ESJ Capital Snags Charter School Portfolio for $45M
- Aug 09, 2018
ESJ Capital Partners has expanded its charter school portfolio with the acquisition of four new educational facilities for a total of $45 million. EPR Properties sold the assets, which are situated in Arizona, Ohio and Washington, D.C.
The portfolio encompasses 176,000 square feet and serves 3,000 K-8 students. All properties are operated by Imagine Schools.
According to Matthew Fuller, ESJ’s chief investment officer, the company has acquired its first Imagine campus in 2009. Since then, the firm purchased 28 charter school facilities, valued at more than $650 million. The four new properties have been successfully operating for more than 13 years, having high enrollment rates.
“We assessed the value proposition of the educational arena over a decade ago and recognized its potential. The growth of charter schools is well-documented, as families look to broaden educational options for their children,” Arnaud Sitbon, president & CEO of ESJ Capital Partners told Commercial Property Executive. “We are continuously exploring new opportunities in this arena and look to proactively broaden our portfolio.”
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