Education Realty Trust 10-Q 7 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 06, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'EDUCATION REALTY TRUST, INC.	'
Entity Central Index Key	'0001302343	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Large Accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Trading Symbol	'EDR	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	142,495,459
Entity Well-known Seasoned Issuer	'Yes	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets:	'	'
Collegiate housing properties, net	$1,619,531	$1,388,885
Collegiate housing properties - held for sale, net	27,834	0
Assets under development	69,635	116,787
Corporate office furniture, net	3,382	3,249
Cash and cash equivalents	18,422	22,073
Restricted cash	13,482	12,253
Student contracts receivable, net	2,058	807
Receivable from managed third parties	16	361
Notes receivable	375	18,125
Goodwill and other intangibles, net	3,712	3,822
Other assets	54,457	44,203
Total assets	1,812,904	1,610,565
Liabilities:	'	'
Mortgage and construction debt, net of unamortized premium	336,114	422,681
Unsecured revolving credit facility	210,000	356,900
Unsecured term loans	187,500	0
Accounts payable	5,252	2,289
Accrued expenses	64,881	65,357
Deferred revenue	25,517	23,498
Total liabilities	829,264	870,725
Commitments and contingencies (see Note 6)	'	'
Redeemable noncontrolling interests	12,052	9,871
Equity:	'	'
Common stock, $0.01 par value per share, 200,000,000 shares authorized, 142,402,758 and 114,740,155 shares issued and outstanding as of September 30, 2014 and December 31, 2013, respectively	1,424	1,148
Preferred shares, $0.01 par value, 50,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	1,033,860	813,540
Accumulated deficit	-64,306	-88,964
Accumulated other comprehensive loss	-2,414	0
Total Education Realty Trust, Inc. stockholders’ equity	968,564	725,724
Noncontrolling interests	3,024	4,245
Total equity	971,588	729,969
Total liabilities and equity	$1,812,904	$1,610,565

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value (usd per share)	$0.01	$0.01
Common stock, shares authorized (shares)	200,000,000	200,000,000
Common stock, shares issued (shares)	142,402,758	114,740,155
Common stock, shares outstanding (shares)	142,402,758	114,740,155
Preferred shares, par value (usd per share)	$0.01	$0.01
Preferred shares, shares authorized (shares)	50,000,000	50,000,000
Preferred shares, shares issued (shares)	'	'
Preferred shares, shares outstanding (shares)	'	'

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues:	'	'	'	'
Collegiate housing leasing revenue	$47,657	$39,550	$144,677	$116,338
Third-party development consulting services revenue	3,705	839	5,264	1,989
Third-party management services revenue	1,052	918	2,856	2,710
Operating expense reimbursements	2,290	2,162	6,492	8,141
Total revenues	54,704	43,469	159,289	129,178
Operating expenses:	'	'	'	'
Collegiate housing leasing operations	26,920	23,847	70,062	59,430
Development and management services	2,337	1,826	6,964	5,224
General and administrative	3,422	1,709	7,520	5,693
Depreciation and amortization	14,688	11,387	42,928	33,548
Ground lease expense	2,329	1,833	6,162	5,631
Loss on impairment of collegiate housing properties	953	0	12,734	0
Reimbursable operating expenses	2,290	2,162	6,492	8,141
Total operating expenses	52,939	42,764	152,862	117,667
Operating income	1,765	705	6,427	11,511
Nonoperating (income) expenses:	'	'	'	'
Interest expense	4,508	4,569	15,076	12,478
Amortization of deferred financing costs	516	438	1,533	1,268
Interest and other nonoperating income	-9,527	-129	-9,638	-372
Gain on insurance settlement	-8,133	0	-8,133	0
Loss on extinguishment of debt	243	0	892	0
Total nonoperating (income) expense	-12,393	4,878	-270	13,374
Income (loss) before equity in losses of unconsolidated entities, income taxes, discontinued operations and gain on sale of collegiate housing properties	14,158	-4,173	6,697	-1,863
Equity in losses of unconsolidated entities	-236	-61	-370	-102
Income (loss) before income taxes, discontinued operations and gain on sale of collegiate housing properties	13,922	-4,234	6,327	-1,965
Income tax expense (benefit)	910	-32	598	-269
Income (loss) from continuing operations	13,012	-4,202	5,729	-1,696
Loss from discontinued operations	0	-280	0	4,381
Income before gain on sale of collegiate housing properties	13,012	-4,482	5,729	2,685
Gain on sale of collegiate housing properties	8,421	0	19,322	0
Net income (loss)	21,433	-4,482	25,051	2,685
Less: Net income (loss) attributable to the noncontrolling interests	33	-20	393	6
Net income attributable to Education Realty Trust, Inc.	21,400	-4,462	24,658	2,679
Income (loss) attributable to Education Realty Trust, Inc. common stockholders per share – basic and diluted:	'	'	'	'
Continuing operations (usd per share)	$0.15	($0.04)	$0.20	($0.02)
Discontinued operations (usd per share)	$0	$0	$0	$0.04
Net income attributable to Education Realty Trust, Inc. common stockholders per share (usd per share)	$0.15	($0.04)	$0.20	$0.02
Distributions per share of common stock (usd per share)	$0.12	$0.11	$0.34	$0.31
Weighted average common shares outstanding – basic	140,301,433	114,812,694	124,019,046	114,301,779
Weighted average common shares outstanding – diluted	141,339,033	114,812,694	125,056,646	114,301,779
Amounts attributable to Education Realty Trust, Inc. – common stockholders:	'	'	'	'
Income (loss) from continuing operations, net of noncontrolling interests	21,400	-4,184	24,658	-1,671
Income from discontinued operations, net of noncontrolling interests	0	-278	0	4,350
Net income attributable to Education Realty Trust, Inc.	21,400	-4,462	24,658	2,679
Comprehensive income:	'	'	'	'
Net income (loss)	21,433	-4,482	25,051	2,685
Other comprehensive loss:	'	'	'	'
Gain on cash flow hedging derivatives	1,343	0	-2,414	0
Comprehensive income (loss)	22,776	-4,482	22,637	2,685
Less: comprehensive income attributable to the noncontrolling interests	33	-20	393	6
Comprehensive income (loss) attributable to Education Realty Trust, Inc.	$22,743	($4,462)	$22,244	$2,679

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $)	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Noncontrolling Interests
In Thousands, except Share data, unless otherwise specified
Beginning balance at Dec. 31, 2012	$762,810	$1,131	$849,878	($93,287)	'	$5,088
Beginning balance, shares at Dec. 31, 2012	'	113,062,452	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Common stock issued to officers and directors, shares	'	33,180	'	'	'	'
Common stock issued to officers and directors	360	'	360	'	'	'
Proceeds from issuances of common stock, net of offering costs, shares	'	1,563,196	'	'	'	'
Proceeds from issuances of common stock, net of offering costs	16,611	17	16,594	'	'	'
Amortization of restricted stock, shares	'	43,493	'	'	'	'
Amortization of restricted stock	1,008	'	1,008	'	'	'
Cash dividends	-35,380	'	-35,380	'	'	'
Return of equity to noncontrolling interests	-796	'	'	'	'	-796
Contributions from noncontrolling interests	1,197	'	'	'	'	1,197
Purchase of noncontrolling interests	-6,868	'	-6,693	'	'	-175
Adjustments to reflect redeemable noncontrolling interests at fair value	0	'	'	'	'	'
Comprehensive income (loss)	2,685	'	'	2,679	'	6
Ending balance at Sep. 30, 2013	741,627	1,148	825,767	-90,608	'	5,320
Ending balance, shares at Sep. 30, 2013	'	114,702,321	'	'	'	'
Beginning balance at Dec. 31, 2013	729,969	1,148	813,540	-88,964	'	4,245
Beginning balance, shares at Dec. 31, 2013	'	114,740,155	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'
Common stock issued to officers and directors, shares	'	40,152	'	'	'	'
Common stock issued to officers and directors	420	'	420	'	'	'
Proceeds from issuances of common stock, net of offering costs, shares	'	27,447,359	'	'	'	'
Proceeds from issuances of common stock, net of offering costs	270,946	274	270,672	'	'	'
Amortization of restricted stock, shares	'	175,092	'	'	'	'
Amortization of restricted stock	562	2	560	'	'	'
Cash dividends	-42,050	'	-42,050	'	'	'
Return of equity to noncontrolling interests	-818	'	'	'	'	-818
Contributions from noncontrolling interests	2,205	'	'	'	'	2,205
Purchase of noncontrolling interests	-9,302	'	-6,507	'	'	-2,795
Adjustments to reflect redeemable noncontrolling interests at fair value	-2,775	'	-2,775	'	'	'
Comprehensive income (loss)	22,431	'	'	24,658	-2,414	187
Ending balance at Sep. 30, 2014	$971,588	$1,424	$1,033,860	($64,306)	($2,414)	$3,024
Ending balance, shares at Sep. 30, 2014	'	142,402,758	'	'	'	'

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Operating activities:	'	'
Net income	$25,051	$2,685
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation and amortization	42,928	33,547
Depreciation included in discontinued operations	0	1,414
Loss on disposal of assets	54	12
Gain on sale of collegiate housing properties	-19,322	-3,895
Noncash rent expense related to the straight-line adjustment for long-term ground leases	3,634	4,024
Loss on impairment of collegiate housing properties	12,734	0
Gain (Loss) on Insurance Settlement	-8,133	'
Loss on extinguishment of debt	892	0
Amortization of deferred financing costs	1,533	1,268
Amortization of unamortized debt premiums	-598	-581
Distributions of earnings from unconsolidated entities	52	59
Noncash compensation expense related to stock-based incentive awards	1,775	1,678
Equity in losses of unconsolidated entities	370	102
Change in operating assets and liabilities (net of acquisitions)	10,310	23,263
Net cash provided by operating activities	71,280	63,576
Investing activities:	'	'
Property acquisitions, net of cash acquired	-132,202	-91,216
Purchase of corporate furniture and fixtures	-759	-623
Restricted cash	-1,229	-4,142
Insurance proceeds received on property losses	2,129	11,124
Investment in collegiate housing properties	-14,676	-12,449
Proceeds from sale of collegiate housing properties	69,000	20,213
Notes receivable	-250	-125
Repayment of notes receivable	18,000	3,000
Earnest money deposits	0	-225
Investment in assets under development	-177,847	-177,674
Investments in unconsolidated entities	-8,342	-8,921
Net cash used in investing activities	-246,176	-261,038
Financing activities:	'	'
Payment of mortgage and construction notes	-95,720	-51,394
Borrowings under mortgage and construction loans	9,751	87,834
Debt issuance costs	-2,183	-2,711
Borrowings under unsecured term loan facility	187,500	0
Debt extinguishment costs	-446	0
Borrowings on line of credit	344,000	214,033
Repayments of line of credit	-490,900	-24,133
Proceeds from issuance of common stock	271,461	16,795
Payment of offering costs	-514	-199
Purchase and return of equity to noncontrolling interests	-10,138	-7,664
Contributions from noncontrolling interests	2,205	1,197
Dividends and distributions paid to common and restricted stockholders	-42,050	-35,380
Dividends and distributions paid to noncontrolling interests	-800	-334
Purchase of stock awards to satisfy tax withholdings	-921	-1,286
Net cash provided by financing activities	171,245	196,758
Net decrease in cash and cash equivalents	-3,651	-704
Cash and cash equivalents, beginning of period	22,073	17,039
Cash and cash equivalents, end of period	18,422	16,335
Supplemental disclosure of cash flow information:	'	'
Interest paid	19,939	17,027
Income taxes paid	121	428
Supplemental disclosure of noncash activities:	'	'
Stock-based compensation	1,775	1,678
Capital expenditures in accounts payable and accrued expenses related to developments	7,670	10,552
Change in fair value of derivative instruments	$2,414	$0

Organization_and_description_o

Organization and description of business	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization and description of business	'
	Organization and description of business
	Education Realty Trust, Inc. (the “Trust”) operates primarily through a majority-owned Delaware limited partnership, Education Realty Operating Partnership, LP (the “Operating Partnership”). The Operating Partnership owns, directly or indirectly, interests in collegiate housing communities located near major universities in the United States.
	The Trust also provides real estate facility management, development and other advisory services through the following subsidiaries of the Operating Partnership:
	•	EDR Management Inc. (“Management Company”), a Delaware corporation performing collegiate housing management activities; and
	•	EDR Development LLC (“Development Company”), a Delaware limited liability company providing development consulting services for third-party collegiate housing communities.

