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Preston Hollow Community Capital has closed a $300-million tax-exempt bond financing for Howard University’s Towers, Drew, Cook, Quad and Axis dormitories.

Howard University, Preston Hollow Community Capital Close $300M Dorm Financing

Preston Hollow Community Capital has closed a $300-million tax-exempt bond financing that will consolidate financing of the Howard University’s Towers, Drew, Cook, Quad and Axis dormitories into one unified transaction.

Loop Capital Markets, LLC served as sole underwriter for the bonds.

“This financial solution aligns with Preston Hollow Community Capital’s and Howard University’s mutual commitment to providing high-quality educational opportunities by enhancing the affordable on-campus learning experience for current and prospective students,” said Ramiro Albarran, co-head of originations at Preston Hollow Community Capital.

Preston Hollow Community Capital and Howard University worked together in 2017 to a public-private partnership solution to address critical housing needs for its student body, faculty, and staff. The first transaction comprised $33 million in tax-exempt bonds to fund the construction of the Axis dormitory.

Preston Hollow Community Capital provides specialized impact finance solutions for projects of significant social and economic importance to local communities. The company invests in bespoke municipal finance transactions with a diversified investment portfolio.


Inside The Story

Preston Hollow Community Capital’s Albarran

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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