DALLAS, December 19, 2018 – Dallas-based Preston Hollow Capital (PHC), an independent specialty
municipal finance company, announced today the closing of a $33.175 million financing transaction for
the renovation and development of the Howard Center in Washington, DC. The project consists of 176
dormitory/residential units, associated amenities and improvements designed to benefit Howard
University students, faculty, staff and associates. Located on the third through ninth floors of the
building, the project is expected to be completed and available for occupancy in August 2019.
The Howard Center is situated on Howard University’s core campus, in an area that has experienced
significant growth over the past ten years. The increased demand has created challenges for pricesensitive students, faculty and staff in locating affordable housing options. With this financing, Howard
University will enhance its housing portfolio and create more affordable opportunities for University
constituents to live closer to campus.
“Preston Hollow Capital is proud to partner with Howard University, one of the most highly regarded
Historically Black Colleges and Universities in the nation, on this important housing transaction,” said
Matt Levin, an Executive Director and Senior Banker at Preston Hollow Capital. “PHC is excited to support
Howard’s commitment to bring more affordable housing to its students and faculty.”
“Our firm welcomed the opportunity to work with such an esteemed and historic institution as Howard
University,” added Jim Thompson, Preston Hollow Capital’s Chairman and CEO. “PHC has established
itself as a leading financing resource in higher education. Our transformational capital solutions allow
institutions like Howard to expand the pursuit of their academic missions.”
About Preston Hollow Capital
Preston Hollow Capital (www.phcllc.com) is the leading solution provider in municipal finance.
Headquartered in Dallas, Preston Hollow Capital is an independent municipal finance company with over
$1.3 billion in permanent equity capital and over $2.6 billion in investment capacity from a diverse
investor base comprised of founding management, institutional investors including funds managed by
Stone Point Capital LLC and HarbourVest Partners, and several prominent family offices. Since being
founded by Chairman & CEO Jim Thompson in 2014, Preston Hollow Capital has closed nearly $2 billion
in transactions across a variety of sectors of the municipal bond market including real estate, senior
living, K-12 and higher education, healthcare, infrastructure, general government and economic
development. Preston Hollow Capital differentiates itself with its ability to deliver capital with speed,
certainty and flexibility.
For information, contact:
Max Pickle, Preston Hollow Capital