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2011 NAREIT Investor Presentation
                                        August 2010

0
Forward Looking Statements


    This presentation contains certain forward-looking statements that are subject to risks and uncertainties.
    These forward-looking statements are based on certain assumptions, discuss future expectations,
    describe future plans and strategies, contain financial and operating projections or state other forward-
    looking information. The Company’s ability to predict results or the actual effect of future events, actions,
    plans or strategies is inherently uncertain. Although the Company believes that the expectations reflected
    in such forward-looking statements are based on reasonable assumptions, the Company’s actual results
    and performance could differ materially from those set forth in, or implied by, the forward-looking
    statements. You are cautioned not to place undue reliance on any of these forward-looking statements,
    which reflect the Company’s views on this date. Furthermore, except as required by law, the Company is
    under no duty to, and does not intend to, update any of our forward-looking statements after this date,
    whether as a result of new information, future events or otherwise.

    This presentation does not constitute, and may not be used in connection with, an offer or solicitation by
    anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person
    making the offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make
    such offer or solicitation.




1
Investment Highlights
                                                  ®
                                         The Grove at Greeley, CO


     Compelling Market Dynamics




     Modern, Well-Located Portfolio in
     Solid Growth Markets



     Proven Track Record with
     Significant Growth Potential                 ®
                                         The Grove at Nacogdoches, TX




     Experienced Team with
     Value-Maximizing Platform




     Conservative Capital Structure




2
Compelling Market Dynamics


                 §   Echo Boom drives enrollment growth
                 §   Increasing percentage of high-school                      College Enrollments (1957-2012)
                                                                                                   (1957-
                     graduates attending college
Demand           §   Increasing foreign enrollments              (millions)                                                     Echo Boom
                                                                                                                             Enrolling in College
Drivers          §   Increasing percentage of full-time vs.
                     part-time students
                 §   Students taking longer to graduate                                  Baby Boom
                                                                                      Enrolling in College




                 §   Budgets constrain on-campus
                     housing investment
                       §   38 states cut their educational
Supply                     budgets during the recession
Factors          §   Existing on-campus housing stock
                     becoming increasingly obsolete
                 §   Lack of construction financing is
                     restricting new entrants                 Source: Dept. of Education, National Center for Educational Statistics




          Enrollment expected to increase by ~1.5 million students over the next 8 years


3
Attractive Portfolio and Growth Platform




                                                                                                   Ø   Newest portfolio of student housing assets

                                                                                                        Ø    Amenity rich – bed/bath parity, resort-style activities

                                                                                                        Ø    Close proximity to campus

                                                                                                        Ø    Barriers to entry

                                                                                                        Ø    Lower cap-ex requirements




                                Portfolio Highlights                                               Ø   Proactive focus on medium-sized, high-growth markets

             Properties (1)                                                   27                        Ø    Markets have strong enrollment growth – 9.5%
                                                                                                             average growth (3)
             Total Units / Beds (1)                         5,048 / 13,580
                                                                                                        Ø    Less institutional competition & comparable product
             Weighted Average Age (2)                               2.5 years
                                                                                                        Ø    Stronger tuition value proposition

             Average Distance to Campus                             0.6 miles
                                                                                                            (3) Source: Reported enrollment statistics from university websites;
                                                                                                            Represents enrollment growth from the academic year 2006/2007 to
                                                                                                            the academic year 2010/2011
             Occupancy (2)                                                 89%

4      (1)    Includes 6 joint venture properties in which Campus Crest owns a 49.9% member interest
       (2)    As of 6/6/2011
Why Our Markets



Stronger Enrollment
                           §   Our markets benefit from higher enrollment growth than primary markets
Growth



                           §   On-campus atmosphere with advantages of off-campus economics
Unique Relationships
                           §   Benefits from symbiotic relationships with universities
with Universities
                           §   Greater impact from marketing dollars



                           §   Well-established university markets with protective community councils

Higher Barriers to Entry   §   Superior land acquisition and entitlement capabilities

