This presentation provides an overview of Campus Crest Communities for potential investors. Key highlights include compelling student housing market dynamics driven by increasing college enrollments; a portfolio of modern student housing properties located near universities; a proven track record of growth and increasing occupancy and revenue; an experienced management team; and a pipeline of development opportunities. Campus Crest has a prudent capital structure and financing to support continued growth.

1. March Investor Presentation
August 2010
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2. Forward Looking Statements
This presentation contains certain forward-looking statements that are subject to risks and uncertainties.
These forward-looking statements are based on certain assumptions, discuss future expectations,
describe future plans and strategies, contain financial and operating projections or state other forward-
looking information. The Company’s ability to predict results or the actual effect of future events, actions,
plans or strategies is inherently uncertain. Although the Company believes that the expectations reflected
in such forward-looking statements are based on reasonable assumptions, the Company’s actual results
and performance could differ materially from those set forth in, or implied by, the forward-looking
statements. You are cautioned not to place undue reliance on any of these forward-looking statements,
which reflect the Company’s views on this date. Furthermore, except as required by law, the Company is
under no duty to, and does not intend to, update any of our forward-looking statements after this date,
whether as a result of new information, future events or otherwise.
This presentation does not constitute, and may not be used in connection with, an offer or solicitation by
anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person
making the offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make
such offer or solicitation.
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3. Investment Highlights
®
The Grove at Milledgeville, GA
Compelling Market Dynamics
Modern, Well-Located Portfolio in
Solid Growth Markets
Proven Track Record with
Significant Growth Potential
®
The Grove at Nacogdoches, TX
Experienced Team with
Value-Maximizing Platform
Conservative Capital Structure and
Attractive Valuation
2

4. Compelling Market Dynamics
§ Echo Boom drives enrollment growth
§ Increasing percentage of high-school College Enrollments (1957-2012)
(1957-
graduates attending college
Demand § Increasing foreign enrollments (millions) Echo Boom
Enrolling in College
Drivers § Increasing percentage of full-time vs. 22
part-time students 20
§ Students taking longer to graduate 18 Baby Boom
Enrolling in College
16
14
12
§ Budgets constrain on-campus housing 10
investment 8
§ 38 states cut their educational 6
Supply budgets during the recession 4
2
Factors § Existing on-campus housing stock
becoming increasingly obsolete 0
1950 1963 1973 1983 1993 2003 2013
§ Lack of construction financing is
restricting new entrants Source: Dept. of Education, National Center for Educational Statistics
Enrollment expected to increase by ~1.5 million students over the next 8 years
3

5. Attractive Portfolio and Growth Platform
Ø Newest portfolio of student housing assets
Ø Amenity rich – bed/bath parity, resort-style activities
Ø Close proximity to campus
Ø Barriers to entry
Ø Lower cap-ex requirements
Portfolio Highlights Ø Proactive focus on medium-sized, high-growth markets
Properties (1) 27
Ø Markets have strong enrollment growth – 7.2%
average growth (3)
Total Units / Beds (1) 5,048 / 13,580
Ø Less institutional competition & comparable product
Weighted Average Age (2) 2.5 years
Ø Stronger tuition value proposition
Average Distance to Campus 0.6 miles
(3) Source: Reported enrollment statistics from university websites;
Represents enrollment growth from the academic year 2006/2007 to
the academic year 2009/2010
Occupancy (2) 89%
4 (1) Includes 6 joint venture properties in which Campus Crest owns a 49.9% member interest
(2) As of 2/23/2011

6. Why Our Markets
Stronger Enrollment
§ Our markets benefit from higher enrollment growth than primary markets
Growth
§ On-campus atmosphere with advantages of off-campus economics
Unique Relationships
§ Benefits from symbiotic relationships with universities
with Universities
§ Greater impact from marketing dollars
§ Well-established university markets with protective community councils
Higher Barriers to Entry § Superior land acquisition and entitlement capabilities
§ Lack of available financing for local operators
Construction Cost § We are able to build a superior product at a lower cost because of our captive
Advantage general contractor and wholesale purchaser
5

