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    <TD align="left" valign="top">As filed with the Securities and Exchange Commission on July 28, 2006
</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Registration No.&nbsp;333-</DIV></TD>
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=========================================================================================================================
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<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>FORM S-8</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>REGISTRATION STATEMENT<BR>
UNDER THE SECURITIES ACT OF 1933</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EDUCATION REALTY TRUST, INC.</B><BR>
(Exact Name of Registrant as Specified in Its Charter)
</DIV>

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    <TD align="center" valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>MARYLAND</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top"><B>20-1352180</B></TD>
</TR>
<TR valign="bottom">
    <TD align="center" valign="top">(State or Other Jurisdiction of<BR>
Incorporation or Organization)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">(I.R.S. Employer<BR>
Identification No.)</TD>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>530 Oak Court Drive, Suite&nbsp;300<BR>
Memphis, Tennessee 38117<BR>
(901)&nbsp;259-2500</B><BR>
(Address of Principal Executive Offices)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Education Realty Trust, Inc. 2004 Incentive Plan</B><BR>
(Full Title of the Plan)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>Paul O. Bower<BR>
530 Oak Court Drive, Suite&nbsp;300<BR>
Memphis, Tennessee 38117<BR>
(901)&nbsp;259-2500</B><BR>
(Name and Address of Agent For Service)
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt">Copies to:<BR>
<B>John A. Good, Esq.<BR>
Bass, Berry &#038; Sims PLC<BR>
100 Peabody Place, Suite&nbsp;900<BR>
Memphis, Tennessee 38103<BR>
Telephone (901)&nbsp;543-5900</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>
</DIV>

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    <TD width="1%">&nbsp;</TD>
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    <TD nowrap align="left" colspan="23" style="border-bottom: 3px double #000000">&nbsp;</TD>
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    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed maximum</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Proposed maximum</TD>
    <TD>&nbsp;</TD>
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    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD nowrap align="left">Title of securities</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount to be</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">offering price per</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">aggregate offering</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">Amount of</TD>
    <TD>&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
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    <TD nowrap align="left">to be registered(1)</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">registered(1)</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">share(2)</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">price(2)</TD>
    <TD>&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="2">registration fee</TD>
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                    <TD style="border-top: 2px solid #000000"><DIV style="margin-left:15px; text-indent:-15px">Common Stock, $.01
par value per share</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD colspan="3" align="center" style="border-top: 2px solid #000000">800,000 shares</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">15.78</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">12,624,000</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="left" style="border-top: 2px solid #000000">$</TD>
    <TD align="right" style="border-top: 2px solid #000000">1,350.77</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<SUP style="font-size: 85%; vertical-align: text-top"> (1)</SUP> Pursuant to Rule 416(a) under the Securities Act, this Registration
Statement also covers an indeterminate number of additional shares of common stock as may be issued
as a result of adjustment by reason of a share dividend, share split, recapitalization or other
similar transaction effected without receipt of consideration that increases the number of
outstanding shares of the Registrant&#146;s Common Stock. In addition, pursuant to Rule 416(c) under the
Securities Act, this Registration Statement also covers an indeterminate amount of interests to be
offered or sold pursuant to the employee and non-employee benefit plans described herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP> Estimated solely for the purpose of determining the registration fee. This amount
was calculated in accordance with Rule 457(h) under the Securities Act and based upon the average
of the high and low sales prices of the registrant&#146;s common stock as reported on the New York Stock
Exchange on July 26, 2006.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
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<A name="toc"><DIV align="CENTER" style="page-break-before:always"><U><B>TABLE OF CONTENTS</B></U></DIV></A>