Summary_of_significant_account

Summary of significant accounting policies	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Summary of significant accounting policies	'
	Summary of significant accounting policies
	Basis of presentation and principles of consolidation
	The accompanying condensed consolidated financial statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States (“GAAP”). The accompanying condensed consolidated financial statements of the Trust represent the assets and liabilities and operating results of the Trust and subsidiaries in which the Trust owns a controlling financial interest. All intercompany balances and transactions have been eliminated in the accompanying condensed consolidated financial statements.
	Interim financial information
	The accompanying unaudited interim financial statements include all adjustments, consisting only of normal recurring adjustments that, in the opinion of management, are necessary for a fair presentation of the Trust's financial position, results of operations and cash flows for such periods. Because of the seasonal nature of the business, the operating results and cash flows are not necessarily indicative of results that may be expected for any other interim periods or for the full fiscal year. These financial statements should be read in conjunction with the Trust's consolidated financial statements and related notes included in the Trust's Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the Securities and Exchange Commission (the "SEC") on March 3, 2014, and subsequently amended on April 11, 2014.
	Use of estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
	Cash and cash equivalents
	All highly-liquid investments with a maturity of three months or less when purchased are considered cash equivalents. Restricted cash is excluded from cash and cash equivalents for the purpose of preparing the condensed consolidated balance sheets and statements of cash flows. The Trust maintains cash balances in various banks. At times, the amounts of cash on deposit with certain banks may exceed the amount the Federal Deposit Insurance Corporation (“FDIC”) insures. As of September 30, 2014, the Trust had $8.4 million of cash on deposit that was uninsured by the FDIC or in excess of the FDIC limits.
	Restricted cash
	Restricted cash includes escrow accounts held by lenders for the purpose of paying taxes, insurance, principal and interest and funding capital improvements.
	Notes receivable
	On August 26, 2013, the Trust provided a $0.5 million promissory loan to College Park Apartments, Inc. ("CPA"), the Trust's partner in the unconsolidated joint venture University Village-Greensboro LLC (see Note 3), at an interest rate of 10% per annum and a maturity date of August 1, 2020. Under the loan, CPA can make one draw per calendar quarter and has borrowed $0.4 million as of September 30, 2014. The loan is secured by CPA's interest in the joint venture.
	On July 14, 2010, the Trust entered into definitive agreements for the development, financing and management of a $60.7 million, 20-story, 572-bed graduate collegiate housing complex at the Science + Technology Park at Johns Hopkins Medical Institute. The Trust developed and manages the building, which was constructed on land owned by Johns Hopkins University and leased to a subsidiary of East Baltimore Development, Inc., a nonprofit partnership of private and public entities dedicated to Baltimore’s urban revitalization. Under terms of the agreements, the Trust (a) received development and construction oversight fees and reimbursement of predevelopment expenses, (b) invested in the form of an $18.0 million second mortgage, (c) received a $3.0 million fee for providing a repayment guarantee of the construction first mortgage (see Note 6) and (d) received a 10-year management contract. The second mortgage had a maturity date of July 31, 2040. As of December 31, 2013, the note receivable for the second mortgage had a balance of $18.0 million and is recorded in notes receivable in the accompanying condensed consolidated balance sheet. The Trust did not have an ownership interest in any form that would require consolidation. Due to its financing commitments to the project along with other factors, the Trust deferred recognition of the development services revenue, guarantee fee revenue and interest income earned on the second mortgage until the second mortgage was repaid, and the Trust no longer had a substantial continuing financial involvement. During the quarter ended September 30, 2014, the third party owners closed on permanent financing for the community and used the proceeds to repay the construction first mortgage and second mortgage. As a result, the Trust recognized development services revenue, net of costs, of $2.6 million (including participation in cost savings of $0.8 million), guarantee fee revenue of $3.0 million (reflected in interest income) and interest income on the second mortgage of $6.5 million.
	Collegiate housing properties
	Land, land improvements, buildings and improvements, and furniture, fixtures and equipment are recorded at cost. Buildings and improvements are depreciated over 15 to 40 years, land improvements are depreciated over 15 years and furniture, fixtures, and equipment are depreciated over 3 to 7 years. Depreciation is computed using the straight-line method for financial reporting purposes over the estimated useful life.
	Acquired collegiate housing communities’ results of operations are included in the Trust’s results of operations from the respective dates of acquisition. Appraisals, estimates of cash flows and other valuation techniques are used to allocate the purchase price of acquired property between land, land improvements, buildings and improvements, furniture, fixtures and equipment and identifiable intangibles, such as amounts related to in-place leases. Acquisition costs are expensed as incurred and are included in general and administrative expense in the accompanying condensed consolidated statements of comprehensive income.
	Management assesses impairment of long-lived assets to be held and used whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Management uses an estimate of future undiscounted cash flows of the related asset based on its intended use to determine whether the carrying value is recoverable. If the Trust determines that the carrying value of an asset is not recoverable, the fair value of the asset is estimated and an impairment loss is recorded to the extent the carrying value exceeds estimated fair value. Management estimates fair value using discounted cash flow models, market appraisals if available, and other market participant data. During the three and nine months ended September 30, 2014, the Trust recorded a $1.0 million and $12.7 million loss on impairment of collegiate housing properties, respectively. The impairment losses recorded were related to an impairment recognized in the first quarter of 2014 prior to the sale of a property during the first quarter of 2014 and for two additional properties identified in the second and third quarters that were determined to be impaired due to a change in circumstances that indicated their respective carrying values may not be recoverable. The change in circumstances for the properties could be attributable to changes in property specific market conditions, changes in anticipated future use and/or leasing results or a combination of these factors.
	When a collegiate housing property meets the criteria to be classified as held for sale, the fair value less cost to sell such asset is estimated. If the fair value less cost to sell the asset is less than the carrying amount of the asset, an impairment charge is recorded for the estimated loss. Depreciation expense is no longer recorded once a collegiate housing property has met the held for sale criteria. Operations of collegiate housing properties that were sold or classified as held for sale were recorded as part of discontinued operations prior to January 1, 2014. During the nine months ended September 30, 2013, two properties were classified as discontinued operations in the accompanying condensed consolidated statements of comprehensive income. Both of these properties were sold by December 31, 2013 (see Note 8). Effective January 1, 2014, the Trust adopted Accounting Standards Update No. 2014-08 related to the presentation of discontinued operations. Prospectively, only dispositions that represent a strategic shift in the Trust's business will qualify for treatment as discontinued operations. The property dispositions during the three and nine months ended September 30, 2014 did not qualify for treatment as discontinued operations and, as a result, the operations of the properties are included in continuing operations in the accompanying condensed consolidated statements of comprehensive income. As of September 30, 2014, one property met the held for sale criteria, and it is classified as collegiate housing properties - held for sale, net in the accompanying condensed consolidated balance sheet. This property did not meet the criteria for treatment as discontinued operations under the new guidance and was sold in October 2014 (see Note 12).
	Common stock issuances and offering costs
	Specific incremental costs directly attributable to the issuance of common stock are charged against the gross proceeds of the related issuance. Accordingly, underwriting commissions and other stock issuance costs are reflected as a reduction of additional paid-in capital in the accompanying condensed consolidated statements of changes in equity.
	On October 24, 2014, the Trust entered into three equity distribution agreements pursuant to which the Trust may issue and sell shares of its common stock having an aggregate gross offering amount of up to $150 million (see Note 12). When stock is sold, the Trust intends to use the net proceeds to repay the unsecured revolving credit facility (see Note 4), fund its development pipeline, fund acquisitions and for general corporate purposes.
	On June 24, 2014, the Trust completed a follow-on equity offering of 24.5 million shares of its common stock, which included 3.2 million shares purchased by the underwriters pursuant to an option to purchase additional shares. The Trust received approximately $239.4 million in net proceeds from the offering after deducting the underwriting discount and other offering expenses payable by the Trust. The Trust used the net proceeds to pay down the unsecured revolving credit facility (see Note 4).
	On May 22, 2012, the Trust entered into two equity distribution agreements pursuant to which the Trust could issue and sell shares of its common stock having an aggregate gross offering amount of up to $50 million. As of December 31, 2013, the Trust had sold 1.6 million shares of common stock under the distribution agreements for net proceeds of approximately $17.8 million. The Trust used the net proceeds to repay debt, fund its development pipeline, fund acquisitions and for general corporate purposes. The Trust sold 2.9 million shares under the distribution agreements during the nine months ended September 30, 2014 for net proceeds of approximately $31.5 million.
	On May 19, 2010, the Trust’s stockholders approved the Education Realty Trust, Inc. Employee Stock Purchase Plan (the “ESPP”), which became effective on July 1, 2010. Pursuant to the ESPP, all employees of the Trust are eligible to make periodic purchases of common stock through payroll deductions. Subject to the discretion of the compensation committee of the Board, the purchase price per share of common stock purchased by employees under the ESPP is 85% of the fair market value on the applicable purchase date. The Trust reserved 300,000 shares of common stock for sale under the ESPP. The aggregate cost of the ESPP (generally the 15% discount on the shares purchased) is recorded by the Trust as a period expense. For the nine months ended September 30, 2014 and 2013, total compensation expense relating to the ESPP was $26.1 thousand and $14.4 thousand, respectively. For the three months ended September 30, 2014 and 2013, total compensation expense related to the ESPP was $7.3 thousand and $6.8 thousand, respectively. The compensation expense is recorded in general and administrative expense in the accompanying condensed consolidated statements of comprehensive income.
	Debt premiums
	Differences between the estimated fair value of debt and the principal value of debt assumed in connection with collegiate housing property acquisitions are amortized over the term of the related debt as either an offset or increase to interest expense using the effective interest method. As of September 30, 2014 and December 31, 2013, the Trust had net unamortized debt premiums of $1.7 million and $2.3 million, respectively. These amounts are included in mortgage and construction loans in the accompanying condensed consolidated balance sheets.
	Income taxes
	The Trust qualifies as a REIT under the Code. The Trust is generally not subject to federal, state and local income taxes on any of its taxable income that it distributes if it distributes at least 90% of its REIT taxable income for each tax year to its stockholders and meets certain other requirements. If the Trust fails to qualify as a REIT for any taxable year, the Trust will be subject to federal, state and local income taxes (including any applicable alternative minimum tax) on its taxable income.
	The Trust has elected to treat certain of its subsidiaries, including the Management Company, as taxable REIT subsidiaries (each a “TRS”). A TRS is subject to federal, state and local income taxes. The Management Company provides management services, and through the Development Company, provides development services, which if directly provided by the Trust would jeopardize the Trust’s REIT status. Deferred tax assets and liabilities are recognized based on the difference between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates in effect in the years in which those temporary differences are expected to reverse.
	The Trust had no unrecognized tax benefits as of September 30, 2014 and December 31, 2013. The Trust and its subsidiaries file federal and state income tax returns. As of September 30, 2014, open tax years generally included tax years for 2011, 2012 and 2013. The Trust’s policy is to include interest and penalties related to unrecognized tax benefits in general and administrative expenses. As of September 30, 2014 and December 31, 2013, the Trust had no interest or penalties recorded related to unrecognized tax benefits.
	Noncontrolling interests
	As of September 30, 2014, the Trust had entered into three joint venture agreements to develop, own and manage properties near Arizona State University - Downtown Phoenix (Roosevelt Point), Duke University (605 West) and The University of Louisville (The Retreat at Louisville). The Trust is deemed to be the primary beneficiary of these communities; therefore, the Trust accounts for the joint ventures using the consolidation method of accounting. The Trust's joint venture partners' investments in 605 West met the requirements to be classified outside of permanent equity, and is therefore classified as redeemable noncontrolling interests in the accompanying condensed consolidated balance sheets and net income (loss) attributable to noncontrolling interests in the accompanying condensed consolidated statements of comprehensive income due to the partner's ability to put their ownership interests to the Trust as stipulated in the operating agreements. The Trust's joint venture partners’ investments in the Arizona State University - Downtown Phoenix joint venture and The University of Louisville joint venture are accounted for as noncontrolling interests in the accompanying condensed consolidated balance sheets and statements of changes in equity and net income (loss) attributable to noncontrolling interests in the accompanying condensed consolidated statements of comprehensive income.
	As of December 31, 2013, the Trust had entered into a joint venture agreement to develop, own and manage a collegiate housing property near The University of Mississippi (The Retreat at Oxford). The Trust's joint venture partners’ investment is accounted for as noncontrolling interests in the accompanying condensed consolidated balance sheets and statements of changes in equity and net income (loss) attributable to noncontrolling interests in the accompanying condensed consolidated statements of comprehensive income through August 29, 2014. On August 29, 2014, the Trust purchased its joint venture partner's 30% interest in The Retreat at Oxford for $8.5 million. This collegiate housing property is now wholly owned by the Trust.
	On April 15, 2014, the Trust purchased a portion of its joint venture partner's interest in Roosevelt Point for $0.8 million. As a result of this purchase, the Trust now holds a 95% ownership in the Roosevelt Point collegiate housing property. Additionally, on September 10, 2013, the Trust purchased its joint venture partner's 10% interest in the collegiate housing property referred to as East Edge located near the University of Alabama for $6.9 million and as a result owns 100% of this property.
	The units of limited partnership interest of the Operating Partnership (“Operating Partnership Units”) and units of limited partnership interest of University Towers Operating Partnership, LP (“University Towers Operating Partnership Units”) are also referred to as noncontrolling interests. The Trust follows the guidance issued by the Financial Accounting Standards Board (“FASB”) regarding the classification and measurement of redeemable securities. The Operating Partnership Units and the University Towers Operating Partnership Units are redeemable at the option of the holder and essentially have the same economic characteristics as common stock as they participate in net income and distributions. Accordingly, the Trust has determined that the Operating Partnership Units and the University Towers Operating Partnership Units meet the requirements to be classified outside of permanent equity, and are therefore classified as redeemable noncontrolling interests in the accompanying condensed consolidated balance sheets. Income related to such units are recorded as net income attributable to noncontrolling interests in the accompanying condensed consolidated statements of comprehensive income.
	The following table sets forth the activity with the redeemable noncontrolling interests for the nine months ended September 30, 2014 and 2013 (in thousands):
		2014				2013
	Beginning balance – redeemable noncontrolling interests	$	9,871			$	8,944
	Net income (loss) attributable to redeemable noncontrolling interests	206				(2		)
	Adjustments to report redeemable noncontrolling interests at fair value	2,775				—
	Distributions attributable to redeemable noncontrolling interests	(800		)		(334		)
	Ending balance – redeemable noncontrolling interests	$	12,052			$	8,608
	The value of redeemable noncontrolling interests is reported at the greater of fair value or historical cost at the end of each reporting period. As of September 30, 2014, the Trust reported the redeemable noncontrolling interests at fair value, which was greater than historical cost.
	Earnings per share
	Basic earnings per share is calculated by dividing net earnings available to common stockholders by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share is calculated similarly, except that it includes the dilutive effect of the assumed exercises of potentially dilutive securities. The Trust follows the authoritative guidance regarding the determination of whether certain instruments are participating securities. All unvested share-based awards that contain nonforfeitable rights to dividends or dividend equivalents are included in the computation of earnings per share under the two-class method. This results in shares of unvested restricted stock being included in the computation of basic earnings per share for all periods presented. The following table reconciles the basic and diluted weighted average shares outstanding for the three and nine months ended September 30, 2014 and 2013:
		Nine Months Ended September 30,							Three Months Ended September 30,
		2014			2013				2014	2013
	Basic weighted average shares of common stock outstanding	124,019,046			114,301,779				140,301,433	114,812,694
	Operating Partnership Units	830,343			—		(1)		830,343	—	(1)
	University Towers Operating Partnership Units	207,257			—		(1)		207,257	—	(1)
	Diluted weighted average shares of common stock outstanding	125,056,646			114,301,779				141,339,033	114,812,694
	(1) For the three and nine months ended September 30, 2013, the Operating Partnership Units and University Towers Operating Partnership Units were outstanding, but were not included in the computation of diluted earnings per share because the effects of their inclusion would be anti-dilutive. A reconciliation of the numerators and denominators for the basic and diluted earnings per share computation is not presented, as the Trust reported a loss from continuing operations for the three and nine months ended September 30, 2013, and therefore the effect of the inclusion of all potentially dilutive securities would be anti-dilutive when computing diluted earnings per share; thus, the computation for both basic and diluted earnings per share is the same.
	Goodwill and other intangible assets
	Goodwill is tested annually for impairment as of December 31, and is tested for impairment more frequently if events and circumstances indicate that the assets might be impaired. An impairment loss is recognized to the extent that the carrying value exceeds the asset’s fair value. The accumulated impairment loss recorded by the Trust as of December 31, 2008 was $0.4 million. No additional impairment has been recorded through September 30, 2014. The carrying value of goodwill was $3.1 million as of September 30, 2014 and December 31, 2013, of which $2.1 million was recorded related to the management services segment and $0.9 million was recorded related to the development consulting services segment. Goodwill is not subject to amortization. Other intangible assets generally include in-place leases acquired in connection with acquisitions and are amortized over the estimated life of the lease/contract term. In connection with the acquisition of The District on Apache (see Note 7), the Trust recorded an intangible asset related to in-place leases of $0.6 million. The carrying value of other intangible assets was $0.6 million and $0.8 million as of September 30, 2014 and December 31, 2013, respectively.
	Investment in unconsolidated entities
	The Trust accounts for its investments in unconsolidated joint ventures using the equity method of accounting whereby the carrying value of an investment is adjusted for the Trust’s share of earnings or losses of the respective investment reduced by distributions received by the Trust. The earnings or losses and distributions of the unconsolidated joint ventures are allocated based on each owner’s respective ownership interests. These investments are classified as other assets or accrued expenses, depending on whether the distributions exceed the Trust’s contributions and share of earnings or losses in the joint ventures, in the accompanying condensed consolidated balance sheets (see Note 3).
	Comprehensive income
	The Trust follows the authoritative guidance issued by the FASB relating to the reporting and display of comprehensive income and its components. For all periods presented, comprehensive income includes net income and other comprehensive income (loss) related to the change in fair value of the interest rate swaps (see Note 10).
	Stock-based compensation
	On May 4, 2011, the Trust’s stockholders approved the Education Realty Trust, Inc. 2011 Omnibus Equity Incentive Plan (the “2011 Plan”). The 2011 Plan replaced the Education Realty Trust, Inc. 2004 Incentive Plan (“2004 Plan”) in its entirety. The 2011 Plan is described more fully in Note 9. The Trust recognizes compensation costs related to share-based payments in the accompanying condensed consolidated financial statements in accordance with authoritative guidance.
	Derivative instruments and hedging activities
	The Trust records all derivative financial instruments on the balance sheet at fair value. Changes in fair value are recognized either in earnings or as other comprehensive income (loss), depending on whether the derivative has been designated as a fair value or cash flow hedge and whether it qualifies as part of a hedging relationship, the nature of the exposure being hedged, and how effective the derivative is at offsetting movements in underlying exposure. The Trust discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of a hedged item; the derivative expires or is sold, terminated, or exercised; it is no longer probable that the forecasted transaction will occur; or management determines that designating the derivative as a hedging instrument is no longer appropriate. In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Trust will carry the derivative at its fair value on the balance sheet, recognizing changes in the fair value in current-period earnings. The Trust uses interest rate swaps to effectively convert a portion of its variable rate debt to fixed rate, thus reducing the impact of changes in interest rates on interest payments (see Note 10). These instruments are designated as cash flow hedges and the interest differential to be paid or received is recorded as interest expense.
Recent accounting pronouncements
In August 2014, the FASB issued Accounting Standards Update ("ASU") 2014-15, "Presentation of Financial Statements - Going Concern (Subtopic 205-40)" ("ASU 2014-15"). ASU 2014-15 provides guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Trust does not expect ASU 2014-15 to have a material impact on the Trust's condensed consolidated financial statements.
In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09"). The guidance outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including the guidance on real estate derecognition for most transactions. ASU 2014-09 provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, and interim periods within those years and permits the use of either the retrospective or cumulative effect transition method. The Trust is currently evaluating the provisions of this guidance.
In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360) - Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity" ("ASU 2014-08"). ASU 2014-08 changes the threshold for disclosing discontinued operations and the related disclosure requirements. Pursuant to ASU 2014-08, only disposals representing a strategic shift, such as a major line of business, a major geographical area or a major equity investment, should be presented as a discontinued operation. The guidance is to be applied prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. ASU 2014-08 is effective for annual periods beginning on or after December 15, 2014 with early adoption permitted. The Trust adopted ASU 2014-08 as of January 1, 2014.
In February 2013, the FASB issued ASU 2013-04, "Liabilities (Topic 405)" ("ASU 2013-04"), which updated the guidance related to Liabilities to provide guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date. ASU 2013-04 requires the entity to measure these obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The updated guidance also requires an entity to disclose the nature and amount of the obligation as well as certain other information. The guidance is effective for financial statements issued for fiscal years and interim periods beginning after December 15, 2013. The adoption did not have a material impact on the Trust's condensed consolidated financial statements.

Investments_in_unconsolidated_

Investments in unconsolidated entities	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Investments in unconsolidated entities	'
	Investments in unconsolidated entities
	During the nine months ended September 30, 2014, the Trust had investments in the following unconsolidated joint ventures that are accounted for under the equity method of accounting:
	•	1313 5th Street MN Holdings, LLC, a Delaware limited liability company, 50% owned by the Operating Partnership;
	•	West Clayton Athens GA Owner, LLC, a Delaware limited liability company, 50% owned by the Operating Partnership;
	•	Elauwit Networks, a South Carolina limited liability company, 10% owned by the Operating Partnership; and
	•	University Village-Greensboro LLC, a Delaware limited liability company, 25% owned by the Operating Partnership.
	During the nine months ended September 30, 2013, the Trust had investments in the following unconsolidated joint ventures that are accounted for under the equity method of accounting:
	•	1313 5th Street MN Holdings, LLC, a Delaware limited liability company, 50% owned by the Operating Partnership;
	•	Joint investment in land, 50% owned by the Operating Partnership;
	•	Elauwit Networks, a South Carolina limited liability company, 10% owned by the Operating Partnership; and
	•	University Village-Greensboro LLC, a Delaware limited liability company, 25% owned by the Operating Partnership.
	The Trust participates in major operating decisions of, but does not control, these entities; therefore, the equity method of accounting is used to account for these investments. The following is a summary of financial information for the Trust’s unconsolidated joint ventures for the nine months ended September 30, 2014 and 2013 (in thousands):
		2014			2013
	Revenues	$	22,006		$	2,706
	Net loss	(1,246		)	(408		)
	Trust's equity in losses of unconsolidated entities	(370		)	(102		)
	As of September 30, 2014 and December 31, 2013, the Trust had $29.0 million and $21.2 million, respectively, of investments in unconsolidated entities classified in other assets in the accompanying condensed consolidated balance sheets. As of September 30, 2014 and December 31, 2013, the Trust had $1.6 million and $1.7 million, respectively, in liabilities related to investments in unconsolidated entities where distributions exceeded contributions and equity in earnings and the Trust has historically provided financial support; therefore, these investments are classified in accrued expenses in the accompanying condensed consolidated balance sheets.

