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CCG Updates 2014/2015 Pre-leasing Before NAREIT Conference

Stocks in this article: CCG

Campus Crest Communities, Inc. (NYSE:CCG) announces that it will be attending the NAREIT REITWeek Conference in New York, NY June 3 rd – 4 th. Ted W. Rollins, Chairman and Chief Executive Officer, will give a company presentation on Tuesday, June 3 th from 3:00 – 3:45 p.m. EST. The live webcast will be available online in the Investor Relations section of the company's website at www.campuscrest.com on the day of the conference. An online replay of the webcast will be available for 90 days.

Also, in conjunction with the conference, the Company is providing an update on its portfolio leasing status for the 2014/2015 academic year. The following table contains the leasing status as of May 29, 2014 and 2013:

 
2014/2015 Academic Year Leasing Summary
                                                         

2014 - 2015 Leases

2013 - 2014 Leases

Rental Rate
Property     Properties       Units       Beds       Signed (3)       %           Signed (3)       %       Change       Change      
 
Operating (1)
Wholly-Owned 32 6,400 17,476 13,312 76.2% 12,490 71.5% 4.7% n/a
HSRE Joint Venture     9       1,870       5,148       3,177       61.7%           3,022       58.7%       3.0%       n/a      
Total Operating 41 8,270 22,624 16,489 72.9% 15,512 68.6% 4.3% 1.0% - 2.0%
 
Copper Beech Portfolio 28 5,047 13,177 10,882 82.6% 11,391 86.4% (3.8%) 0.0% - 1.0%
                                                                                 
Total Operating Portfolio     69       13,317       35,801       27,371       76.5%           26,903       75.1%       1.4%       n/a      
                                                                                 
Total 2014 Deliveries (2)     10       3,128       7,455       2,569       34.5%           n/a       n/a       n/a       n/a      
 
(1) Includes 2013 deliveries.
(2) Includes both wholly-owned and joint venture 2014 deliveries; excludes the redevelopment at Toledo, OH.
(3) As of May 29, 2014 and 2013, respectively.
 

“We are pleased with the direction of our pre-leasing and the markets we serve. Our Copper Beech investment integration continues to make steady progress and our evo brands are preparing for their inaugural year,” remarked Ted W. Rollins, Chairman and Chief Executive Officer. “Our teams are stronger than they have been in our history and we are poised to continue to maximize our operating portfolio to yield the best returns.”

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