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August 30, 2015 7:07 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Campus Crest Communities, Inc.

Company Overview

Campus Crest Communities, Inc., a real estate investment trust (REIT), engages in the ownership, development, building, and management of student housing properties under the Grove brand name in the United States. The company rents student housing properties; offers student housing services; and provides construction, development, and management services. As of July 06, 2012, it owned interests in 33 student housing properties containing approximately 6,324 apartment units and 17,064 beds. The company has elected to be treated as a REIT under the Internal Revenue Code of 1986. As a REIT, it would not be subject to federal income taxes, provided it distributes at least 90% of its taxable inco...

2100 Rexford Road

Charlotte, NC 28211

United States

Founded in 2004

632 Employees





Key Executives for Campus Crest Communities, Inc.

Campus Crest Communities, Inc. does not have any Key Executives recorded.

Campus Crest Communities, Inc. Key Developments

Campus Crest Communities Receives Non-Compliance Notice From NYSE

Campus Crest Communities, Inc. disclosed in a Form 12b-25 filed with the Securities and Exchange Commission (the “SEC”) on August 11, 2015 that it is unable to timely file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2015. The Company and certain of its affiliates recently completed (effective January 30, 2015) certain acquisitions pursuant to the Company’s purchase and sale agreement, as amended, with the former members of Copper Beech Townhome Communities, LLC and Copper Beech Townhome Communities (PA), LLC. Due to the significance and complexity of this transaction, most notably the need to account for these interests as joint ventures through the closing date and as a combination of joint ventures and wholly-owned interests for the balance of the quarter, the Company required additional time to complete the consolidation for the previous quarter. The extensive effort required to complete the Company’s Form 10-K for the year ended December 31, 2014 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2015 disrupted the normal timing for closing the books for the quarter ended June 30, 2015. For additional information, please see the Form 12b-25 filed on August 11, 2015. The New York Stock Exchange (the "NYSE") provided formal notification to the Company on August 18, 2015 that it is not currently in compliance with the NYSE's continued listing requirements under the timely filing criteria set forth in Section 802.01E of the NYSE Listed Company Manual. Such notices are routinely issued by the NYSE in situations when there are late filings with the SEC. Under NYSE rules, the Company has six months from August 17, 2015, subject to ongoing evaluation, to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2015. Until the Company files its Quarterly Report, the Company expects that its common stock, which is listed on the NYSE under the symbol "CCG," will be assigned an "LF" indicator to signify late filing status. The Company can regain compliance with the NYSE listing standards at any time during this six-month period once it files its Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 with the SEC. If the Company fails to file its quarterly report within such six-month period, the NYSE may, in its sole discretion, allow the Company’s common stock to trade for up to an additional six months depending on specific circumstances as outlined in the rule. It is expected that the Company would need to submit an official request to the NYSE for the NYSE’s consideration at the appropriate time. While the Company is working diligently to complete the Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 and currently expects to complete and file the Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 within six months of its due date, no assurance can be given that the Quarterly Report on Form 10-Q for the quarter ended June 30, 2015 will be filed within such period, or that the NYSE would allow the Company’s securities to trade for up to an additional six months.

Campus Crest Communities, Inc. announced delayed 10-Q filing

On 08/11/2015, Campus Crest Communities, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Campus Crest Communities, Inc. Approves Appointment of Grant Thornton LLP as its Independent Registered Public Accounting Firm

The audit committee of the board of directors of Campus Crest Communities, Inc. approved the appointment of Grant Thornton LLP as its independent registered public accounting firm effective as of August 5, 2015.

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