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<TR><TD colspan="9"><A HREF="#000">PART I</A></TD></TR>
<TR><TD colspan="9"><A HREF="#001">PART II</A></TD></TR>
<TR><TD colspan="9"><A HREF="#002">SIGNATURES</A></TD></TR>
<TR><TD colspan="9"><A HREF="#003">INDEX TO EXHIBITS</A></TD></TR>
<TR><TD colspan="9"><A HREF="g02571exv4w7.htm">Ex-4.7  First Amended and Restated Limited Liability Company Agreement</A></TD></TR>
<TR><TD colspan="9"><A HREF="g02571exv5.htm">Ex-5  Opinion of Venable LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="g02571exv23w1.htm">Ex-23.1  Consent of Deloitte & Touche LLP</A></TD></TR>
<TR><TD colspan="9"><A HREF="g02571exv23w2.htm">Ex-23.2  Consent of Reznick Group, P.C.</A></TD></TR>
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Information required by Part&nbsp;I to be contained in the Section 10(a) prospectus is omitted from this
Registration Statement in accordance with Rule&nbsp;428 under the Securities Act of 1933, as amended,
and the Note to Part&nbsp;I of Form S-8.
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Incorporation of Documents by Reference.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by the Registrant with the Securities and Exchange Commission
pursuant to the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), are hereby
incorporated by reference as of their respective dates:
</DIV>

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    <TD width="1%" nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Annual Report filed on Form 10-K for the year ended December&nbsp;31,
2005;</TD>
</TR>

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</DIV>

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    <TD width="1%" nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The Registrant&#146;s Quarterly Report filed on Form 10-Q for the quarter ended March
31, 2006;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
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    <TD width="1%" nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>All other reports of the Registrant filed pursuant to Section 13(a) or 15(d) of
the Exchange Act since December&nbsp;31, 2005 (but excluding all information furnished to the
Securities and Exchange Commission pursuant to Item&nbsp;2.01 and Item&nbsp;7.01 of any Current
Report on Form 8-K); and</TD>
</TR>

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    <TD width="1%" nowrap align="left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>The description of the Registrant&#146;s Common Stock, which is contained in a
registration statement on Form 8-A filed on January&nbsp;25, 2005 (File No.&nbsp;001-32417) under
the Exchange Act, including any amendment or report filed for the purpose of updating
such description prior to the termination of the offering of the Common Stock offered
hereby.</TD>
</TR>

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</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant pursuant to Sections&nbsp;13(a), 13(c), 14, and 15(d) of the
Exchange Act after the date hereof and prior to the filing of a post-effective amendment that
indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold shall be deemed to be incorporated by reference herein and to be a part
hereof from the date of filing of such documents. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or
superseded for purposes hereof to the extent that a statement contained herein (or in any other
subsequently filed document which also is incorporated by reference herein) modifies or supersedes
such statement. Any statement so modified or superseded shall not be deemed to constitute a part
hereof except as so modified or superseded.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Description of Securities.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;5. Interests of Named Experts and Counsel.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;6. Indemnification of Directors and Officers.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland law permits us to include in our charter a provision limiting the liability of our
directors and officers to us and our stockholders for money damages, except for liability resulting
from (i)&nbsp;actual receipt of an improper benefit or profit in money, property or services or (ii)
active and deliberate dishonesty established by a final judgment and material to the cause of
action. Our charter contains a provision that eliminates directors&#146; and officers&#146; liability to the
maximum extent permitted by Maryland law.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maryland law also requires a corporation (unless its charter provides otherwise, which our
charter does not) to indemnify a director or officer who has been successful, on the merits or
otherwise, in the defense of any proceeding to which he or she is made, or threatened to be made, a
party by reason of his or her service in that capacity. Corporations are permitted to indemnify
their present and former directors and officers, among others, against judgments, penalties, fines,
settlements and reasonable expenses actually incurred by them in connection with any proceeding to
which they may be made (or threatened to be made) a party by reason of their service in those or
other capacities unless it is established that:
</DIV>

