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CHARLOTTE, N.C.--([ BUSINESS WIRE ])--Campus Crest Communities, Inc. (NYSE:CCG) (the aCompanya) today announced it closed an underwritten public offering of 2,300,000 shares of its 8.0% Series A Cumulative Redeemable Preferred Stock (the aSeries A Preferred Stocka), including 300,000 shares issued and sold pursuant to the exercise of the underwritersa overallotment option in full.

The shares of Series A Preferred Stock were issued at a public offering price of $25.00 per share, for net proceeds of approximately $55.4 million, after deducting the underwriting discount and other estimated offering costs.

Raymond James & Associates, Inc., RBC Capital Markets, LLC, Barclays Capital Inc., Citigroup Global Markets Inc. and Stifel, Nicolaus & Company, Incorporated served as joint book-running managers for the offering. Robert W. Baird & Co. Incorporated and Janney Montgomery Scott LLC served as co-managers.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the Series A Preferred Stock, nor shall there be any sale of such Series A Preferred Stock in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or other jurisdiction.

Copies of the final prospectus supplement and base prospectus relating to the Series A Preferred Stock may be obtained by contacting Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, or by calling toll-free at 1-800-248-8863, or emailing [ prospectus@raymondjames.com ]; RBC Capital Markets, LLC, Attention: Syndicate Operations Department, Three World Financial Center, 200 Vesey Street 8th Floor, New York, New York 10281, or by calling toll free 1-866-375-6829, or emailing [ rbcnyfixedincomeprospectus@rbccm.com ]; Barclays Capital Inc., Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by calling 1-888-603-5847, or emailing [ barclaysprospectus@broadridge.com ]; Citigroup Global Markets Inc., Attention: Prospectus Department, Brooklyn Army Terminal, 140 58th Street, 8th Floor, Brooklyn, New York 11220, or by calling 1-800-831-9146; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate Department, One South Street, 15th Floor, Baltimore, Maryland 21202, or by calling 1-443-224-1988.

About Campus Crest Communities, Inc.

Campus Crest Communities, Inc. is a leading developer, builder, owner and manager of high-quality, purpose-built student housing properties located close to college campuses 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 brand. The Company owns interests in 33 operating 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 its proprietary residence life programs to provide college students across the United States with a higher quality of living.

Forward-Looking Statements

This press release, together with other statements and information publicly disseminated by the Company, contain 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 the purposes of complying with those 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 amay,a awill,a ashould,a aexpects,a aintends,a aplans,a aanticipates,a abelieves,a aestimates,a apredictsa or apotentiala 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. 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 Companyas control that may cause actual results to differ significantly from those expressed in any forward-looking statement. All forward-looking statements reflect the Companyas 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 Companyas future results to differ materially from any forward-looking statements, see the risk factors discussed in the Companyas most recent Annual Report on Form 10-K.