Campus Crest Communities Announces New Development Projects for 2012/2013 Academic Year CHARLOTTE, N.C., Nov 01, 2011 (BUSINESS WIRE) -- << Back Campus Crest Communities, Inc. (NYSE:CCG), a leading developer, builder, owner and manager of high-quality, purpose-built student housing under The Grove(R) brand, today announced the complete list of development projects for delivery in the 2012/2013 academic year. Including the two wholly-owned projects the Company previously announced, Campus Crest is scheduled to deliver a total of six new projects - three wholly-owned and three joint venture - for the 2012/2013 academic year.

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Campus Crest Communities Announces New Development Projects for 2012/2013 Academic Year
CHARLOTTE, N.C., Nov 01, 2011 (BUSINESS WIRE) --
Campus Crest Communities, Inc. (NYSE:CCG), a leading developer, builder, owner and manager of high-quality, purpose-built student housing under The Grove(R) brand, today
announced the complete list of development projects for delivery in the 2012/2013 academic year. Including the two wholly-owned projects the Company previously announced, Campus
Crest is scheduled to deliver a total of six new projects - three wholly-owned and three joint venture - for the 2012/2013 academic year.
Campus Crest Co-Chairman and Chief Executive Officer Ted Rollins noted, "I am pleased to announce the remaining four projects scheduled for delivery in the 2012/2013 academic year.
All six projects are the culmination of hard work by our team members, diligent underwriting and the synergies resulting from the Company's vertically integrated platform. Having built all 33
properties in our portfolio over the past seven years, we continue to refine and improve our development, construction, leasing and management processes. The new developments have a
higher average bed count than the operating portfolio average, and are located on average about 0.4 miles to campus in markets with very compelling supply/demand characteristics.
These exciting new projects underscore our promise to provide market-leading product and services to our residents that will enhance the communities we serve, while we seek to create
long-term value for our shareholders."
The three wholly-owned communities for the 2012/2013 academic year have a total expected construction cost of $84.7 million. This includes the previously announced, wholly-owned
projects at Auburn University and the University of Maine, which have broken ground and are scheduled for delivery in the third quarter of 2012. The three joint venture projects will be
developed in partnership with Harrison Street Real Estate Capital ("HSRE") for $72.1 million; the Company owns a 10.0% interest in these communities. Expected yields on the six projects
are in a range of 7.5% to 8.0%.
Details of these properties are as follows:
2012/2013 Academic Year Developments
Distance to
Total Campus Est. Cost
Enrollment1
Project University Served (miles) Units Beds ($mm)
Wholly-Owned
The Grove at Auburn2 Auburn University 25,469 0.1 216 600 $26.3
The Grove at Flagstaff Northern Arizona Univ. 17,529 0.3 216 584 33.1
The Grove at Orono2 University of Maine 11,168 0.5 188 620 25.3
Average/Sub Total3 18,055 0.3 620 1,804 $84.7
Joint Venture
The Grove at Fayetteville University of Arkansas 23,199 0.5 232 632 $26.5
The Grove at Laramie University of Wyoming 10,568 0.3 224 612 24.8
The Grove at Stillwater4 Oklahoma State Univ. 22,411 0.8 206 612 20.7
3
Average/Sub Total 18,726 0.5 662 1,856 $72.1
Average/ Total3 18,391 0.4 1,282 3,660 $156.8
1
All data is as of fall 2011 except for Northern Arizona University, which is as of fall 2010; from school websites
2
Previously announced by the Company on July 26, 2011
3
Total Enrollment and Distance to Campus are averages
4 Acquisition of existing community with 138 units and 384 beds. New development adds 68 units and 228 beds.

2. 4 Acquisition of existing community with 138 units and 384 beds. New development adds 68 units and 228 beds.
Select highlights for the projects include:
The Grove at Auburn: Adjacent to the on-campus Greek housing at Auburn University, which has a total fall 2011 enrollment of over 25,000 students
The Grove at Flagstaff: Located approximately 0.3 miles from a university that is experiencing a significant enrollment growth and limited on-campus housing options
The Grove at Orono: First property in the market to provide a full private bed and bath living option to all of its student customers
The Grove at Fayetteville: Serving a fall 2011 student body of over 23,000, an 8% increase from last year's record breaking enrollment
The Grove at Laramie: Less than 0.3 miles from the campus of a university that has experienced record enrollment growth over the last two academic years
The Grove at Stillwater: A redevelopment and expansion of an existing property to The Grove(R) platform, that will serve a campus of over 22,000 students
The Company or the joint venture has received construction financing commitments of $72.4 million at an average spread of 265 basis points over LIBOR for the four newly announced
projects. The Auburn and Orono developments have $31.5 million of construction financing in-place at an average spread of 285 basis points over LIBOR. The Company intends to finance
its share of the remaining construction costs through the recently upsized credit facility, which has a capacity of $150 million.
About Campus Crest Communities, Inc.
Campus Crest Communities, Inc. (NYSE: CCG) is a leading developer, builder, owner and manager of high-quality, purpose-built student housing properties located 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(R) brand. Campus
Crest Communities owns interests in 33 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 other lifestyle considerations to provide college students with a higher standard 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 outlook for FFO,
growth opportunities and long term value creation. 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.
SOURCE: Campus Crest Communities, Inc.
Campus Crest Communities, Inc.
Investor Relations
704-496-2581
Investor.Relations@CampusCrest.com