<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Washington,
DC 20549</FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>CURRENT
REPORT </B></FONT><B>PURSUANT </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO SECTION 13 OR 15(D) OF THE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of report (Date of earliest event reported):
May 22, 2012</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">Education
Realty Trust, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in
Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; text-align: center; font-weight: bold">Maryland</TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; font-weight: bold; text-align: center">001-32417</TD>
    <TD STYLE="width: 2%; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; font-weight: bold; text-align: center">20-1352180</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">(State or Other Jurisdiction of Incorporation)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; text-align: center">(Commission File Number)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(IRS Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>999 South Shady Grove Road, Suite 600
        </B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Memphis, Tennessee</P></TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>38120</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="text-align: center">(Address of Principal Executive Offices)</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">(Zip Code)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid"><B>901-259-2500</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Registrant&rsquo;s Telephone Number, Including
Area Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.75pt solid">Not
Applicable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (<I>see </I>General Instruction A.2. below):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">o</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">o</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">o</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><FONT STYLE="font-family: Wingdings">o</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01. Other Events</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">On May 22, 2012, Education Realty Trust, Inc. (the &ldquo;<B><I>Company</I></B>&rdquo;)
and Education Realty Operating Partnership, LP entered into separate Equity Distribution Agreements (the &ldquo;<B><I>Agreements</I></B>&rdquo;)
with each of KeyBanc Capital Markets Inc. (&ldquo;<B><I>KeyBanc</I></B>&rdquo;) and RBC Capital Markets, LLC (&ldquo;<B><I>RBC</I></B>&rdquo;
and together with KeyBanc, the &ldquo;<B><I>Sales Agents</I></B>&rdquo;). Pursuant to the terms and conditions of the Agreements,
the Company may, from time to time, issue and sell through or to the Sales Agents, as sales agents and/or principals, shares of
its common stock, $0.01 par value per share, having an aggregate offering amount of up to $50,000,000 (the &ldquo;<B><I>Shares</I></B>&rdquo;).
Sales of the Shares, if any, will depend upon market conditions and other factors to be determined by the Company and may be made
in transactions that are deemed to be &ldquo;at-the-market&rdquo; offerings as defined in Rule 415 under the Securities Act of
1933, as amended, including sales made by means of ordinary brokers&rsquo; transactions, including on the New York Stock Exchange,
at market prices or as otherwise agreed to with the Sales Agents (the &ldquo;<B><I>2012 Program</I></B>&rdquo;). The Company has
no obligation to sell any of the Shares, and may at any time suspend offers under the Agreements or terminate the Agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each Sales Agent will be entitled to a commission that will
not exceed, but may be lower than, 2% of the gross offering proceeds of Shares sold through it as sales agent. Under the terms
of each Agreement, the Company also may sell Shares to each Sales Agent as principal, pursuant to a separate agreement, for its
own account at a price agreed upon in writing at the time of sale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Each of the Sales Agents has agreed, subject to the terms and
conditions of the Agreements, to use its commercially reasonable efforts to execute any order that the Company submits to it under
the applicable Agreement and with respect to which such Sales Agent has agreed to act as the Company&rsquo;s sales agent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company intends to use any net proceeds from the sale of
its Shares under the Agreements for funding or partially funding the acquisition or the development of collegiate housing communities,
the improvement of collegiate housing communities, the repayment of debt or for general corporate purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Shares will be issued pursuant to the Company&rsquo;s shelf
registration statement on Form S-3 (File No. 333-161493), and a prospectus supplement relating to the Shares will be filed with
the Securities and Exchange Commission. This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the Shares in any state in which such offer, solicitation or sale would be unlawful
prior to registration of qualification under the securities laws of any such state.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">As previously disclosed in the Company&rsquo;s filings with
the Securities and Exchange Commission, on September 20, 2011, the Company entered into an equity distribution agreement, pursuant
to which the Company could issue and sell shares of its common stock having an aggregate offering amount of up to $50 million (the
&ldquo;<B><I>2011 Program</I></B>&rdquo;). As of May 21, 2012, the Company had sold an aggregate of 4,373,700 shares of common
stock pursuant to the 2011 Program for gross proceeds of approximately $45.1 million and net proceeds of approximately $44.5 million.