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    <TD width="1%" nowrap align="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>an act or omission of the director or officer was material to the matter giving rise to
the proceeding and was committed in bad faith or was the result of active and deliberate
dishonesty;</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>the director or officer actually received an improper personal benefit in money,
property or services; or</TD>
</TR>

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</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>in the case of any criminal proceeding, the director or officer had reasonable cause to
believe that the act or omission was unlawful.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A Maryland corporation may not, and we will not, indemnify a director or officer for an
adverse judgment in a suit by or in right of the corporation or for a judgment of liability on the
basis that personal benefit was improperly received, unless in either case a court orders
indemnification and then only for expenses. In addition, Maryland law permits a corporation to,
and we will, advance reasonable expenses to a director or officer upon receipt of:
</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a written affirmation by the director or officer of his good faith belief that he or she
has met the standard of conduct necessary for indemnification; and</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>a written undertaking by the director or officer on the director&#146;s or officer&#146;s behalf
to repay the amount paid or reimbursed by the corporation if it is ultimately determined
that the director or officer did not meet the standard of conduct.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Bylaws obligate us, to the fullest extent permitted by Maryland law, to indemnify and,
without requiring a preliminary determination of the ultimate entitlement to indemnification, pay
or reimburse reasonable expenses in advance of final disposition of a proceeding to:
</DIV>

<DIV style="margin-top: 6pt">
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<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any present or former director or officer who is made, or threatened to be made, a party
to the proceeding by reason of his or her service in that capacity; or</TD>
</TR>

</TABLE>
</DIV>

<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="1%" nowrap align="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#149;</B></TD>
    <TD width="1%">&nbsp;</TD>
    <TD>any individual who, while serving as our director or officer and at our request, serves
or has served another corporation, real estate investment trust, partnership, joint
venture, trust, employee benefit plan or any other enterprise as a director, officer,
partner or trustee and who is made, or threatened to be made, a party to the proceeding by
reason of his or her service in that capacity.</TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our Bylaws also authorize us to indemnify and advance expenses to any person who served a
predecessor of ours in any of the capacities described above and to any person who served as an
employee or agent of us or our predecessor.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The partnership agreements of our Operating Partnership and University Towers Partnership
provide that we, as general partner of our Operating Partnership and University Towers Partnership,
and our officers and directors are indemnified to the fullest extent permitted by law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, we have entered into indemnification agreements with each of our executive
officers and directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as the foregoing provisions permit indemnification of directors, officers or persons
controlling us for liability arising under the Securities Act of 1933, as amended (the &#147;Securities
Act&#148;), the SEC has indicated that this indemnification is against public policy as expressed in the
Securities Act and is therefore unenforceable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;7. Exemption From Registration Claimed.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;8. Exhibits.</B>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">




<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See the Index to Exhibits following the signature pages hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;9. Undertakings.</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>A.&nbsp;</B>The undersigned registrant hereby undertakes:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1)&nbsp;To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to include any prospectus required by Section&nbsp;10(a)(3) of the Securities Act of
1933;
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to reflect in the prospectus any facts or events arising after the effective
date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in
the information set forth in the registration statement. Not withstanding the
foregoing, any increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering range may be
reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b)
if, in the aggregate, the changes in volume and price represent no more than a 20
percent change in the maximum aggregate offering price set forth in the &#147;Calculation
of Registration Fee&#148; table in the effective registration statement; and
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement; provided, however, that
clauses (i)&nbsp;and (ii)&nbsp;of this paragraph do not apply if the information required to be
included in a post-effective amendment by those clauses is contained in periodic
reports filed with or furnished to the Commission by the Registrant pursuant to
Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in the registration statement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;That, for the purpose of determining any liability under the Securities Act, each
such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial <I>bona fide </I>offering hereof.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3)&nbsp;To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>B.&nbsp;</B>The Registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the Registrant&#146;s annual report pursuant to Section 13(a) or Section
15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#146;s annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial <I>bona fide </I>offering thereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>C</B>.&nbsp;Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers, and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by
a director, officer, or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer, or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.
</DIV>

