Education Realty Trust 8-K Regulation FD Disclosure

PRELEASING SUMMARY

						Preleasing at May 28,
Community Type	Design Beds	% of NOI		2013 Opening Occupancy		2014		2013		Preleasing Ahead/(Behind)		Projected Rate Growth
Same-Communities - by Tier
Prior Year Occupancy Below 90% (Tier 1)	4,173	12.9	%	82.7	%	69.1	%	56.6	%	12.5	%	(0.8	)%
Prior Year Occupancy 90% to 94.9% (Tier 2)	5,992	26.7	%	92.3	%	72.5	%	65.7	%	6.8	%	1.0	%
Prior Year Occupancy 95% to 97.9% (Tier 3)	5,514	21.2	%	96.4	%	78.3	%	78.0	%	0.3	%	2.9	%
Subtotal - Tiers 1 - 3	15,679	60.8	%	91.2	%	73.6	%	67.6	%	6.0	%
Prior Year Occupancy 98% and Above (Tier 4)	8,235	39.2	%	99.8	%	93.4	%	94.3	%	(0.9	)%	3.0	%
Total Same-Communities (1)	23,914	100.0	%	94.2	%	80.4	%	76.8	%	3.6	%	2.0	%
Total New-Communities	3,024					77.8	%
Total Communities	26,938					80.1	%

Projected Fall Revenue:

Based on current leasing velocity shown above and individual market conditions, we are projecting fall revenue to be up 3% to 4%, including a 1% to 2% increase in occupancy and an approximate 2% growth in net rental rates.

NOTE: Leasing update does not include 601 same-community and 2,381 new-community beds at the University of Kentucky. The university's assignment process is underway with all 2,982 beds currently 189% applied for this fall.

(1) The same-community designation for leasing purposes is different than for financial statement purposes. A community is considered same-community for leasing when the Company has managed the leasing process for at least two leasing cycles, including the Fall 2014 lease cycle.