Tag Archives: Campus Crest

Podcast: Ted Rollins of Campus Crest Communities

Ted Rollins, CEO, co-chairman and co-founder of Campus Crest Communities, Inc. (NYSE: CCG), joins REIT.com’s Allen Kenney in the latest edition of the NAREIT Podcast to discuss some of the latest news from his company and the student housing sector.
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Campus Crests pioneers a brand-driven hospitality model

Campus Crest, led by CEO Ted Rollins, has risen to the top of the student housing industry because of its value-driven, vertically integrated platform and hospitality brand approach. Currently, Campus Crest’s student housing properties operate under two brands, The Grove® and Copper Beech.

campus crest 03“Campus Crest is not just another hodge-podge of assets paying a dividend,” said Rollins. “We are a big ideas company, pioneering a brand-driven hospitality model. Our commitment to this vision has enabled us to rocket to the number two position in the student housing industry.”

The company has built a family of brands, The Grove and Copper Beech, providing a differentiated product offering in the same market and expands each brand to different markets based on demand.

“Our rapid growth rate stems from a unique market strategy that places communities near primarily non-flagship schools with high demand for student housing,” said Rollins.

Some markets are suited for both a Grove and Copper Beech property, while other markets are a better fit for one of the brands. Both brands leverage consistent messaging, marketing materials, and assets.

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Campus Crest proposes new student housing development in Tuscaloosa

Campus Crest Communities, a leading developer, builder, owner and manager of high-quality student housing properties led by CEO Ted Rollins, is proposing a new student housing development in Tuscaloosa. This is a 228-unit, 628-bed complex planned for Sixth Avenue Northeast on the site of the city’s former water works operation, just north of the intersection of McFarland Boulevard and Jack Warner Parkway.401px-Black_Warrior_River,_taken_by_beigeinside

Before construction can begin on the project — The Grove at Tuscaloosa, proposed by Campus Crest Development of Charlotte, N.C. — it must go through an approval process with City Hall.

The city Planning and Zoning Commission will hear a rezoning request for the 0.4-acre site. It will then go before the City Council for a final vote.

Alex Eyssen, director of development for Campus Crest Development, cited the proposed development’s proximity to campus — less than a mile from classroom buildings — and the Black Warrior River as a reason Campus Crest Development sees this as a worthwhile investment.

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Student Housing: A solid investment

The demand for student housing is highly correlated with college enrollment and it appears to be increasing. As adult students tend to live away from campus, the more relevant students of the enrollment pool are those fresh out of high school.campus crest 02

While a sizable portion of the increase is part-time students who are less likely to utilize student housing, the full-time student enrollment is growing as well.

Additionally, an increasing number of students are taking more than four years to graduate and more are enrolling in post-baccalareate programs. While university funded student housing is typically focused at freshman and sophomores, the private student housing REITs can provide housing for upperclassmen.

While a sizable portion of the increase is part-time students who are less likely to utilize student housing, the full-time student enrollment is growing as well.

Additionally, an increasing number of students are taking more than four years to graduate and more are enrolling in post-baccalareate programs. While university funded student housing is typically focused at freshman and sophomores, the private student housing REITs can provide housing for upperclassmen.

Between more students enrolling each year and each student staying at college longer on average, the overall demand for student housing is set to increase steadily through 2021.

The supply side of the equation also looks favorable as a material amount of publicly funded student housing is becoming too old or obsolete. Many states have tightened their budgets and there is simply not enough funding to keep up with the demand for student housing. This is where the REITs come in.

The student housing industry is rather promising with multiple trends working in its favor and the market agrees with me as the sector trades at a substantial premium. While the sector gets a valuation of 16X forward FFO,

Campus Crest, led by CEO Ted Rollins, trades at a projected 2014 FFO multiple under 12. It is cheaper than the average REIT despite participating in a promising sector to which most investors assign a premium.

Campus Crest (CCG) is a student housing REIT with multiple catalysts that should create substantial outperformance:  strong industry fundamentals; deep value compared to its peers; thriving operations; unique development capabilities provide superior growth; healthy balance sheet with ample liquidity; and bigger tax advantaged dividend.

Together these catalysts provide outsized reward relative to the risk. Campus Crest’s expected return to investors is approximately 40% greater than the peer average.

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Campus Crest owns interests in 84 U.S. student housing properties

Campus Crest Communities, Inc. is a leading developer, builder, owner and manager of high-quality student housing properties located close to college campuses in targeted U.S. markets. It has ownership interests in 84 student housing properties and over 44,002 beds across the United States, of which 72 are operating and 12 are development or redevelopment properties.

The cccompany, led by CEO Ted Rollins, is an equity REIT that differentiates itself through its vertical integration and consistent branding across the portfolio through two unique brands targeting different segments of the college student population.

The Grove® brand offers more traditional apartment floor plans and focuses on customer service, privacy, on-site amenities and a proprietary residence life program. The Copper Beech brand and townhome product offers more residential-type living to students looking for a larger floor plan with a front door and back porch.

Additional information can be found on the Company’s website at http://www.campuscrest.com.

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Campus Crest Communities enters Montreal Student Housing Market

campus crest - hotelCampus Crest Communities, Inc., a leading developer, builder, owner and manager of high-quality student housing properties, and Beaumont Partners SA (“Beaumont”) have entered a joint venture partnership that acquired the 711 room, 33-story Delta Centre-Ville Hotel in downtown Montreal, Quebec with plans to convert it into an upscale student housing tower.