<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">
<!-- link1 "SIGNATURES" -->
<DIV align="left"><A NAME="002"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Memphis, State of Tennessee, on this 28th day of July, 2006.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>EDUCATION REALTY TRUST, INC.</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/<B>Paul O. Bower</B>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Paul O. Bower&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">President, Chief Executive Officer &#038; Chairman of the
Board of Directors&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;KNOW ALL MEN BY THESE PRESENTS, each person whose signature appears below hereby constitutes
and appoints Paul O. Bower and Randall H. Brown, his true and lawful attorneys-in-fact and agents,
with full power of substitution and resubstitution, for him and in his name, place, and stead, in
any and all capacities, to sign any and all amendments to this Registration Statement, and to file
the same, with the Securities and Exchange Commission, granting unto said attorney-in-fact and
agents full power and authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully to all intents and purposes as he might or
could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or
their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement on
Form S-8 has been signed by the following persons in the capacities and on the dates indicated:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="40%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="28%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Signature</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Title</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Date</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD align="center" nowrap valign="top"><DIV style="margin-left:0px; text-indent:-15px">/s/ Paul O. Bower
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Paul O. Bower</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
President and Chief Executive
Officer and Chairman of the
Board (Principal Executive
Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">July 28, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Randall H. Brown
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Randall H. Brown</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Executive Vice President,
Chief Financial Officer,
Treasurer  and Secretary
(Principal Financial Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">July 28, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ J. Drew Koester
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
J. Drew Koester</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Vice President and Chief
Accounting Officer (Principal
Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">July 28, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Monte J. Barrow
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Monte J. Barrow</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">July 28, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ William J. Cahill, III
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
William J. Cahill, III</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">July 28, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ Randall L. Churchey
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Randall L. Churchey</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">July 28, 2006</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" nowrap valign="top">/s/ John L. Ford
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
John L. Ford</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">July 28, 2006</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always"><A HREF="#toc">Table of Contents</A></H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<!-- link1 "INDEX TO EXHIBITS" -->
<DIV align="left"><A NAME="003"></A></DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INDEX TO EXHIBITS</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="74%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left">Exhibits</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left"></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="left" style="border-bottom: 1px solid #000000">Number</TD>
        <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3" style="border-bottom: 1px solid #000000">Description</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="center" valign="top">4.1</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form of Certificate for Common Stock of Education Realty Trust, Inc.
(Incorporated by reference to Exhibit&nbsp;4.1 to the Company&#146;s Amendment No.&nbsp;5 to its
Registration Statement on Form&nbsp;S-11 (File No.&nbsp;333-1192364),
filed January 24,
2005.)</DIV></TD>
</TR>
<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="center" valign="top">4.2</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Second Articles of Amendment and Restatement of Education Realty Trust, Inc.
(Incorporated by reference to Exhibit&nbsp;3.1 to the Company&#146;s Amendment No.&nbsp;2 to its
Registration Statement on Form&nbsp;S-11 (File No.&nbsp;333-1192364), filed on December&nbsp;10,
2004.)</DIV></TD>
</TR>

<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="center" valign="top">4.3</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Bylaws of Education Realty Trust, Inc. (Incorporated by reference to Exhibit&nbsp;3.2
to the Company&#146;s Registration Statement on Form&nbsp;S-11 (File No.&nbsp;333-119264), filed
on September&nbsp;24, 2004.)</DIV></TD>
</TR>

<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="center" valign="top">4.4</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form of Amended and Restated Agreement of Limited Partnership of Education Realty
Operating Partnership, LP. (Incorporated by reference to Exhibit&nbsp;10.1 to the
Company&#146;s Registration Statement on Form&nbsp;S-11 (File No.&nbsp;333-119264), filed on
September&nbsp;24, 2004.)</DIV></TD>
</TR>

