Initial Public Offering
Baird served as a co-manager in this offering.
AboutCampus Crest Communities, Inc. (“Campus Crest” or the “Company”)(NYSE: CCG) recently completed an initial public offering of 28,333,333 shares of its common stock at $12.50 per share, generating gross proceeds of $354.2 million. Campus Crest intends to use the net proceeds of this offering to reduce outstanding indebtedness, acquire interests in properties and for general working capital. The underwriters have the option to purchase up to an additional 4,250,000 shares to cover over-allotments.
Campus Crest Communities, Inc. is a self-managed, self-administered and vertically-integrated developer, builder, owner and manager of high-quality, purpose-built student housing. Campus Crest is one of the largest vertically-integrated developers, builders, owners and managers of high-quality, purpose-built student housing properties in the United States based on beds owned and under management. The Company owns interests in 27 student housing properties containing approximately 5,048 units and 13,580 beds. All of the properties are recently built, with an average age of approximately 2.2 years. Twenty-one of the properties are wholly-owned and six are owned through a joint venture with HSRE, in which the Company has a 49.9% interest. The Company recently completed construction of three of its joint venture properties, each of which commenced operations in August 2010.
For additional information about this transaction, please contact:
- October 2010
- Campus Crest Communities, Inc.
- Real Estate
- Target Location
- North America