Name | State and Form of Organization |
| 1. Campus Crest Communities GP, LLC | Delaware — Limited Liability Company |
| 2. Campus Crest Communities LP, LLC | Delaware — Limited Liability Company |
| 3. Campus Crest Communities Operating Partnership, LP | Delaware — Limited Partnership |
| 4. Campus Crest Group, LLC | North Carolina — Limited Liability Company |
| 5. Campus Crest at Asheville, LLC | Delaware — Limited Liability Company |
| 6. Campus Crest at Carrollton, LLC | Delaware — Limited Liability Company |
| 7. Campus Crest at Las Cruces, LLC | Delaware — Limited Liability Company |
| 8. Campus Crest at Milledgeville, LLC | Delaware — Limited Liability Company |
| 9. Campus Crest at Abilene, LP | Delaware — Limited Partnership |
| 10. Campus Crest at Ellensburg, LLC | Delaware — Limited Liability Company |
| 11. Campus Crest at Greeley, LLC | Delaware — Limited Liability Company |
| 12. Campus Crest at Mobile, LLC | Delaware — Limited Liability Company |
| 13. Campus Crest at Mobile Phase II, LLC | Delaware — Limited Liability Company |
| 14. Campus Crest at Nacogdoches, LP | Delaware — Limited Partnership |
| 15. Campus Crest at Cheney, LLC | Delaware — Limited Liability Company |
| 16. Campus Crest at Lubbock, LP | Delaware — Limited Partnership |
| 17. Campus Crest at Stephenville, LP | Delaware — Limited Partnership |
| 18. Campus Crest at Troy, LLC | Delaware — Limited Liability Company |
| 19. Campus Crest at Waco, LP | Delaware — Limited Partnership |
| 20. Campus Crest at Murfreesboro, LLC | Delaware — Limited Liability Company |
| 21. Campus Crest at San Marcos, LP | Delaware — Limited Partnership |
| 22. Campus Crest GP, LLC | Delaware — Limited Liability Company |
| 23. The Grove Student Properties, LLC | North Carolina — Limited Liability Company |
| 24. Campus Crest Construction, LLC | North Carolina — Limited Liability Company |
| 25. Campus Crest Development, LLC | North Carolina — Limited Liability Company |
| 26. Campus Crest Lease, LLC | Delaware — Limited Liability Company |
| 27. Campus Crest at San Marcos GP, LLC | Delaware — Limited Liability Company |
| 28. Campus Crest Properties, LLC | North Carolina — Limited Liability Company |
| 29. Campus Crest Ventures III, LLC | Delaware — Limited Liability Company |
| 30. HSRE-Campus Crest I, LLC | Delaware — Limited Liability Company |
| 31. Campus Crest Springing Member, LLC | Delaware — Limited Liability Company |
| 32. Campus Crest Milledgeville Manager, LLC | Delaware — Limited Liability Company |
| 33. Campus Crest at Lawrence, LLC | Delaware — Limited Liability Company |
| 34. Campus Crest at Moscow, LLC | Delaware — Limited Liability Company |
| 35. Campus Crest at Statesboro, LLC | Delaware — Limited Liability Company |
| 36. Campus Crest at Conway, LLC | Delaware — Limited Liability Company |
| 37. Campus Crest at San Angelo, LP | Delaware — Limited Partnership |
| 38. HSRE-Campus Crest GP I, LLC | Delaware — Limited Liability Company |
| 39. The Grove Student Properties, Inc. | Delaware — Corporation |
| 40. Campus Crest Construction, Inc. | Delaware — Corporation |
| 41. Campus Crest Development, Inc. | Delaware — Corporation |
| 42. Campus Crest Asheville Manager, LLC | Delaware — Limited Liability Company |
| 43. Campus Crest Carrollton Manager, LLC | Delaware — Limited Liability Company |
| 44. Campus Crest Las Cruces Manager, LLC | Delaware — Limited Liability Company |
| 45. Campus Crest at Orono, LLC | Delaware — Limited Liability Company |
| 46. Campus Crest at Denton, LP | Delaware — Limited Partnership |
| 47. Campus Crest at Clarksville, LLC | Delaware — Limited Liability Company |
| 48. Campus Crest at Fort Collins, LLC | Delaware — Limited Liability Company |
| 49. Campus Crest at Fort Wayne, LLC | Delaware — Limited Liability Company |
Name | State and Form of Organization |
| 50. Campus Crest at Valdosta, LLC | Delaware — Limited Liability Company |
| 51. Campus Crest at Ames, LLC | Delaware — Limited Liability Company |
| 52. Campus Crest Springing Member II, LLC | Delaware — Limited Liability Company |
| 53. Campus Crest GP II, LLC | Delaware — Limited Liability Company |