<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="center" valign="top">4.5</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Form of Amended and Restated Agreement of Limited Partnership of University
Towers Operating Partnership, LP. (Incorporated by reference to Exhibit&nbsp;10.2 to
the Company&#146;s Registration Statement on Form&nbsp;S-11 (File No.&nbsp;333-119264), filed on
September&nbsp;24, 2004.)</DIV></TD>
</TR>

<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
     <TD nowrap valign="top">&nbsp;</TD>
     <TD align="center" valign="top">4.6</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Education Realty Trust, Inc. 2004 Incentive Plan. (Incorporated by reference to
Exhibit&nbsp;10.3 to the Company&#146;s Amendment No.&nbsp;4 to its Registration Statement on
Form&nbsp;S-11 (File No.&nbsp;333-1192364), filed on January&nbsp;11, 2005.)</DIV></TD>
</TR>


<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;4.7</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">First Amended and Restated Limited Liability Company Agreement of Education Realty Limited Partner LLC</DIV></TD>
</TR>



<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;5</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Opinion of Venable LLP</DIV></TD>
</TR>

<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="center" valign="top">23.1</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Deloitte &#038; Touche LLP, an Independent Registered Public Accounting Firm</DIV></TD>
</TR>

<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="center" valign="top">23.2</TD>
     <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Reznick Group, P.C., an Independent Registered Public Accounting Firm</DIV></TD>
</TR>

<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="center" valign="top">23.3</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Venable LLP (included in Exhibit&nbsp;5)</DIV></TD>
</TR>

<TR valign="bottom">
<TD>&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;&nbsp;24</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Power of Attorney (included on signature page of this Registration Statement)</DIV></TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