Situated above the Square-Victoria Metro Station stop, the Montreal acquisition offers easy access to McGill University, Concordia University and L’Ecole de Technologie Superieure (ETS), a part of the Universite du Quebec network, which collectively serve more than 81,500 full-time students. The property is located in the heart of downtown Montreal, within walking distance of Old Montreal, the Bell Centre sports and entertainment complex, the Central Train Station and numerous dining and cultural attractions.

Once complete, the property will feature high-end appointments and expects to attract undergraduate and graduate students offering an upscale housing alternative with modern, attractively furnished rooms and a range of amenities including a media lounge, fitness center, library and a technology center.

Ample common areas including numerous study lounges will be designed to accommodate social and academic interaction. To foster a sense of community and promote resident engagement, the property will regularly host a variety of activities. Residents will be served by a highly trained, professional staff that includes a general manager, leasing manager, community assistants and a courtesy officer for security purposes. As part of the joint venture agreement, Campus Crest will serve as property manager.

In addition to marking Campus Crest’s entry into Canada, the project is the Company’s second urban, high-rise development. In February, Campus Crest announced a joint venture partnership to develop a 33-story, 850-bed student housing tower in University City, Philadelphia, targeted for completion in the fall of 2014.

The joint venture, which is owned 20% by Campus Crest and 80% by Beaumont, paid approximately $60 million for the property, including closing costs, fees and reserves. The partnership expects to obtain redevelopment financing later this year to fund the conversion of the hotel into an upscale student housing tower featuring a mix of single and double units. The redevelopment of the tower is slated to be completed for the fall of 2014, with leasing to begin in the fall of 2013.

“We are excited to align ourselves with Beaumont to acquire an asset in an irreplaceable location in the heart of downtown Montreal at discount to replacement cost,” said Ted W. Rollins, Co-Chairman of the Board and Chief Executive Officer of Campus Crest. “We have been evaluating the Canadian market for years and believe this is the right opportunity with the right partner to bring our unique brand of student housing to our North American neighbors.”

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Ted Rollins and Campus Crest Build Jamaica Orphanage Playground

Ted Rollins and Campus Crest Build Jamaica Orphanage Playground

Ted Rollins and a hard-working group of Campus Crest employees built a much-need 3200-square foot modern playground for the children at the SOS Village in Montego Bay Jamaica in April

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A Look at Ted Rollins’ Alma Mater

Ted Rollins, CEO of Campus Crest, received his BSBA from the Citadel and his MBA from the Fuqua School of Business at Duke University.

The Fuqua School of Business is named for J.B. Fuqua, born in 1918 and raised by his grandparents on a tobacco farm in Prince Edward County, Virginia. Fuqua began his relationship with Duke University as a teenage student, when he borrowed books by mail from the Duke library. Fuqua never went to college.

Campus CrestAmong his many accomplishments, he is best known as the founder and chairman of Fuqua Industries, Inc., an Atlanta-based Fortune 500 company. The small brick manufacturing company grew to become a multi-billion-dollar conglomerate of business holdings. Fuqua’s cumulative giving to Duke totaled nearly $40 million, establishing him as one of Duke’s largest individual benefactors.

Since its founding, The Fuqua School of Business has established itself as a leading educator and supplier of future business leaders at all levels around the globe. The school earned this leadership position with the help of corporate partners who derive value from their relationships with Fuqua.

Corporate partners are provided with premier opportunities to recruit from among the nation’s top MBA graduates, to sponsor Executive MBA programs, to collaborate with our faculty in areas of research and customized corporate education, to partner with students in enriching the MBA experience, and to gain visibility through support of institutional programs and capital projects.

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Fortegra Financial Corporation; a proud history and promising future

Ted Rollins, CEO of Campus Crest, is lead director, member of the audit committee and chairman of the governance committee of Fortegra Financial Corporation (NYSE: FRF), a leading insurance services company.

The Fortegra legacy began over 30 years ago when N.G. Houston III founded Life of the South in a small town in south central Georgia. From the late 70’s to 2007 Mr. Houston, Ned Hamil and Loyd Shaw led the development of the Southeast’s most well respected credit insurer.

Also, during that time they had relocated the company’s headquarters to the current location of Jacksonville, FL. In 2007, the company was recapitalized and renamed Fortegra Financial Corporation.  The name “Fortegra” was chosen because it represents fortitude and integrity. These are the values that have been instilled in the company and continue to be a focus of the Fortegra brand today.

Campus Crest

Since 2007, Fortegra has grown into a leader in the insurance services sector. The company is recognized as a leader in revenue enhancement programs with our credit insurance, service contracts and warranty products.

Since 2003, Fortegra has evolved into a multifaceted insurance holding company because of the leadership position created through diversifying operations into a worldwide insurance products and services company. Its expertise in niche markets complimented by modern technologies has resulted in successful revenue and profit enrichment solutions for all of its clients.

Fortegra is constantly pursuing growth opportunities by providing new and innovative revenue and profit enhancement products to clients that allow them to generate incremental revenue per transaction while reducing costs; expanding its client base in existing markets through its direct sales force; entering new markets through geographic expansion in the U.S. and pursuing strategic acquisitions of complementary businesses within each segment to expand service offerings, access new markets and expand the client base.

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