| 54. Campus Crest Springing Partner, LLC | Delaware — Limited Liability Company |
| 55. Campus Crest Troy Lessor, LLC | Delaware — Limited Liability Company |
| 56. Campus Crest Cheney Lessor, LLC | Delaware — Limited Liability Company |
| 57. Campus Crest Murfreesboro Lessor, LLC | Delaware — Limited Liability Company |
| 58. Campus Crest Waco Lessor, LLC | Delaware — Limited Liability Company |
| 59. Campus Crest Stephenville Lessor, LLC | Delaware — Limited Liability Company |
| 60. Campus Crest TRS Holdings, Inc. | Delaware — Corporation |
| 61. Campus Crest IV, LLC | Delaware — Limited Liability Company |
| 62. Campus Crest at Denton GP, LLC | Delaware — Limited Liability Company |
| 63. Campus Crest at Columbia, LLC | Delaware — Limited Liability Company |
| 64. Campus Crest at San Angelo II, LP | Delaware — Limited Partnership |
| 65. Campus Crest at San Angelo II GP, LLC | Delaware — Limited Liability Company |
| 66. Campus Crest at Auburn, LLC | Delaware — Limited Liability Company |
| 67. Campus Crest at Flagstaff, LLC | Delaware — Limited Liability Company |
| 68. Campus Crest at Flagstaff II, LLC | Delaware — Limited Liability Company |
| 69. Campus Crest at Huntsville I, LP | Delaware — Limited Partnership |
| 70. Campus Crest at Huntsville II, LP | Delaware — Limited Partnership |
| 71. Campus Crest Springing Member III, LLC | Delaware — Limited Liability Company |
| 72. CCP NEWCO, LLC | Delaware — Limited Liability Company |
| 73. Campus Crest at Huntsville I GP, LLC | Delaware — Limited Liability Company |
| 74. Campus Crest at Huntsville II GP, LLC | Delaware — Limited Liability Company |
| 75. HSRE-Campus Crest V, LLC | Delaware — Limited Liability Company |
| 76. Campus Crest at Fayetteville, LLC | Delaware — Limited Liability Company |
| 77. Campus Crest at Laramie, LLC | Delaware — Limited Liability Company |
| 78. Campus Crest Aviation, LLC | North Carolina — Limited Liability Company |
| 79. HSRE-Campus Crest VI, LLC | Delaware — Limited Liability Company |
| 80. HSRE-Campus Crest IX, LLC | Delaware — Limited Liability Company |
| 81. Campus Crest at Indiana, LLC | Delaware — Limited Liability Company |
| 82. Campus Crest at State College, LLC | Delaware — Limited Liability Company |
| 83. Campus Crest at Norman, LLC | Delaware — Limited Liability Company |
| 84. Chestnut Venture, LLC | Delaware — Limited Liability Company |
| 85. Campus Crest at Ames II, LLC | Delaware — Limited Liability Company |
| 86. Campus Crest at California, LLC | Delaware — Limited Liability Company |
| 87. Campus Crest at Grand Forks, LLC | Delaware — Limited Liability Company |
| 88. Campus Crest at Muncie, LLC | Delaware — Limited Liability Company |
| 89. Campus Crest at Philadelphia, LLC | Delaware — Limited Liability Company |
| 90. Campus Crest at Pullman, LLC | Delaware — Limited Liability Company |
| 91. Campus Crest at Pullman II, LLC | Delaware — Limited Liability Company |
| 92. Campus Crest at Slippery Rock, LLC | Delaware — Limited Liability Company |
| 93. Campus Crest at State College II, LLC | Delaware — Limited Liability Company |
| 94. Campus Crest at Statesboro II, LLC | Delaware — Limited Liability Company |
| 95. CC PA Holdco, LLC | Delaware — Limited Liability Company |
| 96. CC Philadelphia GP, LLC | Delaware — Limited Liability Company |
| 97. CC Philadelphia LP, LLC | Delaware — Limited Liability Company |
| 98. Campus Crest at Nacogdoches II, LP | Delaware — Limited Partnership |
| 99. Campus Crest at San Marcos II, LP | Delaware — Limited Partnership |
| 100. Campus Crest Student Properties Canada ULC | Canada – Corporation |
| 101. CB Campus Crest Services, LLC | Delaware — Limited Liability Company |
| 102. Campus Crest SB Services, LLC | Delaware — Limited Liability Company |
| 103. 7A Travel, LLC | Delaware — Limited Liability Company |
| 104. Campus Crest at Auburn II, LLC | Delaware — Limited Liability Company |
Name | State and Form of Organization |
| 105. Campus Crest at Clarksville Wall, LLC | Delaware — Limited Liability Company |
| 106. Campus Crest at Grand Forks II, LLC | Delaware — Limited Liability Company |
