Kutak Rock served as counsel to the underwriter of the $26,640,000 Maryland Economic Development Corporation Revenue Bonds (PRG – Towson Place Properties L.L.C. Project) Series 2024A-1 (Senior), $750,000 Maryland Economic Development Corporation Revenue Bonds (PRG – Towson Place Properties L.L.C. Project) Series 2024A-2 (Senior-Taxable) and Maryland Economic Development Corporation Revenue Bonds (PRG – Towson Place Properties L.L.C. Project) Series 2024B-1 (Subordinate).

The Series 2024 Bonds refinanced debt relating to the Towson Place Apartments located at 7700-7736 Greenview Terrace in Towson, Baltimore County, Maryland. The Facility consists of (a) a 220-unit, student housing facility, contained in 33 brick buildings, comprised of (i) 22 studio apartment units; (ii) 11 one‑bedroom (one bed per room), one-bathroom units in suite style configuration; (iii) 171 two-bedroom (one bed per room), one-bathroom apartment style units in suite style configuration; and (iv) 16 three-bedroom (one bed per room), one-bathroom units in apartment style configuration aggregating 184,225 square feet and approximately 160,196 rentable square feet.  The Facility was constructed in 1962, and in 2008 the Facility was completely renovated.

Fred Marienthal, Jennifer Barrett, and Bradley Scoble worked on this transaction.