Summary:
- Pioneer Realty Capital completed its first institutional bond refinancing, securing $19.58 million in taxable bonds for 625 at Prairie View, a student housing community near Prairie View A&M University, enabling long-term financial stability and supporting a Phase II expansion adding over 700 beds.
- The transaction highlights PRC’s ability to execute complex, institutionally-backed financing in the higher education real estate sector, involving key partners including Morgan Stanley as lead underwriter and Norton Rose Fulbright and Orrick as legal counsel.
- PRC overcame regulatory and procedural challenges through coordinated efforts among its leadership and partners, reinforcing investor confidence and advancing housing solutions for historically underserved student communities.
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