GMH Communities Trust, through its military housing division, announced today that it has finalized its agreements with the Department of the Air Force to be the private sector developer for the Air Education and Training Command (AETC) Group 1 Military Housing Privatization project. The 50-year term of the project commences with a five-year Initial Development Period (IDP) that includes the design, construction and/or renovation of, as well as the overall management, maintenance and operational responsibilities for, a total of 2,875 end-state housing units located at Atlus Air Force Base, Atlus, OK; Luke Air Force Base, Glendale, AZ; Sheppard Air Force Base, Wichita Falls, TX; and Tyndall Air Force Base, Panama City, FL. Approximately $337.1 million will be expended over the five-year IDP to improve family housing at these bases through renovation and replacement of existing homes.

Throughout the term of the project, the Company will earn management, construction/renovation and development fees, as well as an equity return on its capital investment. The Company is utilizing its strategic alliances with The Benham Companies, Inc., an Oklahoma City-based architectural and engineering firm, and Greeley, Colorado-based Hensel Phelps Construction Company, for the project.

Bruce Robinson, president of the Company’s military housing division said, “We have a long-term commitment to be a leading provider of quality housing for U.S. military service members and their families, and are thrilled with the opportunity to partner with the Department of the Air Force for the first time. This is our 10th military housing privatization project overall, and we look forward to providing the same quality management and maintenance services to Air Force personnel that we have been providing under our Army and Navy projects across the country.”

Congressionally authorized since 1996, the Military Housing Privatization Initiative allows the Department of Defense, and the Department of the Air Force, to work with the private sector to upgrade the quality of family housing and operate and maintain that housing. The family housing assets are leveraged with private investment to accomplish housing construction goals faster and at a lower cost than military construction.

GMH Military Housing (www.gmhmilitaryhousing.com), currently operates nine military housing privatization projects, and previously has partnered with the U.S. Department of the Army for the military family housing privatization projects at Fort Stewart and Hunter Army Airfield, southeast Georgia; Walter Reed Army Medical Center, Washington, DC and Fort Detrick, Frederick, Maryland; Fort Hamilton, Brooklyn, New York; Fort Carson, Colorado Springs, Colorado; Fort Gordon, Augusta, Georgia; Carlisle Barracks, Carlisle, Pennsylvania; Picatinny Arsenal, Dover, New Jersey; Fort Eustis, Newport News, VA and Fort Story, Virginia Beach, VA; Fort Bliss, El Paso, Texas and White Sands Missile Range, Las Cruces, New Mexico; and with the U.S. Department of the Navy for the Navy Northeast Region Project, covering eight Navy bases in Maine, Rhode Island, Connecticut, New York and New Jersey.

About GMH Communities Trust

GMH Communities Trust (www.gmhcommunities.com) is a publicly-traded Maryland real estate investment trust (REIT). We are a self-advised, self-managed, specialty housing company focused on providing housing to college and university students residing off-campus and to members of the U.S. military and their families residing on or near bases throughout the United States. GMH Communities also provides property management services to third-party owners of student housing properties, including colleges, universities, and other private owners. The Company, based in Newtown Square, PA, employs more than 2,150 people throughout the United States.

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release that are based on our current expectations, estimates and projections about future events and financial trends affecting us are “forward-looking statements.” Forward-looking statements can be identified by the use of words such as “may,” “will,” “should,” “expect,” “estimate” or other comparable terminology. These statements are inherently subject to risks and uncertainties, including the risks relating to our business presented in our filings with the Securities and Exchange Commission. Forward-looking statements are made as of the date of this press release, and we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Source: GMH Communities Trust

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