The 2011 Program automatically terminates upon the sale of shares of common stock for aggregate gross proceeds of $50 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><B>Item 9.01. Financial Statements
and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">(d) <I>Exhibits</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; font-weight: bold; background-color: White">Exhibit No.</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="width: 83%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; font-weight: bold; background-color: White">Description</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">1.1</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Equity Distribution Agreement dated May 22, 2012 among Education Realty Trust, Inc., Education Realty Operating Partnership, LP and KeyBanc Capital Markets Inc.</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">1.2</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Equity Distribution Agreement dated May 22, 2012 among Education Realty Trust, Inc., Education Realty Operating Partnership, LP and RBC Capital Markets, LLC.</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">5.1</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Opinion of Venable LLP regarding legality of shares.</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">8.1</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Opinion of Bass, Berry &amp; Sims PLC regarding tax matters.</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">23.1</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Consent of Venable LLP (included in Exhibit 5.1).</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">23.2</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Consent of Bass, Berry &amp; Sims PLC (included in Exhibit 8.1).</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: justify"><B>EDUCATION REALTY TRUST, INC.</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; text-align: justify">Date: May 22, 2012</TD>
    <TD STYLE="width: 5%; padding-right: -4.5pt; text-align: justify">By:</TD>
    <TD STYLE="width: 45%; border-bottom: black 1pt solid; text-align: justify">/s/ Randall H. Brown</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Randall H. Brown</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Executive Vice President, Chief Financial
        Officer, </I></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Treasurer and Secretary</I>&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INDEX TO EXHIBITS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; font-weight: bold; background-color: White">Exhibit No.</TD>
    <TD STYLE="width: 2%; padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="width: 83%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; font-weight: bold; background-color: White">Description</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">1.1</TD>
    <TD ROWSPAN="2" STYLE="padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Equity Distribution Agreement dated May 22, 2012 among Education Realty Trust, Inc., Education Realty Operating Partnership, LP and KeyBanc Capital Markets Inc.</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">1.2</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Equity Distribution Agreement dated May 22, 2012 among Education Realty Trust, Inc., Education Realty Operating Partnership, LP and RBC Capital Markets, LLC.</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">5.1</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Opinion of Venable LLP regarding legality of shares.</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">8.1</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Opinion of Bass, Berry &amp; Sims PLC regarding tax matters.</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">23.1</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Consent of Venable LLP (included in Exhibit 5.1).</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 5.4pt; text-align: center; background-color: White">23.2</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; background-color: White">Consent of Bass, Berry &amp; Sims PLC (included in Exhibit 8.1).</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "v314178_8k.htm", "description": "FORM 8-K", "secsgml_size_bytes": 23696}]
{"company-data": {"conformed-name": "Education Realty Trust, Inc.", "cik": "0001302343", "assigned-sic": "6798", "irs-number": "201352180", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-32417", "film-number": "12862590"}, "business-address": {"street1": "999 SOUTH SHADY GROVE ROAD,", "street2": "SUITE 600", "city": "MEMPHIS", "state": "TN", "zip": "38120", "phone": "(901) 259-2500"}, "mail-address": {"street1": "999 SOUTH SHADY GROVE ROAD,", "street2": "SUITE 600", "city": "MEMPHIS", "state": "TN", "zip": "38120"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM 8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported):
May 22, 2012
Education
Realty Trust, Inc.
(Exact Name of Registrant as Specified in
Its Charter)
Maryland
001-32417
20-1352180
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
999 South Shady Grove Road, Suite 600
Memphis, Tennessee
38120
(Address of Principal Executive Offices)
(Zip Code)
901-259-2500
(Registrant's Telephone Number, Including
Area Code)
Not
Applicable
(Former Name or Former Address, if Changed
Since Last Report)
Check the appropriate
box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (
see
General Instruction A.2. below):
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01. Other Events
On May 22, 2012, Education Realty Trust, Inc. (the "
Company
")
and Education Realty Operating Partnership, LP entered into separate Equity Distribution Agreements (the "
Agreements
")
with each of KeyBanc Capital Markets Inc. ("
KeyBanc
") and RBC Capital Markets, LLC ("
RBC
"
and together with KeyBanc, the "
Sales Agents
"). Pursuant to the terms and conditions of the Agreements,
the Company may, from time to time, issue and sell through or to the Sales Agents, as sales agents and/or principals, shares of
its common stock, $0.01 par value per share, having an aggregate offering amount of up to $50,000,000 (the "
Shares
").
