Organization and Description of Business

3 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1. Organization and Description of Business

Campus Crest Communities, Inc., together with its subsidiaries, referred to herein as the “Company,” and “Campus Crest,” is a self-managed and self-administered real estate investment trust (“REIT”) focused on owning and managing a high-quality student housing portfolio located close to college campuses. The Company currently owns the sole general partner interest and owns limited partner interests in Campus Crest Communities Operating Partnership, LP (the “Operating Partnership”). The Company holds substantially all of its assets, and conducts substantially all of its business, through the Operating Partnership.

Campus Crest has made an election to qualify, and the Company believes it is operating so as to qualify, as a REIT under Sections 856 through 859 of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”). As a REIT, the Company generally will not be subject to U.S. federal income tax to the extent that the Company meets the organizational and operational requirements and its distributions equal or exceed 90.0% of REIT taxable income. For all periods subsequent to the REIT election, the Company has met the organizational and operational requirements and distributions have exceeded net taxable income.

The Company has made the election to treat Campus Crest TRS Holdings, Inc. ("TRS Holdings"), its wholly-owned subsidiary, as a taxable REIT subsidiary (“TRS”). TRS Holdings holds the development, construction and management companies (see Note 4 regarding the discontinuation of operations of the Company’s development and construction services companies) that provide services to entities in which the Company does not own 100% of the equity interests. As a TRS, the operations of TRS Holdings and its subsidiaries are generally subject to federal, state and local income and franchise taxes.

As of March 31, 2015, the Company has ownership interests in 44 operating student housing Grove properties containing approximately 9,000 apartment units and 24,700 beds. Thirty-six of the Company’s operating Grove properties are wholly-owned and eight of the Company’s operating Grove properties are owned through joint ventures with Harrison Street Real Estate Capital ("HSRE"). Additionally, the Company holds ownership interests in three  evo®  properties as joint ventures containing approximately 1,500 units and 3,000 beds, one with HSRE and Brandywine Realty Trust ("Brandywine"), and two with Beaumont Partners SA (“Beaumont”). The Company also has one wholly owned redevelopment property containing approximately 170 units and 340 beds. As of March 31, 2015, the Company held a 100% interest in 26 Copper Beech operating properties with approximately 3,700 units and 10,500 beds and varying ownership interests in 9 operating properties with approximately 2,400 units and 6,000 beds.

	Properties in
	Operation
Wholly owned Grove properties		36
Joint Venture Grove properties		8
Total Grove Properties		44
Joint Venture evo properties		3
Wholly owned Copper Beech properties		26
Joint Venture owned Copper Beech properties(1)		9
Total Copper Beech properties		35
Total Portfolio(2)		82

⁽¹⁾ The Company holds a 48% ownership interest in 7 unconsolidated properties, as well as an 84% interest in one property and an 85% interest in one property, both of which are consolidated. See Notes 6 and 18 for additional information.

⁽²⁾ The Company’s 100% owned redevelopment property in Toledo, Ohio, which was acquired in March 2013 is excluded. As of December 31, 2014 and March 31, 2015, this property was classified as held for sale.

Subsequent to March 31, 2015, the Company engaged in additional transactions related to the remaining interest in the Copper Beech Portfolio (see Note 18).