Clinton Group, Inc., a stockholder of Campus Crest Communities, Inc., has partnered with Campus Evolution Villages, LLC, one of the leading private owners and operator of student housing assets, in its pursuit to maximize value for all shareholders of Campus Crest. CEV currently owns and manages 22 assets at 20 distinct universities totaling 10,000 beds.
"We are pleased to partner with such an exceptional management team in our pursuit to improve Campus Crest for all shareholders," said Joseph A. De Perio, Senior Portfolio Manager at Clinton Group. "I am disappointed the current Board has elected not to engage with us in a constructive manner since our nomination notice and, most recently, when we apprised them of our current plan. We look forward to continuing to articulate the case for change and our plans for the future prior to the record date on February 26 and the upcoming annual meeting."
"I am thrilled to be working with Clinton to improve Campus Crest," said Andrew Stark, Chief Executive Officer of Campus Evolution Villages. "We are a great alternative for shareholders today and have the capabilities to address all of the Company's issues and problems - instituting a full executive team with our extensive hands-on student housing expertise, turning around the operations immediately, and restoring Campus Crest's growth opportunity and pipeline with our owned and managed assets."
"Our vision is to make Campus Crest a dominant player in the student housing industry," said Evan Denner, Chief Investment Officer of Campus Evolution Villages. "We plan to evolve the business under our management principles and position the Company for future growth. We have worked very hard to build a brand that focuses on both the student-resident experience as well as disciplined attention to driving value for all stakeholders." Tags: