Campus Crest Communities Closes Construction Financing and Upsizes Line of Credit

Campus Crest Communities, Inc. 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