Debt

Debt	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Debt	'
	Debt
	Revolving credit facility
	On January 14, 2013, the Operating Partnership entered into a Fourth Amended and Restated Credit Agreement and, on October 24, 2013, entered into the First Amendment to the agreement which increased the maximum facility from $375.0 million to $500.0 million (as amended, the "Fourth Amended Revolver"). The Fourth Amended Revolver also has an accordion feature to $700.0 million, which may be exercised during the first four years subject to satisfaction of certain conditions. The initial maturity date of the Fourth Amended Revolver is January 14, 2018, and the Operating Partnership may extend the maturity date for one year subject to certain conditions.
	Availability under the Fourth Amended Revolver is limited to a “borrowing base availability” equal to the lesser of (i) 60% of the property asset value (as defined in the credit agreement) and (ii) the loan amount, which would produce a debt service coverage ratio of no less than 1.40. As of September 30, 2014, the borrowing base availability was $500.0 million, and the Operating Partnership had $210.0 million outstanding under the Fourth Amended Revolver; thus, the remaining borrowing base availability was $290.0 million.
	The Trust serves as the guarantor for any funds borrowed by the Operating Partnership under the Fourth Amended Revolver. The interest rate per annum applicable to the Fourth Amended Revolver is, at the Operating Partnership’s option, equal to a base rate or the London InterBank Offered Rate (“LIBOR”) plus an applicable margin based upon our leverage. As of September 30, 2014, the effective interest rate applicable to the Fourth Amended Revolver was 1.46%.
	The Fourth Amended Revolver contains customary affirmative and negative covenants and contains financial covenants that, among other things, require the Trust and its subsidiaries to maintain certain minimum ratios of EBITDA (earnings before payment or charges of interest, taxes, depreciation, amortization or extraordinary items) as compared to interest expense and total fixed charges. The financial covenants also include consolidated net worth and leverage ratio tests, and the Trust is prohibited from making distributions in excess of 95% of funds from operations except to comply with the legal requirements to maintain its status as a REIT. As of September 30, 2014, the Trust was in compliance with all covenants of the Fourth Amended Revolver.
	Unsecured term loan facility
	On January 13, 2014, the Operating Partnership and certain of its subsidiaries (together with the Operating Partnership, the “Borrowers”), each of which is an indirectly owned subsidiary of the Trust, entered into a credit agreement (the "Credit Agreement"), which provides for unsecured term loans in the initial aggregate principal amount of $187.5 million, consisting of a $122.5 million Tranche A term loan with a seven-year maturity (the “Tranche A Term Loan”) and a $65.0 million Tranche B term loan with a five-year maturity (the “Tranche B Term Loan” and, together with the Tranche A Term Loan, the “Term Loans”). The Tranche A Term Loan matures on January 13, 2021 and the Tranche B Term Loan matures on January 13, 2019. The Credit Agreement contains an accordion feature pursuant to which the Borrowers may request that the total aggregate amount of the Term Loans be increased to $250.0 million, which may be allocated to Tranche A or Tranche B, subject to certain conditions, including obtaining commitments from any one or more lenders to provide such additional commitments. The Trust used proceeds from the Term Loan to repay a portion of the outstanding balance under the Fourth Amended Revolver.
	The interest rate per annum on the Tranche A Term Loan is, at the Borrowers’ option, equal to a base rate or LIBOR plus an applicable margin ranging from 155 to 225 basis points. The interest rate per annum on the Tranche B Term Loan is, at the Borrowers’ option, equal to a base rate or LIBOR plus an applicable margin ranging from 120 to 190 basis points. The applicable margin for the Term Loans is based on leverage.
	The Credit Agreement contains customary affirmative and restrictive covenants substantially similar to those contained in the Trust’s Fourth Amended Revolver. The Trust serves as the guarantor for any funds borrowed by the Borrowers under the Credit Agreement. As of September 30, 2014, the Trust was in compliance with all covenants of the Credit Agreement.
	In connection with entering into the Credit Agreement, the Trust entered into multiple interest rate swaps with notional amounts totaling $187.5 million to hedge the interest payments on the LIBOR-based Term Loans (see Note 10). As of September 30, 2014, the effective interest rate on the Tranche A Term Loan was 3.85% (weighted average swap rate of 2.30% plus the current margin of 1.55%) and the effective interest rate on the Tranche B Term Loan was 2.86% (weighted average swap rate of 1.66% plus the current margin of 1.20%).
	Mortgage and construction debt
	Master Secured Credit Facility
	The Trust has a credit facility with Fannie Mae (the "Master Secured Credit Facility") that was entered into on December 31, 2008 and expanded on December 2, 2009. All notes under the Master Secured Credit Facility contain cross-default provisions, and all properties securing the notes are cross-collateralized. The Trust was in compliance with all financial covenants, including consolidated net worth and liquidity tests, contained in the Master Secured Credit Facility as of September 30, 2014. As of September 30, 2014 and December 31, 2013, the Trust had $160.4 million and $169.7 million, respectively, of mortgage loans outstanding under the Master Secured Credit Facility bearing interest at a weighted average fixed interest rate of 5.91%.
	Mortgage debt
	As of September 30, 2014, the Trust had outstanding mortgage indebtedness of $81.1 million (excluding an unamortized debt premium of $1.7 million). Of the total mortgage debt outstanding at September 30, 2014, $47.1 million relates to mortgage debt bearing interest at fixed rates ranging from 4.2% to 5.6% and $34.0 million relates to mortgage debt bearing interest at variable rates at a weighted average effective interest rate of 2.29%. The mortgage debt outstanding is secured by underlying collegiate housing properties.
	In February 2014, the Trust repaid in full variable rate mortgage debt of $35.7 million that was assumed in connection with the 2011 acquisition of the GrandMarc at Westberry Place collegiate housing community located at Texas Christian University. The interest rate was equal to a base rate plus a 4.85% margin, and the loan was scheduled to mature on January 1, 2020. In connection with this repayment, the Trust recognized a $0.6 million loss on extinguishment of debt.
	On July 1, 2014, in connection with the sale of Pointe West collegiate housing community located at University of South Carolina, the Trust repaid a mortgage debt of $9.5 million in full. The interest rate was equal to 4.92% and the mortgage debt was scheduled to mature on August 1, 2014.
	On July 14, 2014, the Trust repaid $7.2 million of mortgage debt that was part of the Master Secured Credit Facility. The interest rate was 4.96% and the mortgage debt was scheduled to mature on January 1, 2015. Simultaneously with the sale of The Reserve on South College, the community was released from the Master Secured Credit Facility (see Note 8). In connection with this pay off, the Trust recognized a $0.1 million loss on extinguishment of debt.
	Construction loans
	As of September 30, 2014, the Trust had construction loans outstanding of $60.5 million related to the following collegiate housing developments: The Retreat serving the University of Mississippi and Roosevelt Point serving Arizona State University - Downtown Phoenix Campus. Interest on these construction loans is at variable rates at a weighted average effective interest rate of 2.22%.
	In April 2014, the Trust repaid in full variable rate construction debt with an outstanding principal balance of $32.3 million related to the development of The Oaks on the Square (Phase I and II). The effective interest rate was equal to 2.41% and the loan was scheduled to mature on October 30, 2015.
	On September 30, 2014, the Trust repaid in full variable rate construction debt with an outstanding balance of $8.2 million related to the development of The Oaks on the Square (Phase III) serving the University of Connecticut. The effective interest rate was equal to2.10% and the loan was scheduled to mature on September 11, 2017. In connection with this pay off, the Trust recognized a $0.1 million loss on extinguishment of debt.
	On July 9, 2014, the Trust entered into a construction loan agreement related to the development of a jointly owned cottage-style community located in Louisville, Kentucky (The Retreat at Louisville). The Trust is the majority owner and will the manage the community once it is completed. The interest rate per year applicable to the loan is, at the option of the Trust, equal to a base rate plus a 1.05% margin or LIBOR plus a 2.05% margin and is interest only though July 10, 2017. On July 10, 2017, if certain conditions are met, the Trust has the option to extend the loan until July 9, 2018 and another year thereafter. During the extension periods, if applicable, principal and interest are to be repaid on a monthly basis. As of September 30, 2014, there were no amounts outstanding under the construction loan.
	In connection with the acquisition of The Varsity serving the University of Michigan during the year ended December 31, 2013, the Trust assumed a construction loan in the amount of $32.4 million. The interest rate per year applicable to the loan is equal to LIBOR plus a 2.25% margin and is interest only through August 1, 2015. As of September 30, 2014, the effective interest rate applicable to the loan was 2.40%. On August 1, 2015, if certain conditions for extension are met, the Trust has the option to extend the loan until August 1, 2017. During the extension period, if applicable, principal and interest are to be repaid on a monthly basis.
	The scheduled maturities of outstanding mortgage and construction indebtedness as of September 30, 2014 are as follows (in thousands):
	Fiscal Year Ending December 31,
	2014 (3 months ending December 31, 2014)	$	896
	2015	96,983
	2016	124,672
	2017	39,068
	2018	1,635
	Thereafter	71,166
	Total	334,420
	Debt premium	1,694
	Outstanding as of September 30, 2014, net of unamortized debt premium	$	336,114
	As of September 30, 2014, the outstanding mortgage and construction debt had a weighted average effective interest rate of 4.39% and carried a weighted average term of 2.04 years.

Segments

Segments	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Segments	'
	Segments
	The Trust defines business segments by their distinct customer base and service provided. The Trust has identified three reportable segments: collegiate housing leasing, development consulting services and management services. Management evaluates each segment’s performance based on net operating income, which is defined as income before depreciation, amortization, ground leases, impairment losses, interest expense (income), gains on insurance settlements, gains (losses) on extinguishment of debt, gains (losses) on sale of collegiate housing properties, income taxes, equity in earnings (losses) of unconsolidated entities, noncontrolling interests and discontinued operations. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. Intercompany fees are reflected at the contractually stipulated amounts.
	The following tables represent the Trust’s segment information for the three and nine months ended September 30, 2014 and 2013 (in thousands):
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Collegiate Housing Leasing:
		Collegiate housing leasing revenue	$	47,657		$	39,550		$	144,677		$	116,338
		Collegiate housing leasing operating expenses	26,920			23,847			70,062			59,430
		Net operating income	$	20,737		$	15,703		$	74,615		$	56,908
		Total segment assets at end of period (1)	$	1,750,705		$	1,473,665		$	1,750,705		$	1,473,665
	Development Consulting Services:
		Third-party development consulting services revenue	$	3,705		$	839		$	5,264		$	1,989
		General and administrative expenses	692			533			1,922			1,396
		Net operating income	$	3,013		$	306		$	3,342		$	593
		Total segment assets at end of period(2)	$	4,941		$	6,097		$	4,941		$	6,097
	Management Services:
		Third-party management services revenue	$	1,052		$	918		$	2,856		$	2,710
		General and administrative expenses	630			623			1,933			1,898
		Net operating income	$	422		$	295		$	923		$	812
		Total segment assets at end of period(2)	$	9,106		$	10,965		$	9,106		$	10,965
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Reconciliations:
		Segment revenue	$	52,414		$	41,307		$	152,797		$	121,037
		Operating expense reimbursements	2,290			2,162			6,492			8,141
		Total revenues	$	54,704		$	43,469		$	159,289		$	129,178
		Segment operating expenses	$	28,242		$	25,003		$	73,917		$	62,724
		Reimbursable operating expenses	2,290			2,162			6,492			8,141
		Total operating expenses	$	30,532		$	27,165		$	80,409		$	70,865
		Segment net operating income	$	24,172		$	16,304		$	78,880		$	58,313
	The following is a reconciliation of the reportable segments’ net operating income to the Trust’s consolidated income (loss) before income taxes, discontinued operations and gain on sale of collegiate housing properties for the three and nine months ended September 30, 2014 and 2013 (in thousands):
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
		Segment net operating income	$	24,172		$	16,304		$	78,880		$	58,313
		Other unallocated general and administrative expenses	(4,437		)	(2,379		)	(10,629		)	(7,623		)
		Depreciation and amortization	(14,688		)	(11,387		)	(42,928		)	(33,548		)
		Ground lease	(2,329		)	(1,833		)	(6,162		)	(5,631		)
		Loss on impairment of collegiate housing properties	(953		)	—			(12,734		)	—
		Nonoperating income (expenses)	12,393			(4,878		)	270			(13,374		)
		Equity in losses of unconsolidated entities	(236		)	(61		)	(370		)	(102		)
		Income (loss) before income taxes, discontinued operations and gain on sale of collegiate housing properties	$	13,922		$	(4,234	)	$	6,327		$	(1,965	)
	(1) The increase in segment assets related to collegiate housing leasing is primarily related to the opening of seven new properties and two property acquisitions in 2014 and continued development of five communities for ownership by the Trust.
	(2) Total segment assets also include goodwill of $2,149 related to the management services and $921 related to devleopment consulting services.

Commitments_and_contingencies

Commitments and contingencies	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and contingencies	'
	Commitments and contingencies
	In April 2013, the Trust entered into a presale agreement with a private developer that obligated the Trust to purchase a newly developed collegiate housing community adjacent to Florida International University for $43.5 million as long as the developer completed the project in time for fall 2014 occupancy. The Trust closed on the acquisition of this property in August 2014 (see Note 7).
	In July 2012, the collegiate housing community located in St. Louis, Missouri was partially destroyed by a fire. The community was rebuilt and fully reopened in August 2013. This fire caused substantial business interruption and property damage, both of which were covered under the Trust's insurance policies. For the nine months ended September 30, 2014 and 2013, the Trust recognized business interruption proceeds of $0.1 million and $1.6 million, respectively. For the three months ended September 30, 2014 and 2013, the Trust recognized business interruption proceeds of nil and $0.6 million, respectively. These amounts are included in collegiate housing leasing revenues in the accompanying condensed consolidated statements of comprehensive income. During the three months ended September 30, 2014, the insurance claims were settled and the Trust recognized a gain on insurance proceeds of $8.1 million in the accompanying condensed consolidated statements of comprehensive income.
	The Operating Partnership serves as non-recourse, carve-out guarantor for secured third-party debt in the amount of $23.7 million, held by one unconsolidated joint venture. The loan is scheduled to mature on July 1, 2020. The Operating Partnership is liable to the lender for any loss, damage, cost, expense, liability, claim or other obligation incurred by the lender arising out of or in connection with certain non-recourse exceptions in connection with the debt. Pursuant to the respective operating agreement, the joint venture partner agreed to indemnify, defend and hold harmless the Trust with respect to such obligations, except to the extent such obligations were caused by the willful misconduct, gross negligence, fraud or bad faith of the Operating Partnership or its employees, agents or affiliates. Therefore, exposure under the guarantee for obligations not caused by the willful misconduct, gross negligence, fraud or bad faith of the Operating Partnership or its employees, agents or affiliates is not expected to exceed the Operating Partnership’s proportionate interest in the related mortgage debt of $5.9 million.
	The Operating Partnership, along with a joint venture partner, have jointly and severally guaranteed partial repayment for secured third-party construction debt held by one unconsolidated joint venture under development. The maturity date of the construction loan is December 31, 2015, with an option to extend the maturity date to December 31, 2016, provided certain conditions for extension are met. On December 31, 2016, the joint venture has the ability to further extend the maturity date to December 31, 2017, provided certain conditions for extension are met. The partial repayment guaranty for the construction debt is limited to $8.8 million. In addition, the Operating Partnership serves as a non-recourse, carve-out guarantor for the secured third-party debt and is liable to the lender for any loss, damage, cost, expense, liability, claim or other obligation incurred by the lender arising out of or in connection with certain non-recourse exceptions in connection with the debt. Pursuant to the respective operating agreement, the joint venture partner agreed to indemnify, defend and hold harmless the Trust with respect to such obligations, except to the extent such obligations were caused by the willful misconduct, gross negligence, fraud or bad faith of the Operating Partnership or its employees, agents or affiliates. Therefore, exposure under the guaranties for obligations not caused by the willful misconduct, gross negligence, fraud or bad faith of the Operating Partnership or its employees, agents or affiliates are not expected to exceed the Operating Partnership's proportionate interest in the related mortgage debt in the case of the non-recourse, carve-out guaranty, or in the Operating Partnership's proportionate interest in the partial repayment guaranty of $8.8 million. As of September 30, 2014 and December 31, 2013, the joint venture had $50.8 million and $13.1 million outstanding, respectively, on the construction loans.
	The Operating Partnership, along with a joint venture partner, have jointly and severally guaranteed partial repayment for secured third-party construction debt held by one unconsolidated joint venture under development. The maturity date of the construction loan is May 2, 2017, with an option to extend the maturity date to May 2, 2018, provided certain conditions for extension are met. On May 2, 2018, the joint venture has the ability to further extend the maturity date to May 2, 2019, provided certain conditions for extension are met. The partial repayment guaranty for the construction debt is limited to $7.2 million. In addition, the Operating Partnership serves as a non-recourse, carve-out guarantor for the secured third-party debt and is liable to the lender for any loss, damage, cost, expense, liability, claim or other obligation incurred by the lender arising out of or in connection with certain non-recourse exceptions in connection with the debt. Pursuant to the joint venture's operating agreement, our joint venture partner agreed to indemnify, defend and hold harmless the Trust with respect to such obligations, except to the extent such obligations were caused by the willful misconduct, gross negligence, fraud or bad faith of the Operating Partnership or its employees, agents or affiliates. Therefore, exposure under the guaranties for obligations not caused by the willful misconduct, gross negligence, fraud or bad faith of the Operating Partnership or its employees, agents or affiliates are not expected to exceed the Operating Partnership's proportionate interest in the related mortgage debt in the case of the non-recourse, carve-out guaranty, or in the Operating Partnership's proportionate interest in the partial repayment guaranty of $7.2 million. As of September 30, 2014, the joint venture had not drawn on the construction loan.
	In connection with the development agreement entered into on July 14, 2010 for a project at the Science + Technology Park at Johns Hopkins Medical Institute (see Note 2), the Trust committed to provide a guarantee of repayment of a $42.0 million third-party construction loan for a $3.0 million fee, of which the carrying value approximated fair value. On July 1, 2014, the third-party owners refinanced the construction loan and the Trust was released from the guarantee obligations. The Trust collected and recognized the $3.0 million guarantee fee during the three months ended September 30, 2014.
	In connection with the condominium agreement related to The Oaks on the Square project in Storrs, Connecticut (see Note 4) the Operating Partnership and LeylandAlliance LLC jointly committed to provide a guarantee of repayment of a $46.4 million construction loan to develop the residential and retail portions of the first two phases of the project. As of December 31, 2013, $43.2 million had been drawn on the construction loan of which $11.8 million was attributable to LeylandAlliance LLC; this amount is not included in our accompanying condensed consolidated financial statements. On April 1, 2014, the construction loan for the first two phases of the project was repaid in full and the Trust was released from the guarantee obligations of the construction loan.
	During August 2013, the Operating Partnership and LeylandAlliance LLC entered into a $13.8 million construction loan for the third phase of the The Oaks on the Square project. Similar to the construction loan for the first two phases, the Operating Partnership and LeylandAlliance LLC jointly committed to provide a guarantee of repayment for the construction loan. As of December 31, 2013, $1.3 million had been drawn on the construction loan, of which $1.0 million, is attributable to LeylandAlliance LLC; these amounts are not included in our accompanying condensed consolidated financial statements. On September 30, 2014, the construction loan for the third phase of the project was repaid in full and the Trust was released from the related guarantee obligations.
	As owners and operators of real estate, environmental laws impose ongoing compliance requirements on the Trust. The Trust is not aware of any environmental matters or liabilities with respect to the collegiate housing communities that would have a material adverse effect on the Trust’s consolidated financial condition or results of operations.
	In the normal course of business, the Trust is subject to claims, lawsuits and legal proceedings. While it is not possible to ascertain the ultimate outcome of such matters, in management’s opinion, the liabilities, if any, are not expected to have a material effect on our financial position, results of operations or liquidity.
	Under the terms of the limited partnership agreement of University Towers Operating Partnership, LP, so long as the contributing owners of such property hold at least 25% of the University Towers Partnership Units, the Trust has agreed to maintain certain minimum amounts of debt on the property to avoid triggering a taxable gain to the contributing owners. If the Trust fails to do this, the Trust must repay the contributing owners the amount of taxes they incur.
	After being awarded a development consulting contract, the Trust will enter into predevelopment consulting contracts with educational institutions to develop collegiate housing communities on their behalf. The Trust will enter into reimbursement agreements that provide for the Trust to be reimbursed for the predevelopment costs incurred prior to the institution’s governing body formally approving the final development contract. As of September 30, 2014 and December 31, 2013, the Trust had reimbursable predevelopment costs of $1.7 million and $1.6 million, respectively, which are reflected in other assets in the accompanying condensed consolidated balance sheets.

