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Preston Hollow Capital Closes $33 Million Howard University Housing Deal

December 19, 2018

DALLAS--(BUSINESS WIRE)--Dec 19, 2018--Dallas-based Preston Hollow Capital (PHC), an independent specialty municipal finance company, announced today the closing of a $33.175 million financing transaction for the renovation and development of the Howard Center in Washington, DC. The project consists of 176 dormitory/residential units, associated amenities and improvements designed to benefit Howard University students, faculty, staff and associates. Located on the third through ninth floors of the building, the project is expected to be completed and available for occupancy in August 2019.

The Howard Center is situated on Howard University’s core campus, in an area that has experienced significant growth over the past ten years. The increased demand has created challenges for price-sensitive students, faculty and staff in locating affordable housing options. With this financing, Howard University will enhance its housing portfolio and create more affordable opportunities for University constituents to live closer to campus.

“Preston Hollow Capital is proud to partner with Howard University, one of the most highly regarded Historically Black Colleges and Universities in the nation, on this important housing transaction,” said Matt Levin, an Executive Director and Senior Banker at Preston Hollow Capital. “PHC is excited to support Howard’s commitment to bring more affordable housing to its students and faculty.”

“Our firm welcomed the opportunity to work with such an esteemed and historic institution as Howard University,” added Jim Thompson, Preston Hollow Capital’s Chairman and CEO. “PHC has established itself as a leading financing resource in higher education. Our transformational capital solutions allow institutions like Howard to expand the pursuit of their academic missions.”

About Preston Hollow Capital

Preston Hollow Capital ( www.phcllc.com ) is the leading solution provider in municipal finance. Headquartered in Dallas, Preston Hollow Capital is an independent municipal finance company with over $1.3 billion in permanent equity capital and over $2.6 billion in investment capacity from a diverse investor base comprised of founding management, institutional investors including funds managed by Stone Point Capital LLC and HarbourVest Partners, and several prominent family offices. Since being founded by Chairman & CEO Jim Thompson in 2014, Preston Hollow Capital has closed nearly $2 billion in transactions across a variety of sectors of the municipal bond market including real estate, senior living, K-12 and higher education, healthcare, infrastructure, general government and economic development. Preston Hollow Capital differentiates itself with its ability to deliver capital with speed, certainty and flexibility.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181219005107/en/

CONTACT: Max Pickle, Preston Hollow Capital

214.389.0813 mpickle@phcllc.com

KEYWORD: UNITED STATES NORTH AMERICA DISTRICT OF COLUMBIA TEXAS

INDUSTRY KEYWORD: EDUCATION UNIVERSITY REIT CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Preston Hollow Capital

Copyright Business Wire 2018.

PUB: 12/19/2018 09:00 AM/DISC: 12/19/2018 09:01 AM

http://www.businesswire.com/news/home/20181219005107/en

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