CREW CAMPUS PRIVATE REIT ADVISOR ANNOUNCES NEW INCENTIVE PROGRAM​

Press Release

FOR IMMEDIATE RELEASE

Early investors accepted in Q1 and Q2 2024 will have performance fees waived during specified incentive periods.

Aliso Viejo, CA (April 23, 2024) – Crew Campus Private REIT (“Crew Campus”) is announcing a performance fee waiver incentive program (“Incentive Program”) to benefit early investors in their newly launched private REIT.

Following Crew Campus’ announcement in February 2024 celebrating the acquisition of a 297-bed seed asset located near Baylor University, investors are now poised to receive even more benefits following changes to the offering and the launch of the incentive program. 

“Investors who are accepted into the Crew Campus Private REIT during incentive periods will no longer be subject to the performance fee typically earned by the advisor,” comments Jeff Daly, CEO of Crew Campus. “This Incentive Program fee waiver applies to the life of the investor’s investment; the original investment, as well as investments pursuant to the DRIP.”

“Investors who are accepted into the Crew Campus Private REIT during incentive periods will no longer be subject to the performance fee typically earned by the advisor.”

Jeff Daly, CEO of Crew Campus, Inc.

Beyond the incentive program, Crew Campus is making the following changes to the offering in its most recent supplement: 

  1. There will be no disposition fees associated with the sale of private REIT assets.
  2. The advisor’s performance allocation is being updated. The original PPM contemplated an 80/20 performance split, in favor of the investor, after achieving an 8% hurdle rate. This has been updated to 87.5/12.5 after a 5% hurdle.
  3. The minimum investment requirement is being reduced from $25,000 to $5,000.

“Crew Campus REIT is a pure play student housing private REIT option for investors looking to build a diversified real estate portfolio,” shares Daly. “These changes introduce an institutional pricing model that aligns the advisor and investors interests evenly.” 

Incentive Program

No Performance Fees*

No Disposition Fees

There will be no disposition fees associated with the sale of REIT assets.

Allocations Increased

Before
80/20

8% Hurdle Rate

After
87.5/12.5

5% Hurdle Rate

The advisor’s performance allocation is being updated to 87.5/12.5 after a 5% hurdle, in favor of the investor. The original PPM contemplated an 80/20 performance split, after achieving an 8% hurdle rate.

Minimum Investment**

Before $25,000

After
$5,000

*The incentive program fee waiver applies to the life of the investor’s investment; the original investment, as well as investments pursuant to the DRIP.

**Accredited Investors Only

"This Incentive Program Fee waiver applies to the life of the Investor's investment; the original investment, as well as investments pursuant to the DRIP."

Jeff Daly, CEO of Crew Campus, Inc.
Student housing remains an ascendant asset class in the early stages of institutional adoption. Both larger institutional and cross-border investors continue to be attracted to the category due to its favorable supply/demand characteristics as well as the sector’s historical stability and resiliency of cash flows. Beyond the changes to the offering comes a rebranding of the private REIT asset. The property, previously called Oso Verde Apartments has been renamed The Green at Waco, an homage to the city in which the property is located along with its proximity to Baylor University. “We thought it was fitting to give the property a refreshed brand identity,” states Blake Wettengel, CEO of Crew Enterprises. “The property has been around since 2015, and with our reinvigorated corporate identity here at Crew Enterprises, we felt a new name for our first portfolio asset was a way for us to signal to investors our ability to continuously improve our properties and the experiences we provide for tenants.”
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