Education Realty Trust 8-K Regulation FD Disclosure

Fall 2015 Preleasing Summary
		Design Beds	% of NOI		2014 Opening Occupancy		Preleasing at June 2,				Preleasing Ahead/(Behind)		Projected Rate Growth
							2015		2014
Same-Communities - by Tier
	Prior Year Occupancy Below 90% (Tier 1)	2,906	5.6	%	81.6	%	54.1	%	51.9	%	2.2	%	2.5	%
	Prior Year Occupancy 90% to 94.9% (Tier 2)	2,063	7.8	%	92.2	%	81.0	%	79.1	%	1.9	%	2.3	%
	Prior Year Occupancy 95% to 97.9% (Tier 3)	5,772	16.7	%	97.4	%	89.2	%	80.5	%	8.7	%	3.5	%
	Subtotal - Tiers 1 - 3	10,741	30.1	%	92.1	%	78.1	%	72.5	%	5.6	%
	Prior Year Occupancy 98% and Above (Tier 4)	15,996	69.9	%	99.6	%	93.1	%	94.5	%	(1.4	)%	3.5	%
	Total Same-Communities (1)	26,737	100.0	%	96.2	%	87.1	%	85.6	%	1.5	%	3.2	%
	Total New-Communities (2)	3,557					92.2	%
	Total Communities	30,294					87.7	%
	Projected Fall Revenue:
	The same-community portfolio is projected to obtain a 2.5% to 3.5% increase in revenue for the upcoming lease term, with net rates up 3.2% and occupancies consistent with the prior year.
	NOTE: Leasing update includes 2,982 same-community beds and 1,610 new-community beds to be delivered in 2015 at the University of Kentucky.
	(1) The same-community designation for leasing purposes is different than for financial reporting purposes. A community is considered same-community for leasing when the Company has managed the leasing process for at least two leasing cycles, including the 2015/2016 leasing cycle.
	(2) The new-community designation for leasing purposes is different than for financial statement purposes. A community is considered new-community for leasing when the Company has not previously managed the leasing process. Design beds for Total New-Communities above include the following: (1) our 2014 acquisition of The District on Apache (900 beds) and (2) beds at our 2015 development deliveries - The Oaks on the Square - Phase IV (391 beds), The Retreat at Louisville (656 beds), and Woodland Glen III, IV & V (1,610 beds).