NEW YORK, March 13, 2015 /PRNewswire/ -- Clinton
Group, Inc. ("Clinton Group" or "CGI"), a stockholder of Campus
Crest Communities, Inc. ("Campus Crest", "CCG" or the "Company")
(NYSE: CCG), and Campus Evolution Villages, LLC ("Campus Evolution
Villages" or "CEV" and together with CGI, the "Clinton/Campus
Evolution Group"), a leading private owner and operator of student
housing assets, filed a presentation earlier today describing their
perspectives on the Company.
"We wanted to detail our case for change and plans for the
future for the benefit of all existing and potential shareholders
in advance of the Company's record date on March 20th. As I have stated
previously, notwithstanding our plan, our nominees will not stand
in the way of a bona fide change of control transaction at a market
clearing price," stated Joseph A. De
Perio, Senior Portfolio Manager at Clinton Group. De Perio
continued "The Company has been without a permanent CEO for five
months and there is virtually no student housing expertise at the
Board and executive level. It is imperative to get student housing
management expertise into the C-suite immediately, as this will
help stabilize the operations in the near term and make the Company
more attractive for a potential sale."
"As set forth in detail in the presentation, Campus Evolution
Villages will bring much needed student housing leadership, sector
specific operating expertise and culture that we believe are sorely
needed at the Company to restore shareholder value," noted
Andrew Stark, Chief Executive
Officer of Campus Evolution Villages.
"We have the ability to come in, work with and empower employees
by providing them the tools and strategies that will allow the
Company to achieve a greater level of success," added Evan Denner, Chief Investment Officer at Campus
Evolution Villages.
A link to the PDF version of presentation can be found here:
http://www.sec.gov/Archives/edgar/data/1490983/000090266415001732/0000902664-15-001732-index.htm
About Clinton Group, Inc.
Clinton Group, Inc. is a diversified asset management firm that
is a Registered Investment Advisor. The firm has been investing in
global markets since its inception in 1991 with expertise that
spans a wide range of investment styles and asset classes.
About Campus Evolution Villages, LLC
Campus Evolution Villages is a singularly focused student
housing management company; a thought leader and change agent
setting a new standard in student living that goes beyond merely
heads in beds. Its senior management team has more than 25 years of
experience in serving the student demographic. Campus Evolution
Villages' specialized focus and customer-centric approach gives it
a unique perspective on the particular needs and challenges of
managing student housing. Campus Evolution Villages owns and/or
manages approximately 10,000 beds today at 20 universities from
San Diego, California to
Clemson, South Carolina.
CEV and its principals have a proven track-record in student
housing, commercial and residential real estate finance and
development, and in growing successful operating real estate
platforms, which gives it a unique insight into the nuances of
student housing. The principals of CEV are seasoned leaders with
turn-around and growth experience at both the corporate and asset
level and also with significant exposure to the capital markets,
including public company and shareholder know-how. CEV has
wide-ranging student housing management experience and strong
relationships with owners, universities and other institutions.
Top-down leadership and brand building, with culture immersion and
training, has separated CEV from its peers; CEV understands that
student housing is a management-intensive operating business
requiring a cohesive team at all touch-points focused on the
experiential nature of student housing.
CLINTON RELATIONAL OPPORTUNITY MASTER FUND, L.P., CLINTON
RELATIONAL OPPORTUNITY, LLC, GEH CAPITAL, INC., CLINTON GROUP, INC.
AND GEORGE E. HALL (COLLECTIVELY,
"CLINTON"), SCOTT R. ARNOLD,
RANDALL H. BROWN, WILLIAM A. FINELLI
AND RAYMOND MIKULICH (THE "NOMINEES") AND CAMPUS EVOLUTION
VILLAGES, LLC, EVAN DENNER AND ANDREW STARK (TOGETHER WITH CLINTON
AND THE NOMINEES, THE "PARTICIPANTS") INTEND TO FILE WITH THE
SECURITIES AND EXCHANGE COMMISSION (THE "SEC") A DEFINITIVE PROXY
STATEMENT AND ACCOMPANYING FORM OF PROXY CARD TO BE USED IN
CONNECTION WITH THE PARTICIPANTS' SOLICITATION OF PROXIES FROM THE
STOCKHOLDERS OF CAMPUS CREST COMMUNITIES, INC. (THE "COMPANY") FOR
USE AT THE COMPANY'S 2015 ANNUAL MEETING OF STOCKHOLDERS (THE
"PROXY SOLICITATION"). ALL STOCKHOLDERS OF THE COMPANY ARE ADVISED
TO READ THE DEFINITIVE PROXY STATEMENT AND OTHER DOCUMENTS RELATED
TO THE PROXY SOLICITATION, WHEN THEY BECOME AVAILABLE, BECAUSE THEY
WILL CONTAIN IMPORTANT INFORMATION, INCLUDING ADDITIONAL
INFORMATION RELATED TO THE PARTICIPANTS. WHEN COMPLETED, THE
DEFINITIVE PROXY STATEMENT AND AN ACCOMPANYING PROXY CARD WILL BE
FURNISHED TO SOME OR ALL OF THE COMPANY'S STOCKHOLDERS AND WILL BE,
ALONG WITH OTHER RELEVANT DOCUMENTS, AVAILABLE AT NO CHARGE ON THE
SEC'S WEBSITE AT HTTP://WWW.SEC.GOV/.
INFORMATION ABOUT THE PARTICIPANTS AND A DESCRIPTION OF THEIR
DIRECT OR INDIRECT INTERESTS BY SECURITY HOLDINGS IS CONTAINED IN
THE PRELIMINARY PROXY STATEMENT ON SCHEDULE 14A FILED BY CLINTON
WITH THE SEC ON FEBRUARY 23, 2015.
THIS DOCUMENT CAN BE OBTAINED FREE OF CHARGE FROM THE SOURCE
INDICATED ABOVE.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/clinton-group-and-campus-evolution-villages-file-detailed-presentation-on-campus-crest-communities-300050174.html
SOURCE Clinton Group, Inc.