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Student housing REIT Campus Crest Communities files for $385 million IPO

May 14, 2010

Campus Crest Communities, a vertically-integrated REIT focused on high-quality student housing properties, filed on Friday with the SEC to raise up to $385 million in an initial public offering. The Charlotte, NC-based company, which was founded in 2004 and booked $107 million in sales last year, plans to list on the NYSE. Raymond James is the lead underwriter on the deal, for which pricing terms and timing were not disclosed. Campus Crest is the eleventh company to file for an IPO so far this week.