Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Education Realty Trust, Inc. | a8-kforpreleasingstatistic.htm |
Fall 2014 Preleasing Summary |  | ||||||||||||||||||||
Design Beds | % of NOI | 2013 Opening Occupancy | Preleasing at April 6, | Preleasing Ahead/(Behind) | Projected Rate Growth | ||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Same-Communities - by Tier | |||||||||||||||||||||
Prior Year Occupancy Below 90% (Tier 1) | 4,173 | 13.2 | % | 82.7 | % | 52.9 | % | 43.5 | % | 9.4 | % | (0.5 | )% | ||||||||
Prior Year Occupancy 90% to 94.9% (Tier 2) | 5,992 | 26.6 | % | 92.3 | % | 55.8 | % | 49.8 | % | 6.0 | % | 1.0 | % | ||||||||
Prior Year Occupancy 95% to 97.9% (Tier 3) | 5,514 | 21.1 | % | 96.4 | % | 58.9 | % | 57.6 | % | 1.3 | % | 3.1 | % | ||||||||
Subtotal - Tiers 1 - 3 | 15,679 | 60.9 | % | 91.2 | % | 56.1 | % | 50.9 | % | 5.2 | % | ||||||||||
Prior Year Occupancy 98% and Above (Tier 4) | 8,235 | 39.1 | % | 99.8 | % | 83.2 | % | 83.6 | % | (0.4 | )% | 2.8 | % | ||||||||
Total Same-Communities (1) | 23,914 | 100.0 | % | 94.2 | % | 65.4 | % | 62.2 | % | 3.2 | % | 2.0 | % | ||||||||
Total New-Communities | 3,024 | 65.8 | % | ||||||||||||||||||
Total Communities | 26,938 | 65.5 | % | ||||||||||||||||||
Projected Fall Revenue: | |||||||||||||||||||||
Based on current leasing velocity shown above and individual market conditions, we are projecting fall revenue to be up 3% to 4%, including a 1% to 2% increase in occupancy and an approximate 2% growth in net rental rates. | |||||||||||||||||||||
NOTE: Leasing update does not include 601 same-community and 2,381 new-community beds at the University of Kentucky. Although the university's assignment process does not occur until May, all 2,982 beds, which include the 601 beds delivered in 2013, are currently 160% applied for this fall. | |||||||||||||||||||||
(1) The same-community designation for leasing purposes is different than for financial statement purposes. A community is considered same-community for leasing when the Company has managed the leasing process for at least two leasing cycles, including the Fall 2014 lease cycle. | |||||||||||||||||||||