This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CCG Announces Successful Disposition Of Four Non-Core Assets For $50.0 Million

Campus Crest Communities, Inc. (NYSE: CCG) (the “Company”) today announced that it closed on the sale of four wholly-owned student housing properties on December 27, 2013. The four Grove-branded properties were unencumbered and generated net proceeds to the Company of approximately $50.0 million. Based on the Company’s 2013 NOI estimate for these properties, the estimated weighted average nominal cap rate on the dispositions was approximately 7.6%.
Property Name University


  Units   Beds  


  Enrollment   Tuition
The Grove at Jacksonville, AL Jacksonville State University 2007 192 504 0.2 9,161 $7,950
The Grove at Jonesboro, AR Arkansas State University 2008 192 504 0.3 13,877 6,934
The Grove at Wichita, KS Wichita State University 2008 192 504 1.1 14,893 5,418
The Grove at Wichita Falls, TX Midwestern State University 2008   192   504   1.2   5,916   7,238
Total / Median / Average (1) 768 2,016 0.7 10,962 $6,885
(1) Reflects total units and beds, median distance to campus, and average enrollment and tuition

For the twelve months ended September 30, 2013, occupancy for the four dispositions was 87.3%, total RevPOB was $446 and NOI margin was 41.1%. By comparison, occupancy, total RevPOB and NOI margin for the Company’s remaining 28 wholly-owned operating properties during the same period were 92.8%, $514 and 55.8%, respectively.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs