Advantage Academy of Pinellas acquires property through $17.89 million municipal bond
ESJ Capital Partners, LLC, a full service asset management firm based in Miami, announces the successful transfer of ownership of Pinellas Academy of Math and Science (PAMS), located at 1775 S Highland Ave, Clearwater, FL.
ESJ initially purchased the 56,000 square foot facility in 2012, retrofitting the property to meet the school’s growth, and subsequently selling the facility to the school via tax-exempt revenue bonds.
ESJ facilitated the transaction through its asset investment structure, after initially providing the charter holder (Advantage Academy of Pinellas, Inc.) with custom classrooms and a long-term lease.
In a $17,890,000 municipal bond transaction closed by BB&T Capital Markets, Advantage Academy of Pinellas, Inc., (the charter holder for PAMS), will be financed through the newly closed bond transaction, considered investment grade by Moody’s Rating Services.
“This transaction exemplifies the opportunities charter schools have in becoming established assets with sources of financing,” said Arnaud Sitbon, President & CEO of ESJ Capital Partners. “We look forward to continuing our investment momentum in charter schools nationwide in order to stabilize schools financially and academically and qualify for attractive bond financing.”
One of ESJ Capital Partners’ investment strategies is supporting the facility needs of private and charter institutions throughout the United States. Currently, the firm has 27 charter and privately-owned schools within its portfolio with a value exceeding $350 million.
PAMS is a Science, Technology, Engineering, Arts and Math (S.T.E.A.M.) focused school. The facilities include 56,060 square feet of classroom, laboratory, athletic and administrative space with an enrollment capacity of 910 students in grades K-8.
The school serves students in elementary and middle school students through challenging, reform-based instructional methods.
For more information about ESJ Capital Partners’ innovative approach to supporting education infrastructure, visit http://www.esj.us.
About ESJ Capital Partners, LLC
ESJ Capital Partners, LLC (“ESJ”) is a full-service investment management firm with a diversified national portfolio of more than 3,600,000 square feet comprised of education facilities, apartments, and hospitality/entertainment destinations. ESJ is an SEC registered investor advisor focused on opportunistic real estate and private equity investments, as well as providing securities brokerage services. For additional information, visit www.esj.us.
