header_bar
Last Updated ( 02/27/2013 23:30 )
DATE_FORMAT_LC2=Wednesday,February 27 2013 12:00:00 AM   
Campus Crest To Acquire Copper Beech Townhomes

Charlotte, N.C. — Campus Crest announced Wednesday that it had agreed to acquire Copper Beech Townhome Communities, LLC. Publicly traded Campus Crest (NYSE: CCG) wil acquire Copper Beech in a staged acquisition, beginning with a 48 percent equity interest in 35 communities. Total consideration for the initial stage of the investment includes $230.2 million to acquire equity interests and repay debt in Copper Beech and a $31.7 million loan to the existing investors, according to Campus Crest. CCG's investment is contingent on a follow-up equity offering. The acquisition between the fourth and fifth largest student housing owners will effectively make Campus Crest the second largest student housing company in the industry, with approximately 42,000 beds under ownership. Please look to student housing business for more details as we continue to report this story on Thursday, February 28. To view Campus Crest's press release on the merger, click here.

 

JoomlaStats Activation

Your are currently browsing this site with Internet Explorer 6 (IE6).

Your current web browser must be updated to version 7 of Internet Explorer (IE7) to take advantage of all of template's capabilities.

Why should I upgrade to Internet Explorer 7? Microsoft has redesigned Internet Explorer from the ground up, with better security, new capabilities, and a whole new interface. Many changes resulted from the feedback of millions of users who tested prerelease versions of the new browser. The most compelling reason to upgrade is the improved security. The Internet of today is not the Internet of five years ago. There are dangers that simply didn't exist back in 2001, when Internet Explorer 6 was released to the world. Internet Explorer 7 makes surfing the web fundamentally safer by offering greater protection against viruses, spyware, and other online risks.

Get free downloads for Internet Explorer 7, including recommended updates as they become available. To download Internet Explorer 7 in the language of your choice, please visit the Internet Explorer 7 worldwide page.