Campus Crest Communities Closes Construction Financing and Upsizes Line of Credit
Campus Crest Communities, Inc. (NYSE: CCG) (the “Company”), today announced that it closed on construction financing on four additional properties, completing the necessary financing for all of its 2012/2013 development projects. The Company previously announced $31.5 million of construction financings for its wholly-owned projects in Auburn, AL and Orono, ME, and has closed a construction loan in the amount of $19.8 million for its third wholly-owned development in Flagstaff, AZ. An additional $52.6 million of construction loans have been closed for its three joint venture projects with Harrison Street Real Estate
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