Square Footage : 66,500

In the summer of 2019, Performance finalized a 25-year NNN lease agreement with The School of Science and Technology to establish a state-of-the-art 66,500 square foot facility in Houston, Texas, aimed at enhancing the educational experience for students in grades K-8. This new campus, which can accommodate 750 students, is part of a larger initiative to support over 5,000 students statewide, ensuring access to high-quality education.

Construction was completed in July 2020, providing an innovative learning environment tailored to the needs of both students and educators. In August 2020, the school acquired the property using tax-exempt bond proceeds underwritten by Truist, as part of a $176 million bond issuance closed in December 2019. Supported by the Texas Permanent School Fund, this bond allowed for a favorable tax-exempt bond coupon rate below 2.75%, reflecting the school’s strong investment grade rating.

Through Performance’s expertise in offering comprehensive development services and creative financing solutions, The School of Science and Technology was able to expedite its expansion, overcoming typical bond market
limitations. This collaboration ensured that the school could promptly respond to increasing demand and provide outstanding educational opportunities to the community, underscoring our commitment to creating sustainable value for students, families, and the wider community.