7. The Evolution of Student Housing – The Dormitory Era
Traditional on-campus, “dormitory-style” housing alternatives have generally
consisted of shared rooms, communal bathroom facilities and extremely limited
(if any) amenities and parking
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8. The Evolution of Student Housing – Our Student Housing
Purpose-built student housing is specifically designed to appeal to modern-
day college students with broad on-site amenities, enhanced privacy and a
focus on the overall lifestyle experience
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9. The Evolution of Student Housing – State of the Art Prototype
®
The Grove at San Marcos, TX
®
The Grove at Statesboro, GA
® ® ®
The Grove at Huntsville, TX The Grove at The Grove at
Nacogdoches, TX Nacogdoches, TX
®
The Grove at Huntsville, TX
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10. Our Properties are Attractive and Amenity-Rich
Apartment Features:
§ Private bedrooms with keyed locks
§ En suite bathrooms
§ Full furnishings and full kitchens
§ Modern appliances and washers/dryers
§ State-of-the-art technology
§ Ample parking
§ Gated entrances
On-site Amenities:
§ Resort-style swimming pools
§ Basketball and volleyball courts
§ Game rooms and coffee bars
§ Fitness centers
§ Community clubhouses
All of our apartment communities offer bed-bath parity, attractively furnished
units and a variety of on-site amenities designed to appeal to the college lifestyle
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11. Our Properties are Universally Branded The Grove®
At The Grove®, we offer a “fully-loaded college living” experience through our consistent
branding and operating philosophy
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12. Intensive Asset Management Philosophy
Ø Regular property inspections and audits performed by asset
management team using 800 point check list
Ø Field-focused executive management team
Ø Vertical integration and overlap of construction management and
facilities management leads to superior asset performance
Ø Proprietary Residence Life Programming through SCORES:
Ø S – social
Ø C – cultural
Ø O – outreach
Ø R – recreational
Ø E – educational
Ø S – spiritual
Ø “The Grove Nation” culture drives excitement, customer focus
and unmatched residence life experiences
Intensive asset management philosophy employed throughout our organization
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13. Identified Pipeline of Future Development Opportunities
Ø Development site selection criteria
Ø High enrollment growth colleges / universities
Ø Limited competing product
Ø Proximity to campus
Ø Vertically integrated, highly scalable operating platform
Ø Property & asset management
Ø Development & construction
Ø Wholesale supply
Ø Prototypical roll-out
Ø Reduces costs and shortens development period
Ø Proven track record – developed ~$500 million of
student housing properties
Identified 200+ potential markets & conducting due diligence on 80 sites as
potential development opportunities
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14. 2011 Development Projects (2011/2012 Academic Year Occupancy)
($ in thousands)
Proposed Units /
Project Enrollment Distance to Campus Estimated Cost
Beds
Wholly-Owned Developments
Ft. Wayne, IN Ø 13,675 Ø 1.1 miles Ø 204 / 540 Ø $19,926
Indiana University / Purdue University
Clarksville, TN Ø 10,188 Ø 1.3 miles Ø 208 / 560 Ø $21,203
Austin Peay State University
Ames, IA Ø 27,945 Ø 0.3 miles Ø 216 / 584 Ø $21,411
Iowa State University
Columbia, MO Ø 32,415 Ø 0.9 miles Ø 216 / 632 Ø $24,931
University of Missouri
Joint Venture Developments
Denton, TX Ø 36,123 Ø 0.8 miles Ø 216 / 584 Ø $24,953
University of North Texas
Valdosta, GA Ø 12,391 Ø 1.9 miles Ø 216 / 584 Ø $21,150
Valdosta State University
We utilize a proprietary underwriting model with over 60 inputs to evaluate the relative
attractiveness of each market, which we then use to prioritize development opportunities
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15. Proven and Scalable Business Model
Total Number of Beds (All Properties)
20,000 17,064
Number of Beds
15,000 13,580
12,036
9,520
10,000
4,966
5,000
1,924
448
0
(1)
2005 2006 2007 2008 2009 2010 2011E
Number of Properties (All Properties)
40
6
30 3
Properties
5
20 9
6 24 27
10 3 19
4
1 1 10
0
(1)
2005 2006 2007 2008 2009 2010 2011E
Existing Properties New Openings
Campus Crest has grown to over 13,500 beds over the last five years by leveraging its
platform and brand to deliver a uniform student housing product across multiple markets
14 (1) 2011E includes 4 wholly-owned developments and 2 joint venture developments

