CCG Updates 2014/2015 Pre-leasing Before NAREIT Conference
June 02 2014 - 4:01PM
Business Wire
Campus Crest Communities, Inc. (NYSE:CCG) announces that it will
be attending the NAREIT REITWeek Conference in New York, NY June
3rd – 4th. Ted W. Rollins, Chairman and Chief Executive Officer,
will give a company presentation on Tuesday, June 3th from 3:00 –
3:45 p.m. EST. The live webcast will be available online in the
Investor Relations section of the company's website at
www.campuscrest.com on the day of the conference. An online replay
of the webcast will be available for 90 days.
Also, in conjunction with the conference, the Company is
providing an update on its portfolio leasing status for the
2014/2015 academic year. The following table contains the leasing
status as of May 29, 2014 and 2013:
2014/2015 Academic Year Leasing Summary
2014 - 2015
Leases
2013 - 2014
Leases
Rental Rate Property Properties
Units Beds
Signed (3)
% Signed
(3) %
Change Change
Operating (1) Wholly-Owned 32 6,400
17,476 13,312 76.2% 12,490 71.5% 4.7% n/a HSRE Joint Venture
9 1,870 5,148
3,177 61.7%
3,022 58.7%
3.0% n/a
Total
Operating 41 8,270 22,624 16,489
72.9% 15,512 68.6% 4.3% 1.0% -
2.0% Copper Beech Portfolio 28
5,047 13,177 10,882 82.6% 11,391
86.4% (3.8%) 0.0% - 1.0%
Total Operating Portfolio
69 13,317
35,801 27,371
76.5%
26,903 75.1%
1.4% n/a
Total 2014
Deliveries (2) 10
3,128 7,455
2,569 34.5%
n/a n/a
n/a n/a
(1) Includes 2013 deliveries. (2)
Includes both wholly-owned and joint venture 2014 deliveries;
excludes the redevelopment at Toledo, OH. (3) As of May 29, 2014
and 2013, respectively.
“We are pleased with the direction of our pre-leasing and the
markets we serve. Our Copper Beech investment integration continues
to make steady progress and our evo brands are preparing for their
inaugural year,” remarked Ted W. Rollins, Chairman and Chief
Executive Officer. “Our teams are stronger than they have been in
our history and we are poised to continue to maximize our operating
portfolio to yield the best returns.”
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 80 student housing properties and over 43,000 beds
across North America, of which 70 are operating and 10 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 the Company, 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. The Company 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 the Company's control, that
may cause actual results to differ significantly from those
expressed in any forward-looking statement. All forward-looking
statements reflect the Company's good faith beliefs, assumptions
and expectations, but they are not guarantees of future
performance. Furthermore, except as otherwise required by federal
securities laws, the Company 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 the Company's future
results to differ materially from any forward-looking statements,
see the risk factors discussed in the Company's most recent Annual
Report on Form 10-K, as updated in the Company’s Quarterly Reports
on Form 10-Q.
Campus Crest Communities, Inc.Investor Relations,
704-496-2571
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