In December, G&B client and nonprofit organization, Mirabella at ASU, Inc., a joint venture between the ASU Foundation and Oregon-based Pacific Retirement Services finalized tax-exempt bond financing for the construction of Mirabella at ASU. Mirabella at ASU is an innovative 20-story “Life Plan Continuing Care Retirement Community” located on the Arizona State University Tempe campus. The $250 million in bonds, which also constituted the largest bond offering in the country in December, were issued by The Industrial Development Authority of the City of Tempe. The G&B team handling the transaction, which was the culmination of 2 years of effort, was led by Firm Members Jeff Miller, Kevin Merritt and Manjula Vaz. Construction of the project will begin in early 2018.
“Arizona State University has been recognized as the most innovative national university in the country and is now at the forefront of our nation’s fast-changing retirement landscape. Mirabella at ASU will engage older alumni and retired faculty, staff, and friends by providing lifelong learning, a continuum of healthcare services, and an environment rich in performing arts, social, athletic, and research activities.”
– Pacific Retirement Services, Inc.
See more details about the Mirabella project from PRS here.