Campus Crest Communities Inc (fka CCG)

[Enterprising Investor]

Campus Crest Shareholders Approve Acquisition by Harrison Street Real Estate Capital (1/26/16)

CHARLOTTE, N.C., Jan. 26, 2016 /PRNewswire/ -- Campus Crest Communities, Inc. (NYSE: CCG) (the "Company" or "Campus Crest"), announced today that holders of its outstanding shares of common stock approved the acquisition (the "Merger") of Campus Crest by affiliates of Harrison Street Real Estate Capital, LLC ("Harrison Street") at the Company's annual shareholder meeting held earlier today. Approximately 99.3% of the votes cast were in favor of the Merger.

The closing of the Merger remains subject to the satisfaction or waiver of customary closing conditions related to the Merger, including but not limited to the receipt of certain lender consents. Campus Crest currently expects the Merger to close by the end of February. Upon the closing of the Merger, the Company will no longer be a publicly-held company and shares of its common stock will be delisted from the New York Stock Exchange and deregistered under the Securities Exchange Act of 1934, as amended.

Aaron Halfacre, President and Chief Investment Officer of Campus Crest, said, "We are pleased by our investors' overwhelming support of the transaction. Campus Crest and Harrison Street are working diligently toward a successful closing and look forward to announcing the official closing date once all of the closing conditions have been satisfied."

About Campus Crest Communities, Inc.

Campus Crest Communities, Inc. is a leading owner and manager of high-quality student housing properties located close to college campuses in targeted markets. It has ownership interests in 79 student housing properties with over 42,000 beds across North America. Additional information can be found on the Company's website at http://www.campuscrest.com.

About Harrison Street Real Estate Capital

Harrison Street Real Estate Capital is a real estate private equity firm founded in 2005 by real estate veteran Christopher Merrill, Chris Galvin (former Chairman & CEO of Motorola) & Mike Galvin (former Assistant Secretary of the U.S. Commerce Department for Export Administration) that directly and through its affiliates, has approximately $8 billion in assets under management (AUM) through commingled funds and public securities products. The commingled funds focus exclusively on the Education, Healthcare and Storage segments of the US & European real estate markets. Since inception, the Firm has acquired or developed over $10 billion of real estate throughout 480 properties in 40 states including over 63,000 student housing beds, more than 14,000 senior housing units, over 5.9 million square feet of medical office space, and more than 92,000 self-storage units. For more information please visit www.harrisonst.com.

http://www.prnewswire.com/news-releases/campus-crest-shareholders-approve-acquisition-by-harrison-street-real-estate-capital-300210171.html