                           §   Lack of available financing for local operators




Construction Cost          §   We are able to build a superior product at a lower cost because of our captive
Advantage                      general contractor and wholesale purchaser




5
The Evolution of Student Housing – The Dormitory Era




         Traditional on-campus, “dormitory-style” housing alternatives have generally
        consisted of shared rooms, communal bathroom facilities and extremely limited
                                (if any) amenities and parking

6
The Evolution of Student Housing – Our Student Housing




         Purpose-built student housing is specifically designed to appeal to modern-
         day college students with broad on-site amenities, enhanced privacy and a
                           focus on the overall lifestyle experience

7
The Evolution of Student Housing – State of the Art Prototype
             ®
    The Grove at Ellensburg, WA




                                                ®
                                       The Grove at Moscow, ID


             ®                                      ®                         ®
    The Grove at Mobile, AL              The Grove at                The Grove at
                                         Nacogdoches, TX             Nacogdoches, TX




                                                ®
                                       The Grove at Ellensburg, WA


8
Our Properties are Attractive and Amenity-Rich

      Apartment Features:

      Ø     Private bedrooms with keyed locks

      Ø     En suite bathrooms

      Ø     Full furnishings and full kitchens

      Ø     Modern appliances and washers/dryers

      Ø     State-of-the-art technology

      Ø     Ample parking

      Ø     Gated entrances

      On-site Amenities:

      Ø     Resort-style swimming pools

      Ø     Basketball and volleyball courts

      Ø     Game rooms and coffee bars

      Ø     Fitness centers

      Ø     Community clubhouses


          All of our apartment communities offer bed-bath parity, attractively furnished units
              and a variety of on-site amenities designed to appeal to the college lifestyle

9
Our Properties are Universally Branded The Grove®




     At The Grove®, we offer a “fully-loaded college living” experience through our consistent
                                branding and operating philosophy

10
Intensive Asset Management Philosophy

                                      Ø   Regular property inspections and audits performed by asset
                                          management team using 800 point check list


                                      Ø   Field-focused executive management team


                                      Ø   Vertical integration and overlap of construction management and
                                          facilities management leads to superior asset performance


                                      Ø   Proprietary Residence Life Programming through SCORES:

                                             Ø   S – social

                                             Ø   C – cultural

                                             Ø   O – outreach

                                             Ø   R – recreational

                                             Ø   E – educational

                                             Ø   S – spiritual


                                      Ø   “The Grove Nation” culture drives excitement, customer focus
                                          and unmatched residence life experiences


     Intensive asset management philosophy employed throughout our organization


11
Identified Pipeline of Future Development Opportunities


                                                   Ø   Development site selection criteria

                                                        Ø   High enrollment growth colleges / universities

                                                        Ø   Limited competing product

                                                        Ø   Proximity to campus

                                                   Ø   Vertically integrated, highly scalable operating platform

                                                        Ø   Property & asset management

                                                        Ø   Development & construction

                                                        Ø   Wholesale supply

                                                   Ø   Prototypical roll-out

                                                        Ø   Reduces costs and shortens development period

                                                        Ø   Proven track record – developed ~$500 million of
                                                            student housing properties



     Identified 200+ potential markets & conducting due diligence on 80 sites as
                         potential development opportunities

12
2011 Development Projects (2011/2012 Academic Year Occupancy)

($ in thousands)

 Project                                  Enrollment   Distance to Campus   Units / Beds    Estimated Cost


 Wholly-Owned Developments
 Ft. Wayne, IN                            Ø   13,675       Ø   1.1 miles    Ø   204 / 540     Ø   $19,926
 Indiana University / Purdue University
 Clarksville, TN                          Ø   10,188       Ø   1.3 miles    Ø   208 / 560     Ø   $21,203
 Austin Peay State University
 Ames, IA                                 Ø   27,945       Ø   0.3 miles    Ø   216 / 584     Ø   $21,411
 Iowa State University
 Columbia, MO                             Ø   32,415       Ø   0.9 miles    Ø   216 / 632     Ø   $24,931
 University of Missouri



