CEO of The P3 Group Inc., overseeing the development of public facilities and urban redevelopment through public-private partnerships.
Public-Private Partnerships (P3’s) offer HBCUs a unique opportunity to execute substantial student housing renovations and new construction projects without incurring debt or taking a detrimental financial risk. The devil, however, is always in the details. Many privatized student housing developers ask for occupancy guarantees along with other financial considerations that expose colleges and universities to financial risk. A well-structured P3 that is financed in the capital markets can receive an investment-grade credit rating and not require the college or university to make any occupancy guarantees or take on any risk. This type of financial model would be hard to accomplish anywhere other than in the capital markets with an experienced development and finance team. This model also requires a non-profit ownership group and a national conduit issuer to be part of the transaction structure.
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