CCG Campus Crest Communities, Inc.

Campus Crest Communities, Inc. (NYSE: CCG) (the “Company”) today announced that it closed on the sale of four wholly-owned student housing properties on December 27, 2013. The four Grove-branded properties were unencumbered and generated net proceeds to the Company of approximately $50.0 million. Based on the Company’s 2013 NOI estimate for these properties, the estimated weighted average nominal cap rate on the dispositions was approximately 7.6%.

Property Name University

Year

Opened

  Units   Beds  

Distance

(miles)

  Enrollment   Tuition           Dispositions The Grove at Jacksonville, AL Jacksonville State University 2007 192 504 0.2 9,161 $7,950 The Grove at Jonesboro, AR Arkansas State University 2008 192 504 0.3 13,877 6,934 The Grove at Wichita, KS Wichita State University 2008 192 504 1.1 14,893 5,418 The Grove at Wichita Falls, TX Midwestern State University 2008   192   504   1.2   5,916   7,238 Total / Median / Average (1) 768 2,016 0.7 10,962 $6,885   (1) Reflects total units and beds, median distance to campus, and average enrollment and tuition

For the twelve months ended September 30, 2013, occupancy for the four dispositions was 87.3%, total RevPOB was $446 and NOI margin was 41.1%. By comparison, occupancy, total RevPOB and NOI margin for the Company’s remaining 28 wholly-owned operating properties during the same period were 92.8%, $514 and 55.8%, respectively.

“These dispositions reflect our commitment to continually improve the quality of our portfolio by selling older generation, non-core assets with lower long-term NOI growth prospects compared to our core portfolio,” said Ted W. Rollins, the Company’s Chairman and Chief Executive Officer. “Dispositions are currently an attractive source of capital, and we plan to recycle a portion of the proceeds into higher yielding developments, as well as pay down a portion of our outstanding credit facility balance in the interim."

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 markets. Pro forma for the Copper Beech restructure, the Company has ownership interests in 78 student housing properties and over ~42,000 beds across North America, of which 70 are operating and 8 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 three 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. The evo brand provides urban students with a luxury student housing option with all the conveniences of city living. Additional information can be found on the Company's website at http://www.campuscrest.com/.

Forward-Looking Statements

This press release, together with other statements and information publicly disseminated by Campus Crest, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Campus Crest intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts” or “potential” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. You should not rely on forward-looking statements since they involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond Campus Crest’s control that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect Campus Crest’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, except as otherwise required by federal securities laws, Campus Crest disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause Campus Crest future results to differ materially from any forward-looking statements, see the risk factors discussed in Campus Crest most recent Annual Report on Form 10-K and in the prospectus supplement relating to the offering referred to in this press release.

Campus Crest Communities, Inc.Thomas Nielsen, Investor Relations704-496-2571