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Putting the Deal Together for Anchor Institutions Understanding their Roles and Constraints   Presented by   Joan J. Millane, Principal   Millane Partners, L.L.C.   19 West Barre Street, Suite 400, Baltimore, Maryland  21201-2465  Direct:  (410) 294-7037  Office:  (410) 727-2866  Fax:  (410) 727-1664 jmillane@millanepartners.com  www.millanepartners.com   Anchor Institutions Conference Breakout 2a October 9, 2007  ●  Penn Institute for Urban Research Millane Partners     Real Estate Results
[object Object],[object Object],[object Object],[object Object],[object Object],Objectives
Today’s Institutional Needs: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Institutions Partnering with Private Sector (PPP) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Why Now? ,[object Object],[object Object],[object Object]
Should we do a Public Private Partnership? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Public-Private Partnership Student Housing  Off-Balance Sheet Transaction (Project Financed) Institution Development Team GC Builds  Apartment Building Conduit Bond Issuer Lender/Bond Investor Ground Lease 501 (c) 3 Foundation (Tax exempt) Ground Lease Title Debt Management Agreement Development Agreement GC  Agreement Lease trustee $ $ / loan docs Underwriter Students Credit Enhancer and Bond Insurers $ Draws $ $ Prop. Mgr. $
Mixed Use- Housing/Retail/Office/Parking     Public/Private Transaction  (Project Financed)   Institution Developer Team (Leasing/ Prop. Mgmt) Mixed Use Project Lender Ground Lease Developer LLC (Taxable) GL Buildings Debt Equity Development Agreement Leasing & Management Agreement GC  Agreement Lease loan docs Employees, Students,, Admin, Private Rent Title Tenant $$$ Construction Draws customers Purchases Equity Investor Guarantees,  LOC,  Insurance
Off Balance Sheet and  Use of Institution’s Debt Capacity* ,[object Object],[object Object],[object Object],[object Object]
What Does the Developer Get from Public Private Partnerships? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
How Much Can We Build? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Mixed-use Housing/Retail/Classroom Rendering of Charles Commons, Johns Hopkins University (Image: Johns Hopkins University)
What They All Have In Common: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The Players ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Transaction Documents (Almost Everything is Negotiable) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Developer of Public Private Partnership   ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Mixed-Use Office/Retail Dartmouth College mixed-use building in Hanover, N.H.  (Image: Dartmouth College)
Institution’s Issues ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Tips for working inside  your Institution ,[object Object],[object Object],[object Object],[object Object],[object Object]
What a Developer can bring to the Institution in terms of Resources and Expertise ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
University of Maryland Town Center PPP ,[object Object]
Lessons Learned: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],[object Object],Millane Partners     Real Estate Results

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Putting the Deal Together for Anchor Institutions: Understanding their Roles and Constraints

  • 1. Putting the Deal Together for Anchor Institutions Understanding their Roles and Constraints Presented by Joan J. Millane, Principal Millane Partners, L.L.C. 19 West Barre Street, Suite 400, Baltimore, Maryland 21201-2465 Direct: (410) 294-7037 Office: (410) 727-2866 Fax: (410) 727-1664 jmillane@millanepartners.com www.millanepartners.com Anchor Institutions Conference Breakout 2a October 9, 2007 ● Penn Institute for Urban Research Millane Partners Real Estate Results
  • 2.
  • 3.
  • 4.
  • 5.
  • 6.
  • 7. Public-Private Partnership Student Housing Off-Balance Sheet Transaction (Project Financed) Institution Development Team GC Builds Apartment Building Conduit Bond Issuer Lender/Bond Investor Ground Lease 501 (c) 3 Foundation (Tax exempt) Ground Lease Title Debt Management Agreement Development Agreement GC Agreement Lease trustee $ $ / loan docs Underwriter Students Credit Enhancer and Bond Insurers $ Draws $ $ Prop. Mgr. $
  • 8. Mixed Use- Housing/Retail/Office/Parking Public/Private Transaction (Project Financed) Institution Developer Team (Leasing/ Prop. Mgmt) Mixed Use Project Lender Ground Lease Developer LLC (Taxable) GL Buildings Debt Equity Development Agreement Leasing & Management Agreement GC Agreement Lease loan docs Employees, Students,, Admin, Private Rent Title Tenant $$$ Construction Draws customers Purchases Equity Investor Guarantees, LOC, Insurance
  • 9.
  • 10.
  • 11.
  • 12. Mixed-use Housing/Retail/Classroom Rendering of Charles Commons, Johns Hopkins University (Image: Johns Hopkins University)
  • 13.
  • 14.
  • 15.
  • 16.
  • 17. Mixed-Use Office/Retail Dartmouth College mixed-use building in Hanover, N.H. (Image: Dartmouth College)
  • 18.
  • 19.
  • 20.
  • 21.
  • 22.
  • 23.

Editor's Notes

  1. Anchor Institutions Conference 10/9/07: Putting the Deal Together