Fishman Haygood Client Provident Resources Group Closes on 1,282 Beds of New Student Housing for the University of Mississippi

Fishman Haygood client Provident Resources Group, Inc. (Provident) subsidiary PRG – Oxford Properties LLC is serving as borrower in the issuance of $114,250,000 in mixed tax-exempt and taxable bonds to finance 1,282 beds of new student housing at the University of Mississippi, part of a larger initiative to address the urgent housing needs of the rapidly growing university.

The new student housing will be constructed on the former site of Kincannon Hall, along with a  new parking garage that is currently under construction. The project is being developed through a public-private partnership (P3) between the University of Mississippi and Greystar, a national leader in student housing development.

Overall, the partnership will add approximately 2,700 student beds across two residence halls, both expected to open by 2027. An additional 1,500 beds will be developed along West Row, along with a new dining facility and 1,500-space parking garage. For more about the project, click here to read the announcement from Ole Miss.

As one of the first public-private partnerships of its kind in the state, the project is expected to serve as a model for other universities seeking affordable, high-quality development solutions.

Provident is a national non-profit organization committed to making a positive impact in communities across the country through the development, ownership, and operation of state-of-the-art educational, healthcare, senior living, and multi-family housing facilities and services.

Fishman Haygood served as legal counsel to Provident and its subsidiary (PRG – Oxford Properties LLC). Attorneys Louis Quinn, Jr. and Marina Speligene led the transaction. Butler Snow LLP served as Bond Counsel and Jones Walker LLP as Underwriter’s Counsel.

Our attorneys have extensive 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.