 Joint Venture Developments
 Denton, TX                               Ø   36,123       Ø   0.8 miles    Ø   216 / 584     Ø   $24,953
 University of North Texas
 Valdosta, GA                             Ø   12,391       Ø   1.9 miles    Ø   216 / 584     Ø   $21,150
 Valdosta State University



          We utilize a proprietary underwriting model with over 60 inputs to evaluate the relative
         attractiveness of each market, which we then use to prioritize development opportunities
  13
Proven and Scalable Business Model

                                                         Total Number of Beds (All Properties)




                                                                                                           (1)




                                                          Number of Properties (All Properties)




                                                                                                             (1)



                                                                Existing Properties         New Openings



       Campus Crest has grown to over 13,500 beds over the last five years by leveraging its
     platform and brand to deliver a uniform student housing product across multiple markets

14      (1)   2011E includes 4 wholly-owned developments and 2 joint venture developments
Increasing Occupancy and RevPOB


             Historical Weighted Average Occupancy (1)                                                           Historical Weighted Average RevPOB (2)

Openings              6              9              5              3             n/a                Openings            6              9           5        3        n/a

     Total           10             19             24             27              27                   Total           10             19          24       27        27

                                                                                                       $550
 100%                                                                                                                                                     $482
                   88%           87%                                            89%                    $500          $448            $472        $473              $476
     90%                                         83%            86%
                                                                                                       $450
     80%
                                                                                                       $400
     70%
                                                                                                       $350
     60%                                                                                               $300
     50%                                                                                               $250
     40%                                                                                               $200
     30%                                                                                               $150
     20%                                                                                               $100
     10%                                                                                                 $50
     0%                                                                                                    $0
                 CY2007         CY2008          CY2009         CY 2010        Q1 2011                               CY2007         CY2008        CY2009   CY2010   Q1 2011




                 Campus Crest has delivered occupancy and RevPOB growth while significantly
                                           expanding its portfolio


           (1)   Weighted average occupancy applies to properties that are open for the full calendar year
           (2)   Weighted average RevPOB applies to properties that are open for the full calendar year (or portion being reported); RevPOB is
15               defined as average total revenue per occupied bed (includes student housing leasing and student housing services revenue)
Academic Year 2011/2012 Leasing Update


                            Portfolio Leasing Status for 2011/2012 Academic Year and Current Year Occupancy

                                                                 2011-2012 Leases       2010-2011 Leases       Fall 2010           Current
                                                                          (1)                 (1)                          (2)               (3)
     Property                                   Units    Beds    Signed         %       Signed      %         Occupancy          Occupancy
     Wholly-Owned                              3,920    10,528      7,447       70.7%      6,139    58.3%           88.5%              88.6%

     Joint Venture Properties                  1,128     3,052      2,185       71.6%      2,100    68.8%           89.1%              90.8%
       Sub Total - All Operating Properties    5,048    13,580      9,632       70.9%      8,239    60.7%           88.6%              89.1%

     New Developments (2011 Deliveries)        1,276     3,484      1,855       53.2%        n/a        n/a            n/a               n/a

                    Total Portfolio            6,324    17,064     11,487       67.3%      8,239    60.7%           88.6%              89.1%




          (1)   As of June 6, 2010 and 2011
          (2)   As of September 30, 2010
16        (3)   As of June 6, 2011
Prudent Capital Structure With Fully-Financed Growth

      Capital Structure (Including Pro Rata Share of Joint
                                                                                                                      In-
                                                                                                                      In-Place Financing for Developments
                          Venture Debt)
 ($ in millions)                                                                                    ($ in millions)



     $600                                                                                                                                                   Amount
                                                $529.1
                                                                                                     Revolving Credit Facility                               $38(1)
     $500

