Tag Archives: student housing

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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Ted Rollins shares real estate management directives

Ted Rollins, CEO of Campus Crest, is dedicated to four specific directives in terms of real estate management of his properties.  In order to insure quality, these principles were developed to help manage the sites with quality and proactive response.

The first directive is “keep it pretty”.  It’s nearly impossible to change a person’s first impression. So the appearance of Campus Crest Communities is vital to attracting prospective residents. Rollins’ property level management teams are accountable for regular reporting, preparing for executive management site visits, quarterly quality audits and most importantly, maintaining a facility that our residents can be proud of and their friends envious.

“Keep ’em fun” is the second initiative. Creating the lifestyle is what sets Campus Crest apart from everyone else. Getting students and staff involved in something bigger than themselves, including helping to create friendships and lifelong bonds. There are so many great events ranging from Crawfish boils to yoga classes. Rollins is creating more than just a place to stay; he’s creating a community.

Thirdly, the dedicated Campus Crest teams are committed to “keep ‘em full”.  Nobody wants empty rooms, so staff is educated on the best ways to sell the Grove Lifestyle. They’re also trained in hospitality management, lifestyle programming and customer service. As a result, resident retention is one of the highest in the industry.Ted-Rollins-CampusCrest-students-Housing

“We want everyone to know that we don’t just build and fill buildings,” said Rollins.  “We create communities. And we use this message to help achieve our leasing goals.”

Finally, the end goal is to “keep ’em profitable”.  As for most businesses, profit is essential. Campus Crest has been working with one of the leading multifamily software designers to create a platform for its operating properties. It gives real-time data to the local area and corporate managers in order to keep a tight control on property operating expenses.

“We educate our mangers to focus on creating a stronger bottom line so the company and everyone involved can enjoy the opportunities it brings,” said Rollins.

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Ted Rollins and Mike Hartnett partnered with the American Red Cross to Save Lives

Ted Rollins, co-founder and chief executive officer, and Mike Hartnett, co-founder and chief investment officer of Campus Crest partnered with the American Red Cross, the largest single supplier of blood and blood products in the United States, and other non-profit, community blood centers where it owns and operates student housing properties to donate a total of 574 units of blood. According to the American Red Cross, one unit of blood can save up to three lives. As a result, Campus Crest’s donation can potentially help save up to 1,722 lives through the use of red cells, platelets and plasma the donated blood provides.

The blood drive is part of Campus Crest’s Grove Outreach Team (“GO Team”) service program that supports various charitable initiatives the company implements at its corporate office and in the communities in which it owns and operates student housing properties.Ted Rollins and RedCross

“This initiative is a way for our organization and our student residents to join forces and contribute to an important social cause that saves lives. We are proud to partner with these dedicated suppliers and we thank everyone who donated blood in support of their service to our nation’s health care systems,” said Rollins.

The GO Team program provides student tenants and Campus Crest employees with an opportunity to contribute to social and community causes.

“We are so grateful for the wonderful partnership with Campus Crest Communities and the staff, students, and supporters who have given the most important gift of all…The gift of life-saving blood,” said Bonnie McElveen-Hunter, chairman of the American Red Cross.

“The Red Cross relies on dedicated community sponsors like Campus Crest to fulfill its lifesaving mission. On behalf of the entire Red Cross and all of the people who are alive today because of the selfless donors who took part in this campaign, I want to say a heartfelt thank you,” said McElveen-Hunter.

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Ted Rollins Focuses on Creating a Lifestyle and Atmosphere That is Unmatched

While other student housing complexes may have similar facilities, Campus Crest does things a little differently. CEO Ted Rollins along with Mike Hartnett, co-founder and chief investment officer, focus on creating a lifestyle and atmosphere that is unmatched.

Campus Crest Communities, Inc. is a leading developer, builder, owner and manager of high-quality, purpose-built student housing under The Grove brand.

“We want to help others form bonds, inspire change, and be successful,” said Rollins. “Get the residents to feel like they belong to something bigger than themselves. This isn’t just a place to stay; it’s a place to live.”

The brand promise for Campus Crest is delivering an extraordinary student lifestyle experience. Ted Rollins Students

Rollins explains that the student is the heart and soul of Campus Crest and the source of inspiration, dedication and drive.

“Every day, we strive to go above and beyond to provide unparalleled service to them, their parents and the institutions they attend. With each class that graduates, we are helping build the future and we take that responsibility very seriously,” Rollins said.

Both founders have a strong commitment to helping others through the Horatio Alger Association. Horatio Alger inspired young people to believe in the American dream. He felt if someone worked hard enough and never gave up, they could achieve anything they wanted.

Campus Crest awards three four-year housing scholarships at each location to those who receive the Horatio Alger scholarship. http://www.horatioalger.com/giving.cfm

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