U.S. Infrastructure & P3 Pipeline

KeyBanc Capital Markets served as Sole Manager on $79.5 million Indiana Finance Authority Tax-Exempt 501(c)(3) Student Housing Revenue Bonds (PRG-UINDY Properties LLC) Series 2025. The Series 2025 Bonds primarily finance the costs of acquiring three apartment-style student housing facilities (the Project) located on land owned by the University of Indianapolis. 

The Project will be owned and operated by PRG-UINDY Properties LLC, an Indiana limited liability company, whose sole member is Provident Resources Group Inc. The three housing facilities are the Greyhound Village apartment complex (480 beds), the University Lofts apartment complex (300 beds), and the College Crossing apartment complex (168 beds). The properties represent the only apartment-style student housing on or near campus. Proceeds will be used to fund required reserves and pay cost of issuance.

KeyBanc Capital Markets served as Sole Lead Arranger and Administrative Agent on the successful close of $84.9 million Senior Secured Credit Facilities in relation to the University of Utah’s (the University) The Annex Student Housing Project (the Project). 

American Campus Communities has partnered with the University of Utah to develop The Annex, a 1,449-bed, on-campus, first-year student housing project. The Annex broke ground in October 2024 and is expected to deliver in July 2026. The Project is a six-story, 349,342-square-foot residence hall located on the University’s main campus in Salt Lake City. The Project consists of predominantly double-occupancy rooms and suites, consistent with the University’s existing on-campus, first-year housing offerings, along with a 17,000-square-foot 2 campus hub on the first floor to serve students with additional study, social, and recreation areas, and dining. The property is subject to a 75-year ground lease with the University.

In August 2024, KeyBanc Capital Markets (KBCM) successfully closed approximately $96 million in Tax-Exempt 501(c)(3) Bonds for Purdue University Fort Wayne. The proceeds will fund the design and construction of a new student housing facility.