Firm Client Provident Serves as Borrower in Issuance of Nearly $82M in Tax-Exempt & Taxable Bonds for Lynn University Student Housing

Fishman Haygood, LLP client Provident Resources Group, Inc. (Provident) is serving as borrower in the issuance of $81.6 million in tax-exempt and taxable Revenue Bonds (Series 2024A and Series 2024B) by Palm Beach County to finance the acquisition and construction of undergraduate student housing at Lynn University in Boca Raton, Fla. The on-campus project broke ground at the end of June 2024 and will include three new residence halls with a total of 743 beds. Click here to read more about ongoing campus plans.

The new residence halls will include fully furnished apartment-style and suite-style units for sophomores, juniors, and seniors. The buildings will offer private bedrooms, on-site classrooms, and in-building laundry facilities, and about 30 percent of the new units will have kitchens. The new neighborhood will feature an outdoor plaza, enhanced crosswalks and pedestrian connections, building lounges, expanded parking, and covered bicycle storage. The residence halls will be constructed in phases with occupancy in the Fall 2025 and Fall 2027 semesters.

Provident is a national nonprofit organization that undertakes a broad range of services, activities, and programs designed to promote education, health, and other charitable purposes. Provident recently served as the residential facility owner for on-campus student housing accommodations at William & Mary, a public research university in Williamsburg, Va. Click here to read more about that $240 million development.

Fishman Haygood served as legal counsel to Provident Group, and the firm’s team was led by Louis Quinn, Jr. Bryant Miller Olive also served as local Florida counsel for the borrower.

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.