Nonprofit P3 For Texas Dorms

On May 29, Balfour Beatty Campus Solutions reached financial close on a $104-million Texas A&M University student accommodation project under a 32-year ground  lease with the state Board of Regents. Assured Guaranty wrapped two-thirds of the debt, which was issued by a tax-exempt conduit as a BBB- credit priced at a low 96-bps spread against Municipal Market Data (MMD).

The largest bond tranche in the series ($35.3 million) has a maturity of 4/1/2046 and yield 4.22%. Balfour Beatty Construction is the design-build partner. O&M is subcontracted to Texas A&M by the nonprofit conduit.


About Bill Reinhardt

Editor of Public Works Financing newsletter
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