Details of the properties are as follows:
|2013/2014 Academic Year Developments|
|Project||University Served||Total Enrollment 1||Distance to Campus (miles)||Units||Beds||Est. Cost ($mm)||Const. Loan ($mm)|
|The Grove at Ft. Collins, CO 2||Colorado State University||26,735||On-Campus||218||612||$||31.8||$||19.1|
|The Grove at Muncie, IN||Ball State University||18,241||0.1||216||584||24.3||14.6|
|Average/Sub Total 3||22,488||0.0||434||1,196||$||56.1||$||33.6|
|The Grove at Norman, OK||University of Oklahoma||23,850||0.6||224||600||$||26.4||$||18.4|
|Average/Sub Total 3||23,850||0.6||224||600||$||26.4||$||18.4|
|Average/ Total 3||22,942||0.2||658||1,796||$||82.5||$||52.1|
|1 All data is as of fall 2011; from school websites 2 Previously disclosed by the Company on Q1 2012 earnings call 3 Total Enrollment and Distance to Campus are averages|
- The Grove at Ft. Collins, CO: Located on land owned by Colorado State University, the property is the first fully-amenitized housing option on campus in the market and marks the Company’s most recent on campus venture.
- The Grove at Muncie, IN: Situated 0.1 miles from campus on a very well-located site providing convenient, pedestrian friendly access to Ball State University. The project will be the first student housing option in the market that provides lifestyle-focused management and resort-style amenities.
- The Grove at Norman, OK: Provides high visibility and easy access to the University of Oklahoma campus, in a market with favorable supply and demand characteristics.
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 college 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. 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 purposed 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 timing, costs and features of the three projects expected to be delivered for the 2013/2014 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.