Deal Details
Follow-On Offering
Summary
Baird served as a co-manager on this offering.
About
Campus Crest Communities, Inc. (NYSE: CCG) (“Campus Crest” or the “Company”) recently completed a follow-on offering of 25,530,000 common shares at a price of $12.25 per share, generating gross proceeds of approximately $312.7 million. Campus Crest intends to use the net proceeds from the offering to fund its investment in the Copper Beech Townhome Communities, LLC (“Copper Beech”) portfolio and related transaction costs. The Copper Beech portfolio includes 35 student housing properties.Campus Crest is a leading developer, builder, owner and manager of high-quality, residence life focused 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. Prior to the recently announced acquisition of Copper Beech, Campus Crest owned interests in 39 student housing properties containing approximately 20,884 beds. Since its inception, Campus Crest 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 standard of living. Campus Crest is headquartered in Charlotte, North Carolina.
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- Date
- February 2013
- Company
- Campus Crest Communities, Inc.
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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