CCG Provides Update to Its Staged Acquisition of Copper Beech Townhome Communities

  CCG Provides Update to Its Staged Acquisition of Copper Beech Townhome
  Communities

Business Wire

CHARLOTTE, N.C. -- March 21, 2013

Campus Crest Communities, Inc. (“CCG”) (NYSE: CCG) today provided an update to
its pending investment in Copper Beech Townhome Communities, LLC and
affiliates (“Copper Beech”). CCG has closed on an initial investment in
certain assets of Copper Beech for approximately $153.1 million, including the
repayment of debt.

The Company expects to make the remaining investment in the second & third
quarters of 2013 subject to certain closing conditions and requisite lender
consents. Campus Crest will provide a further update on its first quarter of
2013 earnings call at the end of April.

About Campus Crest Communities, Inc.

Campus Crest Communities, Inc. is a leading developer, builder, owner and
manager of high-quality, residence life focused student housing properties
located close to college campuses in targeted U.S. markets. CCG is a
self-managed, self-administered and vertically-integrated real estate
investment trust which operates all of its properties under The Grove® brand.
CCG owns interests in 39 operating student housing properties containing
approximately 20,884 beds. CCG plans to deliver six projects containing
approximately 3,564 beds in the third quarter of 2013. Additionally, CCG is
developing a 33-story student housing tower in Philadelphia, PA containing
approximately 850 beds for delivery in the third quarter of 2014. Since its
inception, CCG has focused on customer service, privacy, on-site amenities and
its proprietary residence life programs to provide college students across the
United States with a higher quality of living.

Contact:

Campus Crest Communities, Inc.
Thomas Nielsen
Associate, Finance & Investor Relations
704-496-2571
Thomas.nielsen@campuscrest.com
 
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