CalPFA has provided $5.5 million of tax-exempt educational revenue bonds to Epiphany Holdings, LLC for the purpose of financing charter school facilities in San Diego and Escondido, California. Epiphany Holdings, LLC is a California nonprofit public benefit corporation that operates two K-8 public charter schools known as Epiphany Prep School (“Epiphany”). Epiphany is committed to transforming inner-city education to prepare students for college, career and life.
Epiphany plans to acquire a new school facility in San Diego and fund improvements to their campus located in Escondido. The financing will allow Epiphany to expand and improve their campuses and grow enrollment to 1,600 students by 2021.
CalPFA partnered withKutak Rock, BB&T Capital Markets and Hamlin Capital Advisors to provide financing to the educational facilities. This is Epiphany Holdings, LLC's first financing with the CalPFA.