on-campus housing opportunity...opportunity (the “project”) at the university of massachusetts...
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O N - C A M P U S H O U S I N G O P P O R T U N I T Y
A M H E R S T , M A S S A C H U S E T T S
EXECUTIVESUMMARY.
O N - C A M P U S H O U S I N G O P P O R T U N I T Y
A M H E R S T , M A S S A C H U S E T T S
Newmark Knight Frank (“NKF”) has been exclusively retained by the University of Massachusetts Building Authority (“UMBA”) to issue a Request for Proposals for an on-campus housing development opportunity (the “Project”) at the University of Massachusetts Am-herst (“UMass Amherst” or “University”) in Amherst, Massachusetts. UMass Amherst has identified two sites for the execution of the Project, which is anticipated to accommodate a growing need for on-campus undergraduate, graduate and family student housing via the development of approximately 1,200 beds.
The Project will be on land owned by the Commonwealth of Mas-sachusetts, in the care and custody of the Board of Trustees of the University. The University intends to enter into a ground lease with UMBA for the land that will be the Project site. UMBA will subse-quently enter into a sub-lease with the successful Developer (the “Ground Lease”).
UMass Amherst is seeking a development that will achieve the following general goals and objectives:
1 Minimal impact on UMass Amherst’s, UMBA’s and the University’s balance sheet and credit rating;
2 Strong “partnership” with a Devel-oper in multiple aspects of property management, operations, residential life and development of a model live-learn community;
3 Long-term Project viability with equitable economics based on afford-ability of rental rates and anticipated revenues, expenses, capital costs, reserves, debt and/or equity return requirements, and risk, among other factors; and
4 Provide a project that is an asset to both the campus and the Amherst community.
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ON-CAMPUS DEVELOPMENT OPPORTUNITY
UMass Amherst is seeking to create approximately 1,200 residential beds in order to accommodate its growing need for on-campus housing
VIBRANT CAMPUS ENVIRONMENT
Comprising 13.5 million gross square feet of space across 1,400 acres, UMa-ss Amherst’s sprawling campus enrolls 30,600 undergraduate and graduate students (on-campus and online) in 12 schools and colleges across a variety of disciplines and features 21 Division I sports programs
FLEXIBLE DEAL STRUCTURE
As the first-ever opportunity for de-velopers to pursue a housing partner-ship on the UMass Amherst campus, multiple deal structures are possible and multiple development sites for the project are available
HOUSING DEMAND
As a result of growing enrollment, UMass Amherst has identified a need to increase its on-campus undergradu-ate housing capacity as well as replace aging graduate family and graduate student housing
FLAGSHIP CAMPUS
UMass Amherst is the Commonwealth of Massachusetts’ flagship campus and a nationally-ranked public re-search university that offers a full range of undergraduate, graduate and professional degrees
RESEARCH POWERHOUSE
UMass Amherst’s research ex-penditures in fiscal 2018 totaled $211.1 million. Among Massa-chusetts colleges and univer-sities, UMass Amherst ranks fourth in research grants from the National Science Founda-tion, behind only MIT, Harvard, and Boston University.
Opportunity Highlights
THECAMPUS.
BE REVOLUTIONARY
MASS AVE UNDERGRAD/GRAD SITE
NORTH VILLAGEFAMILY HOUSINGSITE
31.73ACRES
10.48ACRES
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NATIONALLY-RANKED PUBLIC RESEARCH UNIVERSITY
UMass Amherst distinguishes itself as a vibrant public research university dedicated to engaged learning and innovative research resulting in personal and lifelong student success. The University serves as an intellectual catalyst for economic, social and cultural transformation on a global, national and regional scale. It is a glob-ally recognized premier research university committed to inclusion, access, advancement of knowledge, student success and community enrichment.
UMass Amherst is located in the scenic Pioneer Valley of Western Massachusetts, 90 miles from Boston and 175 miles from New York City. The campus therefore provides a rich cultural environment in a rural setting close to major urban centers. Comprising more than 13.5 million gross square feet of space on approximately 1,400 acres of land, UMass Amherst is the largest, and the flagship, campus in the University of Massachusetts system.
THECAMPUS.
BY THE NUMBERS2019-2020ACADEMIC YEAROverview
BE REVOLUTIONARY
30,600Undergrad & Grad Students
On-campus & Online $1.9 BILLIONDirect & Indirect Impact
to the MA Economy
$200+ MILLIONResearch & Development
Expenditures
6,300Faculty, Staff &
Student Employees
1,400Acres
Campus Size
#24Best Colleges -
Public Universities
13.5 MSFExisting
Building Footprint
#1MA University for:
-Educating the most MA high school grads-Awarding the most
undergraduate STEM degrees
Top EmployersUMass Amherst Alumni
21Division I
Sports Programs
215,200Athletic Event
Attendees
475Conferences Held
on Campus
81,600Conferences Attendees
AA Aa2 AA-
University of Massachusetts Bond Ratings
35%Growth in Undergraduate Applications, 2010-2018
64%Acceptance Rate out of a record 42k applications
3.90/4.0Avg. GPA of Entering
Students
1292/1600Avg. SAT Score of Entering Students
O N - C A M P U S H O U S I N G O P P O R T U N IT Y |5 6
O N - C A M P U S H O U S I N G O P P O R T U N I T Y
A M H E R S T , M A S S A C H U S E T T S
THOMAS D. GREELEYManaging Director
(617) 863-8621
MICHAEL T. BYRNEExecutive Managing Director
(617) 863-8616
DEVLIN C. MANDirector
(617) 863-8634
MORGAN E. LALIBERTECreative Director
(617) 863-8632
CASEY M. GRIFFINAssociate
(617) 863-8622
DAVID DOUVADJIAN, SR.Executive Managing Director
(617) 863-8388
For Debt Information:
ROBERT E. GRIFFIN, JR.U.S. Head of Capital Markets
(617) 863 8611
EXCLUSIVELY OFFERED BY
MICHAEL R. GREELEYSenior Managing Director
(617) 863-8618
BLAKE E. MCLAUGHLIN Associate
(617) 863-8543
FRANK J. NELSONExecutive Managing Director
(617) 863-8617