                                                                                                     Construction Facilities                                 $70
     $400
                                                                                                     HSRE Equity Commitment                                  $50
     $300
                                                                                                     JV Construction Financing                               $31
     $200
                                                                                                     Potential Leverage on Unencumbered Assets(2)            $80
     $100                                                                  30.4%                     Total Potential Liquidity                               $269

        -
                                            At 3/31/2011


                   Debt            Pro Rata Share of JV Debt               Equity


                                           Capitalized for growth with no maturities until 2014 (3)

             (1)    Revolving credit line for up to $125 million; As of 3/31/2011 the Company had drawn $57.0 million
             (2)    CCG estimate for Ellensburg, Mobile-Phase I & II, Nacogdoches and Greeley
17           (3)    Assumes 1-year extension option on line of credit is exercised
Q1 2011 Performance



 Same-store NOI               §   Increased 5.1%, from $6.3mm in Q1 2010 to $6.6mm in Q1 2011




 Average Same-store           §   Increased 100bps to 88.6% in Q1 2011 compared to the same period a
 Occupancy                        year ago



                              §   RevPOB of $482 compared to $482 the prior year, with increased rental
 Total RevPOB
                                  rates being offset by lower service revenue


                              §   Operating portfolio was 61.5% leased versus 50.6% leased at April 29,
 2011/2012 Pre-leasing            2010
 (wholly-owned and JV)
                              §   Development properties were 43.1% leased at April 29, 2011

                              §   FFO per diluted share of $0.17
 FFO                          §   Adjusted FFO (elimination of change in fair value of interest rate
                                  derivatives) per diluted share of $0.16

             Reiterated FFO per fully diluted share guidance of $0.72 to $0.78

18
Experienced And Proven Leadership

Ted W. Rollins
Co-Founder, Co-Chairman      • 25 years of real estate experience developing and operating service-enriched housing properties
of the Board & Chief
Executive Officer            • Founded Campus Crest in 2004



Michael S. Hartnett
Co-Founder, Co-Chairman      • 25 years of real estate experience developing and operating service-enriched housing properties
of the Board &
Chief Investment Officer     • Founded Campus Crest in 2004



Earl C. Howell
President & Chief            • Over 33 years of experience in service driven businesses; Colonel in U.S. Army Special Forces
Operating Officer
                             • Joined Campus Crest as a consultant in 2009



Donnie L. Bobbitt
Executive Vice President &   • Over 20 years in corporate accounting and senior financial positions at both private
Chief Financial Officer
                               and public companies and Deloitte & Touche LLP



Robert M. Dann               • 25-year industry veteran with significant experience in strategic planning, portfolio and asset
Executive Vice President &     management and operational execution
President of CCREM &
CCD                          • Joined Campus Crest in 2011


19
Investment Highlights

                                                  ®
                                         The Grove at San Angelo, TX

     Experienced Team with
     Value-Maximizing Platform




     Compelling Market Dynamics




     Modern, Well-Located Portfolio in
     Solid Growth Markets                         ®
                                         The Grove at Mobile—Phase II, AL




     Proven Track Record with
     Significant Growth Potential




     Conservative Capital Structure



20

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Nareit reit week 2011 investor presentation