Acquisition_and_development_of

Acquisition and development of real estate investments	9 Months Ended
	Sep. 30, 2014
Real Estate [Abstract]	'
Acquisition and development of real estate investments	'
	Acquisition and development of real estate investments
	During the three months ended September 30, 2014, the Trust completed the following two collegiate housing property acquisitions:
	Name		Primary University Served		Acquisition		# of Beds			# of Units			Contract Price (in thousands)
					Date
	109 Tower		Florida International University Miami, Florida		Aug-14		542			149			$	43,500
	District on Apache		Arizona State University Tempe, Arizona		Sep-14		900			279			$	89,800
	Combined acquisition costs for these purchases were $0.9 million and are included in general and administrative expenses in the accompanying condensed consolidated statement of comprehensive income for the three months ended September 30, 2014. The Trust funded these acquisitions with proceeds from draws on the Fourth Amended Revolver (see Note 4) and cash on hand. Due to the timing of the completion of the acquisitions, work is still ongoing to determine the fair value of those assets and liabilities as of the acquisition date. The purchase price allocation is expected to be finalized by December 31, 2014.  A preliminary allocation of the purchase price to the fair values of assets acquired and liabilities assumed as of the dates of the acquisitions are as follows (in thousands):
			109 Tower				District on Apache				Total
	Collegiate housing properties		$	43,384			$	89,216			$	132,600
	Goodwill and other intangibles, net		—				643				643
	Other assets		200				36				236
	Current liabilities		(746		)		(1,341		)		(2,087		)
	Total net assets acquired		$	42,838			$	88,554			$	131,392
	The difference between the collegiate housing property acquisition contract prices of $133.3 million and the total net assets acquired of $131.4 million is primarily due to $1.9 million of net liabilities assumed.
	The actual revenue and net income since the acquisition and the unaudited pro forma revenue and net income had the acquisition date been January 1, 2013, are as follows:
		Revenue				Net				Net income attributable to common stockholders per share - basic and diluted
						income
		(in thousands)
	Actual from date of acquisition – 9/30/14	$	1,030			$	52			$	—
	2014 supplemental proforma for 1/1/14 – 9/30/14 (1)	$	165,458			$	28,383			$	0.23
	2013 supplemental proforma for 1/1/13 – 9/30/13 (1)	$	130,576			$	3,014			$	0.03
	(1) Supplemental pro forma earnings for the nine months ended September 30, 2014 were adjusted to exclude $0.4 million of acquisition-related costs incurred during the nine months ended September 30, 2014. Supplemental pro forma earnings for the nine months ended September 30, 2013 were adjusted to include these charges. As 109 Tower opened for the 2014/2015 lease year, the supplemental pro forma revenue and net income for the period January 1, 2013 - September 30, 2013 only includes The District on Apache. In addition, as The District on Apache opened for the 2013/2014 lease year, the supplemental pro forma revenue and net income for January 1, 2013 to September 30, 2013 does not include a full year of operations.
	During the year ended December 31, 2013, the Trust completed the following three collegiate housing property acquisitions:
	Name		Primary University Served		Acquisition		# of Beds			# of Units			Contract Price (in thousands)
					Date
	The Cottages on Lindberg		Purdue University West Lafayette, Indiana		Aug-13		745			193			$36,000
	The Retreat at State College		Pennsylvania State University State College, Pennsylvania		Sep-13		587			138			$56,189
	The Varsity		University of Michigan Ann Arbor, Michigan		Dec-13		415			181			$53,950
	Combined acquisition costs for these purchases were $0.4 million. The Trust funded these acquisitions with assumed debt of $32.4 million and proceeds from draws on the Trust's Fourth Amended Revolver. A summary follows of the fair values of the assets acquired and the liabilities assumed as of the dates of the acquisitions (in thousands):
		The Cottages on Lindberg				The Retreat at State College				The Varsity				Total
	Collegiate housing properties	$	35,704			$	55,812			$	53,630			$	145,146
	Other assets	347				442				481				1,270
	Current liabilities	(689		)		(405		)		(449		)		(1,543		)
	Mortgage debt	—				—				(32,420		)		(32,420		)
	Total net assets acquired	$	35,362			$	55,849			$	21,242			$	112,453
	The difference between the collegiate housing property acquisition contract prices of $146.1 million and the total net assets acquired of $112.5 million is $1.2 million of net assets purchased or liabilities assumed and $32.4 million of assumed debt (see Note 4).
	The actual revenue and net income since the acquisition and the unaudited pro forma revenue and net income had the acquisition date been January 1, 2013, are as follows:
		Revenue				Net				Net income attributable to common stockholders per share - basic and diluted
						income
		(in thousands)
	Actual from date of acquisition – 9/30/13	$	719			$	400			$	—
	2013 supplemental pro forma for 1/1/13 – 9/30/13(1)	$	132,100			$	3,004			$	0.03
	(1) Supplemental pro forma earnings for the nine months ended September 30, 2013 were adjusted to exclude $0.2 million of acquisition-related costs incurred in 2013.
	Development of collegiate housing properties
	In June 2014, the Trust announced an agreement with a subsidiary of Landmark Property Holdings, LLC ("Landmark") to develop, own and manage a new 656-bed cottage-style collegiate housing property adjacent to The University of Louisville. The Trust is the majority owner and managing member of the joint venture and will manage the community once completed. As of September 30, 2014, the Trust and Landmark have incurred minimal costs for the project. The community is expected to open in the summer of 2015.
	In March 2013, the Trust announced an agreement with Javelin 19 Investments, LLC ("Javelin 19") to develop, own and manage a new collegiate housing property near Duke University, 605 West. The Trust is the majority owner and managing member of the joint venture and manages the community, which opened in August 2014. As of September 30, 2014, the Trust and Javelin 19 had incurred $44.6 million in costs for the project. During the nine months ended September 30, 2014 and 2013, the Trust capitalized interest costs of $0.6 million and $0.2 million, respectively, and internal development project costs of approximately $0.1 million for both periods related to the development. During the three months ended September 30, 2014 and 2013, the Trust capitalized interest costs of $0.2 million and $0.1 million, respectively, and internal development project costs of $11.7 thousand and $18.8 thousand, respectively. For a period of five years from the date on which the property receives its initial certificate of occupancy, Javelin 19 has the right to require the Trust to purchase Javelin 19’s 10% interest in the joint venture at a price to be determined.
	In December 2011, the Trust was selected by the University of Kentucky to develop, own and manage new collegiate housing on its campus. This project will be financed through the Trust’s On-Campus Equity Plan, or the ONE Plan SM. As of September 30, 2014, the Trust had incurred $52.9 million in costs for the 2014, 2015 and 2016 deliveries. Phase I opened in August 2013, Phase II opened for the 2014-2015 lease year, Phase II-B is expected to open in the summer of 2015 and the 2016 deliveries are expected to open in the summer of 2016. During the nine months ended September 30, 2014 and 2013, the Trust capitalized interest costs of $2.9 million and $1.0 million, respectively, and internal development costs of $0.8 million and $0.6 million, respectively, related to the developments. During the three months ended September 30, 2014 and 2013, the Trust capitalized interest costs of $1.1 million and $0.5 million, respectively, and internal development project costs of $0.3 million for both periods.
	In November 2011, the Trust purchased a collegiate housing property near the University of Colorado, Boulder (The Lotus). The Trust developed additional housing on the existing land, which opened for the 2014/2015 lease year. As of September 30, 2014, the Trust had incurred $21.1 million in project costs. During the nine months ended September 30, 2014 and 2013, the Trust capitalized interest costs of $0.3 million and $73.8 thousand, respectively, and internal development project costs of $0.1 million and $65.9 thousand, respectively, related to the development. During the three months ended September 30, 2014 and 2013, the Trust capitalized interest costs of $0.1 million and $37.2 thousand, respectively, and internal development project costs of $33.7 thousand and $23.7 thousand, respectively.
	In September of 2010, LeylandAlliance LLC and the Trust entered into an agreement to develop the first two phases of Storrs Center, a mixed-use town center project, adjacent to the University of Connecticut. The Trust developed, owns and manages the collegiate housing properties in these first two phases and both phases include commercial and residential offerings. The first phase opened in August 2012 and the second phase opened in August 2013. LeylandAlliance LLC and the Trust subsequently entered into additional agreements to develop the third and fourth phases of the project. As of September 30, 2014, the Trust had incurred $19.8 million in project costs for the third and fourth phases. During the nine months ended September 30, 2014 and 2013, the Trust capitalized interest costs of $90.5 thousand and $0.6 million, respectively, and capitalized internal development project costs of approximately $0.1 million and $15.8 thousand, respectively, related to the developments. During the three months ended September 30, 2014 and 2013, the Trust capitalized interest costs of $18.5 thousand and $0.1 million, respectively, and internal development project costs of $0.1 million and $4.7 thousand, respectively. The third phase opened in August 2014 and the fourth phase is scheduled to be completed in the summer of 2015.
	All costs related to the development of collegiate housing communities are classified as assets under development in the accompanying condensed consolidated balance sheets until the community is completed and opened.

Disposition_of_real_estate_inv

Disposition of real estate investments and discontinued operations	9 Months Ended
	Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Disposition of real estate investments and discontinued operations	'
	Disposition of real estate investments and discontinued operations
	During the nine months ended September 30, 2014, the Trust sold The Reserve on West 31st collegiate housing community located in Lawrence, Kansas, the College Station at West Lafayette collegiate housing community located in West Lafayette, Indiana, the Pointe West collegiate housing community located in Cayce, South Carolina and The Reserve on South College collegiate housing community located in Auburn, Alabama for a combined sales price of $71.7 million, and received proceeds of $52.2 million, after payoffs of mortgage debt of $16.7 million (see Note 4) and closing costs. The Trust recognized a $19.3 million gain on these dispositions. Two of these properties were sold during the three months ended September 30, 2014, resulting in a gain of $8.4 million.
	On December 19, 2013, the Trust sold The Pointe at Western collegiate housing community located in Kalamazoo, Michigan for a sales price of $21.0 million. The Trust received proceeds of $20.0 million after closing costs. On June 19, 2013, the also Trust sold the College Grove collegiate housing community located in Murfreesboro, Tennessee for a price of $20.7 million. The Trust received proceeds of $20.2 million after prorations and closing costs. The Trust recognized a $3.9 million gain on the 2013 dispositions, which is reflected in discontinued operations.
	As discussed in Note 2, the Trust early adopted the accounting guidance related to the presentation of discontinued operations as of January 1, 2014. The four property dispositions in 2014 discussed above and any subsequent one-off dispositions are not expected to qualify for treatment as discontinued operations unless the dispositions qualify as a strategic shift in the Trust's business pursuant to ASU 2014-08. The historical operations of all four 2014 property dispositions are presented in continuing operations for all periods presented as the adoption of the guidance is on a prospective basis. Accordingly, the results of operations of the two property dispositions during 2013 are included in discontinued operations in the accompanying condensed consolidated statements of comprehensive income for the three and nine months ended September 30, 2013.
	The following table summarizes the income from discontinued operations, net of noncontrolling interests, for the three and nine months ended September 30, 2013 (in thousands):
		Three months ended September 30, 2013			Nine months ended September 30, 2013
	Collegiate housing leasing revenue	$	729		$	4,470
	Collegiate housing leasing operating expenses	(681		)	(2,571		)
	Depreciation and amortization	(327		)	(1,414		)
	Interest income	—			1
	Noncontrolling interests	2			(3		)
	Income from discontinued operations attributable to Education Realty Trust, Inc.	(278		)	483
	Gain on sale of collegiate housing properties	—			3,895
	Noncontrolling interests	—			(28		)
	Gain on sale of collegiate housing properties attributable to Education Realty Trust, Inc.	—			3,867
	Income from discontinued operations, net of noncontrolling interests	$	(278	)	$	4,350

Incentive_plans

Incentive plans	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Incentive plans	'
	Incentive plans
	On May 4, 2011, the stockholders approved the Education Realty Trust, Inc. 2011 Omnibus Equity Incentive Plan (the “2011 Plan”). The purpose of the 2011 Plan is to promote the interests of the Trust and its stockholders by attracting, motivating and retaining talented executive officers, employees and directors of the Trust and linking their compensation to the long-term interests of the Trust and its stockholders. The 2011 Plan replaced the Education Realty Trust, Inc. 2004 Incentive Plan (“2004 Plan”) in its entirety and authorizes the grant of the 315,000 shares that remained available for grant under the 2004 plan, as well as 3,147,500 additional shares. As of September 30, 2014, the Trust had 2,464,889 shares of its common stock reserved for issuance pursuant to the 2011 Plan. Automatic increases in the number of shares available for issuance are not provided. The 2011 Plan provides for the grant of stock options, restricted stock, restricted stock units (“RSUs”), stock appreciation rights, other stock-based incentive awards to employees, directors and other key persons providing services to the Trust.
	A restricted stock award is an award of the Trust’s common stock that is subject to restrictions on transferability and other restrictions as the Trust’s compensation committee determines in its sole discretion on the date of grant. The restrictions may lapse over a specified period of employment or the satisfaction of pre-established criteria as the compensation committee may determine. Except to the extent restricted under the award agreement, a participant awarded restricted stock will have all of the rights of a stockholder as to those shares, including, without limitation, the right to vote and the right to receive dividends or distributions on the shares. Restricted stock is generally taxed at the time of vesting. As of September 30, 2014 and December 31, 2013, unearned compensation related to restricted stock totaled $0.9 million and $0.8 million, respectively, and will be recorded as expense over the applicable vesting period. The value is determined based on the market value of the Trust’s common stock on the grant date. During the nine months ended September 30, 2014 and 2013, compensation expense of $0.5 million and $0.7 million, respectively, was recognized related to the vesting of restricted stock. During the three months ended September 30, 2014 and 2013, the Trust recognized compensation expense of $0.2 million for both periods related to the vesting of restricted stock. These amounts are included in general and administrative expenses in the accompanying condensed consolidated statements of comprehensive income. Effective January 1, 2014 and January 1, 2013, the Trust adopted the 2014 Long-Term Incentive Plan (the "2014 LTIP") and the 2013 Long-Term Incentive Plan (the "2013 LTIP"), respectively. The purpose of the 2014 LTIP and 2013 LTIP is to attract, retain and motivate the executive officers and certain key employees of the Trust to promote the long-term growth and profitability of the Trust. On January 1, 2014 and 2013, the Trust issued 74,233 and 65,791, respectively, of time vested restricted stock to executives and key employees under the 2014 LTIP and 2013 LTIP. Additional shares were issued in August 2014 pursuant to the 2014 LTIP. The restricted stock granted under the 2014 LTIP and the 2013 LTIP will vest ratably over three years as long as the participants remain employed by the Trust.
	An RSU award is an award that will vest based upon the Trust’s achievement of total stockholder returns at specified levels as compared to the average total stockholder returns of a peer group of companies and/or the National Association of Real Estate Investment Trusts Equity Index over three years (the “Performance Period”). At the end of the Performance Period, the compensation committee of the Board will determine the level and the extent to which the performance goal was achieved. RSUs that satisfy the performance goal will be converted into fully-vested shares of the Trust’s common stock and the Trust will receive a tax deduction for the compensation expense at the time of vesting. Prior to vesting, the participants are not eligible to vote or receive dividends or distributions on the RSUs. On January 1, 2014, the Trust granted 306,914 performance vested RSUs to executives and key employees under the 2014 LTIP described above. On January 1, 2013, the Trust granted a total of 122,180 performance vested RSUs to executives and key employees under the 2013 LTIP described above. As of September 30, 2014 and December 31, 2013, unearned compensation related to RSUs totaled $1.8 million and $0.9 million, respectively, and will be recorded as expense over the applicable vesting period. The value was determined using a Monte Carlo simulation technique. During the nine months ended September 30, 2014 and 2013, compensation expense of $1.0 million and $0.7 million, respectively, was recognized related to the vesting of RSUs. During the three months ended September 30, 2014 and 2013, compensation expense of $0.3 million and $0.2 million, respectively, was recognized related to the vesting of RSUs. These amounts are included in general and administrative expenses in the accompanying condensed consolidated statements of comprehensive income. On January 1, 2014, 203,250 of fully-vested shares of common stock were issued pursuant to the vesting of RSUs granted in 2011.
	Pursuant to the terms of a Separation Agreement and Release Agreement (the “Separation Agreement”), dated as of May 12, 2014, between Randall H. Brown and the Trust, Mr. Brown resigned his employment as Chief Financial Officer effective June 30, 2014. In accordance with the Separation Agreement, all unvested shares of time-vested restricted stock granted to Mr. Brown under the Trust’s long term incentive plan fully vested on June 30, 2014; the Trust settled these shares in cash. In addition, the Trust reversed all previously recorded compensation expense related to unvested RSUs granted to Mr. Brown under the 2012 LTIP, 2013 LTIP and 2014 LTIP plans in the aggregate amount of $0.2 million, the impact of which is recorded in general and administrative expenses in the accompanying condensed consolidated statements of comprehensive income.
	Total stock-based compensation recognized in general and administrative expense in the accompanying condensed consolidated statements of comprehensive income for the nine months ended September 30, 2014 and 2013 was $1.7 million for both periods.
	A summary of the stock-based incentive plan activity is as follows:
		Restricted Stock			Weighted-Average Grant Date Fair Value Per Restricted Stock Award		RSU Awards		Weighted-Average Grant Date Fair Value Per RSU
		Awards
	Outstanding as of December 31, 2013	184,023		(1)	$	8.96	390,275		$	6.78
	Granted	77,833			8.9		306,916		6.4
	Vested	(73,429	)		8.85		(143,354	)	8.82
	Surrendered	(41,997	)		8.95		(113,103	)	8.82
	Outstanding as of September 30, 2014	146,430		(1)	$	9.17	440,734		$	6.86
	-1	Represents unvested shares of restricted stock awards as of the date indicated.

Derivatives_and_Hedging_Activi

Derivatives and Hedging Activities	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivatives and Hedging Activities	'
	Derivatives and Hedging Activities
	Cash Flow Hedges of Interest Rate Risk
	The Trust’s objectives in using interest rate derivatives are to add stability to interest expense and to manage its exposure to interest rate movements. To accomplish this objective, the Trust primarily uses interest rate swaps as part of its interest rate risk management strategy. During the nine months ended September 30, 2014, such derivatives were used to hedge the variable cash flows associated with existing variable-rate debt. As of September 30, 2014, the Trust had six outstanding interest rate swaps with a combined notional of $187.5 million that were designated as cash flow hedges of interest rate risk. The counter-parties are major financial institutions.
	The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges is recorded in accumulated other comprehensive loss and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. The ineffective portion of the change in fair value of the derivatives, which is immaterial for all periods presented, is recognized directly in earnings. During the next twelve months, the Trust estimates that an additional $3.6 million will be reclassified to earnings as an increase to interest expense. As of September 30, 2014, the fair value of the derivatives of $2.4 million was included in accrued expenses in the accompanying condensed consolidated balance sheet.
	The following table discloses the effect of the derivative instruments on the condensed consolidated statement of comprehensive income for the nine months ended September 30, 2014 (in thousands):
	Derivatives in Cash Flow Hedging Relationships	Amount of Loss Recognized in OCI on Derivative (Effective Portion)			Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)
	Interest rate contracts	$	(5,021	)	Interest expense	$	2,607
	The following table discloses the effect of the derivative instruments on the condensed consolidated statement of comprehensive income for the three months ended September 30, 2014 (in thousands):
	Derivatives in Cash Flow Hedging Relationships	Amount of Gain Recognized in OCI on Derivative (Effective Portion)			Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)
	Interest rate contracts	$	423		Interest expense	$	919
	The above contracts are subject to enforceable master netting arrangements that provide a right of offset with each counterparty; however, no offsetting positions exist due to certain duplicate terms across all contracts. Therefore, the derivatives are not subject to offset in the condensed consolidated balance sheets.
	Credit-risk-related Contingent Features
	The Trust has agreements with each of its derivative counterparties that contain a provision where if the Trust defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Trust could also be declared in default on its derivative obligations. In addition, the Trust has agreements with each of its derivative counterparties that contain a provision where the Trust could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Trust's default on the indebtedness.
	As of September 30, 2014, the fair value of derivatives related to these agreements, which includes accrued interest, but excludes any adjustment for nonperformance risk, was a liability of $2.7 million. As of September 30, 2014, the Trust has not posted any collateral related to these agreements. If the Trust had breached any of these provisions at September 30, 2014, it could have been required to settle its obligations under the agreements at their termination value of $2.6 million.

