Firm Client Provident and its Subsidiaries Close on Multiple Financings for Student Housing Projects at Universities Across the Country

Fishman Haygood client Provident Resources Group, Inc. (Provident) and its subsidiaries recently closed on a series of financings to expand and improve on-campus student housing at the University of Washington, Tufts University, and Palm Beach Atlantic University. Provident is a national nonprofit organization that undertakes projects and partnerships designed to promote education, health, and other charitable purposes. The three deals were all closed within a two-month span, happening in May and June 2025.

First, the firm represented Provident Group – SH II Properties LLC, a Washington limited liability company, as nonprofit borrower in the $519 million financing of 1,592 new beds of student housing for the University of Washington. Kutak Rock LLP served as Underwriter’s Counsel and Pacifica Law as Bond Counsel. This May closing marks Phase II of a multi-phase effort to provide much-needed housing for graduate students, faculty, and staff in a family setting. Read more about the first phase, for which Fishman Haygood also represented Provident.

In June, Fishman Haygood represented PRG Medford Properties, Inc., a Massachusetts nonprofit corporation, as nonprofit borrower under the issuance of $173 million in revenue bonds by the Massachusetts Development Finance Agency to finance the acquisition and construction of undergraduate student housing at Tufts University in Medford, Massachusetts. The project will add 664 beds of multi-story housing to better accommodate the university’s student body and includes a retail component on the ground floor. The project marks the first time that a residence hall for Tufts students will be built through a public-private partnership (P3). Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. (Bond Counsel and University Counsel); Troutman Pepper Locke LLP (Borrower’s Massachusetts Counsel); and Hinckley, Allen & Snyder LLP (Underwriter’s Counsel) also worked on the deal. For more about the project, click here to read coverage in TuftsNow.

Later that month, the firm represented Provident Group – PBAU Properties II LLC, a Florida limited liability company, as nonprofit borrower in the financing of a state-of-the-art mixed-use student housing development at Palm Beach Atlantic University. The $235 million public-private partnership (P3) project, which features 990 apartment style beds across 275 units, a 28,000-square-foot dining hall, and a 14,000-square-foot fitness center, is funded through bonds issued by Palm Beach County and secured by the project’s revenues, ensuring no taxpayer dollars are utilized. Bryant Miller Olive served as Bond Counsel and Kutak Rock LLP as Underwriter’s Counsel on the deal. Click here to read more on StudentHousingBusiness.com.

Fishman Haygood served as legal counsel to Provident Resources Group’s subsidiaries. Attorneys Louis S. Quinn, Jr. and Christen Triche led all three deals, with Marina Speligene assisting on the University of Washington financing.

Our attorneys have experience in real estate development (housing, office, retail, mixed-use, and industrial); real estate finance; affordable housing, student housing, multi-family housing and condominiums; commercial leasing (Landlord and Tenant); business and commercial transactions, partnership syndications, public-private partnerships, and public finance transactions. Click here to learn more about the firm’s Real Estate group.