Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Education Realty Trust, Inc. | a8-kforpreleasingstatistic.htm |
| EX-99.1 - EXHIBIT 99.1 - Education Realty Trust, Inc. | investorpresentationnare.htm |
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). | |||||||||||||||||||||