Fair_Value_of_Financial_Instru

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	The Trust follows the guidance contained in FASB Accounting Standards Codification 820, Fair Value Measurements and Disclosures ("ASC 820"). Fair value is generally defined as the exit price at which an asset or liability could be exchanged in a current transaction between willing unrelated parties, other than in a forced liquidation or sale. ASC 820 establishes a fair value hierarchy, giving the highest priority to quoted prices in active markets and the lowest priority to unobservable data, and requires disclosures for assets and liabilities measured at fair value based on their level in the hierarchy.
	The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions used to value the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. The three levels are defined as follows:
	•	Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date.
	•	Level 2 - Observable inputs other than those included in Level 1, for example, quoted prices for similar assets or liabilities in active markets or quoted prices for identical assets or liabilities in inactive markets.
	•	Level 3 - Unobservable inputs reflecting management's own assumption about the inputs used in pricing the asset or liability at the measurement date.
	Non-financial assets measured at fair value on a nonrecurring basis consist of real estate assets and investments in partially owned entities that have been written-down to estimated fair value when it has been determined that asset values are not recoverable. The Trust estimates fair value relating to impairment assessments based upon an income capitalization approach (which considers prevailing market capitalization rates and operations of the community) or the negotiated sales price, if applicable. Based upon the inputs used to value properties under the income capitalization approach, the Trust determined that valuations under this method are classified within Level 3 of its fair value hierarchy. For the communities for which the estimated fair value was based on negotiated sales prices, the Trust determined that its valuation was classified within Level 2 of the fair value hierarchy.
	One non-financial asset impaired during the nine months ended September 30, 2014 was also disposed of during the period. The table below summarizes non-financial assets that were impaired during the nine months ended September 30, 2014 and remained on the accompanying condensed consolidated balance sheet as of September 30, 2014 (in thousands):
					Estimated Fair Value
			Carrying value		Level 1		Level 2		Level 3
	Collegiate housing properties, net		$	21,781	$	—	$	21,781	$	—
	Currently, the Trust uses interest rate swaps to manage its interest rate risk. The valuation of these instruments is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves.
	To comply with the provisions of ASC 820, the Trust incorporates credit valuation adjustments to appropriately reflect both its nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of the Trust's derivative contracts for the effect of nonperformance risk, the Trust has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees.
	Although the Trust has determined that the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by itself and its counterparties. The Trust has determined that the significance of the impact of the credit valuation adjustments made to its derivative contracts, which determination was based on the fair value of each individual contract, was not significant to the overall valuation. As a result, all of the Trust's derivatives held as of September 30, 2014 were classified as Level 2 of the fair value hierarchy.
	The table below presents the Trust's assets and liabilities measured at fair value on a recurring basis as of September 30, 2014, aggregated by the level in the fair value hierarchy within which those measurements fall. There were no assets and liabilities measured at fair value on a recurring basis as of December 31, 2013. The table below summarizes the carrying amounts and fair values of these financial instruments as of September 30, 2014 (in thousands):
					Estimated Fair Value
			Carrying value		Level 1		Level 2		Level 3
	Derivative financial instruments (liability position)		$	2,414	$	—	$	2,414	$	—
	Deferred compensation plan assets		486		486		—		—
	Financial assets and liabilities that are not measured at fair value in our consolidated financial statements include mezzanine notes receivable and debt. Estimates of the fair values of these instruments are based on the Trust's assessments of available market information and valuation methodologies, including discounted cash flow analyses. The table below summarizes the carrying amounts and fair values of these financial instruments as of September 30, 2014 and December 31, 2013 (in thousands):
			30-Sep-14
					Estimated Fair Value
			Carrying value		Level 1		Level 2		Level 3
	Mezzanine notes receivable		$	375	$	—	$	313	$	—
	Unsecured revolving credit facility		210,000		—		210,000		—
	Unsecured term loan facility		187,500		—		187,500		—
	Variable rate mortgage and construction loans		126,895		—		126,895		—
	Fixed rate mortgage and construction loans		207,525		—		226,080		—
			31-Dec-13
					Estimated Fair Value
			Carrying value		Level 1		Level 2		Level 3
	Mezzanine notes receivable		$	18,125	$	—	$	19,330	$	—
	Unsecured revolving credit facility		356,900		—		356,900		—
	Variable rate mortgage and construction loans		193,381		—		193,381		—
	Fixed rate mortgage and construction loans		227,009		—		239,162		—
	The Trust discloses the fair value of financial instruments for which it is practicable to estimate. The Trust considers the carrying amounts of cash and cash equivalents, restricted cash, student contracts receivable, accounts payable and accrued expenses to approximate fair value due to the short maturity of these instruments. The carrying value of restricted cash approximates its fair value based on the nature of our assessment of the ability to recover these amounts.

Subsequent_events

Subsequent events	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
Subsequent events	'
	Subsequent events
	The Trust's Board declared a quarterly distribution of $0.12 per share of common stock for the three months ended September 30, 2014. The distribution will be paid on November 15, 2014 to stockholders of record at the close of business on October 31, 2014.
	In October 2014, the Trust completed the sale of The Pointe at South Florida collegiate housing community serving the University of South Florida for a sales price of $31.0 million and received net proceeds of $29.7 million. This property was considered held for sale at September 30, 2014, and EROP expects to recognize a gain of approximately $2.3 million in the fourth quarter of 2014.
	During October 2014, the Operating Partnership and LeylandAlliance LLC entered into a $38.0 million construction loan for the fourth phase of the The Oaks on the Square project. The interest rate per year applicable to the loan is, at the option of the Trust, equal to a base rate plus a 1.0% margin or LIBOR plus a 2.0% margin and is interest only though October 20, 2017. On October 21, 2017, if certain conditions are met, the Trust has the option to extend the loan until October 19, 2018 and another year thereafter. During the extension periods, if applicable, principal and interest are to be repaid on a monthly basis. Similar to the construction loan for the first three phases, the Operating Partnership and LeylandAlliance LLC have jointly committed to provide a guarantee of repayment for the construction loan.
	On October 24, 2014, the Trust entered into three equity distribution agreements pursuant to which the Trust may issue and sell shares of its common stock having an aggregate gross offering amount of up to $150 million. When stock is sold, the Trust intends to use the net proceeds to repay the unsecured revolving credit facility (see Note 4), fund its development pipeline, fund acquisitions and for general corporate purposes.

Summary_of_significant_account1

Summary of significant accounting policies (Policies)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Basis of presentation and principles of consolidation	'
	Basis of presentation and principles of consolidation
	The accompanying condensed consolidated financial statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States (“GAAP”). The accompanying condensed consolidated financial statements of the Trust represent the assets and liabilities and operating results of the Trust and subsidiaries in which the Trust owns a controlling financial interest. All intercompany balances and transactions have been eliminated in the accompanying condensed consolidated financial statements.
Interim financial reporting	'
	Interim financial information
	The accompanying unaudited interim financial statements include all adjustments, consisting only of normal recurring adjustments that, in the opinion of management, are necessary for a fair presentation of the Trust's financial position, results of operations and cash flows for such periods. Because of the seasonal nature of the business, the operating results and cash flows are not necessarily indicative of results that may be expected for any other interim periods or for the full fiscal year. These financial statements should be read in conjunction with the Trust's consolidated financial statements and related notes included in the Trust's Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the Securities and Exchange Commission (the "SEC") on March 3, 2014, and subsequently amended on April 11, 2014.
Use of estimates	'
	Use of estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Cash and cash equivalents	'
	Cash and cash equivalents
	All highly-liquid investments with a maturity of three months or less when purchased are considered cash equivalents. Restricted cash is excluded from cash and cash equivalents for the purpose of preparing the condensed consolidated balance sheets and statements of cash flows. The Trust maintains cash balances in various banks. At times, the amounts of cash on deposit with certain banks may exceed the amount the Federal Deposit Insurance Corporation (“FDIC”) insures.
Restricted cash	'
	Restricted cash
	Restricted cash includes escrow accounts held by lenders for the purpose of paying taxes, insurance, principal and interest and funding capital improvements.
Notes receivable	'
	Notes receivable
	On August 26, 2013, the Trust provided a $0.5 million promissory loan to College Park Apartments, Inc. ("CPA"), the Trust's partner in the unconsolidated joint venture University Village-Greensboro LLC (see Note 3), at an interest rate of 10% per annum and a maturity date of August 1, 2020. Under the loan, CPA can make one draw per calendar quarter and has borrowed $0.4 million as of September 30, 2014. The loan is secured by CPA's interest in the joint venture.
	On July 14, 2010, the Trust entered into definitive agreements for the development, financing and management of a $60.7 million, 20-story, 572-bed graduate collegiate housing complex at the Science + Technology Park at Johns Hopkins Medical Institute. The Trust developed and manages the building, which was constructed on land owned by Johns Hopkins University and leased to a subsidiary of East Baltimore Development, Inc., a nonprofit partnership of private and public entities dedicated to Baltimore’s urban revitalization. Under terms of the agreements, the Trust (a) received development and construction oversight fees and reimbursement of predevelopment expenses, (b) invested in the form of an $18.0 million second mortgage, (c) received a $3.0 million fee for providing a repayment guarantee of the construction first mortgage (see Note 6) and (d) received a 10-year management contract. The second mortgage had a maturity date of July 31, 2040. As of December 31, 2013, the note receivable for the second mortgage had a balance of $18.0 million and is recorded in notes receivable in the accompanying condensed consolidated balance sheet. The Trust did not have an ownership interest in any form that would require consolidation. Due to its financing commitments to the project along with other factors, the Trust deferred recognition of the development services revenue, guarantee fee revenue and interest income earned on the second mortgage until the second mortgage was repaid, and the Trust no longer had a substantial continuing financial involvement. During the quarter ended September 30, 2014, the third party owners closed on permanent financing for the community and used the proceeds to repay the construction first mortgage and second mortgage. As a result, the Trust recognized development services revenue, net of costs, of $2.6 million (including participation in cost savings of $0.8 million), guarantee fee revenue of $3.0 million (reflected in interest income) and interest income on the second mortgage of $6.5 million.
Collegiate housing properties	'
	Collegiate housing properties
	Land, land improvements, buildings and improvements, and furniture, fixtures and equipment are recorded at cost. Buildings and improvements are depreciated over 15 to 40 years, land improvements are depreciated over 15 years and furniture, fixtures, and equipment are depreciated over 3 to 7 years. Depreciation is computed using the straight-line method for financial reporting purposes over the estimated useful life.
	Acquired collegiate housing communities’ results of operations are included in the Trust’s results of operations from the respective dates of acquisition. Appraisals, estimates of cash flows and other valuation techniques are used to allocate the purchase price of acquired property between land, land improvements, buildings and improvements, furniture, fixtures and equipment and identifiable intangibles, such as amounts related to in-place leases. Acquisition costs are expensed as incurred and are included in general and administrative expense in the accompanying condensed consolidated statements of comprehensive income.
	Management assesses impairment of long-lived assets to be held and used whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Management uses an estimate of future undiscounted cash flows of the related asset based on its intended use to determine whether the carrying value is recoverable. If the Trust determines that the carrying value of an asset is not recoverable, the fair value of the asset is estimated and an impairment loss is recorded to the extent the carrying value exceeds estimated fair value. Management estimates fair value using discounted cash flow models, market appraisals if available, and other market participant data. During the three and nine months ended September 30, 2014, the Trust recorded a $1.0 million and $12.7 million loss on impairment of collegiate housing properties, respectively. The impairment losses recorded were related to an impairment recognized in the first quarter of 2014 prior to the sale of a property during the first quarter of 2014 and for two additional properties identified in the second and third quarters that were determined to be impaired due to a change in circumstances that indicated their respective carrying values may not be recoverable. The change in circumstances for the properties could be attributable to changes in property specific market conditions, changes in anticipated future use and/or leasing results or a combination of these factors.
	When a collegiate housing property meets the criteria to be classified as held for sale, the fair value less cost to sell such asset is estimated. If the fair value less cost to sell the asset is less than the carrying amount of the asset, an impairment charge is recorded for the estimated loss. Depreciation expense is no longer recorded once a collegiate housing property has met the held for sale criteria. Operations of collegiate housing properties that were sold or classified as held for sale were recorded as part of discontinued operations prior to January 1, 2014. During the nine months ended September 30, 2013, two properties were classified as discontinued operations in the accompanying condensed consolidated statements of comprehensive income. Both of these properties were sold by December 31, 2013 (see Note 8). Effective January 1, 2014, the Trust adopted Accounting Standards Update No. 2014-08 related to the presentation of discontinued operations. Prospectively, only dispositions that represent a strategic shift in the Trust's business will qualify for treatment as discontinued operations. The property dispositions during the three and nine months ended September 30, 2014 did not qualify for treatment as discontinued operations and, as a result, the operations of the properties are included in continuing operations in the accompanying condensed consolidated statements of comprehensive income. As of September 30, 2014, one property met the held for sale criteria, and it is classified as collegiate housing properties - held for sale, net in the accompanying condensed consolidated balance sheet. This property did not meet the criteria for treatment as discontinued operations under the new guidance and was sold in October 2014 (see Note 12).
Common stock issuances and offering costs	'
	Common stock issuances and offering costs
	Specific incremental costs directly attributable to the issuance of common stock are charged against the gross proceeds of the related issuance. Accordingly, underwriting commissions and other stock issuance costs are reflected as a reduction of additional paid-in capital in the accompanying condensed consolidated statements of changes in equity.
	On October 24, 2014, the Trust entered into three equity distribution agreements pursuant to which the Trust may issue and sell shares of its common stock having an aggregate gross offering amount of up to $150 million (see Note 12). When stock is sold, the Trust intends to use the net proceeds to repay the unsecured revolving credit facility (see Note 4), fund its development pipeline, fund acquisitions and for general corporate purposes.
	On June 24, 2014, the Trust completed a follow-on equity offering of 24.5 million shares of its common stock, which included 3.2 million shares purchased by the underwriters pursuant to an option to purchase additional shares. The Trust received approximately $239.4 million in net proceeds from the offering after deducting the underwriting discount and other offering expenses payable by the Trust. The Trust used the net proceeds to pay down the unsecured revolving credit facility (see Note 4).
	On May 22, 2012, the Trust entered into two equity distribution agreements pursuant to which the Trust could issue and sell shares of its common stock having an aggregate gross offering amount of up to $50 million. As of December 31, 2013, the Trust had sold 1.6 million shares of common stock under the distribution agreements for net proceeds of approximately $17.8 million. The Trust used the net proceeds to repay debt, fund its development pipeline, fund acquisitions and for general corporate purposes. The Trust sold 2.9 million shares under the distribution agreements during the nine months ended September 30, 2014 for net proceeds of approximately $31.5 million.
	On May 19, 2010, the Trust’s stockholders approved the Education Realty Trust, Inc. Employee Stock Purchase Plan (the “ESPP”), which became effective on July 1, 2010. Pursuant to the ESPP, all employees of the Trust are eligible to make periodic purchases of common stock through payroll deductions. Subject to the discretion of the compensation committee of the Board, the purchase price per share of common stock purchased by employees under the ESPP is 85% of the fair market value on the applicable purchase date. The Trust reserved 300,000 shares of common stock for sale under the ESPP. The aggregate cost of the ESPP (generally the 15% discount on the shares purchased) is recorded by the Trust as a period expense. For the nine months ended September 30, 2014 and 2013, total compensation expense relating to the ESPP was $26.1 thousand and $14.4 thousand, respectively. For the three months ended September 30, 2014 and 2013, total compensation expense related to the ESPP was $7.3 thousand and $6.8 thousand, respectively. The compensation expense is recorded in general and administrative expense in the accompanying condensed consolidated statements of comprehensive income.
Debt premiums	'
	Debt premiums
	Differences between the estimated fair value of debt and the principal value of debt assumed in connection with collegiate housing property acquisitions are amortized over the term of the related debt as either an offset or increase to interest expense using the effective interest method.
Income taxes	'
	Income taxes
	The Trust qualifies as a REIT under the Code. The Trust is generally not subject to federal, state and local income taxes on any of its taxable income that it distributes if it distributes at least 90% of its REIT taxable income for each tax year to its stockholders and meets certain other requirements. If the Trust fails to qualify as a REIT for any taxable year, the Trust will be subject to federal, state and local income taxes (including any applicable alternative minimum tax) on its taxable income.
	The Trust has elected to treat certain of its subsidiaries, including the Management Company, as taxable REIT subsidiaries (each a “TRS”). A TRS is subject to federal, state and local income taxes. The Management Company provides management services, and through the Development Company, provides development services, which if directly provided by the Trust would jeopardize the Trust’s REIT status. Deferred tax assets and liabilities are recognized based on the difference between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates in effect in the years in which those temporary differences are expected to reverse.
	The Trust had no unrecognized tax benefits as of September 30, 2014 and December 31, 2013. The Trust and its subsidiaries file federal and state income tax returns. As of September 30, 2014, open tax years generally included tax years for 2011, 2012 and 2013. The Trust’s policy is to include interest and penalties related to unrecognized tax benefits in general and administrative expenses. As of September 30, 2014 and December 31, 2013, the Trust had no interest or penalties recorded related to unrecognized tax benefits.
Noncontrolling interests	'
	Noncontrolling interests
	As of September 30, 2014, the Trust had entered into three joint venture agreements to develop, own and manage properties near Arizona State University - Downtown Phoenix (Roosevelt Point), Duke University (605 West) and The University of Louisville (The Retreat at Louisville). The Trust is deemed to be the primary beneficiary of these communities; therefore, the Trust accounts for the joint ventures using the consolidation method of accounting. The Trust's joint venture partners' investments in 605 West met the requirements to be classified outside of permanent equity, and is therefore classified as redeemable noncontrolling interests in the accompanying condensed consolidated balance sheets and net income (loss) attributable to noncontrolling interests in the accompanying condensed consolidated statements of comprehensive income due to the partner's ability to put their ownership interests to the Trust as stipulated in the operating agreements. The Trust's joint venture partners’ investments in the Arizona State University - Downtown Phoenix joint venture and The University of Louisville joint venture are accounted for as noncontrolling interests in the accompanying condensed consolidated balance sheets and statements of changes in equity and net income (loss) attributable to noncontrolling interests in the accompanying condensed consolidated statements of comprehensive income.
	As of December 31, 2013, the Trust had entered into a joint venture agreement to develop, own and manage a collegiate housing property near The University of Mississippi (The Retreat at Oxford). The Trust's joint venture partners’ investment is accounted for as noncontrolling interests in the accompanying condensed consolidated balance sheets and statements of changes in equity and net income (loss) attributable to noncontrolling interests in the accompanying condensed consolidated statements of comprehensive income through August 29, 2014. On August 29, 2014, the Trust purchased its joint venture partner's 30% interest in The Retreat at Oxford for $8.5 million. This collegiate housing property is now wholly owned by the Trust.
	On April 15, 2014, the Trust purchased a portion of its joint venture partner's interest in Roosevelt Point for $0.8 million. As a result of this purchase, the Trust now holds a 95% ownership in the Roosevelt Point collegiate housing property. Additionally, on September 10, 2013, the Trust purchased its joint venture partner's 10% interest in the collegiate housing property referred to as East Edge located near the University of Alabama for $6.9 million and as a result owns 100% of this property.
	The units of limited partnership interest of the Operating Partnership (“Operating Partnership Units”) and units of limited partnership interest of University Towers Operating Partnership, LP (“University Towers Operating Partnership Units”) are also referred to as noncontrolling interests. The Trust follows the guidance issued by the Financial Accounting Standards Board (“FASB”) regarding the classification and measurement of redeemable securities. The Operating Partnership Units and the University Towers Operating Partnership Units are redeemable at the option of the holder and essentially have the same economic characteristics as common stock as they participate in net income and distributions. Accordingly, the Trust has determined that the Operating Partnership Units and the University Towers Operating Partnership Units meet the requirements to be classified outside of permanent equity, and are therefore classified as redeemable noncontrolling interests in the accompanying condensed consolidated balance sheets. Income related to such units are recorded as net income attributable to noncontrolling interests in the accompanying condensed consolidated statements of comprehensive income.
	The following table sets forth the activity with the redeemable noncontrolling interests for the nine months ended September 30, 2014 and 2013 (in thousands):
		2014			2013
	Beginning balance – redeemable noncontrolling interests	$	9,871		$	8,944
	Net income (loss) attributable to redeemable noncontrolling interests	206			(2		)
	Adjustments to report redeemable noncontrolling interests at fair value	2,775			—
	Distributions attributable to redeemable noncontrolling interests	(800		)	(334		)
	Ending balance – redeemable noncontrolling interests	$	12,052		$	8,608
	The value of redeemable noncontrolling interests is reported at the greater of fair value or historical cost at the end of each reporting period. As of September 30, 2014, the Trust reported the redeemable noncontrolling interests at fair value, which was greater than historical cost.
Earnings per share	'
	Earnings per share
	Basic earnings per share is calculated by dividing net earnings available to common stockholders by the weighted average number of shares of common stock outstanding during the applicable period. Diluted earnings per share is calculated similarly, except that it includes the dilutive effect of the assumed exercises of potentially dilutive securities. The Trust follows the authoritative guidance regarding the determination of whether certain instruments are participating securities. All unvested share-based awards that contain nonforfeitable rights to dividends or dividend equivalents are included in the computation of earnings per share under the two-class method. This results in shares of unvested restricted stock being included in the computation of basic earnings per share for all periods presented.
Goodwill and other intangible assets	'
	Goodwill and other intangible assets
	Goodwill is tested annually for impairment as of December 31, and is tested for impairment more frequently if events and circumstances indicate that the assets might be impaired. An impairment loss is recognized to the extent that the carrying value exceeds the asset’s fair value. The accumulated impairment loss recorded by the Trust as of December 31, 2008 was $0.4 million. No additional impairment has been recorded through September 30, 2014. The carrying value of goodwill was $3.1 million as of September 30, 2014 and December 31, 2013, of which $2.1 million was recorded related to the management services segment and $0.9 million was recorded related to the development consulting services segment. Goodwill is not subject to amortization. Other intangible assets generally include in-place leases acquired in connection with acquisitions and are amortized over the estimated life of the lease/contract term.
Investment in unconsolidated entities	'
	Investment in unconsolidated entities
	The Trust accounts for its investments in unconsolidated joint ventures using the equity method of accounting whereby the carrying value of an investment is adjusted for the Trust’s share of earnings or losses of the respective investment reduced by distributions received by the Trust. The earnings or losses and distributions of the unconsolidated joint ventures are allocated based on each owner’s respective ownership interests. These investments are classified as other assets or accrued expenses, depending on whether the distributions exceed the Trust’s contributions and share of earnings or losses in the joint ventures, in the accompanying condensed consolidated balance sheets (see Note 3).
Comprehensive income	'
	Comprehensive income
	The Trust follows the authoritative guidance issued by the FASB relating to the reporting and display of comprehensive income and its components. For all periods presented, comprehensive income includes net income and other comprehensive income (loss) related to the change in fair value of the interest rate swaps (see Note 10).
Stock based compensation	'
	Stock-based compensation
	On May 4, 2011, the Trust’s stockholders approved the Education Realty Trust, Inc. 2011 Omnibus Equity Incentive Plan (the “2011 Plan”). The 2011 Plan replaced the Education Realty Trust, Inc. 2004 Incentive Plan (“2004 Plan”) in its entirety. The 2011 Plan is described more fully in Note 9. The Trust recognizes compensation costs related to share-based payments in the accompanying condensed consolidated financial statements in accordance with authoritative guidance.
Derivative instruments and hedging activities	'
	Derivative instruments and hedging activities
	The Trust records all derivative financial instruments on the balance sheet at fair value. Changes in fair value are recognized either in earnings or as other comprehensive income (loss), depending on whether the derivative has been designated as a fair value or cash flow hedge and whether it qualifies as part of a hedging relationship, the nature of the exposure being hedged, and how effective the derivative is at offsetting movements in underlying exposure. The Trust discontinues hedge accounting when it determines that the derivative is no longer effective in offsetting changes in the fair value or cash flows of a hedged item; the derivative expires or is sold, terminated, or exercised; it is no longer probable that the forecasted transaction will occur; or management determines that designating the derivative as a hedging instrument is no longer appropriate. In all situations in which hedge accounting is discontinued and the derivative remains outstanding, the Trust will carry the derivative at its fair value on the balance sheet, recognizing changes in the fair value in current-period earnings. The Trust uses interest rate swaps to effectively convert a portion of its variable rate debt to fixed rate, thus reducing the impact of changes in interest rates on interest payments (see Note 10). These instruments are designated as cash flow hedges and the interest differential to be paid or received is recorded as interest expense.
Recent accounting pronouncements	'
	Recent accounting pronouncements
	In August 2014, the FASB issued Accounting Standards Update ("ASU") 2014-15, "Presentation of Financial Statements - Going Concern (Subtopic 205-40)" ("ASU 2014-15"). ASU 2014-15 provides guidance on management’s responsibility in evaluating whether there is substantial doubt about a company’s ability to continue as a going concern and related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. ASU 2014-15 is effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. Early application is permitted. The Trust does not expect ASU 2014-15 to have a material impact on the Trust's condensed consolidated financial statements.
	In May 2014, the FASB issued ASU 2014-09, "Revenue from Contracts with Customers (Topic 606)" ("ASU 2014-09"). The guidance outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including the guidance on real estate derecognition for most transactions. ASU 2014-09 provides that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU 2014-09 is effective for annual reporting periods beginning after December 15, 2016, and interim periods within those years and permits the use of either the retrospective or cumulative effect transition method. The Trust is currently evaluating the provisions of this guidance.
	In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360) - Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity" ("ASU 2014-08"). ASU 2014-08 changes the threshold for disclosing discontinued operations and the related disclosure requirements. Pursuant to ASU 2014-08, only disposals representing a strategic shift, such as a major line of business, a major geographical area or a major equity investment, should be presented as a discontinued operation. The guidance is to be applied prospectively to new disposals and new classifications of disposal groups as held for sale after the effective date. ASU 2014-08 is effective for annual periods beginning on or after December 15, 2014 with early adoption permitted. The Trust adopted ASU 2014-08 as of January 1, 2014.
	In February 2013, the FASB issued ASU 2013-04, "Liabilities (Topic 405)" ("ASU 2013-04"), which updated the guidance related to Liabilities to provide guidance for the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date. ASU 2013-04 requires the entity to measure these obligations as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The updated guidance also requires an entity to disclose the nature and amount of the obligation as well as certain other information. The guidance is effective for financial statements issued for fiscal years and interim periods beginning after December 15, 2013. The adoption did not have a material impact on the Trust's condensed consolidated financial statements.