| 107. Campus Crest at Mt. Pleasant, LLC | Delaware — Limited Liability Company |
| 108. Campus Crest at Mt. Pleasant II, LLC | Delaware — Limited Liability Company |
| 109. Campus Crest at Toledo I, LLC | Delaware — Limited Liability Company |
| 110. Campus Crest at Toledo II, LLC | Delaware — Limited Liability Company |
| 111. Campus Crest at Toledo III, LLC | Delaware — Limited Liability Company |
| 112. CB at Ames, LLC | Delaware — Limited Liability Company |
| 113. CB-Campus Crest, LLC | Delaware — Limited Liability Company |
| 114. CB-Campus Crest PA, LLC | Delaware — Limited Liability Company |
| 115. CBTC Collateral, LLC | Delaware — Limited Liability Company |
| 116. CBTC PA Collateral, LLC | Delaware — Limited Liability Company |
| 117. CB Student Properties, LLC | Delaware — Limited Liability Company |
| 118. Copper Beech GP, LLC | Delaware — Limited Liability Company |
| 119. Devcon, LLC | Delaware — Limited Liability Company |
| 120. Campus Crest Canada, LLC | Delaware — Limited Liability Company |
| 121. Campus Crest at Montreal I, LLC | Delaware — Limited Liability Company |
| 122. Copper Beech Townhome Communities (PA), LLC | Delaware — Limited Liability Company |
| 123. Copper Beech Townhome Communities, LLC | Delaware — Limited Liability Company |
| 124. Copper Beech Townhomes, LLC | Pennsylvania—Limited Liability Company |
| 125. Copper Beech Townhomes II, LLC | Pennsylvania—Limited Liability Company |
| 126. Copper Beech Townhome Communities Three, LLC | Pennsylvania—Limited Liability Company |
| 127. Copper Beech Townhome Communities Four, LLC | Pennsylvania—Limited Liability Company |
| 128. Copper Beech Townhome Communities Six, LLC | Delaware—Limited Liability Company |
| 129. Copper Beech Townhome Communities Nineteen, LLC | Pennsylvania—Limited Liability Company |
| 130. Copper Beech Townhome Communities Nine, LLC | Pennsylvania—Limited Liability Company |
| 131. Copper Beech Townhome Communities One, LP | Pennsylvania—Limited Partnership |
| 132. CBTC One LP Management, LLC | Delaware—Limited Liability Company |
| 133. Copper Beech Townhome Communities Seven, LLC | Delaware—Limited Liability Company |
| 134. Copper Beech Townhome Communities Eleven, LLC | Delaware—Limited Liability Company |
| 135. Copper Beech Townhome Communities Twelve, LLC | Delaware—Limited Liability Company |
| 136. Copper Beech Townhome Communities Thirteen, LLC | Delaware—Limited Liability Company |
| 137. Copper Beech Townhome Communities Fourteen, LLC | Pennsylvania—Limited Liability Company |
| 138. Copper Beech Townhome Communities Fifteen, LLC | Delaware—Limited Liability Company |
| 139. Copper Beech Townhome Communities Sixteen, LLC | Delaware—Limited Liability Company |
| 140. Copper Beech Townhome Communities Seventeen, LLC | Delaware—Limited Liability Company |
| 141. Copper Beech Townhome Communities Twenty, LLC | Delaware—Limited Liability Company |
| 142. Copper Beech Townhome Communities Twenty One, LLC | Delaware—Limited Liability Company |
| 143. Copper Beech Townhome Communities Twenty Two, LLC | Delaware—Limited Liability Company |
| 144. Copper Beech Townhome Communities Twenty Four, LLC | Delaware—Limited Liability Company |
| 145. Copper Beech Townhome Communities Twenty Five, LLC | Delaware—Limited Liability Company |
| 146. Copper Beech Townhome Communities Thirty One, LLC | Pennsylvania—Limited Liability Company |
| 147. Copper Beech Townhome Communities Thirty Two, LLC | Delaware—Limited Liability Company |
| 148. Copper Beech Townhome Communities Thirty Three, LLC | Pennsylvania—Limited Liability Company |
| 149. Copper Beech Townhome Communities Thirty Five, LLC | Pennsylvania—Limited Liability Company |
| 150. Copper Beech Townhome Communities Thirty Six, LLC | Pennsylvania—Limited Liability Company |
| 151. Copper Beech Townhome Communities Thirty Eight, LLC | Pennsylvania—Limited Liability Company |
| 152. CB Commercial Allendale, LLC | Pennsylvania—Limited Liability Company |
| 153. Mcwhirter Liberty Square, L.L.C. | Delaware—Limited Liability Company |
| 154. Copper Beech Townhome Communities Eight, LLC | Delaware—Limited Liability Company |
