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 [email protected] 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 Offers previously received will be given full consideration as presented unless revised or withdrawn prior to Dec. 3, 2014.