Campus Crest Communities, Inc. (NYSE:CCG) announces that it will be attending the 5th Annual InterFace Student Housing Conference in Austin, TX April 10th – 12th. Ted W. Rollins, Co-Chairman of the Board and Chief Executive Officer, will be a participant on the Buy-Sell-Hold panel on Thursday, April 11th from 8:30 – 9:20 a.m. CST.
Also, in conjunction with the Interface Conference, the Company is providing an update on its portfolio leasing status for the 2013/2014 academic year. The following table contains the leasing status as of April 9, 2013 and 2012:
|Total 2013 Delivereis||6||1,314||3,564||1,765||49.5%||n/a||n/a||n/a|
|Total Copper Beech Portfolio||35||6,242||16,645||12,093||72.7%||n/a||n/a||n/a|
|Note: Excludes The Grove at Cira Centre South, which will begin pre-leasing in the Fall of 2013 for a Fall 2014 opening|
“Our teams are diligently working on obtaining lender consents so we can fully close on our 48% interest investment in Copper Beech,” remarked Ted W. Rollins, Co-Chairman of the Board and Chief Executive Officer. “At both our legacy and Copper Beech portfolios, we are pleased with the 2013/2014 academic year pre-leasing results, and our teams across the country remain energized.”
About Campus Crest Communities, Inc.
Campus Crest Communities, Inc. is a leading developer, builder, owner and manager of high-quality student housing properties located close to college campuses in targeted U.S. markets. The Company is a self-managed, self-administered and vertically-integrated real estate investment trust which operates under a multi-brand strategy. Since inception in 2004, the Company has developed student housing under The Grove® brand, which focuses on customer service, privacy, on-site amenities and a proprietary residence life program that provide college students across the United States with a higher quality of living. The Company owns interests in 39 Grove® operating student housing properties containing approximately 20,884 beds, and plans to deliver six projects containing approximately 3,564 beds in the third quarter of 2013. Additionally, the Company is developing a 33-story Grove® student housing tower in Philadelphia, PA containing approximately 850 beds for delivery in the third quarter of 2014. In February 2013, the Company added an additional brand with the announcement of the phased acquisition of Copper Beech Townhome Communities, a vertically-integrated student housing operator with over 16,000 beds. The Copper Beech brand and townhome product targets students looking for front door-back porch living accommodations, and is a great compliment to the existing Grove® brand. The Company expects to complete its initial 48% interest investment in Copper Beech by the end of third quarter of 2013. Additional information on The Grove® and Copper Beech product can be found on the Company's website at http://www.campuscrest.com.