</BODY>
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Education Realty Trust, Inc.
Table of Contents
As filed with the Securities and Exchange Commission on July 28, 2006
Registration No. 333-
=========================================================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER THE SECURITIES ACT OF 1933
EDUCATION REALTY TRUST, INC.
(Exact Name of Registrant as Specified in Its Charter)
MARYLAND
20-1352180
(State or Other Jurisdiction of
Incorporation or Organization)
(I.R.S. Employer
Identification No.)
530 Oak Court Drive, Suite 300
Memphis, Tennessee 38117
(901) 259-2500
(Address of Principal Executive Offices)
Education Realty Trust, Inc. 2004 Incentive Plan
(Full Title of the Plan)
Paul O. Bower
530 Oak Court Drive, Suite 300
Memphis, Tennessee 38117
(901) 259-2500
(Name and Address of Agent For Service)
Copies to:
John A. Good, Esq.
Bass, Berry & Sims PLC
100 Peabody Place, Suite 900
Memphis, Tennessee 38103
Telephone (901) 543-5900
CALCULATION OF REGISTRATION FEE
Proposed maximum
Proposed maximum
Title of securities
Amount to be
offering price per
aggregate offering
Amount of
to be registered(1)
registered(1)
share(2)
price(2)
registration fee
Common Stock, $.01
par value per share
800,000 shares
$
15.78
$
12,624,000
$
1,350.77
(1)
Pursuant to Rule 416(a) under the Securities Act, this Registration
Statement also covers an indeterminate number of additional shares of common stock as may be issued
as a result of adjustment by reason of a share dividend, share split, recapitalization or other
similar transaction effected without receipt of consideration that increases the number of
outstanding shares of the Registrant's Common Stock. In addition, pursuant to Rule 416(c) under the
Securities Act, this Registration Statement also covers an indeterminate amount of interests to be
offered or sold pursuant to the employee and non-employee benefit plans described herein.
(2)
Estimated solely for the purpose of determining the registration fee. This amount
was calculated in accordance with Rule 457(h) under the Securities Act and based upon the average
of the high and low sales prices of the registrant's common stock as reported on the New York Stock
Exchange on July 26, 2006.
TABLE OF CONTENTS
PART I
PART II
SIGNATURES
INDEX TO EXHIBITS
Ex-4.7  First Amended and Restated Limited Liability Company Agreement
Ex-5  Opinion of Venable LLP
Ex-23.1  Consent of Deloitte & Touche LLP
Ex-23.2  Consent of Reznick Group, P.C.
Table of Contents
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
Information required by Part I to be contained in the Section 10(a) prospectus is omitted from this
Registration Statement in accordance with Rule 428 under the Securities Act of 1933, as amended,
and the Note to Part I of Form S-8.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference.
The following documents filed by the Registrant with the Securities and Exchange Commission
pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), are hereby
incorporated by reference as of their respective dates:
a.
The Registrant's Annual Report filed on Form 10-K for the year ended December 31,
2005;
b.
The Registrant's Quarterly Report filed on Form 10-Q for the quarter ended March
31, 2006;
c.
All other reports of the Registrant filed pursuant to Section 13(a) or 15(d) of
the Exchange Act since December 31, 2005 (but excluding all information furnished to the
Securities and Exchange Commission pursuant to Item 2.01 and Item 7.01 of any Current
Report on Form 8-K); and
d.
The description of the Registrant's Common Stock, which is contained in a
registration statement on Form 8-A filed on January 25, 2005 (File No. 001-32417) under
the Exchange Act, including any amendment or report filed for the purpose of updating
such description prior to the termination of the offering of the Common Stock offered
hereby.
All documents filed by the Registrant pursuant to Sections 13(a), 13(c), 14, and 15(d) of the
Exchange Act after the date hereof and prior to the filing of a post-effective amendment that
indicates that all securities offered hereby have been sold or which deregisters all securities
then remaining unsold shall be deemed to be incorporated by reference herein and to be a part
hereof from the date of filing of such documents. Any statement contained in a document
incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or
superseded for purposes hereof to the extent that a statement contained herein (or in any other
subsequently filed document which also is incorporated by reference herein) modifies or supersedes
such statement. Any statement so modified or superseded shall not be deemed to constitute a part
hereof except as so modified or superseded.
Item 4. Description of Securities.
Not applicable.
Item 5. Interests of Named Experts and Counsel.
Not applicable.
Item 6. Indemnification of Directors and Officers.
Maryland law permits us to include in our charter a provision limiting the liability of our
directors and officers to us and our stockholders for money damages, except for liability resulting
from (i) actual receipt of an improper benefit or profit in money, property or services or (ii)
active and deliberate dishonesty established by a final judgment and material to the cause of
action. Our charter contains a provision that eliminates directors' and officers' liability to the
maximum extent permitted by Maryland law.
