Kutak Rock served as Bond Counsel in connection with the issuance of The Health, Educational and Housing Facility Board of the County of Shelby, Tennessee Student Housing Revenue Bonds (Madrone Memphis Student Housing I, LLC – University of Memphis Project), Series 2024A-1 in the aggregate principal amount of $70,870,000 and The Health, Educational and Housing Facility Board of the County of Shelby, Tennessee Student Housing Revenue Bonds (Madrone Memphis Student Housing I, LLC – University of Memphis Project), Federally Taxable Series 2024A-2 in the aggregate principal amount of $2,150,000. 

Proceeds of the Bonds are being used to finance the costs of (i) construction and equipping of new student housing facilities in a 4-story building with approximately 542 beds in 242 rental units, together with all improvements, fixtures, furnishings, equipment and amenities necessary for the operation thereof, to be located on the Park Avenue Campus of the University of Memphis in Memphis, Tennessee, (ii) acquisition of a leasehold interest in the land on which the Student Housing Facilities will be located, (iii) construction of a parking lot with approximately 289 parking spaces adjacent to the Student Housing Facilities, and (iv) amounts required for reserves, working capital, capitalized interest, costs of issuance and other financing expenses related to the issuance of the Bonds. 

Fred Marienthal and Tom Lauth worked on this financing.