  • 1. 2011 NAREIT Investor Presentation August 2010 0
  • 2. Forward Looking Statements This presentation contains certain forward-looking statements that are subject to risks and uncertainties. These forward-looking statements are based on certain assumptions, discuss future expectations, describe future plans and strategies, contain financial and operating projections or state other forward- looking information. The Company’s ability to predict results or the actual effect of future events, actions, plans or strategies is inherently uncertain. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, the Company’s actual results and performance could differ materially from those set forth in, or implied by, the forward-looking statements. You are cautioned not to place undue reliance on any of these forward-looking statements, which reflect the Company’s views on this date. Furthermore, except as required by law, the Company is under no duty to, and does not intend to, update any of our forward-looking statements after this date, whether as a result of new information, future events or otherwise. This presentation does not constitute, and may not be used in connection with, an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not permitted by law or in which the person making the offer or solicitation is not qualified to do so or to any person to whom it is unlawful to make such offer or solicitation. 1
  • 3. Investment Highlights ® The Grove at Greeley, CO Compelling Market Dynamics Modern, Well-Located Portfolio in Solid Growth Markets Proven Track Record with Significant Growth Potential ® The Grove at Nacogdoches, TX Experienced Team with Value-Maximizing Platform Conservative Capital Structure 2
  • 4. Compelling Market Dynamics § Echo Boom drives enrollment growth § Increasing percentage of high-school College Enrollments (1957-2012) (1957- graduates attending college Demand § Increasing foreign enrollments (millions) Echo Boom Enrolling in College Drivers § Increasing percentage of full-time vs. part-time students § Students taking longer to graduate Baby Boom Enrolling in College § Budgets constrain on-campus housing investment § 38 states cut their educational Supply budgets during the recession Factors § Existing on-campus housing stock becoming increasingly obsolete § Lack of construction financing is restricting new entrants Source: Dept. of Education, National Center for Educational Statistics Enrollment expected to increase by ~1.5 million students over the next 8 years 3
  • 5. Attractive Portfolio and Growth Platform Ø Newest portfolio of student housing assets Ø Amenity rich – bed/bath parity, resort-style activities Ø Close proximity to campus Ø Barriers to entry Ø Lower cap-ex requirements Portfolio Highlights Ø Proactive focus on medium-sized, high-growth markets Properties (1) 27 Ø Markets have strong enrollment growth – 9.5% average growth (3) Total Units / Beds (1) 5,048 / 13,580 Ø Less institutional competition & comparable product Weighted Average Age (2) 2.5 years Ø Stronger tuition value proposition Average Distance to Campus 0.6 miles (3) Source: Reported enrollment statistics from university websites; Represents enrollment growth from the academic year 2006/2007 to the academic year 2010/2011 Occupancy (2) 89% 4 (1) Includes 6 joint venture properties in which Campus Crest owns a 49.9% member interest (2) As of 6/6/2011
  • 6. Why Our Markets Stronger Enrollment § Our markets benefit from higher enrollment growth than primary markets Growth § On-campus atmosphere with advantages of off-campus economics Unique Relationships § Benefits from symbiotic relationships with universities with Universities § Greater impact from marketing dollars § Well-established university markets with protective community councils Higher Barriers to Entry § Superior land acquisition and entitlement capabilities § Lack of available financing for local operators Construction Cost § We are able to build a superior product at a lower cost because of our captive Advantage general contractor and wholesale purchaser 5
  • 7. The Evolution of Student Housing – The Dormitory Era Traditional on-campus, “dormitory-style” housing alternatives have generally consisted of shared rooms, communal bathroom facilities and extremely limited (if any) amenities and parking 6
