Public/Private Partnerships

On November 30, 2023, KeyBanc Capital Markets (KBCM) successfully closed $86.26 million in Tax-Exempt Parking System Revenue Bonds, Series 2023 (the Bonds) for UAkronPark Inc., a special-purpose entity formed by the Development Finance Authority of Summit County (the Authority) with Diogenes Capital serving as the Asset Manager. The Bonds are being issued to provide funds (i) for acquiring, constructing, furnishing, equipping, maintaining, and improving real and personal property, or any combination thereof, comprising the Parking System; (ii) to finance additional costs to improve the Project and the Parking System; (iii) to fund the Debt Service Reserve Fund for the Series 2023 Bonds, (iv) to fund capitalized interest on the Series 2023 Bonds, and (v) to fund the costs of issuing the Series 2023 Bonds. KBCM served as Sole Manager on the transaction.

On June 22, 2023, KeyBanc Capital Markets (KBCM) successfully closed on a $90.05 million Senior Secured Revolving Credit Facility in relation to the Eastern Michigan University (the University) utility concession. The funds will be used for capital expenditures and energy conservation measure projects for the utility system at the university. KBCM served as Joint Lead Arranger, Joint Bookrunner, and Administrative Agent on the transaction.

On February 28, 2023, KeyBanc Capital Markets (KBCM) successfully closed $114.29 million of Senior Secured Credit Facilities in relation to the University of California, Berkeley's (the University) Albany Village Student Housing Project. The funds will be used as construction financing to develop the 761-bed student housing project at the university. KBCM served as Coordinating Lead Arranger on the transaction.

On November 17, 2022, KeyBanc Capital Markets (KBCM) successfully closed $3 billion of Senior Secured Credit Facilities in relation to the John F. Kennedy Airport Terminal 6 Redevelopment. On March 24, 2018, the Terminal 6 Consortium of Vantage Airport Group, RXR Realty LLC, JetBlue Airways and American Triple I Partners was designated by the Port Authority of New York & New Jersey as the preferred developer to redevelop the new terminal. Terminal 6 is a $4.2 billion construction project for a period of 30-year lease agreement. KBCM served as Coordinating Lead Arranger and Swap Provider on the transaction.

On August 9, 2022, KeyBanc Capital Markets (KBCM) successfully closed $2 billion of Senior Secured Credit Facilities in relation to a Student Housing Portfolio Acquisition. In early 2022, Blackstone Real Estate announced an acquisition of American Campus Communities (ACC), a publicly traded REIT. ACC holds a portfolio of over 27,000 beds on university campuses and $3.7B of equity value across 18 universities and spread over 34 distinct assets. KBCM served as Coordinating Lead Arranger on the transaction.

The Project was named North America Social Infrastructure Deal of the Year by Proximo, for 2022.

On July 7, 2022, KeyBanc Capital Markets (KBCM) successfully closed $200.2 million of Senior Secured Credit Facilities (Credit Facilities) for Axium Infrastructure’s development of the University of Massachusetts Amherst (UMass Amherst) Student Housing Expansion. Proceeds from the Credit Facilities are being used to design, build, finance, operate, and maintain the student housing facilities which consist of 623 beds of undergraduate apartment style housing and related infrastructure, and 201 beds of graduate student apartment style housing and related infrastructure. KBCM served as Joint Lead Arranger and Swap Provider on the transaction.

On July 7, 2022, KeyBanc Capital Markets (KBCM) successfully closed $4.9 billion of Senior Secured Credit Facilities in relation to the John F. Kennedy Airport New Terminal One Development and Expansion. On October 4, 2018, the New Terminal One Consortium of Ferrovial, The Carlyle Group, JLC Infrastructure, and Ullico was designated by the Port Authority of New York & New Jersey as the preferred developer to redevelop the 100% international passenger terminal, The New Terminal One, pursuant to a 30-year lease, on the area historically occupied by Terminals 1, 2 and 3. This is an $8.3 billion construction project. KBCM served as Senior Managing Agent on the transaction.

On October 7, 2021, KeyBanc Capital Markets (KBCM) successfully closed $68.67 million in Tax-Exempt Parking System Revenue Bonds, Series 2021 (the Bonds) for ParkUToledo, an SPE formed by the Toledo-Lucas County Port Authority. The Bonds are being issued for the purpose of providing funds (i) for acquiring, constructing, furnishing, equipping, maintaining and improving real and personal property, or any combination thereof, comprising the Parking System; (ii) to finance additional costs to improve the Project and the Parking System; (iii) to fund the Debt Service Reserve Fund for the Series 2021 Bonds; (iv) to fund capitalized interest on the Series 2021 Bonds; and (v) to fund the costs of issuing the Series 2021 Bonds. KBCM served as Sole Manager on the transaction.