Gray Pannell & Woodward | Savannah State University
16007
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Savannah State University

Category
Transactions
About This Project

In February of 2008, our firm served as bond counsel for Savannah State University on the issuance of $26,245,000 in Revenue Refunding and Improvement Bonds (SSU Foundation Real Estate Ventures, LLC University Village Project), Series 2008A and the $22,975,000 Revenue Bonds (SSU Foundation Real Estate Ventures, LLC Indigo Pointe Project), Series 2008B. The proceeds from the sale of the University Village Bonds were used to finance the acquisition of a 660 bed student housing facility located on the campus of Savannah State University, to advance refund outstanding bonds, and to fund a portion of the costs to construct and equip a dining/recreational facility. The proceeds from the sale of the Indigo Pointe Bonds were used to finance the acquisition, renovation, and equipping of an existing apartment complex and converting the same into a 742-bed student housing facility located adjacent to the campus of Savannah State University.