Campus Crest Communities, a vertically-integrated REIT focused on high-quality student housing properties, announced terms for its IPO on Monday. The Charlotte, NC-based company plans to raise $383 million by offering 28.3 million shares at a price range of $12.50-$14.50. At the mid-point of the proposed range, Campus Crest will command a market value of $401 million. Campus Crest Communities, which was founded in 2004 and booked $107 million in sales last year, plans to list on the NYSE under the symbol CCG. Raymond James, Citi and Goldman, Sachs & Co. are the lead underwriters on the deal, for which timing was not disclosed.
