The Regents of the University of California approved the commercial terms of a P3 agreement for the UC Merced 2020 project on Nov. 19 at the Regents meeting held in San Francisco, contingent on a not-to-exceed limit on financial proposals.
The Regents’ approval authorizes the university to move forward with the Request for Proposals (RFP) phase of the Project with the three proposing teams that were shortlisted in January. The equity members for these teams are:
• E3 2020: Balfour Beatty Investments, Inc., Star America E3 2020, LLC.
• EP2 Developers: Plenary Group (Canada) Ltd.
• Merced Campus Collaborative: Lend Lease (US) Investments, Inc., Macquarie Capital Group Ltd., and ACC OP Development LLC.