Bostonia closed the $20M financing of an energy services performance contract (ESPC) that will provide Dyess AFB with various energy conservation measures focused on energy conservation and resilience. Dyess AFB is a 6,409-acre base with over 13,000 military and civilian people. It is home to the 7th Bomb Wing, which consists of four groups. Two squadrons, the 9th and 28th Bomb Squadrons, fly the B-1B. In addition, the 28th Bomb Squadron is the Air Force schoolhouse for all B-1B aircrew members.
Bostonia closed 2 phases of the project totaling $45M project will provide MCAS Cherry Point with a modern, standardized, hardened, reliable, resilient and cybersecure electrical distribution system, water/wastewater and building metering/control systems. These systems will provide real-time information to a central command center positioning the Station to continuously monitor energy/water systems and quickly identify, diagnose, and repair systems issues as issues arise during on-going day to day operations as well as during critical events.
Bostonia arranged $9.6M in 20-year permanent, financing for a 60+ bed transitional housing facility located in Brooklyn, NY. The 20,000 SF building is owned by a non-profit corporation that has been in existence since the late 1980’s. The non-profit corporation entered into a 20-year contract with the City of New York to provide and administer temporary emergency housing and housing support for families determined to be eligible for shelter.
The City of New York’s Department of Homeless Services provides shelter for more than 10,000 men and women on any given night, expanding and contracting based on capacity needs. As an agency comprised of 2,000 employees, with an annual operating budget of approximately $1 billion, DHS is one of the largest organizations of its kind committed to preventing and addressing homelessness in New York City.
Bostonia funded $262 million for an energy savings performance contract (ESPC) at the Oklahoma City Air Logistics Complex at Tinker Air Force Base. This was one of the largest and most ambitious ESPC projects undertaken for the U.S. Government to date. The project which was delivered on-time and on-budget by Honeywell Building Solutions included implementation of energy and water conservation measures at 50 buildings comprising 10 million square feet at Tinker AFB. The conservation improvements include upgrades to the boiler plant, chiller plant, HVAC and lighting systems, building envelope, and water and sewer systems. Energy and water resilience and conservation outcomes include 60 million kWh saved annually or the equivalent energy needed to power approximately 8,300 homes for one year and 15 million gallons of water saved annually.
Bostonia arranged $15M in permanent financing for 2 facilities leased to the General Services Administration. One property is a specialized facility tenanted by the Drug Enforcement Agency in the southeastern United States. The facility includes office space, interior parking areas and vehicle bays, interview rooms and holding cells.
The other property is a specialized facility for the United States Forest Service (USFS) in the western United States. The facility is comprised of office space and specialized warehouse space to assist in upholding the USFS’s mission to sustain the health, diversity, and productivity of the nation’s forest and grasslands to meet the needs of present and future generations.
Bostonia closed the $38M financing of a utility energy services contract that will provide Fort Bragg with various energy conservation measures focused on energy resilience and security in Special Forces, Critical, GRF and Mission Assurance facilities. All ECMs reduce the probability of equipment failures and allow Post personnel to focus on more mission-critical items.
Bostonia arranged $74M in construction-to-permanent financing for three Veterans Affairs (VA) community-based outpatient clinics in Ocala, Florida, Orangeburg, South Carolina and Terre Haute, Indiana. The three VA clinics total approximately 125,000 square feet and are each subject to a long-term lease with the federal government.
The three VA clinics will replace outdated facilities and consolidate many smaller clinics into a single larger facility at each of the locations. The expanded primary care offerings at each clinic will include services for physical therapy, prosthetics, optometry, audiology, cardiology, mental health, and substance abuse. The facilities will also include space for telemedicine clinics and properly sized rooms for patient care and laboratory clinics.
Bostonia closed the $11M financing of an energy savings performance contract to undertake energy savings improvements for NSA Hampton Roads at three sites: Hampton Roads, Lafayette, and Northwest Annex. Naval Support Activity Hampton Roads is a United States Navy Echelon 4 regional support commander that is responsible to Navy Region Mid-Atlantic for the operation and maintenance of the installation
Bostonia closed a $170 million in construction-to-permanent financing to fund the development of a 514,000 SF trophy office building for the U.S. Government in the National Capital Region. The office building is the fifth phase of development on an office campus that is planned to include a total 2.6 million square feet of office space for the U.S. Government.
Bostonia structured the transaction as a Credit Tenant Lease financing and issued notes to institutional investors in the private placement market. The structuring of the transaction accounted for 46 months of design and construction, annual lease termination rights, and other specialized terms that are unique to Federal government leases.
“We are proud to contribute to the development of a project that will play such an important role in our country’s national security,” said Anita P. Molino, Managing Partner and President of Bostonia Partners. “The successful execution of this transaction demonstrates that there is strong investor appetite for quality transactions, even during the economic and market uncertainty caused by the Covid-19 pandemic.”