  • 8. The Evolution of Student Housing – Our Student Housing Purpose-built student housing is specifically designed to appeal to modern- day college students with broad on-site amenities, enhanced privacy and a focus on the overall lifestyle experience 7
  • 9. The Evolution of Student Housing – State of the Art Prototype ® The Grove at Ellensburg, WA ® The Grove at Moscow, ID ® ® ® The Grove at Mobile, AL The Grove at The Grove at Nacogdoches, TX Nacogdoches, TX ® The Grove at Ellensburg, WA 8
  • 10. Our Properties are Attractive and Amenity-Rich Apartment Features: Ø Private bedrooms with keyed locks Ø En suite bathrooms Ø Full furnishings and full kitchens Ø Modern appliances and washers/dryers Ø State-of-the-art technology Ø Ample parking Ø Gated entrances On-site Amenities: Ø Resort-style swimming pools Ø Basketball and volleyball courts Ø Game rooms and coffee bars Ø Fitness centers Ø Community clubhouses All of our apartment communities offer bed-bath parity, attractively furnished units and a variety of on-site amenities designed to appeal to the college lifestyle 9
  • 11. Our Properties are Universally Branded The Grove® At The Grove®, we offer a “fully-loaded college living” experience through our consistent branding and operating philosophy 10
  • 12. Intensive Asset Management Philosophy Ø Regular property inspections and audits performed by asset management team using 800 point check list Ø Field-focused executive management team Ø Vertical integration and overlap of construction management and facilities management leads to superior asset performance Ø Proprietary Residence Life Programming through SCORES: Ø S – social Ø C – cultural Ø O – outreach Ø R – recreational Ø E – educational Ø S – spiritual Ø “The Grove Nation” culture drives excitement, customer focus and unmatched residence life experiences Intensive asset management philosophy employed throughout our organization 11
  • 13. Identified Pipeline of Future Development Opportunities Ø Development site selection criteria Ø High enrollment growth colleges / universities Ø Limited competing product Ø Proximity to campus Ø Vertically integrated, highly scalable operating platform Ø Property & asset management Ø Development & construction Ø Wholesale supply Ø Prototypical roll-out Ø Reduces costs and shortens development period Ø Proven track record – developed ~$500 million of student housing properties Identified 200+ potential markets & conducting due diligence on 80 sites as potential development opportunities 12
  • 14. 2011 Development Projects (2011/2012 Academic Year Occupancy) ($ in thousands) Project Enrollment Distance to Campus Units / Beds Estimated Cost Wholly-Owned Developments Ft. Wayne, IN Ø 13,675 Ø 1.1 miles Ø 204 / 540 Ø $19,926 Indiana University / Purdue University Clarksville, TN Ø 10,188 Ø 1.3 miles Ø 208 / 560 Ø $21,203 Austin Peay State University Ames, IA Ø 27,945 Ø 0.3 miles Ø 216 / 584 Ø $21,411 Iowa State University Columbia, MO Ø 32,415 Ø 0.9 miles Ø 216 / 632 Ø $24,931 University of Missouri Joint Venture Developments Denton, TX Ø 36,123 Ø 0.8 miles Ø 216 / 584 Ø $24,953 University of North Texas Valdosta, GA Ø 12,391 Ø 1.9 miles Ø 216 / 584 Ø $21,150 Valdosta State University We utilize a proprietary underwriting model with over 60 inputs to evaluate the relative attractiveness of each market, which we then use to prioritize development opportunities 13
  • 15. Proven and Scalable Business Model Total Number of Beds (All Properties) (1) Number of Properties (All Properties) (1) Existing Properties New Openings Campus Crest has grown to over 13,500 beds over the last five years by leveraging its platform and brand to deliver a uniform student housing product across multiple markets 14 (1) 2011E includes 4 wholly-owned developments and 2 joint venture developments
