Holley & Pearson-Farrer LLP served as co-bond counsel to the Dormitory Authority of the State of New York (DASNY) in connection with the issuance of $55.6 million in tax-exempt revenue bonds.

This conduit issue provided financing for the acquisition and renovation of an administrative office space for Touro College, a private Jewish university system headquartered in New York City, and the implementation of an energy- and utility-efficient laboratory for New York Medical College (NYMC), a private medical school in Valhalla, New York.

The bonds were sold in a direct placement with a purchaser, to be held by the purchaser for an initial fixed-rate 10-year period and then be subject to either a tender or conversion to another interest rate mode. The bonds were secured pursuant to loan agreements between DASNY, Touro College, and NYMC.

H|PF Role
  • Financed office and laboratory projects at Touro College and New York Medical College
  • Direct placement with 10-year fixed rate initial period
$55.6 million
Dormitory Authority of the State of New York
  • Touro College, New York, New York
  • New York Medical College, Valhalla, New York
Closing Date
July 2020
View/Search More Projects