Sales of the Shares, if any, will depend upon market conditions and other factors to be determined by the Company and may be made
in transactions that are deemed to be "at-the-market" offerings as defined in Rule 415 under the Securities Act of
1933, as amended, including sales made by means of ordinary brokers' transactions, including on the New York Stock Exchange,
at market prices or as otherwise agreed to with the Sales Agents (the "
2012 Program
"). The Company has
no obligation to sell any of the Shares, and may at any time suspend offers under the Agreements or terminate the Agreements.
Each Sales Agent will be entitled to a commission that will
not exceed, but may be lower than, 2% of the gross offering proceeds of Shares sold through it as sales agent. Under the terms
of each Agreement, the Company also may sell Shares to each Sales Agent as principal, pursuant to a separate agreement, for its
own account at a price agreed upon in writing at the time of sale.
Each of the Sales Agents has agreed, subject to the terms and
conditions of the Agreements, to use its commercially reasonable efforts to execute any order that the Company submits to it under
the applicable Agreement and with respect to which such Sales Agent has agreed to act as the Company's sales agent.
The Company intends to use any net proceeds from the sale of
its Shares under the Agreements for funding or partially funding the acquisition or the development of collegiate housing communities,
the improvement of collegiate housing communities, the repayment of debt or for general corporate purposes.
The Shares will be issued pursuant to the Company's shelf
registration statement on Form S-3 (File No. 333-161493), and a prospectus supplement relating to the Shares will be filed with
the Securities and Exchange Commission. This Current Report on Form 8-K shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the Shares in any state in which such offer, solicitation or sale would be unlawful
prior to registration of qualification under the securities laws of any such state.
As previously disclosed in the Company's filings with
the Securities and Exchange Commission, on September 20, 2011, the Company entered into an equity distribution agreement, pursuant
to which the Company could issue and sell shares of its common stock having an aggregate offering amount of up to $50 million (the
"
2011 Program
"). As of May 21, 2012, the Company had sold an aggregate of 4,373,700 shares of common
stock pursuant to the 2011 Program for gross proceeds of approximately $45.1 million and net proceeds of approximately $44.5 million.
The 2011 Program automatically terminates upon the sale of shares of common stock for aggregate gross proceeds of $50 million.
Item 9.01. Financial Statements
and Exhibits.
(d)
Exhibits
.
Exhibit No.
Description
1.1
Equity Distribution Agreement dated May 22, 2012 among Education Realty Trust, Inc., Education Realty Operating Partnership, LP and KeyBanc Capital Markets Inc.
1.2
Equity Distribution Agreement dated May 22, 2012 among Education Realty Trust, Inc., Education Realty Operating Partnership, LP and RBC Capital Markets, LLC.
5.1
Opinion of Venable LLP regarding legality of shares.
8.1
Opinion of Bass, Berry & Sims PLC regarding tax matters.
23.1
Consent of Venable LLP (included in Exhibit 5.1).
23.2
Consent of Bass, Berry & Sims PLC (included in Exhibit 8.1).
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
EDUCATION REALTY TRUST, INC.
Date: May 22, 2012
By:
/s/ Randall H. Brown
Randall H. Brown
Executive Vice President, Chief Financial
        Officer,
Treasurer and Secretary
INDEX TO EXHIBITS
Exhibit No.
Description
1.1
Equity Distribution Agreement dated May 22, 2012 among Education Realty Trust, Inc., Education Realty Operating Partnership, LP and KeyBanc Capital Markets Inc.
1.2
Equity Distribution Agreement dated May 22, 2012 among Education Realty Trust, Inc., Education Realty Operating Partnership, LP and RBC Capital Markets, LLC.
5.1
Opinion of Venable LLP regarding legality of shares.
8.1
Opinion of Bass, Berry & Sims PLC regarding tax matters.
23.1
Consent of Venable LLP (included in Exhibit 5.1).
23.2
Consent of Bass, Berry & Sims PLC (included in Exhibit 8.1).