Borrower: Personalized Learning, Inc., dba Redmond Proficiency Academy, is a charter school located in Redmond, Oregon which opened its doors in 2009. Its mission is based on the concept of providing proficiency-based learning in a personalized environment to grades 6 through 12.
Amount of Loan: $8,005,000
Closed: November 17, 2016
Underwriter: Piper Jaffray & Co.
Description of Loan: This Project was undertaken for the purpose of (i) financing the acquisition and renovation of the Glacier Building, which was under lease by the school, (ii) acquiring and expanding the Printing Post Facility, also under lease by the school, and (iii) certain tenant improvements at the McClay Building, also under lease by the school. The Project is expected for completion by September 1, 2019. This bond was structured as a limited offering.
Type of Loan: Traditional Bond – Limited Offering