Campus Crest Communities, Inc. (NYSE:CCG) (the “Company”), a leading developer, builder, owner and manager of high-quality, purpose-built student housing, today provided an update on its portfolio leasing status for the 2012/2013 academic year.
“The continued focus of our teams on operations and leasing, coupled with our people and systems initiatives, continues to drive performance,” commented Ted W. Rollins, the Company’s Co-Chairman and Chief Executive Officer.
The following table contains the leasing status as of June 10, 2012:
|2012-2013 Leases||2011-2012 Leases|
|Property||Properties||Units||Beds||Signed (1)||%||Signed (1)||%|
|Wholly-Owned - Operating||27||5,156||13,884||9,969||71.8%||9,551||68.8%|
|Joint Venture - Operating||6||1,168||3,180||1,975||62.1%||2,132||67.0%|
|Sub Total All Operating Properties||33||6,324||17,064||11,944||70.0%||11,683||68.5%|
|Wholly-Owned - 2012 Deliveries||3||620||1,804||1,663||92.2%||0||0.0%|
|Joint Venture - 2012 Deliveries||3||662||1,856||1,125||60.6%||0||0.0%|
|Sub Total 2012 Deliveries||6||1,282||3,660||2,788||76.2%||0||0.0%|
|(1) As of June 10, 2012 and June 9, 2011, respectively|
About Campus Crest Communities, Inc.Campus Crest Communities, Inc. is a leading developer, builder, owner and manager of high-quality, purpose-built student housing properties located close to campuses in targeted U.S. markets. The Company is a self-managed, self-administered and vertically-integrated real estate investment trust which operates all of its properties under The Grove® brand. The Company owns interests in 33 operating student housing properties containing approximately 6,324 apartment units and 17,064 beds and boasts the youngest standardized portfolio in the industry. Since its inception, the Company 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. 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. Forward-looking statements in this press release include, among others, statements about the Company’s portfolio leasing status for the 2012/2013 academic year. 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.
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