CCG Updates 2013/2014 Pre-Leasing Before NAREIT Conference
June 04 2013 - 7:47AM
Business Wire
Campus Crest Communities, Inc. (NYSE:CCG) announces that it will
be attending the NAREIT Conference in Chicago, IL, June 5th – 6th.
Ted W. Rollins, Co-Chairman of the Board and Chief Executive
Officer, will give a company presentation on Thursday, June 6th
from 8:45 – 9:15 a.m. CST.
Also, in conjunction with the 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 June 2, 2013 and 2012:
2013/2014 2012/2013
Expected Rate
Property Properties Units
Beds Signed %
Signed %
Increase
Operating Wholly-Owned 32 6,248 16,936 12,165 71.8%
12,095 71.4% 1.7% Joint Venture 7 1,422
3,948 2,412 61.1% 2,221 56.3%
1.5%
Total Operating 39 7,670
20,884 14,577 69.8% 14,316 68.6%
1.7% 2013 Deliveries Wholly-Owned (1) 3 650
1,972 1,387 70.3% n/a n/a n/a Joint Venture
3
664 1,784 1,063 59.6% n/a
n/a n/a
Total 2013 Deliveries
6 1,314 3,756 2,450 65.2%
n/a n/a n/a Total Copper Beech
Portfolio 35 6,242 16,645 13,429
80.7% n/a n/a n/a
Total Portfolio
80 15,226 41,285
30,456 73.8% 14,316
68.6% n/a
Note: Excludes The Grove at Cira Centre
South, The Grove at Louisville and The Grove at Greensboro which
will begin pre-leasing in the fall of 2013 for a fall 2014 opening;
additionally excludes the re-development at Toledo, OH, which was
31.6% pre-leased as of 06/02/2013.
(1) In Academic Year 2013/2014, includes 192-bed phase II at the
Grove at Flagstaff, AZ
“Our teams are focused and delivering solid results demonstrated
by our pre-leasing for the 2013/2014 academic year that now
outpaces the prior year results in both our wholly-owned and joint
venture operating properties. They are also doing this while
maintaining rental rate increases consistent with our
expectations,” remarked Ted W. Rollins, Co-Chairman of the Board
and Chief Executive Officer. “At both our Grove and Copper Beech
portfolios, we are pleased with the pre-leasing results. Our teams
across the country remain energized and if you look at the results
of the combined organization, it is impressive.”
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. It has
ownership interests in 84 student housing properties and over
44,000 beds across the United States, of which 72 are operating and
12 are development or redevelopment properties. The Company is an
equity REIT that differentiates itself through its vertical
integration and consistent branding across the portfolio through
two unique brands targeting different segments of the college
student population. The Grove® brand offers more traditional
apartment floor plans and focuses on customer service, privacy,
on-site amenities and a proprietary residence life program. The
Copper Beech brand and townhome product offers more
residential-type living to students looking for a larger floor plan
with a front door and back porch. Additional information can be
found on the Company's website at http://www.campuscrest.com.
Campus Crest Communities, Inc.Thomas Nielsen,
704-496-2571Investor.Relations@CampusCrest.com
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