Over the past decade, Nexus Properties has expanded the scope of our development work to include Public Private Partnerships (3P or PPP). PPPs connect cash-strapped public entities with well-funded investors who can assume the majority of the financial, development and operational responsibilities, as well as the risks for projects designed to benefit public entities such as universities, hospitals and municipalities.
At Nexus Properties, we believe PPP projects provide updated and expanded facilities to meet the growing needs of these public institutions throughout the Tri-State region, allowing them to utilize their revenue to achieve their core mission. These projects can be a win-win for all participants by reallocating their limited resources to programs rather than ‘sticks and bricks.’
Nexus Properties is uniquely qualified to handle the complexities of PPP projects. We can provide beginning-to-end service, including municipal review and approval for new projects, as well as PPP consultation, planning, design, financing, construction and property management. The ownership structures of each project differ based on the institution’s individual goals and objectives.
As a knowledgeable partner in navigating today’s economic and regulatory realities, Nexus Properties has the experience to guide complex projects through to fruition. As a privately-held company, we have the available capital, financing and business flexibility necessary to undertake ambitious PPP developments. Our long-established relationships with regional state and municipal authorities provide a strong foundation in planning, design and approval of PPP projects for governments, educational institutions, transit agencies, medical facilities and other public entities with projects ranging from parking structures, dormitories, office, retail and mixed-use projects.
Nexus Properties’ participation in the expansive Glassboro Main Street/Rowan Boulevard redevelopment project is the most recent example of our PPP expertise. The $425-million dollar project is the largest municipal redevelopment project underway in New Jersey. We are completing a 60,000-square-foot multi-use building for Rowan’s College of Graduate and Continuing Education (CGCE). The site includes classrooms, ground-floor retail space and an adjacent, 1,200-space parking garage. Nexus Properties will initially own and operate the classroom and garage facilities, and will lease them to the University. However, under the terms of the PPP development, ownership of the classrooms will revert to Rowan, while Nexus Properties will continue to own and manage the parking garage.
The Nexus Properties PPP portfolio also includes facilities developments for NJ Transit and a range of NJ medical facilities.
If your institution needs to expand, but lacks funding resources, learn how PPP investment guided by an experienced and relationship-focused partner can help.
Talk to us about how PPPs can benefit your institution. Contact Nexus