16. Increasing Occupancy and RevPOB
Historical Weighted Average Occupancy (1) Historical Weighted Average RevPOB (2)
Openings 6 9 5 5 3 Openings 6 9 5 3
Total 10 19 24 24 27 Total 10 19 24 27
$490 $486
100.0%
88.0%
87.0% 88.0% 89.0%
90.0% 83.0% $480
$472 $473
80.0%
$470
70.0%
60.0% $460
50.0% $448
$450
40.0%
30.0% $440
20.0%
$430
10.0%
0.0% $420
CY2007 CY2008 CY2009 CY 2010 As of (3) CY2007 CY2008 CY2009 CY2010
2/23/2011
Campus Crest has delivered occupancy and RevPOB growth while significantly
expanding its portfolio
(1) Weighted average occupancy applies to properties that are open for the full calendar year
(2) Weighted average RevPOB applies to properties that are open for the full calendar year; RevPOB is defined as average total revenue
15 per occupied bed (includes student housing leasing and student housing services revenue)

17. Prudent Capital Structure With Fully-Financed Growth
Capital Structure (Including Pro Rata Share of Joint
In-
In-Place Financing for Developments
Venture Debt)
Debt)
($ in millions) ($ in millions)
$700 Amount
$573.1
Revolving Credit Facility: $54(1)
$600
Construction Facilities: $53(2)
$500
HSRE Equity Commitment $50
$400
JV Construction Financing $31
$300
7.7%
Potential Leverage on Unencumbered Assets(3): $70
$200
Total Potential Liquidity $258
$100 28.4%
25.1%
15.6%
-
At 12/31/2010
Debt Pro Rata Share of JV Debt Equity
Capitalized for growth with no maturities until 2014
(1) Revolving credit line for up to $125 million; As of 12/31/2010 the Company had drawn $42.5 million.
(2) Does not include construction financing for Columbia development
16 (3) Assumes 70% LTV using the undepreciated cost of Ellensburg, Mobile-Phase I, Nacogdoches, Abilene and Greeley

18. Experienced And Proven Leadership
Ted W. Rollins
Co-Founder, Co-Chairman • 25 years of real estate experience developing and operating service-enriched housing properties
of the Board & Chief
Executive Officer • Founded Campus Crest in 2004
Michael S. Hartnett
Co-Founder, Co-Chairman • 25 years of real estate experience developing and operating service-enriched housing properties
of the Board &
Chief Investment Officer • Founded Campus Crest in 2004
Earl C. Howell
President & Chief • Over 33 years of experience in service driven businesses; Colonel in U.S. Army Special Forces
Operating Officer
• Joined Campus Crest as a consultant in 2009
Donnie L. Bobbitt
Executive Vice President & • Over 20 years in corporate accounting and senior financial positions at both private
Chief Financial Officer
and public companies and Deloitte & Touche LLP
17

19. Investment Highlights
®
The Grove at Milledgeville, GA
Experienced Team with
Value-Maximizing Platform
Compelling Market Dynamics
Modern, Well-Located Portfolio in
Solid Growth Markets
®
The Grove at Mobile—Phase II, AL
Proven Track Record with
Significant Growth Potential
Conservative Capital Structure and
Attractive Valuation
18