Converting a Storage Facility

This school was growing fast and could not find a suitable school-like site.  However, we found a storage facility that could be converted into classrooms.  We tore down storage unit walls and replaced with classroom walls.  At the end of the construction, it was a 2-story building with 20 classrooms and a secure entrance.

Financing Used: a term loan for tenant improvements on a leased property.

A vacant and old school site was for sale.  It was built mostly in the 1950's.  By putting in place a construction and modification bond, funds were made available to make the school bright again for a K-8 program with 800 students.

Financing used: a tax-free bond to acquire the property with funds for the construction to retrofit the site.

 This school had been searching for years for a site in which it could retrofit a warehouse or build a new school.  We found a suitable vacant, 3.1 acre site and are now building a new 30,000 square foot school for a K-8 program with 500 students.

Financing used: 1) a bridge loan to acquire the property; 2) a tax-free bond for the construction of the new school.