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Maryland law also requires a corporation (unless its charter provides otherwise, which our
charter does not) to indemnify a director or officer who has been successful, on the merits or
otherwise, in the defense of any proceeding to which he or she is made, or threatened to be made, a
party by reason of his or her service in that capacity. Corporations are permitted to indemnify
their present and former directors and officers, among others, against judgments, penalties, fines,
settlements and reasonable expenses actually incurred by them in connection with any proceeding to
which they may be made (or threatened to be made) a party by reason of their service in those or
other capacities unless it is established that:
•
an act or omission of the director or officer was material to the matter giving rise to
the proceeding and was committed in bad faith or was the result of active and deliberate
dishonesty;
•
the director or officer actually received an improper personal benefit in money,
property or services; or
•
in the case of any criminal proceeding, the director or officer had reasonable cause to
believe that the act or omission was unlawful.
A Maryland corporation may not, and we will not, indemnify a director or officer for an
adverse judgment in a suit by or in right of the corporation or for a judgment of liability on the
basis that personal benefit was improperly received, unless in either case a court orders
indemnification and then only for expenses. In addition, Maryland law permits a corporation to,
and we will, advance reasonable expenses to a director or officer upon receipt of:
•
a written affirmation by the director or officer of his good faith belief that he or she
has met the standard of conduct necessary for indemnification; and
•
a written undertaking by the director or officer on the director's or officer's behalf
to repay the amount paid or reimbursed by the corporation if it is ultimately determined
that the director or officer did not meet the standard of conduct.
Our Bylaws obligate us, to the fullest extent permitted by Maryland law, to indemnify and,
without requiring a preliminary determination of the ultimate entitlement to indemnification, pay
or reimburse reasonable expenses in advance of final disposition of a proceeding to:
•
any present or former director or officer who is made, or threatened to be made, a party
to the proceeding by reason of his or her service in that capacity; or
•
any individual who, while serving as our director or officer and at our request, serves
or has served another corporation, real estate investment trust, partnership, joint
venture, trust, employee benefit plan or any other enterprise as a director, officer,
partner or trustee and who is made, or threatened to be made, a party to the proceeding by
reason of his or her service in that capacity.
Our Bylaws also authorize us to indemnify and advance expenses to any person who served a
predecessor of ours in any of the capacities described above and to any person who served as an
employee or agent of us or our predecessor.
The partnership agreements of our Operating Partnership and University Towers Partnership
provide that we, as general partner of our Operating Partnership and University Towers Partnership,
and our officers and directors are indemnified to the fullest extent permitted by law.
In addition, we have entered into indemnification agreements with each of our executive
officers and directors.
Insofar as the foregoing provisions permit indemnification of directors, officers or persons
controlling us for liability arising under the Securities Act of 1933, as amended (the "Securities
Act"), the SEC has indicated that this indemnification is against public policy as expressed in the
Securities Act and is therefore unenforceable.
Item 7. Exemption From Registration Claimed.
Not applicable.
Item 8. Exhibits.
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See the Index to Exhibits following the signature pages hereof.
Item 9. Undertakings.
A.
The undersigned registrant hereby undertakes:
(1) To file, during any period in which offers or sales are being made, a post-effective
amendment to this registration statement:
(i) to include any prospectus required by Section 10(a)(3) of the Securities Act of
1933;
(ii) to reflect in the prospectus any facts or events arising after the effective
date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in
the information set forth in the registration statement. Not withstanding the
foregoing, any increase or decrease in volume of securities offered (if the total
dollar value of securities offered would not exceed that which was registered) and any
deviation from the low or high end of the estimated maximum offering range may be
reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b)
if, in the aggregate, the changes in volume and price represent no more than a 20
percent change in the maximum aggregate offering price set forth in the "Calculation
of Registration Fee" table in the effective registration statement; and
(iii) to include any material information with respect to the plan of
distribution not previously disclosed in the registration statement or any material
change to such information in the registration statement; provided, however, that
clauses (i) and (ii) of this paragraph do not apply if the information required to be
included in a post-effective amendment by those clauses is contained in periodic
