Bostonia attended the ribbon cutting ceremony for the new Kaiser Permanente Administrative facility in New Carrollton, Maryland on April 4, 2019. The new facility is a 200,000 SF build to suit office building with a 600 space parking garage. In attendance were representatives from Kaiser Permanente, officials from Prince George’s County, team members from Urban Atlantic, members of the investment community, and many others who made the project possible.
Bostonia provided $64 million in construction-to-permanent financing, which was structured and executed as a Credit Tenant Lease within a Public-Private Partnership that includes a 98-year ground lease with Washington Metropolitan Area Transit Authority and a capital stack with public and private sources of funds, totaling approximately $95 million.
The Project is the first phase of a $1 billion mixed-use, transit-oriented development in New Carrollton, Maryland. Future phases will total 2.7 million SF of office, residential, retail, and hospitality space. The Project is a Public-Private Partnership that is being developed by Urban Atlantic in partnership with Washington Metropolitan Area Transit Authority and Prince George’s County.
Bostonia closed the $28M financing of an Energy Savings Performance Contract benefitting the U.S. Air Force at Eglin Air Force Base in Florida. The energy conservation measures being implemented through this project at Eglin AFB will increase resiliency at mission critical locations, improve energy efficiency, increase reliability, and upgrade the functionality of the existing energy management control system.
On Tuesday, January 15, 2019 Managing Partner Peter Flynn led a panel discussion on “Harnessing Value from Grid Edge Technologies” at EUCI’s Digital Grid Innovation Conference. The panel focused on the financing of hardware, software and business innovations that are increasingly enabling smart, connected infrastructure to be installed at or near the “edge” of the electric power grid – including distributed energy resources (DER) and behind the meter applications.
Bostonia closed the $20M financing of an Energy Savings Performance Contract benefiting the U.S. Army at Fort Benning in Georgia. The project includes energy conservation measures such as building controls, lighting and building envelope. These measures will help the Army minimize energy consumption and costs, reduce energy intensity, and improve energy resilience by reducing demand and improving facility monitoring and control.
Bostonia closed a follow-on financing of an energy center at the Mercedes-Benz Vans (MBV) facility in Ladson, SC. The latest transaction follows the original financing which closed March 2017. The MBV facility manufactures and assembles Sprinter Vans for the US and Canadian markets.
Managing Director Josh Evans joined a panel discussion on the state of the capital markets at the National Federal Development Associations Annual Meeting on November 28, 2018. Mr. Evans highlighted trends related to the financing of federally-leased facilities.
Managing Partner Peter Flynn joined a panel discussion on the commercial considerations in federal resiliency P3’s at the P3 Federal Conference on November 27, 2018. Mr. Flynn highlighted the benefits that can be monetized to offset the cost of implementation, while also addressing the challenges associated with financing federal P3s.
President Anita Molino led a panel discussion at the ULI Fall meeting’s Public Development and Infrastructure Council. Mrs. Molino moderated the panel of public and private sector participants as they reviewed major projects in the Boston area. Also at the Fall meeting, Managing Director Josh Evans presented a case study on the financing and development of a mission-critical Coast Guard facility to the Small Scale Development Council.