Fishman Haygood Client Provident Resources Group Completes Refinancing of Howard University Dormitories
January 24, 2023
Provident Resources Group (PRG) recently completed the nearly $300 million refinancing of Howard University’s Axis, Cook, Drew, Quad, and Towers student housing, consisting of over 1.1 million square feet of dormitories and improved space. PRG is a national nonprofit organization that undertakes a broad range of services, activities, and programs designed to promote health, education, and other charitable purposes.
This is not the first engagement in which the firm has represented PRG. In 2022, Quinn represented the nonprofit developer in the acquisition, financing, development, construction, management, and operation of an upscale full-service hotel located adjacent to the new United States Air Force Academy Visitor Center in Colorado Springs, Colo. Hotel revenue bonds amounted to approximately $230 million. Construction has begun with an open date of 2024.
Quinn also represented PRG in the financing of a hotel project for the benefit of Radford University in Radford, Va. Construction on the upscale boutique hotel, the Highlander, broke ground in 2021 and is expected to be completed this month.
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.