Charlotte, N.C. — As a result of Campus Crest Group's (NYSE:CCG) decision to discontinue its construction and development business, the company is disposing of several undeveloped land parcels where it had planned to develop off-campus student housing project.
Effective immediately, the company will accept written offers for purchase on the following specific sites:
• Allendale, Michigan (Grand Valley State University)
• Bellingham, Washington (Western Washington University)
• Boca Raton, Florida (Florida Atlantic University)
• Charlotte, North Carolina (UNC-Charlotte)
• Mt. Pleasant, Michigan (Central Michigan University)
• Sacramento, California (Cal-State Sacramento)
• San Angelo, Texas (Angelo State University)
• Tempe, Arizona (Arizona State University)
• Tuscaloosa, Alabama (University of Alabama)
The company says it will accept written offers on the above-referenced properties until 5 p.m. ET Dec. 3, 2014. All written offers should be forwarded to Campus Crest Development, LLC, attention Alex Eyssen, Vice President, 2100 Rexford Road, Charlotte, North Carolina, 28211 via overnight delivery or via email at firstname.lastname@example.org. Upon execution of a confidentiality agreement, interested parties will be provided access to existing due diligence and entitlement information.
Priority will be given to offers based upon several criteria to include: the ability to close on or before Feb. 13, 2015; portfolio offers; ability to close without funding contingencies; and/or ability to close without entitlement contingencies. Offers previously received will be given full consideration as presented unless revised or withdrawn prior to Dec. 3, 2014.