  • 16. Increasing Occupancy and RevPOB Historical Weighted Average Occupancy (1) Historical Weighted Average RevPOB (2) Openings 6 9 5 3 n/a Openings 6 9 5 3 n/a Total 10 19 24 27 27 Total 10 19 24 27 27 $550 100% $482 88% 87% 89% $500 $448 $472 $473 $476 90% 83% 86% $450 80% $400 70% $350 60% $300 50% $250 40% $200 30% $150 20% $100 10% $50 0% $0 CY2007 CY2008 CY2009 CY 2010 Q1 2011 CY2007 CY2008 CY2009 CY2010 Q1 2011 Campus Crest has delivered occupancy and RevPOB growth while significantly expanding its portfolio (1) Weighted average occupancy applies to properties that are open for the full calendar year (2) Weighted average RevPOB applies to properties that are open for the full calendar year (or portion being reported); RevPOB is 15 defined as average total revenue per occupied bed (includes student housing leasing and student housing services revenue)
  • 17. Academic Year 2011/2012 Leasing Update Portfolio Leasing Status for 2011/2012 Academic Year and Current Year Occupancy 2011-2012 Leases 2010-2011 Leases Fall 2010 Current (1) (1) (2) (3) Property Units Beds Signed % Signed % Occupancy Occupancy Wholly-Owned 3,920 10,528 7,447 70.7% 6,139 58.3% 88.5% 88.6% Joint Venture Properties 1,128 3,052 2,185 71.6% 2,100 68.8% 89.1% 90.8% Sub Total - All Operating Properties 5,048 13,580 9,632 70.9% 8,239 60.7% 88.6% 89.1% New Developments (2011 Deliveries) 1,276 3,484 1,855 53.2% n/a n/a n/a n/a Total Portfolio 6,324 17,064 11,487 67.3% 8,239 60.7% 88.6% 89.1% (1) As of June 6, 2010 and 2011 (2) As of September 30, 2010 16 (3) As of June 6, 2011
  • 18. Prudent Capital Structure With Fully-Financed Growth Capital Structure (Including Pro Rata Share of Joint In- In-Place Financing for Developments Venture Debt) ($ in millions) ($ in millions) $600 Amount $529.1 Revolving Credit Facility $38(1) $500 Construction Facilities $70 $400 HSRE Equity Commitment $50 $300 JV Construction Financing $31 $200 Potential Leverage on Unencumbered Assets(2) $80 $100 30.4% Total Potential Liquidity $269 - At 3/31/2011 Debt Pro Rata Share of JV Debt Equity Capitalized for growth with no maturities until 2014 (3) (1) Revolving credit line for up to $125 million; As of 3/31/2011 the Company had drawn $57.0 million (2) CCG estimate for Ellensburg, Mobile-Phase I & II, Nacogdoches and Greeley 17 (3) Assumes 1-year extension option on line of credit is exercised
  • 19. Q1 2011 Performance Same-store NOI § Increased 5.1%, from $6.3mm in Q1 2010 to $6.6mm in Q1 2011 Average Same-store § Increased 100bps to 88.6% in Q1 2011 compared to the same period a Occupancy year ago § RevPOB of $482 compared to $482 the prior year, with increased rental Total RevPOB rates being offset by lower service revenue § Operating portfolio was 61.5% leased versus 50.6% leased at April 29, 2011/2012 Pre-leasing 2010 (wholly-owned and JV) § Development properties were 43.1% leased at April 29, 2011 § FFO per diluted share of $0.17 FFO § Adjusted FFO (elimination of change in fair value of interest rate derivatives) per diluted share of $0.16 Reiterated FFO per fully diluted share guidance of $0.72 to $0.78 18
  • 20. Experienced And Proven Leadership Ted W. Rollins Co-Founder, Co-Chairman • 25 years of real estate experience developing and operating service-enriched housing properties of the Board & Chief Executive Officer • Founded Campus Crest in 2004 Michael S. Hartnett Co-Founder, Co-Chairman • 25 years of real estate experience developing and operating service-enriched housing properties of the Board & Chief Investment Officer • Founded Campus Crest in 2004 Earl C. Howell President & Chief • Over 33 years of experience in service driven businesses; Colonel in U.S. Army Special Forces Operating Officer • Joined Campus Crest as a consultant in 2009 Donnie L. Bobbitt Executive Vice President & • Over 20 years in corporate accounting and senior financial positions at both private Chief Financial Officer and public companies and Deloitte & Touche LLP Robert M. Dann • 25-year industry veteran with significant experience in strategic planning, portfolio and asset Executive Vice President & management and operational execution President of CCREM & CCD • Joined Campus Crest in 2011 19
  • 21. Investment Highlights ® The Grove at San Angelo, TX Experienced Team with Value-Maximizing Platform Compelling Market Dynamics Modern, Well-Located Portfolio in Solid Growth Markets ® The Grove at Mobile—Phase II, AL Proven Track Record with Significant Growth Potential Conservative Capital Structure 20