School’s out: Portland investors pay $72M for charter school portfolio in Florida
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Clockwise from top left: the Coral Springs – Imagine School, Imagine At South Vero, Plantation – Renaissance Charter School, Championship Academy of Distinction Davie Campus, and Charter School Capital CEO Stuart Ellis
Deal breaks down to $17,935 per enrolled student
Charter School Capital, an academic investment group based in Portland, just scooped up five charter schools spread throughout Florida for $71.74 million. The sellers were MG3 Development Group and ESJ Capital Partners, a pair of local real estate companies.
The deal illustrates how investing in nontraditional real estate like schools can be lucrative, especially when other markets like residential and commercial properties appear to be cooling down.
According to a news release from Colliers International Education Services Group, which brokered the deal on behalf of the sellers, the portfolio encompasses 295,992 square feet split among five schools in Riverview, Vero Beach, Coral Springs, Davie and Plantation. Colliers’ Todd Noel and Achikam Yogev worked on the sale.