Arent Fox Expands Award-Winning Project Financing Program For Nonprofits And Public Institutions
New "Mission-Ready Capital Improvement" offering brings together architects, engineers, construction firms and financial advisors in addition to the Arent Fox legal team; successful projects for top university and teaching hospital earn Arent Fox spot among recent law firm innovation winners by Financial Times
NEW YORK, Feb. 4, 2013 /PRNewswire/ -- In an effort to set a new standard for "smarter and faster" project financing options for non-profit institutions that will accelerate overall project delivery, Arent Fox LLP has launched an award-winning Mission-Ready Capital ImprovementSolution for its clients. Initially targeting public and private non-profit universities, hospitals/healthcare systems, and other large 501(c)(3) organizations, the offering is designed to fast-track the financing, design, and construction of major social infrastructure projects at a time when non-profits face severe budget constraints amidst a mounting need for expansion and capital improvements. Co-led by James Frankel, chair of the firm's national Construction Group, and Richard Krainin, head of the firm's Nonprofit Finance Practice in New York, the Mission-Ready offering brings together a team of attorneys from the firm's Finance, Real Estate, Construction and Tax practices, to help public and non-profit clients undertake capital-intensive projects. The project has succeeded by introducing key clients from the financial, architectural, engineering, and construction industries to facilitate this Mission-Ready capital improvement solution. "Our program is designed to help public and nonprofit institutions advance their big-ticket pipeline projects most effectively, at the lowest cost and with the shortest timetable," Mr. Frankel said. Mr. Krainin added, "We are providing a coherent, unified solution and team for critical project creation. Our integrated approach is mission-ready to address capital needs of non-profits across sectors." Under development for the past year, the team has already undertaken several successful projects, including advising a leading west coast academic medical center on expanding its hospital capacity in strategic, targeted areas. Working with an architectural firm represented by Arent Fox, a financial advisor and an investment bank, Arent Fox helped the medical center evaluate ownership, development and financing approaches for building a new free-leaning hospital facility to accomplish the center's goals. The team's analysis was shared with the rating agencies before being presented to the medical center.