Summary_of_significant_account2

Summary of significant accounting policies (Tables)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Redeemable Noncontrolling Interests	'
	The following table sets forth the activity with the redeemable noncontrolling interests for the nine months ended September 30, 2014 and 2013 (in thousands):
		2014				2013
	Beginning balance – redeemable noncontrolling interests	$	9,871			$	8,944
	Net income (loss) attributable to redeemable noncontrolling interests	206				(2		)
	Adjustments to report redeemable noncontrolling interests at fair value	2,775				—
	Distributions attributable to redeemable noncontrolling interests	(800		)		(334		)
	Ending balance – redeemable noncontrolling interests	$	12,052			$	8,608
Reconciliation of Basic and Diluted Weighted Average Shares	'
	The following table reconciles the basic and diluted weighted average shares outstanding for the three and nine months ended September 30, 2014 and 2013:
		Nine Months Ended September 30,							Three Months Ended September 30,
		2014			2013				2014	2013
	Basic weighted average shares of common stock outstanding	124,019,046			114,301,779				140,301,433	114,812,694
	Operating Partnership Units	830,343			—		(1)		830,343	—	(1)
	University Towers Operating Partnership Units	207,257			—		(1)		207,257	—	(1)
	Diluted weighted average shares of common stock outstanding	125,056,646			114,301,779				141,339,033	114,812,694

Investments_in_unconsolidated_1

Investments in unconsolidated entities (Tables)	9 Months Ended
	Sep. 30, 2014
Equity Method Investments and Joint Ventures [Abstract]	'
Financial Information of Unconsolidated Joint Ventures Limited Liability Companies and Limited Partnerships	'
	The following is a summary of financial information for the Trust’s unconsolidated joint ventures for the nine months ended September 30, 2014 and 2013 (in thousands):
		2014			2013
	Revenues	$	22,006		$	2,706
	Net loss	(1,246		)	(408		)
	Trust's equity in losses of unconsolidated entities	(370		)	(102		)

Debt_Tables

Debt (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Scheduled Maturities of Outstanding Mortgage and Construction Indebtedness	'
	The scheduled maturities of outstanding mortgage and construction indebtedness as of September 30, 2014 are as follows (in thousands):
	Fiscal Year Ending December 31,
	2014 (3 months ending December 31, 2014)	$	896
	2015	96,983
	2016	124,672
	2017	39,068
	2018	1,635
	Thereafter	71,166
	Total	334,420
	Debt premium	1,694
	Outstanding as of September 30, 2014, net of unamortized debt premium	$	336,114

Segments_Tables

Segments (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Segment Information	'
	The following tables represent the Trust’s segment information for the three and nine months ended September 30, 2014 and 2013 (in thousands):
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Collegiate Housing Leasing:
		Collegiate housing leasing revenue	$	47,657		$	39,550		$	144,677		$	116,338
		Collegiate housing leasing operating expenses	26,920			23,847			70,062			59,430
		Net operating income	$	20,737		$	15,703		$	74,615		$	56,908
		Total segment assets at end of period (1)	$	1,750,705		$	1,473,665		$	1,750,705		$	1,473,665
	Development Consulting Services:
		Third-party development consulting services revenue	$	3,705		$	839		$	5,264		$	1,989
		General and administrative expenses	692			533			1,922			1,396
		Net operating income	$	3,013		$	306		$	3,342		$	593
		Total segment assets at end of period(2)	$	4,941		$	6,097		$	4,941		$	6,097
	Management Services:
		Third-party management services revenue	$	1,052		$	918		$	2,856		$	2,710
		General and administrative expenses	630			623			1,933			1,898
		Net operating income	$	422		$	295		$	923		$	812
		Total segment assets at end of period(2)	$	9,106		$	10,965		$	9,106		$	10,965
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
	Reconciliations:
		Segment revenue	$	52,414		$	41,307		$	152,797		$	121,037
		Operating expense reimbursements	2,290			2,162			6,492			8,141
		Total revenues	$	54,704		$	43,469		$	159,289		$	129,178
		Segment operating expenses	$	28,242		$	25,003		$	73,917		$	62,724
		Reimbursable operating expenses	2,290			2,162			6,492			8,141
		Total operating expenses	$	30,532		$	27,165		$	80,409		$	70,865
		Segment net operating income	$	24,172		$	16,304		$	78,880		$	58,313
	The following is a reconciliation of the reportable segments’ net operating income to the Trust’s consolidated income (loss) before income taxes, discontinued operations and gain on sale of collegiate housing properties for the three and nine months ended September 30, 2014 and 2013 (in thousands):
			Three Months Ended September 30,						Nine Months Ended September 30,
			2014			2013			2014			2013
		Segment net operating income	$	24,172		$	16,304		$	78,880		$	58,313
		Other unallocated general and administrative expenses	(4,437		)	(2,379		)	(10,629		)	(7,623		)
		Depreciation and amortization	(14,688		)	(11,387		)	(42,928		)	(33,548		)
		Ground lease	(2,329		)	(1,833		)	(6,162		)	(5,631		)
		Loss on impairment of collegiate housing properties	(953		)	—			(12,734		)	—
		Nonoperating income (expenses)	12,393			(4,878		)	270			(13,374		)
		Equity in losses of unconsolidated entities	(236		)	(61		)	(370		)	(102		)
		Income (loss) before income taxes, discontinued operations and gain on sale of collegiate housing properties	$	13,922		$	(4,234	)	$	6,327		$	(1,965	)
	(1) The increase in segment assets related to collegiate housing leasing is primarily related to the opening of seven new properties and two property acquisitions in 2014 and continued development of five communities for ownership by the Trust.
	(2) Total segment assets also include goodwill of $2,149 related to the management services and $921 related to devleopment consulting services.

Acquisition_and_development_of1

Acquisition and development of real estate investments (Tables)	9 Months Ended
	Sep. 30, 2014
Real Estate [Abstract]	'
Schedule of Business Acquisitions, by Acquisition	'
	During the year ended December 31, 2013, the Trust completed the following three collegiate housing property acquisitions:
	Name		Primary University Served		Acquisition		# of Beds			# of Units			Contract Price (in thousands)
					Date
	The Cottages on Lindberg		Purdue University West Lafayette, Indiana		Aug-13		745			193			$36,000
	The Retreat at State College		Pennsylvania State University State College, Pennsylvania		Sep-13		587			138			$56,189
	The Varsity		University of Michigan Ann Arbor, Michigan		Dec-13		415			181			$53,950
	During the three months ended September 30, 2014, the Trust completed the following two collegiate housing property acquisitions:
	Name		Primary University Served		Acquisition		# of Beds			# of Units			Contract Price (in thousands)
					Date
	109 Tower		Florida International University Miami, Florida		Aug-14		542			149			$	43,500
	District on Apache		Arizona State University Tempe, Arizona		Sep-14		900			279			$	89,800
Fair Values of Assets Acquired and Liabilities Assumed	'
	A summary follows of the fair values of the assets acquired and the liabilities assumed as of the dates of the acquisitions (in thousands):
		The Cottages on Lindberg				The Retreat at State College				The Varsity				Total
	Collegiate housing properties	$	35,704			$	55,812			$	53,630			$	145,146
	Other assets	347				442				481				1,270
	Current liabilities	(689		)		(405		)		(449		)		(1,543		)
	Mortgage debt	—				—				(32,420		)		(32,420		)
	Total net assets acquired	$	35,362			$	55,849			$	21,242			$	112,453
	The purchase price allocation is expected to be finalized by December 31, 2014.  A preliminary allocation of the purchase price to the fair values of assets acquired and liabilities assumed as of the dates of the acquisitions are as follows (in thousands):
			109 Tower				District on Apache				Total
	Collegiate housing properties		$	43,384			$	89,216			$	132,600
	Goodwill and other intangibles, net		—				643				643
	Other assets		200				36				236
	Current liabilities		(746		)		(1,341		)		(2,087		)
	Total net assets acquired		$	42,838			$	88,554			$	131,392
Acquisitions Revenue Net Income and Earnings Per Share of Combined Entity had Acquisition Date Been as of Beginning of Period	'
	The actual revenue and net income since the acquisition and the unaudited pro forma revenue and net income had the acquisition date been January 1, 2013, are as follows:
		Revenue				Net				Net income attributable to common stockholders per share - basic and diluted
						income
		(in thousands)
	Actual from date of acquisition – 9/30/14	$	1,030			$	52			$	—
	2014 supplemental proforma for 1/1/14 – 9/30/14 (1)	$	165,458			$	28,383			$	0.23
	2013 supplemental proforma for 1/1/13 – 9/30/13 (1)	$	130,576			$	3,014			$	0.03
	The actual revenue and net income since the acquisition and the unaudited pro forma revenue and net income had the acquisition date been January 1, 2013, are as follows:
		Revenue				Net				Net income attributable to common stockholders per share - basic and diluted
						income
		(in thousands)
	Actual from date of acquisition – 9/30/13	$	719			$	400			$	—
	2013 supplemental pro forma for 1/1/13 – 9/30/13(1)	$	132,100			$	3,004			$	0.03
	(1) Supplemental pro forma earnings for the nine months ended September 30, 2013 were adjusted to exclude $0.2 million of acquisition-related costs incurred in 2013.

Disposition_of_real_estate_inv1

Disposition of real estate investments and discontinued operations (Tables)	9 Months Ended
	Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Income (Loss) from Discontinued Operations Net of Noncontrolling Interests and Related Realized Gains on Sales of Real Estate from Discontinued Operations Net of Noncontrolling Interests	'
	The following table summarizes the income from discontinued operations, net of noncontrolling interests, for the three and nine months ended September 30, 2013 (in thousands):
		Three months ended September 30, 2013			Nine months ended September 30, 2013
	Collegiate housing leasing revenue	$	729		$	4,470
	Collegiate housing leasing operating expenses	(681		)	(2,571		)
	Depreciation and amortization	(327		)	(1,414		)
	Interest income	—			1
	Noncontrolling interests	2			(3		)
	Income from discontinued operations attributable to Education Realty Trust, Inc.	(278		)	483
	Gain on sale of collegiate housing properties	—			3,895
	Noncontrolling interests	—			(28		)
	Gain on sale of collegiate housing properties attributable to Education Realty Trust, Inc.	—			3,867
	Income from discontinued operations, net of noncontrolling interests	$	(278	)	$	4,350

Incentive_plans_Tables

Incentive plans (Tables)	9 Months Ended
	Sep. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Stock Based Incentive Plan Activity	'
	A summary of the stock-based incentive plan activity is as follows:
		Restricted Stock			Weighted-Average Grant Date Fair Value Per Restricted Stock Award		RSU Awards		Weighted-Average Grant Date Fair Value Per RSU
		Awards
	Outstanding as of December 31, 2013	184,023		(1)	$	8.96	390,275		$	6.78
	Granted	77,833			8.9		306,916		6.4
	Vested	(73,429	)		8.85		(143,354	)	8.82
	Surrendered	(41,997	)		8.95		(113,103	)	8.82
	Outstanding as of September 30, 2014	146,430		(1)	$	9.17	440,734		$	6.86
	-1	Represents unvested shares of restricted stock awards as of the date indicated.

