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What: Shares of Campus Crest Communities (NYSE:CCG) are trading higher by about 17% today after the company announced merger agreements to sell the company.

So what: The majority of Campus Crest Communities' assets will be sold to Harrison Street Real Estate Capital for $6.90 per share. The company expects that it will also sell its interest in a joint venture (its partial ownership of Holiday Inn Midtown in Montreal) to its joint venture partner, resulting in an additional $0.13 per share for its shareholders. All in all, Campus Crest Communities shareholders will receive $7.03 in cash consideration for each share of Campus Crest.

Now what: The sale of the joint venture is expected to occur before October 30, 2015, while the merger with Harrison Street Real Estate should close during the first quarter of 2016, according to filings with the SEC. The market is currently pricing the company's stock with the expectation that the merger should go off without a hitch. Shares trade at a modest 5% discount to the $7.03 in total cash consideration shareholders should receive when the two transactions are completed.

Insiders are incentivized to get a deal done. A September 25, 2015 amendment to Campus Crest's employment agreement with its President, Aaron Halfacre, provided for up to $1 million in bonuses for selling the company on defined timelines. With incentives like that, this deal should get wrapped up quickly.

Jordan Wathen has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.