Imagine Schools Arizona and Nevada Portfolio

CALL FOR OFFERS: Wed. July 17, 2024

Offering Memorandums

The Offering

Key Facts

  • Type Portfolio of three high-performing charter schools
  • Addresses 6738 W McDowell Rd, Phoenix, AZ; 12050 N Bullard Ave, Surprise, AZ; 6610 Grand Montecito Pkwy, Las Vegas, NV
  • Total Building Area ±128,925 SF
  • Total Land Area ±13.85 acres

Portfolio Overview

Call For Offers: Wed. July 17, 2024


Colliers is pleased to exclusively offer for sale to qualified investors a portfolio of three high-performing charter schools strategically located in Arizona and Nevada that are subject to long-term, absolute NNN lease structures. The campuses operate as Imagine Schools and consist of ±128,925 square feet located on ±13.85 acres. The leases are with Schoolhouse Finance, one of the nation’s most prominent operators, offering an investor with an institutional-quality investment of reliable cash flow. Schoolhouse Finance and the Imagine Schools charter management organization provide the necessary checks and balances to maintain appropriate oversight, secure the cash flow, and assure optimal performance throughout the investment.

These campuses have long operational histories, having been open for between 14 and 18 years. Overall, the Portfolio provides a weighted average lease term (“WALT”) of 6.7 years, with individual lease terms that range from 4.0 to 8.0 years. Each campus is strategically located, and within highly desirable growth markets of Phoenix and Las Vegas.

Portfolio Highlights

Imagine School and Schoolhouse Finance are premier charter school operators, assuring optimal performance by each school and a secure cash flow

Two of the schools were purpose-built for grades K-5, and the Las Vegas school was fully renovated to accommodate a K-6 campus

The campuses are surrounded by new family-oriented residential communities, in the high growth areas of metro Phoenix and Las Vegas

High barriers to entry for other traditional or charter public schools near these campuses

Annual rental growth averages 2.7% during the next 10 years
Absolute NNN leases with numerous reporting requirements that require no landlord obligations and constant oversight of the tenants’ performance

These well-established campuses have been operational for 14, 17 and 18 years

WALT of 6.7 years; leases expire in 4, 7, and 8 years with renewal options of 5 and 10 years

Offered free and clear of any debt, with flexible financing options available

The properties are being offered for sale as a portfolio or individual investments

Brochure

Imagine Schools AZ & NV Portfolio_Brochure

Download

Videos

Team

Todd Noel, CCIM
Vice Chair
National Director – Education Advisory Group
D: +1 602 222 5190
M: +1 602 692 8290
Mindy Korth
Executive Vice President
D: +1 602 222 5005
M: +1 602 531 5538
Kyle Campbell
Senior Vice President
Director – Education Advisory Group
D: +1 602 222 5062
M: +1 480 650 3326
Adam Malan
Vice Chairman
D: +1 702 727 3778
M: +1 702 449 1180
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