Derivatives_and_Hedging_Activi1

Derivatives and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	'
	The following table discloses the effect of the derivative instruments on the condensed consolidated statement of comprehensive income for the nine months ended September 30, 2014 (in thousands):
	Derivatives in Cash Flow Hedging Relationships	Amount of Loss Recognized in OCI on Derivative (Effective Portion)			Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)
	Interest rate contracts	$	(5,021	)	Interest expense	$	2,607
	The following table discloses the effect of the derivative instruments on the condensed consolidated statement of comprehensive income for the three months ended September 30, 2014 (in thousands):
	Derivatives in Cash Flow Hedging Relationships	Amount of Gain Recognized in OCI on Derivative (Effective Portion)			Location of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)
	Interest rate contracts	$	423		Interest expense	$	919

Fair_Value_of_Financial_Instru1

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Schedule of Non Financial Assets Impaired During Period	'
	The table below summarizes non-financial assets that were impaired during the nine months ended September 30, 2014 and remained on the accompanying condensed consolidated balance sheet as of September 30, 2014 (in thousands):
				Estimated Fair Value
		Carrying value		Level 1		Level 2		Level 3
	Collegiate housing properties, net	$	21,781	$	—	$	21,781	$	—
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	'
	The table below summarizes the carrying amounts and fair values of these financial instruments as of September 30, 2014 (in thousands):
				Estimated Fair Value
		Carrying value		Level 1		Level 2		Level 3
	Derivative financial instruments (liability position)	$	2,414	$	—	$	2,414	$	—
	Deferred compensation plan assets	486		486		—		—
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	'
	The table below summarizes the carrying amounts and fair values of these financial instruments as of September 30, 2014 and December 31, 2013 (in thousands):
		30-Sep-14
				Estimated Fair Value
		Carrying value		Level 1		Level 2		Level 3
	Mezzanine notes receivable	$	375	$	—	$	313	$	—
	Unsecured revolving credit facility	210,000		—		210,000		—
	Unsecured term loan facility	187,500		—		187,500		—
	Variable rate mortgage and construction loans	126,895		—		126,895		—
	Fixed rate mortgage and construction loans	207,525		—		226,080		—
		31-Dec-13
				Estimated Fair Value
		Carrying value		Level 1		Level 2		Level 3
	Mezzanine notes receivable	$	18,125	$	—	$	19,330	$	—
	Unsecured revolving credit facility	356,900		—		356,900		—
	Variable rate mortgage and construction loans	193,381		—		193,381		—
	Fixed rate mortgage and construction loans	227,009		—		239,162		—

Summary_of_significant_account3

Summary of significant accounting policies - Additional Information (Detail) (USD $)

0 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

0 Months Ended

12 Months Ended

0 Months Ended

Jun. 24, 2014

Aug. 26, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Dec. 31, 2008

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Dec. 31, 2013

22-May-12

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Jul. 14, 2014

Jul. 14, 2010

Dec. 31, 2010

Sep. 30, 2014

Jul. 14, 2010

Aug. 29, 2014

Apr. 15, 2014

Sep. 10, 2013

Sep. 30, 2014

Oct. 24, 2014

joint_venture

joint_venture

Project Development Services

Cost Savings

Guarantee Fee Revenue

Interest Income

Minimum

Maximum

Employee Stock Purchase Plan

Employee Stock Purchase Plan

Employee Stock Purchase Plan

Employee Stock Purchase Plan

Equity Distribution Agreement 2012

Equity Distribution Agreement 2012

Equity Distribution Agreement 2012

Collegiate Housing Properties or Leaseholds

Collegiate Housing Properties or Leaseholds

Buildings and Improvements

Buildings and Improvements

Land Improvements

Furniture, Fixtures and Equipment

Furniture, Fixtures and Equipment

Management Services

Management Services

Development Consulting Services

Development Consulting Services

Participating Project to Develop Collegiate Housing Complex at Science and Technology Park at Johns Hopkins Medical Institute

Participating Project to Develop Collegiate Housing Complex at Science and Technology Park at Johns Hopkins Medical Institute

Participating Project to Develop Collegiate Housing Complex at Science and Technology Park at Johns Hopkins Medical Institute

Participating Project to Develop Collegiate Housing Complex at Science and Technology Park at Johns Hopkins Medical Institute

Participating Project to Develop Collegiate Housing Complex at Science and Technology Park at Johns Hopkins Medical Institute

Collegiate Housing Community At University Of Mississippi Campus

Roosevelt Point

Collegiate Housing Properties Or Leaseholds East Edge Apartments

District on Apache

Subsequent Event

property

property

agreement

property

property

Minimum

Maximum

Minimum

Maximum

story

Second Mortgage

Second Mortgage

bed

agreement

bed

Significant Accounting Policies [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maturity period of highly-liquid investments classified as cash equivalents

'

'

'

'

'

'

'

'

'

'

'

'

'

'3 months

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash on deposit uninsured by the FDIC

'

'

$8,400,000

'

$8,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Promissory note receivable

'

500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Notes receivable, interest rate (percent)

'

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Due from related party

'

'

400,000

'

400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Project cost

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

60,700,000

'

'

'

'

'

'

'

'

Number of story (stories)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

20

'

'

'

'

'

'

'

'

Number of beds (beds)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

572

'

'

'

'

'

'

900

'

Second mortgage Investment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

18,000,000

'

'

'

'

'

Guarantee fee revenue

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,000,000

'

'

'

'

'

'

'

'

'

Management contract period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'10 years

'

'

'

'

'

'

'

Notes receivable

'

'

375,000

'

375,000

'

18,125,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

18,000,000

'

'

'

'

'

'

Revenue that would have been recognized had construction loan and second mortgage had been repaid

'

'

'

'

'

'

'

'

2,600,000

800,000

3,000,000

6,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Property, plant and equipment, useful life

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'15 years

'40 years

'15 years

'3 years

'7 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loss on impairment of collegiate housing property

'

'

953,000

0

12,734,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties classified as part of discontinued operation (properties)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of properties sold (properties)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Properties Held for Sale

'

'

1

'

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock aggregate gross offering

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

150,000,000

Stock issued during period (in shares)

24,500,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares purchased by underwriters

3,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from issuance of common stock

239,400,000

'

'

'

271,461,000

16,795,000

'

'

'

'

'

'

'

'

'

'

'

'

31,500,000

17,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of equity distribution agreements

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3

Common stock, shares authorized (shares)

'

'

200,000,000

'

200,000,000

'

200,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

50,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common stock, shares issued (shares)

'

'

142,402,758

'

142,402,758

'

114,740,155

'

'

'

'

'

'

'

'

'

'

'

2,900,000

1,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Employee stock purchase plan, purchase price per share of common stock purchased as percentage of fair market value on applicable purchase date (percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

85.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Employee stock purchase plan, shares of common stock reserved for issuance (shares)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

300,000

'

300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Employee stock purchase plan, discount on the shares purchased (percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Employee stock purchase plan, compensation expense

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7,300

6,800

26,100

14,400

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Mortgage and construction loans, unamortized debt premiums

'

'

1,694,000

'

1,694,000

'

2,291,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Taxable income that needs to be distributed to stockholders in order to avoid federal, state and local income taxes (percent)

'

'

'

'

'

'

'

'

'

'

'

'

90.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized tax benefits

'

'

0

'

0

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unrecognized tax benefits, interest or penalties expense

'

'

'

'

0

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of new joint venture agreements

'

'

3

'

3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Ownership percentage purchase

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

30.00%

'

10.00%

'

'

Payments to noncontrolling interest

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8,500,000

800,000

6,900,000

'

'

Ownership percent

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

95.00%

'

'

'

Goodwill accumulated impairment loss

'

'

'

'

'

'

'

400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Goodwill impairment

'

'

'

'

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Goodwill carrying value

'

'

3,100,000

'

3,100,000

'

3,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,149,000

2,149,000

921,000

921,000

'

'

'

'

'

'

'

'

'

'

Acquired intangible asset related to in-place leases

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

600,000

'

Carrying value of other intangible assets

'

'

$600,000

'

$600,000

'

$800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Summary_of_significant_account4

Summary of significant accounting policies - Activity with Redeemable Noncontrolling Interests (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Increase (Decrease) in Temporary Equity [Roll Forward]	'	'
Beginning balance – redeemable noncontrolling interests	$9,871	$8,944
Net income (loss) attributable to redeemable noncontrolling interests	206	-2
Adjustments to report redeemable noncontrolling interests at fair value	2,775	0
Distributions attributable to redeemable noncontrolling interests	-800	-334
Ending balance – redeemable noncontrolling interests	$12,052	$8,608

Summary_of_significant_account5

Summary of significant accounting policies - Reconciliation of Basic and Diluted Weighted Average Shares (Detail)	3 Months Ended			9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Weighted Average Number of Shares Outstanding [Line Items]	'	'	'	'	'
Basic weighted average shares of common stock outstanding	140,301,433	114,812,694	'	124,019,046	114,301,779
Diluted weighted average shares of common stock outstanding	141,339,033	114,812,694	114,812,694	125,056,646	114,301,779
Operating Partnership Units	'	'	'	'	'
Weighted Average Number of Shares Outstanding [Line Items]	'	'	'	'	'
Diluted shares outstanding adjustment (shares)	830,343	0	'	830,343	0
University Towers Operating Partnership Units	'	'	'	'	'
Weighted Average Number of Shares Outstanding [Line Items]	'	'	'	'	'
Diluted shares outstanding adjustment (shares)	207,257	0	'	207,257	0

Investments_in_unconsolidated_2

Investments in unconsolidated entities - Financial Information of Unconsolidated Joint Ventures Limited Liability Companies and Limited Partnerships (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Equity Method Investments and Joint Ventures [Abstract]	'	'	'	'
Revenues	'	'	$22,006	$2,706
Net loss	'	'	-1,246	-408
Equity in losses of unconsolidated entities	($236)	($61)	($370)	($102)

Investments_in_unconsolidated_3

Investments in unconsolidated entities - Additional Information (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Schedule of Equity Method Investments [Line Items]	'	'
Investments in unconsolidated entities	$29	$21.20
Mn Holdings Llc	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Equity method investment, ownership percentage	50.00%	'
Joint investment in land	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Equity method investment, ownership percentage	50.00%	'
West Clayton Athens GA Owner LLC	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Equity method investment, ownership percentage	50.00%	'
Elauwit Networks	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Equity method investment, ownership percentage	10.00%	'
University Village-Greensboro LLC	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Equity method investment, ownership percentage	25.00%	'
Accrued Liabilities	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Investments classified in accrued expenses	$1.60	$1.70

Debt_Revolving_Credit_Facility

Debt - Revolving Credit Facility (Details) (USD $)	0 Months Ended	9 Months Ended
	Oct. 24, 2013	Sep. 30, 2014	Oct. 24, 2013	Jan. 14, 2013
Line of Credit Facility [Line Items]	'	'	'	'
Covenant dividend payout	'	95.00%	'	'
Fourth Amended Revolver | Amended Line of Credit Facility	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'
Revolving credit facility, initiation date	'	14-Jan-13	'	'
Line of credit facility, current borrowing capacity	'	'	$500,000,000	$375,000,000
Line of credit, term, initial period capacity may be increased	'4 years	'	'	'
Revolving credit facility, maturity date	14-Jan-18	'	'	'
Line of credit facility, availability percentage of property asset value	'	'	60.00%	'
Revolving credit facility, borrowing base	'	500,000,000	'	'
Line of credit facility, amount outstanding	'	210,000,000	'	'
Line of credit facility, remaining borrowing base availability	'	290,000,000	'	'
Third Amended Revolver | Amended Line of Credit Facility	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'
Line of credit facility, interest rate	'	1.46%	'	'
Fourth Amendment Revolver Accordion Feature | Amended Line of Credit Facility	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'
Revolving credit facility, maximum availability	$700,000,000	'	$700,000,000	'
Minimum | Fourth Amended Revolver | Amended Line of Credit Facility	'	'	'	'
Line of Credit Facility [Line Items]	'	'	'	'
Debt service ratio	1.4	'	1.4	'

Debt_Unsecured_Term_Loan_Detai

Debt - Unsecured Term Loan (Details) (USD $)

Sep. 30, 2014

Jan. 13, 2014

Jan. 13, 2014

Jan. 13, 2014

Sep. 30, 2014

Jan. 13, 2014

Jan. 13, 2014

Sep. 30, 2014

Jan. 13, 2014

Jan. 13, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Unsecured Debt

Swap

Swap

Swap

LIBOR

LIBOR

LIBOR

LIBOR

Credit Agreement

Credit Agreement Tranche A

Credit Agreement Tranche A

Credit Agreement Tranche A

Credit Agreement Tranche B

Credit Agreement Tranche B

Credit Agreement Tranche B

Interest Rate Swap

Interest Rate Swap

Interest Rate Swap

Minimum

Minimum

Maximum

Maximum

Unsecured Debt

Unsecured Debt

Credit Agreement Tranche A

Credit Agreement Tranche B

Credit Agreement Tranche A

Credit Agreement Tranche B

Credit Agreement Tranche A

Credit Agreement Tranche B

Line of Credit Facility [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term debt, gross

$334,420,000

'

$187,500,000

'

'

$122,500,000

'

'

$65,000,000

'

'

'

'

'

'

'

Debt term

'

'

'

'7 years

'

'

'5 years

'

'

'

'

'

'

'

'

'

Debt instrument, accordion feature, maximum allowable increase

'

250,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Margin on variable interest rate

'

'

'

'

'

'

'

'

'

'

'

'

1.55%

1.20%

2.25%

1.90%

Derivative liability, notional amount

'

'

'

'

'

'

'

'

'

$187,500,000

'

'

'

'

'

'

Debt instrument, interest rate, effective percentage

'

'

'

'

3.85%

'

'

2.86%

'

'

'

'

'

'

'

'

Derivative, average fixed interest rate

'

'

'

'

'

'

'

'

'

'

2.30%

1.66%

'

'

'

'

Derivative, average fixed interest rate margin

'

'

'

'

'

'

'

'

'

'

1.55%

1.20%

'

'

'

'

Debt_Mortgage_and_Construction

Debt - Mortgage and Construction Debt (Details) (USD $)

3 Months Ended

9 Months Ended

1 Months Ended

0 Months Ended

9 Months Ended

1 Months Ended

0 Months Ended

0 Months Ended

0 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Aug. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Feb. 28, 2014

Jul. 14, 2014

Jul. 14, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Apr. 30, 2014

Apr. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Jul. 01, 2014

Jul. 01, 2014

Sep. 30, 2014

Jul. 09, 2014

Jul. 09, 2014

Credit Facility

Credit Facility

Mortgage Debt

University Towers

Collegiate Housing Properties or Leaseholds Oaks On Square Apartments

Collegiate Housing Properties or Leaseholds Oaks On Square Apartments

Roosevelt Point

The Varsity

The Varsity

GrandMarc at Westberry Place

Master Secured Credit Facility

Master Secured Credit Facility

Construction Loans

The Centre At Overton Park Texas Tech University

The Centre At Overton Park Texas Tech University

Collegiate Housing Properties or Leaseholds Oaks On Square Apartments

Oaks On The Square

Oaks On The Square

Oaks On The Square

Pointe West Collegiate Housing Community at University of South Carolina

Pointe West Collegiate Housing Community at University of South Carolina

The Retreat at Louisville

Base Rate

LIBOR

Mortgage Debt

Construction Loans

Construction Loans

Construction Loans

Collegiate Housing Properties or Leaseholds Oaks On Square Apartments

Minimum

Maximum

Construction Loans

Construction Loans

Construction Loans

Fixed Rate Mortgage Debt

Construction Loans

The Retreat at Louisville

The Retreat at Louisville

Fixed Rate Mortgage Debt

Fixed Rate Mortgage Debt

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term debt

$336,114,000

'

$336,114,000

'

$422,681,000

$160,400,000

$169,700,000

$47,100,000

$34,000,000

'

'

'

'

$32,400,000

$35,700,000

'

'

'

'

'

'

'

'

'

'

'

$0

'

'

Interest rate, stated percentage

'

'

'

'

'

5.91%

'

'

2.29%

'

'

'

'

2.25%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Long-term debt, current maturities

'

'

'

'

'

'

'

81,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unamortized premium

1,694,000

'

1,694,000

'

2,291,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Effective interest rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4.96%

'

'

4.16%

5.60%

'

2.41%

'

'

'

4.92%

'

'

'

Margin on variable interest rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4.85%

'

'

'

'

'

'

'

'

'

'

'

'

1.05%

2.05%

Mortgage loan, maturity date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1-Jan-20

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loss on extinguishment of debt

243,000

0

892,000

0

'

'

'

'

'

'

'

'

'

'

600,000

100,000

'

'

'

'

'

'

100,000

'

'

'

'

'

'

Repayment of mortgage debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7,200,000

'

'

'

'

'

'

'

9,500,000

'

'

'

'

Construction debt

'

'

'

'

'

'

'

'

'

43,200,000

13,800,000

'

'

'

'

'

'

60,500,000

'

'

'

'

'

'

'

'

'

'

'

Debt instrument, interest rate, effective percentage

'

'

'

'

'

'

'

'

'

'

'

2.22%

2.40%

'

'

'

'

'

'

'

'

'

'

2.10%

'

'

'

'

'

Repayments of full variable rate construction debt

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$32,300,000

'

$8,200,000

'

'

'

'

'

'

Weighted average interest rate

4.39%

'

4.39%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Maturity period

'

'

'2 years 0 months 13 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt_Scheduled_Maturities_of_O

Debt - Scheduled Maturities of Outstanding Mortgage and Construction Indebtedness (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Debt Disclosure [Abstract]	'	'
2014 (3 months ending December 31, 2014)	$896	'
2015	96,983	'
2016	124,672	'
2017	39,068	'
2018	1,635	'
Thereafter	71,166	'
Total	334,420	'
Debt premium	1,694	2,291
Outstanding as of September 30, 2014, net of unamortized debt premium	$336,114	$422,681

Segments_Additional_Informatio

Segments - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2014
	segment
Segment Reporting [Abstract]	'
Number of reportable segments	3

Segments_Segment_Information_D

Segments - Segment Information (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Segment Reporting Information [Line Items]	'	'	'	'	'
Collegiate housing leasing revenue	$47,657	$39,550	$144,677	$116,338	'
Collegiate housing leasing operating expenses	26,920	23,847	70,062	59,430	'
Third-party development consulting services revenue	3,705	839	5,264	1,989	'
Third-party management services revenue	1,052	918	2,856	2,710	'
Net operating income	1,765	705	6,427	11,511	'
Total assets, end of period	1,812,904	'	1,812,904	'	1,610,565
Revenues	54,704	43,469	159,289	129,178	'
Operating expense reimbursements	2,290	2,162	6,492	8,141	'
Operating expenses	30,532	27,165	80,409	70,865	'
Reimbursable operating expenses	2,290	2,162	6,492	8,141	'
Other unallocated general and administrative expenses	-4,437	-2,379	-10,629	-7,623	'
Depreciation and amortization	-14,688	-11,387	-42,928	-33,548	'
Ground lease	-2,329	-1,833	-6,162	-5,631	'
Loss on impairment of collegiate housing properties	-953	0	-12,734	0	'
Nonoperating income (expenses)	12,393	-4,878	270	-13,374	'
Gain on insurance settlement	8,133	0	8,133	0	'
Equity in losses of unconsolidated entities	-236	-61	-370	-102	'
Income (loss) before income taxes, discontinued operations and gain on sale of collegiate housing properties	13,922	-4,234	6,327	-1,965	'
Collegiate Housing Leasing	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Collegiate housing leasing revenue	47,657	39,550	144,677	116,338	'
Collegiate housing leasing operating expenses	26,920	23,847	70,062	59,430	'
Net operating income	20,737	15,703	74,615	56,908	'
Total assets, end of period	1,750,705	1,473,665	1,750,705	1,473,665	'
Development Consulting Services	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Third-party development consulting services revenue	3,705	839	5,264	1,989	'
General and administrative expenses	692	533	1,922	1,396	'
Net operating income	3,013	306	3,342	593	'
Total assets, end of period	4,941	6,097	4,941	6,097	'
Management Services	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Third-party management services revenue	1,052	918	2,856	2,710	'
General and administrative expenses	630	623	1,933	1,898	'
Net operating income	422	295	923	812	'
Total assets, end of period	9,106	10,965	9,106	10,965	'
Operating Segments	'	'	'	'	'
Segment Reporting Information [Line Items]	'	'	'	'	'
Net operating income	24,172	16,304	78,880	58,313	'
Revenues	52,414	41,307	152,797	121,037	'
Operating expense reimbursements	2,290	2,162	6,492	8,141	'
Operating expenses	28,242	25,003	73,917	62,724	'
Reimbursable operating expenses	$2,290	$2,162	$6,492	$8,141	'

Segments_Segment_Information_P

Segments - Segment Information (Parenthetical) (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Segment Reporting Information [Line Items]	'	'
Goodwill	$3,100	$3,100
Management Services	'	'
Segment Reporting Information [Line Items]	'	'
Goodwill	2,149	2,149
Development Consulting Services	'	'
Segment Reporting Information [Line Items]	'	'
Goodwill	$921	$921

Commitments_and_contingencies_

Commitments and contingencies - Additional Information (Detail) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

1 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Apr. 30, 2013

Dec. 31, 2013

Aug. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Jul. 14, 2010

Jul. 14, 2010

Minimum

Equity Method Investee

Operating Partnership Units

Corporate Joint Venture

Leyland Alliance Limited Liability Company

Florida International University [Member]

Collegiate Housing Properties or Leaseholds Oaks on Square Apartments

Collegiate Housing Properties or Leaseholds Oaks on Square Apartments

Construction Loan One [Member]

Construction Loan One [Member]

Construction Loan Two [Member]

