.

The Trust competes with Education Realty Trust, American Campus Communities, Inc., Place Properties, Ambling Companies, Campus Advantage, The Dinerstein Companies, JPI Student Living, The Preiss Company, University Housing Group and Campus Apartments.

Formed to continue and expand upon the student and military housing businesses of its predecessor entities and other affiliated entities collectively known as GMH Associates

Business Line
Provides housing to college and university students residing off-campus and to members of the U.S. Military and their families
Subsidiary

Advisor
ERNST & YOUNG LLP
IPO date
11/2004
US SIC Code
6798
Company Address
10, Campus Boulevard

City province or state postal code
19073, NEWTOWN SQUARE, PA
Phone: +1 610 355 8000
Fax: +1 610 355 8001
Country address: UNITED STATES OF AMERICA
Website url: www.gmhcommunities.com