reports filed with or furnished to the Commission by the Registrant pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934 that are incorporated by
reference in the registration statement.
(2) That, for the purpose of determining any liability under the Securities Act, each
such post-effective amendment shall be deemed to be a new registration statement relating to
the securities offered therein, and the offering of such securities at that time shall be
deemed to be the initial
bona fide
offering hereof.
(3) To remove from registration by means of a post-effective amendment any of the
securities being registered which remain unsold at the termination of the offering.
B.
The Registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section
15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be
the initial
bona fide
offering thereof.
C
. Insofar as indemnification for liabilities arising under the Securities Act may be
permitted to directors, officers, and controlling persons of the Registrant pursuant to the
foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against public policy as expressed in
the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by
a director, officer, or controlling person of the Registrant in the successful defense of any
action, suit or proceeding) is asserted by such director, officer, or controlling person in
connection with the securities being registered, the Registrant will, unless in the opinion of its
counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it
has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and
has duly caused this Registration Statement on Form S-8 to be signed on its behalf by the
undersigned, thereunto duly authorized, in the City of Memphis, State of Tennessee, on this 28th day of July, 2006.
EDUCATION REALTY TRUST, INC.
By:
/s/
Paul O. Bower
Paul O. Bower
President, Chief Executive Officer & Chairman of the
Board of Directors
KNOW ALL MEN BY THESE PRESENTS, each person whose signature appears below hereby constitutes
and appoints Paul O. Bower and Randall H. Brown, his true and lawful attorneys-in-fact and agents,
with full power of substitution and resubstitution, for him and in his name, place, and stead, in
any and all capacities, to sign any and all amendments to this Registration Statement, and to file
the same, with the Securities and Exchange Commission, granting unto said attorney-in-fact and
agents full power and authority to do and perform each and every act and thing requisite and
necessary to be done in and about the premises, as fully to all intents and purposes as he might or
could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents, or
their substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement on
Form S-8 has been signed by the following persons in the capacities and on the dates indicated:
Signature
Title
Date
/s/ Paul O. Bower
Paul O. Bower
President and Chief Executive
Officer and Chairman of the
Board (Principal Executive
Officer)
July 28, 2006
/s/ Randall H. Brown
Randall H. Brown
Executive Vice President,
Chief Financial Officer,
Treasurer  and Secretary
(Principal Financial Officer)
July 28, 2006
/s/ J. Drew Koester
J. Drew Koester
Vice President and Chief
Accounting Officer (Principal
Accounting Officer)
July 28, 2006
/s/ Monte J. Barrow
Monte J. Barrow
Director
July 28, 2006
/s/ William J. Cahill, III
William J. Cahill, III
Director
July 28, 2006
/s/ Randall L. Churchey
Randall L. Churchey
Director
July 28, 2006
/s/ John L. Ford
John L. Ford
Director
July 28, 2006
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INDEX TO EXHIBITS
Exhibits
Number
Description
4.1
Form of Certificate for Common Stock of Education Realty Trust, Inc.
(Incorporated by reference to Exhibit 4.1 to the Company's Amendment No. 5 to its
Registration Statement on Form S-11 (File No. 333-1192364),
filed January 24,
2005.)
4.2
Second Articles of Amendment and Restatement of Education Realty Trust, Inc.
(Incorporated by reference to Exhibit 3.1 to the Company's Amendment No. 2 to its
Registration Statement on Form S-11 (File No. 333-1192364), filed on December 10,
2004.)
4.3
Bylaws of Education Realty Trust, Inc. (Incorporated by reference to Exhibit 3.2
to the Company's Registration Statement on Form S-11 (File No. 333-119264), filed
on September 24, 2004.)
4.4
Form of Amended and Restated Agreement of Limited Partnership of Education Realty
Operating Partnership, LP. (Incorporated by reference to Exhibit 10.1 to the
Company's Registration Statement on Form S-11 (File No. 333-119264), filed on
September 24, 2004.)
4.5
Form of Amended and Restated Agreement of Limited Partnership of University
Towers Operating Partnership, LP. (Incorporated by reference to Exhibit 10.2 to
the Company's Registration Statement on Form S-11 (File No. 333-119264), filed on
September 24, 2004.)
4.6
Education Realty Trust, Inc. 2004 Incentive Plan. (Incorporated by reference to
Exhibit 10.3 to the Company's Amendment No. 4 to its Registration Statement on
Form S-11 (File No. 333-1192364), filed on January 11, 2005.)
4.7
First Amended and Restated Limited Liability Company Agreement of Education Realty Limited Partner LLC
5
Opinion of Venable LLP
23.1
Consent of Deloitte & Touche LLP, an Independent Registered Public Accounting Firm
23.2
Consent of Reznick Group, P.C., an Independent Registered Public Accounting Firm
23.3
Consent of Venable LLP (included in Exhibit 5)
24
Power of Attorney (included on signature page of this Registration Statement)