Sample Public/Private Sector Transaction Experience

Representative Institutional Client List

Princeton Theological Seminary

University of California, Riverside

Washington State University

University of Nevada, Las Vegas

University of Utah

Sample Public/Private Sector Transaction Experience

Ground Lease of a site to a developer who will build a mixed-use development, including retail space to be leased to private tenants, an apartment complex with the land owner-institution receiving first priority rental rights and an office building to be leased by the institution pursuant to a lease-purchase agreement. Consideration for the ground lease consists of a parking garage constructed by the developer, at its expense, plus pre-paid cash rent.

Acquisition Services (financial analysis necessary to formulate an offer, negotiation with the seller, preparation of letter of intent, and participation in due diligence) to assist the institution in the purchase of a single family residential subdivision under construction. The units, which originally were to be sold to the public, will be acquired for subsequent re-sale as faculty housing project of the client.

Ground Lease of a surplus site owned by the institution to a developer for income-producing purposes and lease of some of the developer constructed improvements to a third party research entity with a programmatic relationship with the institution. Appraisal-related services to client institution, which needed to identify range of land values and priority of surplus land offerings for public-private sector development.

Ground lease of a site to developer with leaseback of portion of space for use by institution’s medical center. Institution receives minimum base rent vs. % of gross revenue (whichever is greater), participation in refinancing proceeds, first right of refusal on sale of improvements and options to purchase.

Build-to-suit acquisition of a medical office building from developer; fixed price payable upon completion of project.

Pre-completion acquisition apartment building for student housing that was already under construction by developer; fixed purchase price; closing occurred upon completion at a value that reflected the pre-stabilized value of the project given the fact that the institution would assume all leasing risk upon close. Second example is acquisition of a residential subdivision under construction and purchased in multiple phases for subsequent sale as faculty housing project.

Ground lease of a site to a developer for construction of an R&D; facility to be leased to a federal governmental research unit with programmatic relationships with the institution; minimum rent vs. % of gross based on public institution realizing 2/3 of the economic benefits since the institution was primarily instrumental in securing the lease to the federal government.

Ground lease of site to developer for spec office building; institution leases the building for administrative use and re-structured the transaction as a purchase.

Ground lease to developer for student housing complex per institution’s specs; no land rent in exchange for institution including completed project in its inventory of sponsored housing; first right to lease the units at pre-determined rents; developer assumes leasing risk.

Ground lease to a developer for private market apartments and office use with consideration in form of seperate apartment units, constructed at the developer’s expense, for use by institution’s students.

Pre-paid Ground Lease on market terms to developer for development of market priced condominiums; purchasers included institution’s faculty.

Pre-paid ground lease of institution’s investment property for development of high rise office building. This transaction involved a high value asset and, a complex ground lease incorporating transfer of development rights.