Construction debt

Construction debt

Financial Guarantee

Project Costs

Leyland Alliance Limited Liability Company

Financial Guarantee

Commitments and Contingencies Disclosure [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Pre-sale acquisition price

'

'

'

'

'

'

'

'

'

'

$43,500,000

'

'

'

'

'

'

'

'

'

Gain on Business Interruption Insurance Recovery

600,000

600,000

100,000

1,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain on insurance settlement

8,133,000

0

8,133,000

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Guarantee obligations

'

'

'

'

'

'

23,700,000

'

46,400,000

'

'

'

'

'

'

'

'

'

42,000,000

'

Operating Partnership's proportionate interest in the related mortgage debt

'

'

'

'

'

'

'

5,900,000

'

'

'

'

'

'

'

'

'

'

'

'

Guaranty liabilities

'

'

'

'

'

'

'

'

'

'

'

'

'

8,800,000

'

7,200,000

'

'

'

'

Non controlling interest, amount drawn on outstanding debt

'

'

'

'

'

'

'

'

'

'

'

'

'

50,800,000

13,100,000

0

'

'

'

'

Guarantee fee revenue

25,517,000

'

25,517,000

'

23,498,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,000,000

Construction debt

'

'

'

'

'

'

'

'

'

11,800,000

'

43,200,000

13,800,000

'

'

'

'

'

'

'

Line of credit facility, amount outstanding

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1,300,000

1,000,000

'

'

Minimum ownership interest to be hold by contributing owners for the trust to maintain certain minimum amounts of debt on the property to avoid triggering gain to contributing owners

'

'

'

'

'

25.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Reimbursable predevelopment costs

$1,700,000

'

$1,700,000

'

$1,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquisition_and_development_of2

Acquisition and development of real estate investments - Additional Information (Detail) (USD $)

3 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 31, 2013

property

property

property

The Retreat at Louisville

Lotus Lofts

Lotus Lofts

Lotus Lofts

Lotus Lofts

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Developer

Commercial Real Estate Development Project Phase I

Other Property

Other Property

bed

Javelin 19 Investments

Javelin 19 Investments

Javelin 19 Investments

Javelin 19 Investments

University of Kentucky

University of Kentucky

University of Kentucky

University of Kentucky

Leyland Alliance Limited Liability Company

Leyland Alliance Limited Liability Company

Leyland Alliance Limited Liability Company

Leyland Alliance Limited Liability Company

Leyland Alliance Limited Liability Company

Business Acquisition [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of real estate investments acquired (properties)

2

2

3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquisition costs

$900,000

$400,000

$400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Collegiate housing properties

133,300,000

133,300,000

146,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

132,600,000

145,146,000

Total net assets acquired

131,392,000

131,392,000

112,453,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Liabilities assumed

1,900,000

1,900,000

1,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Debt assumed

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

32,400,000

Number of beds (beds)

'

'

'

656

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Development of real estate investments, costs for the project

69,635,000

69,635,000

116,787,000

'

21,100,000

'

21,100,000

'

44,600,000

'

44,600,000

'

52,900,000

'

52,900,000

'

'

'

'

'

19,800,000

'

'

Development of real estate investments, capitalized interest costs

'

'

'

'

100,000

37,200

300,000

73,800

200,000

100,000

600,000

200,000

1,100,000

500,000

2,900,000

1,000,000

18,500

100,000

90,500

605,600

'

'

'

Development of real estate investments, capitalized internal development project costs

'

'

'

'

$33,700

$23,700

$100,000

$65,900

$11,700

$18,800

$100,000

'

$300,000

'

$800,000

$600,000

$100,000

$4,700

$100,000

$15,800

'

'

'

Right of Interest Percentage, Period from Date of Occupancy

'

'5 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Noncontrolling Interest, Right of Ownership Percentage Within Five Years

10.00%

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Acquisition_and_development_of3

Acquisition and development of real estate investments - Collegiate Housing Community Acquisitions (Detail) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
	109 Towers	District on Apache	The Cottages on Lindberg	The Retreat at State College	The Varsity
	unit	unit	bed	bed	bed
	bed	bed	unit	unit	unit
Business Acquisition [Line Items]	'	'	'	'	'
Primary University Served	'Florida International University Miami, Florida	'Arizona State University Tempe, Arizona	'Purdue University West Lafayette, Indiana	'Pennsylvania State University State College, Pennsylvania	'University of Michigan Ann Arbor, Michigan
Number of Beds (beds)	542	900	745	587	415
Number of Units (units)	149	279	193	138	181
Purchase Price	$43,500	$89,800	$36,000	$56,189	$53,950

Acquisition_and_development_of4

Acquisition and development of real estate investments - Fair Values of Assets Acquired and Liabilities Assumed (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Business Acquisition [Line Items]	'	'
Collegiate housing properties	$133,300	$146,100
Total net assets acquired	131,392	112,453
Collegiate housing properties	'	'
Business Acquisition [Line Items]	'	'
Collegiate housing properties	132,600	145,146
Goodwill and other intangibles, net	643	'
Other assets	'	'
Business Acquisition [Line Items]	'	'
Other assets	236	1,270
Current liabilities	'	'
Business Acquisition [Line Items]	'	'
Current liabilities	-2,087	-1,543
Mortgage debt	'	'
Business Acquisition [Line Items]	'	'
Mortgage debt	'	-32,420
The Cottages on Lindberg	'	'
Business Acquisition [Line Items]	'	'
Total net assets acquired	'	35,362
The Cottages on Lindberg | Collegiate housing properties	'	'
Business Acquisition [Line Items]	'	'
Collegiate housing properties	'	35,704
The Cottages on Lindberg | Other assets	'	'
Business Acquisition [Line Items]	'	'
Other assets	'	347
The Cottages on Lindberg | Current liabilities	'	'
Business Acquisition [Line Items]	'	'
Current liabilities	'	-689
The Cottages on Lindberg | Mortgage debt	'	'
Business Acquisition [Line Items]	'	'
Mortgage debt	'	0
The Retreat at State College	'	'
Business Acquisition [Line Items]	'	'
Total net assets acquired	42,838	55,849
The Retreat at State College | Collegiate housing properties	'	'
Business Acquisition [Line Items]	'	'
Collegiate housing properties	43,384	55,812
Goodwill and other intangibles, net	0	'
The Retreat at State College | Other assets	'	'
Business Acquisition [Line Items]	'	'
Other assets	200	442
The Retreat at State College | Current liabilities	'	'
Business Acquisition [Line Items]	'	'
Current liabilities	-746	-405
The Retreat at State College | Mortgage debt	'	'
Business Acquisition [Line Items]	'	'
Mortgage debt	'	0
The Varsity	'	'
Business Acquisition [Line Items]	'	'
Total net assets acquired	88,554	21,242
The Varsity | Collegiate housing properties	'	'
Business Acquisition [Line Items]	'	'
Collegiate housing properties	89,216	53,630
Goodwill and other intangibles, net	643	'
The Varsity | Other assets	'	'
Business Acquisition [Line Items]	'	'
Other assets	36	481
The Varsity | Current liabilities	'	'
Business Acquisition [Line Items]	'	'
Current liabilities	-1,341	-449
The Varsity | Mortgage debt	'	'
Business Acquisition [Line Items]	'	'
Mortgage debt	'	($32,420)

Acquisition_and_development_of5

Acquisition and development of real estate investments - Pro Forma Revenue and Net Loss of Combined Entity (Detail) (USD $)	3 Months Ended		9 Months Ended			21 Months Ended	9 Months Ended		21 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014
					2012 Acquisitions	2012 Acquisitions	2013 Acquisitions	2013 Acquisitions	2013 Acquisitions
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]	'	'	'	'	'	'	'	'	'
Revenues	$54,704	$43,469	$159,289	$129,178	'	$719	'	'	$1,030
Net income	21,400	-4,462	24,658	2,679	'	400	'	'	52
Net income attributable to common stockholders per share - basic and diluted	$0.15	($0.04)	$0.20	$0.02	'	$0	'	'	$0
Revenue	'	'	'	'	132,100	'	165,458	130,576	'
Net income	'	'	'	'	$3,004	'	$28,383	$3,014	'
Net income attributable to common stockholders per share - basic and diluted	'	'	'	'	$0.03	'	$0.23	$0.03	'

Disposition_of_real_estate_inv2

Disposition of real estate investments and discontinued operations - Additional Information (Detail) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

0 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2014

Dec. 19, 2013

Jun. 19, 2013

property

property

property

Property Dispositions Other Than Discontinued Operations

Discontinued Operations

Discontinued Operations

College Station At West Lafayette [Member]

College Station At West Lafayette [Member]

The Pointe at Western

College Grove

property

property

property

property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Disposition of real estate investments, sales price

'

'

'

'

'

'

'

'

'

$71,700,000

$21,000,000

$20,700,000

Proceeds from sale of real estate

'

'

'

'

'

'

'

'

'

52,200,000

'

'

Repayment of mortgage debt

'

'

'

'

'

'

'

'

16,700,000

16,700,000

'

'

Gain on sale of collegiate housing properties

8,421,000

0

19,322,000

0

'

'

'

3,895,000

'

'

'

3,900,000

Number of properties sold (properties)

'

'

'

'

'

'

'

'

2

'

'

'

Disposition of real estate investments, net proceeds

'

'

$69,000,000

$20,213,000

'

'

'

'

'

'

$20,000,000

$20,200,000

Number of real estate investments held-for-sale (properties)

2

'

2

'

3

4

2

2

'

'

'

'

Disposition_of_real_estate_inv3

Disposition of real estate investments and discontinued operations - Income (Loss) from Discontinued Operations Net of Noncontrolling Interests and Related Realized Gains on Sales of Real Estate from Discontinued Operations Net of Noncontrolling Interests (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Collegiate housing leasing revenue	$47,657	$39,550	$144,677	$116,338
Collegiate housing leasing operating expenses	-26,920	-23,847	-70,062	-59,430
Depreciation and amortization	-14,688	-11,387	-42,928	-33,548
Gain on sale of collegiate housing properties	8,421	0	19,322	0
Discontinued Operations	'	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'
Collegiate housing leasing revenue	'	729	'	4,470
Collegiate housing leasing operating expenses	'	-681	'	-2,571
Depreciation and amortization	'	-327	'	-1,414
Interest income	'	0	'	1
Noncontrolling interests	'	2	'	-3
Income from discontinued operations attributable to Education Realty Trust, Inc.	'	-278	'	483
Gain on sale of collegiate housing properties	'	'	'	3,895
Noncontrolling interests	'	0	'	-28
Gain on sale of collegiate housing properties attributable to Education Realty Trust, Inc.	'	0	'	3,867
Income from discontinued operations, net of noncontrolling interests	'	($278)	'	$4,350

Incentive_plans_Additional_Inf

Incentive plans - Additional Information (Detail) (USD $)

9 Months Ended

3 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

3 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

9 Months Ended

0 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Jan. 01, 2014

Sep. 30, 2014

Jan. 01, 2013

Sep. 30, 2014

Jan. 01, 2014

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Jan. 01, 2014

Sep. 30, 2014

Jan. 01, 2013

Sep. 30, 2014

4-May-11

Sep. 30, 2014

General and Administrative Expense

General and Administrative Expense

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Restricted Stock

Time Based Restricted Stock

Time Based Restricted Stock

Time Based Restricted Stock

Time Based Restricted Stock

Restricted Stock Units (RSUs)

Restricted Stock Units (RSUs)

Restricted Stock Units (RSUs)

Restricted Stock Units (RSUs)

Restricted Stock Units (RSUs)

Restricted Stock Units (RSUs)

Restricted Stock Units (RSUs)

Restricted Stock Units (RSUs)

Restricted Stock Units (RSUs)

Restricted Stock Units (RSUs)

Stock Incentive Plan 2011

Stock Incentive Plan 2011

General and Administrative Expense

General and Administrative Expense

Long Term Incentive Plan 2014

Long Term Incentive Plan 2014

Long Term Incentive Plan 2013

Long Term Incentive Plan 2013

General and Administrative Expense

General and Administrative Expense

Long Term Incentive Plan 2014

Long Term Incentive Plan 2014

Long Term Incentive Plan 2013

Long Term Incentive Plan 2013

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity incentive plan, common stock shares authorized

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

315,000

'

Equity incentive plan, additional common stock shares

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3,147,500

'

Equity incentive plan, common stock shares reserved for issuance

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2,464,889

Equity incentive plan, unearned compensation related to restricted stock

'

'

'

'

$900,000

'

$800,000

'

'

'

'

'

'

'

$1,800,000

'

$900,000

'

'

'

'

'

'

'

'

Equity incentive plan, compensation expense

'

'

'

'

500,000

700,000

'

'

'

'

'

'

'

'

1,000,000

700,000

'

'

'

'

'

'

'

'

'

Noncash compensation expense related to stock-based incentive awards

1,775,000

1,678,000

1,700,000

1,700,000

'

'

'

200,000

200,000

'

'

'

'

'

'

'

'

300,000

200,000

'

'

'

'

'

'

Equity incentive plan, shares issued

'

'

'

'

'

'

'

'

'

74,233

'

65,791

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity incentive plan, vesting period

'

'

'

'

'

'

'

'

'

'

'3 years

'

'3 years

'

'

'

'

'

'

'

'3 years

'

'3 years

'

'

Performance vested RSUs granted

'

'

'

'

77,833

'

'

'

'

'

'

'

'

'

306,916

'

'

'

'

306,914

'

122,180

'

'

'

RSU awards vested

'

'

'

'

'

'

'

'

'

'

'

'

'

203,250

'

'

'

'

'

'

'

'

'

'

'

Share based compensation expense reversed

$200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Incentive_plans_Stock_Based_In

Incentive plans - Stock Based Incentive Plan Activity (Detail) (USD $)	9 Months Ended
	Sep. 30, 2014
Restricted Stock	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]	'
Beginning balance (shares)	184,023
Granted (shares)	77,833
Vested (shares)	-73,429
Surrendered (shares)	-41,997
Ending balance (shares)	146,430
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]	'
Beginning balance, Weighted-Average Grant Date Fair Value Per Restricted Stock Award (usd per share)	$8.96
Granted, Weighted-Average Grant Date Fair Value Per Restricted Stock Award (usd per share)	$8.90
Vested, Weighted-Average Grant Date Fair Value Per Restricted Stock Award (usd per share)	$8.85
Surrendered, Weighted-Average Grant Date Fair Value Per Restricted Stock Award (usd per share)	$8.95
Ending balance, Weighted-Average Grant Date Fair Value Per Restricted Stock Award (usd per share)	$9.17
Restricted Stock Units (RSUs)	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]	'
Beginning balance (shares)	390,275
Granted (shares)	306,916
Vested (shares)	-143,354
Surrendered (shares)	-113,103
Ending balance (shares)	440,734
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]	'
Beginning balance, Weighted-Average Grant Date Fair Value Per Restricted Stock Award (usd per share)	$6.78
Granted, Weighted-Average Grant Date Fair Value Per Restricted Stock Award (usd per share)	$6.40
Vested, Weighted-Average Grant Date Fair Value Per Restricted Stock Award (usd per share)	$8.82
Surrendered, Weighted-Average Grant Date Fair Value Per Restricted Stock Award (usd per share)	$8.82
Ending balance, Weighted-Average Grant Date Fair Value Per Restricted Stock Award (usd per share)	$6.86

Derivatives_and_Hedging_Activi2

Derivatives and Hedging Activities (Details) (USD $)	Sep. 30, 2014
In Millions, unless otherwise specified	swap
Derivative [Line Items]	'
Number of interest rate swaps outstanding	6
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	$3.60
Interest rate derivatives, at fair value, net	2.4
Interest rate derivative liabilities, at fair value	2.7
Credit risk derivatives, at fair value, net	2.6
Interest Rate Swap	'
Derivative [Line Items]	'
Derivative, notional amount	$187.50

Derivatives_and_Hedging_Activi3

Derivatives and Hedging Activities - Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location (Details) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'	'
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion)	$423	($5,021)
Amount of Loss Reclassified from Accumulated OCI into Income (Effective Portion)	$919	$2,607

Fair_Value_of_Financial_Instru2

Fair Value of Financial Instruments (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Carrying value	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mezzanine notes receivable	$375	$18,125
Unsecured revolving credit facility	210,000	356,900
Carrying value | Nonrecurring	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Collegiate housing properties, net	21,781	'
Carrying value | Recurring	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Derivative financial instruments (liability position)	2,414	'
Deferred compensation plan assets	486	'
Carrying value | Variable Rate	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Unsecured term loan facility	187,500	'
Mortgage and construction loans	126,895	193,381
Carrying value | Fixed Rate	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage and construction loans	207,525	227,009
Estimated fair value | Level 1	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mezzanine notes receivable	0	0
Unsecured revolving credit facility	0	0
Estimated fair value | Level 2	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mezzanine notes receivable	313	19,330
Unsecured revolving credit facility	210,000	356,900
Estimated fair value | Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mezzanine notes receivable	0	0
Unsecured revolving credit facility	0	0
Estimated fair value | Nonrecurring | Level 1	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Collegiate housing properties, net	0	'
Estimated fair value | Nonrecurring | Level 2	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Collegiate housing properties, net	21,781	'
Estimated fair value | Nonrecurring | Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Collegiate housing properties, net	0	'
Estimated fair value | Recurring | Level 1	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Derivative financial instruments (liability position)	0	'
Deferred compensation plan assets	486	'
Estimated fair value | Recurring | Level 2	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Derivative financial instruments (liability position)	2,414	'
Deferred compensation plan assets	0	'
Estimated fair value | Recurring | Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Derivative financial instruments (liability position)	0	'
Deferred compensation plan assets	0	'
Estimated fair value | Variable Rate | Level 1	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Unsecured term loan facility	0	'
Mortgage and construction loans	0	0
Estimated fair value | Variable Rate | Level 2	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Unsecured term loan facility	187,500	'
Mortgage and construction loans	126,895	193,381
Estimated fair value | Variable Rate | Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Unsecured term loan facility	0	'
Mortgage and construction loans	0	0
Estimated fair value | Fixed Rate | Level 1	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage and construction loans	0	0
Estimated fair value | Fixed Rate | Level 2	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage and construction loans	226,080	239,162
Estimated fair value | Fixed Rate | Level 3	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'
Mortgage and construction loans	$0	$0

Subsequent_event_Additional_In

Subsequent event - Additional Information (Detail) (Details) (USD $)	3 Months Ended	9 Months Ended	1 Months Ended			1 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Oct. 31, 2014	Oct. 24, 2014	Oct. 31, 2014	Oct. 31, 2014	Oct. 31, 2014
			Subsequent Event	Subsequent Event	Oaks On The Square	Base Rate	LIBOR
				agreement	Construction Loans	Oaks On The Square	Oaks On The Square
					Subsequent Event	Construction Loans	Construction Loans
						Subsequent Event	Subsequent Event
Subsequent Event [Line Items]	'	'	'	'	'	'	'
Distribution declared per share (usd per share)	$0.12	'	'	'	'	'	'
Distribution declared, payable date	'	15-Nov-14	'	'	'	'	'
Distribution declared, record date	'	31-Oct-14	'	'	'	'	'
Property sold, gross sales price	'	'	$31,000,000	'	'	'	'
Proceeds from sale of property	'	'	29,700,000	'	'	'	'
Construction debt	'	'	'	'	38,000,000	'	'
Margin on variable interest rate	'	'	'	'	'	1.00%	2.00%
Number of equity distribution agreements	'	'	'	3	'	'	'
Common stock aggregate gross offering	'	'	'	$150,000,000	'	'	'