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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Preston Hollow Capital Completes Financing for Avenir Community Development District

December 20, 2021 GMT

DALLAS--(BUSINESS WIRE)--Dec 20, 2021--

Preston Hollow Capital, an independent specialty municipal finance company, announced the successful closing of a $95 million financing to fund infrastructure improvements at Avenir, a 2,400-acre master-planned, mixed-use community located in Palm Beach Gardens, Florida. At build-out, Avenir is planned to contain approximately 3,900 homes and around 2 million square feet of commercial space.

Proceeds from the financing will be used to construct the critical infrastructure needed as part of the Avenir development, including public roadways, storm drainage, open space and recreation areas, and environmental conservation efforts. “Preston Hollow is proud to continue our partnership with Avenir and further this unique mixed-use project,” remarked Preston Hollow Managing Director Ramiro Albarran. “This financing aligns with Preston Hollow’s mission of funding critical infrastructure needs for growing communities across the country. We are particularly excited about the direction of this project and its continued pledge towards environmental conservation of precious wetland areas.”

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“Preston Hollow is a key player in the success of the Avenir community. We value having a financial partner with a robust understanding of the development process, and with the flexibility needed to address infrastructure demands strategically and productively. The Preston Hollow team is second to none in their ability to respond efficiently and creatively to the demands of our business.” – Manuel M. Mato, President of Avenir Development, LLC

About Preston Hollow Capital

Preston Hollow Capital provides specialized impact financing solutions for projects of significant social and economic importance to local communities in the United States. As a team, we bring a decades-long track record of helping communities achieve their financial, sustainability and community impact goals. We do so through a unique partnership model, rigorous and disciplined credit underwriting and creative investment structuring built around delivering speed, certainty, and flexibility to our borrowers.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211220005917/en/

CONTACT: Greg May, Preston Hollow Capital

214.389.0835

gmay@phcllc.com

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KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY PROFESSIONAL SERVICES FINANCE

SOURCE: Preston Hollow Capital

Copyright Business Wire 2021.

PUB: 12/20/2021 04:53 PM/DISC: 12/20/2021 04:53 PM

http://www.businesswire.com/news/home/20211220005917/en