June 27, 2008

Land-Rich Universities Weigh New Options for Real-Estate Development

By Paul Fain

Real-estate-rich universities are taking advantage of new ways to develop their holdings through corporate partnerships, says a report released this week by Moody's Investors Service, a credit-rating agency. Those partnerships pose a wide range of payoffs and risks, the agency says.

Universities have long been strategic real-estate investors. Many urban institutions own off-campus buildings while rural and suburban colleges often hold tracts of vacant land. Those "banked"

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