Skip to content
Subscriber Only

Campus Crest Buys Canada Hotel in First Outside-U.S. Deal

Campus Crest Communities Inc., a publicly traded owner of U.S. college housing, made its first international acquisition by buying a Montreal property for conversion into a residential tower for students.

In a joint venture with private-equity firm Beaumont Partners SA, Campus Crest acquired the Delta Centre-Ville hotel in downtown Montreal for about $60 million, Chief Executive Officer Ted W. Rollins said. Charlotte, North Carolina-based Campus Crest will have a 20 percent stake in the partnership, which expects to get financing later this year for the redevelopment.