The Province sold to Tennessee management company

Daniel Moore

Editor’s note: Updated at 4:56 p.m.

The Province announced a change of ownership Tuesday in a letter distributed to its residents.

Edwards Student Housing, the developer of the student apartments that opened this fall, reportedly made the sale official Nov. 16 to Education Realty Trust (EdR), a Memphis-based company that has developed more than 33 privatized housing communities.

“New and exciting things are happening at The Province,” the letter read. “On November 16, 2012, The Province was purchased by EdR, one of the nation’s largest owners, developers and managers of collegiate housing.”

The letter told residents the transition would not affect their lease terms or rent rates, but those who pay online would need to enroll in the new Province resident portal.

According to the letter, “[Residents] are set and do not need to do anything.”

Edwards Student Housing, based in Columbus, has developed 30,000 residential units in over 30 cities across the United States since 1959. The Province was one of three new student apartment complexes to open this fall and the first to make a transfer in ownership.

John White, spokesman for Edwards Student Housing, emphasized that operations at The Province would continue to remain the same. The company has partnered with EdR on other projects, he said.

“(EdR is) an investor in projects that we do,” White said. “There’s no boogeyman under the bed. There’s no story here.”

As for any future changes for residents, “that’ll be up to the management company,” White said, but added that the new management is “basically the same people” currently working there.

“I think that property is a wonderful property, and think it’ll continue to be a wonderful property,” he said. “We built it with care, as we do all of our communities and I don’t think they’ll see much change at all.”

Messages left with Susan Jennings, vice president of corporate communications and marketing for EdR, were not immediately returned. Province staff were not available for comment, but the letter indicated further updates would be announced to residents in the coming weeks.

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Contact Daniel Moore at [email protected].