...to assist at risk private, non-profit higher education institutions (HEI’s) in managing their underperforming academic facilities.
by creating a investment and operational vehicle that:
- raises capital
- identifies underperforming Higher Educational Institution (HEI) facilities, negotiates and acquires selected facilities
- converts these to alternative uses
- manages converted facilities
To accomplish this a HEI acquisition target profile must be developed
Due to incomplete information on HEIs financial status, expert resources (such as Merritt Research Services ) must be identified and contracted with. This information will be used to define what desirable facilities are, identify HEI’s with desirable facilities, and to initiate board level contact with these institutions.
Then, technical support related to tax exempt debt redemption and HEI facility acquisition must be added.
This requires the identification of legal experts with significant experience in the redemption of tax exempt debt and expertise in structuring investment and operational vehicles that acquire facilities .
This presents significant opportunities for organizations interested pushing the envelope of industry innovation.
Realizing this opportunity requires
- the ability to move promptly
- extensive experience in value-added real estate investments, new development, and property leasing and management,
- tax exempt financing expertise
- a thorough understanding of higher education trends
A Case Study: Episcopal Seminaries
In 2003, there were 11 masters and doctorate granting Episcopal seminaries. By 2015, overall enrollment declined by almost 40% and the student gender and age composition has shifted from young males, who were full-time, residential students to women over the age of 40 who are increasingly online students