Albany College of Pharmacy and Health Sciences

Overview

Deal Type Debt Capital Markets
Size $9.3 Million
Revenue Bonds
Client & Transactional Partners Albany College of Pharmacy and Health Sciences
City of Albany Capital Resource Corporation
Our Role Sole Manager

Summary

On November 1, 2022, KBCM served as Sole Manager for $6.5 million of Tax-Exempt Revenue Bonds, Series 2022A (the “2022A Bonds”) and $2.8 million Taxable Revenue Bonds (the “2022B Bonds” and together with the 2022A Bonds, the “2022 Bonds”), for the City of Albany Capital Resource Corporation on behalf of the Albany College of Pharmacy and Health Sciences (the “College”). The 2022 Bonds were issued to (a) refund the City of Albany Industrial Development Agency’s (i) Civic Facility Revenue Bonds (CHF-Holland Suites, LLC Project), Series 2007A (the “2007A Bonds") and (ii) Civic Facility Revenue Bonds (CHF-Holland Suites II, LLC Project), Series 2008A (the “2008A Bonds” and together with the 2007A Bonds, the “Prior Bonds”), (b) finance costs to refund the Prior Bonds, and (c) pay costs of issuance. The Prior Bonds financed the leases and improvements to two student housing facilities (301 beds) and parking areas on the College’s campus by CHF-Holland Suites LLC and CHF-Holland Suites II LLC.

Founded in 1881, the College is a private, independent institution with a long tradition of academic and research excellence. The College’s mission is to educate the next generation of leaders to improve the health of our society. To date, the College has graduated more than 16,414 students in the increasingly complex profession of pharmacy and related fields.

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