Education Realty Trust 8-K Fall 2015 Final Leasing Results

FALL 2015 FINAL LEASING RESULTS

		Opening Occupancy				Year Over Year Change In
	Design Beds	2015		2014		Occupancy		Rate		Total Revenue
Same-Communities - by Tier
Prior Year Occupancy Below 90% (Tier 1)	2,906	86.9	%	81.6	%	5.3	%	2.6	%	7.9	%
Prior Year Occupancy 90% to 94.9% (Tier 2)	2,063	94.0	%	92.2	%	1.8	%	2.1	%	3.9	%
Prior Year Occupancy 95% to 97.9% (Tier 3)	5,772	97.9	%	97.4	%	0.5	%	3.7	%	4.2	%
Prior Year Occupancy 98% and Above (Tier 4)	15,996	98.8	%	99.7	%	(0.9	)%	3.6	%	2.7	%
Total Same-Communities	26,737	97.0	%	96.6	%	0.4	%	3.4	%	3.8	%
Total New-Communities	3,557	95.5	%
Total Communities	30,294	96.8	%
Note: The same-community designation for leasing purposes is different than for financial statement purposes. A community is considered same-community for leasing when the Company has managed the leasing process for at least two leasing cycles, including the 2015/2016 leasing cycle.