he $50 million construction will be financed through a recent bond sale that generated in excess of $1 billion in interest, according to the Atlanta-based developer for the project, The University Financing Foundation (TUFF). Terms of the funding agreement also include a beneficial refinancing of existing debt and a long-term ground lease and master lease. TUFF has extensive experience in building science parks throughout the United States and assisting universities in financing and expanding their infrastructure.
“The Innovation and Research Park will help the university grow its impressive research capabilities, including its new company formation and medical entrepreneurship,” said TUFF President Kevin Byrne. “It will enhance collaboration between academic scientists and industry innovators and that’s a proven approach to speeding the translation of discoveries into life-saving treatments.”