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Stock Market & Financial Investment News

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August 19, 2014
08:31 EDTCCGCampus Crest elects not to exercise Copper Beech purchase option
Campus Crest announced that it has elected not to exercise the first purchase option to acquire additional interests in the entities comprising the 37 property Copper Beech portfolio and will revert to a 48% economic interest in the portfolio. The company said, "As per the terms of the amended purchase and sale agreement, effective today we will hold a 48% economic interest in the 37 property portfolio. Separately, we maintain our 67% economic interest in the Copper Beech asset located in Ames, Iowa. Our earnings guidance released on July 31, which already assumed a 48% economic interest in Copper Beech, remains unchanged at this time.
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