Good Friday, indeed.<\/p>\n
In early April, IPS Enterprises, Inc. closed an acquisition loan to fund its first foray into the Buckeye State.\u00a0 Slated to open in fall 2022, the campus will be located at the former Cincinnati Christian University (CCU) site on Glenway Avenue, will be leased to IDEA Greater Cincinnati and will mark IDEA’s latest expansion effort.\u00a0 The roughly $15 million acquisition funding used senior debt from Central Bank & Trust (CB&T) of Lexington, KY, which had been the lender to CCU.\u00a0 Our good friends at BlueHub Capital and their partners at LISC provided sub debt, and IPS and Accelerate Great Schools contributed a total of $750K in cash to the deal.<\/p>\n
The total costs associated with the acquisition and subsequent renovation of the CCU campus are expected to come in about $26 million, which is expected to be funded with a construction loan from both CB&T and Blue Hub\/LISC to close later this summer.\u00a0 Please stay tuned.<\/p>\n
Buck Financial Advisors served as financial advisor to IPS.\u00a0 Hunton Andrews Kurth served as borrower’s counsel.\u00a0 Krokidas and Bluestein LLP served as lead counsel to BlueHub and LISC.\u00a0 The best-in-the-business real estate team of PMSI as construction manager and InSite as real estate broker & demographics served in those capacities.\u00a0 Frost Brown Todd LLC served as counsel to CB&T.<\/p>\n
Congratulations to IPS and the future students and families of IDEA Greater Cincinnati.<\/p>\n","protected":false},"excerpt":{"rendered":"
Good Friday, indeed. In early April, IPS Enterprises, Inc. closed an acquisition loan to fund its first foray into the Buckeye State.\u00a0 Slated to open in fall 2022, the campus will be located at the former Cincinnati Christian University (CCU) site on Glenway Avenue, will be leased to IDEA Greater Cincinnati and will mark IDEA’s… read more<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-428","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.buckfinancial.net\/blog\/wp-json\/wp\/v2\/posts\/428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buckfinancial.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buckfinancial.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buckfinancial.net\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buckfinancial.net\/blog\/wp-json\/wp\/v2\/comments?post=428"}],"version-history":[{"count":1,"href":"https:\/\/www.buckfinancial.net\/blog\/wp-json\/wp\/v2\/posts\/428\/revisions"}],"predecessor-version":[{"id":429,"href":"https:\/\/www.buckfinancial.net\/blog\/wp-json\/wp\/v2\/posts\/428\/revisions\/429"}],"wp:attachment":[{"href":"https:\/\/www.buckfinancial.net\/blog\/wp-json\/wp\/v2\/media?parent=428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buckfinancial.net\/blog\/wp-json\/wp\/v2\/categories?post=428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buckfinancial.net\/blog\/wp-json\/wp\/v2\/tags?post=428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}