Turner-Agassi Charter School Facilities Fund And Mater Academy Of Nevada Celebrate Opening Of New Urban Campus In East Las Vegas

Nevada Gov. Brian Sandoval joins celebration for social impact investment fund's latest investment

Dec 07, 2015, 14:30 ET from Turner Impact Capital

LAS VEGAS, Dec. 7, 2015 /PRNewswire/ -- Governor Brian Sandoval, Clark County Commissioner Chris Giunchigliani, Andre Agassi, Bobby Turner and other leaders of the Turner-Agassi Charter School Facilities Fund gathered today with Principal Renee Fairless, teachers, staff and students to celebrate Mater Academy of Nevada's brand new campus in East Last Vegas.

Serving 775 students in kindergarten through eighth grade in a ground-up development at 3445 Mountain Vista in East Las Vegas, Mater Academy of Nevada held classes in a rented church facility before breaking ground on a permanent campus in 2015. The school's new learning center welcomes a global student body rich in diversity, with enrollment expected to grow to 960 students by the 2016-2017 school year. As a Title I charter school, Mater Academy is committed to serving children from low-income families and ensuring that they have access to the resources they need to succeed.

Launched in August 2014, Mater Academy of Nevada is dedicated to providing an innovative, challenging, multicultural education, preparing students to be college and career ready. The school is managed by Academica Nevada, a professional education management organization with a network of four charter schools with 12 campuses in Las Vegas, serving over 7,400 students in the area. The school's 55,000-square-foot facility was developed by Turner-Agassi, a mission-driven investment fund designed to accelerate the growth of high-performing charter schools throughout the United States.

"Each child deserves the opportunity to obtain a quality education," said Clark County Commissioner Chris Giunchigliani. "I can already tell that Mater Academy is a vibrant learning community that will help its students reach their full potential and lift this entire community for years and years to come."

"We are thrilled to open another school in Las Vegas, particularly in a community with great need," said Bobby Turner, Turner-Agassi Co-Managing Partner and CEO of Turner Impact Capital. "Mater Academy, with the help of Academica Nevada, truly possesses the spirit of excellence we look for when partnering with charter schools. We are honored to play a role in providing a new facility to enable them to expand the community's access to quality educational opportunities." 

A joint venture of Turner Impact Capital and Agassi Ventures, Turner-Agassi has developed 50 schools since 2011, currently serving approximately 22,800 students in disadvantaged communities such as North Philadelphia, Newark, the Bronx, Southwest Detroit, South Dallas, and North Las Vegas. Fourteen additional schools will open in the 2015-2016 academic years, bringing the total number of schools delivered to 64 serving nearly 34,000 students.

Last summer, Turner-Agassi launched its second fund, with plans to invest up to $1 billion in additional funding to build another 130 schools nationwide by 2020. Investors in the successor fund, known as Turner-Agassi II, include the University of Michigan, the Texas General Land Office, Citi Community Capital, and a diverse group institutional investors and family foundations.

Securing high-quality, long-term facilities is often the greatest impediment faced by charter schools. Turner-Agassi provides resources, development experience, and a passion for educational excellence to help top school operators focus on their first priority: helping students succeed.

"Las Vegas is my hometown, and I am delighted to facilitate the opening of another excellent educational institution in this city," said Andre Agassi, Turner-Agassi Co-Managing Partner and CEO of Agassi Ventures. "This school is an investment in the East Las Vegas community, and it will transform these students' lives. I look forward to seeing Mater Academy's students continue on to college and make their positive mark on the world."  

Mater Academy of Nevada's new facility includes a gymnasium and a multipurpose room on 5 acres. Parents, students, faculty, and staff are all excited about the additional enrichment opportunities made possible by the school's new permanent home.

"At Mater Academy, we believe students thrive in a technologically rich environment focused on skills for communication, collaboration, critical thinking, and creativity," said Principal Renee Fairless. "We work with our families and school community collaboratively to develop successful scholars with the necessary skills to be competitive in our global society. We are grateful to have a beautiful new building to focus on teaching our kids the way they learn best."

Turner-Agassi serves school operators by providing expertise in site selection, acquisition, design, and construction. School facilities are leased at affordable rates to school operators, who can then purchase the sites once they reach full occupancy. The fund also helps operators obtain permanent financing using New Market Tax Credits, tax-exempt bond offerings, or funding from the U.S. Treasury's Community Development Financial Institutions Fund.

"As a sustainable and market-driven investment fund, Turner-Agassi is uniquely positioned to provide charter school operators with the long-term facilities they need to serve students on a national scale," said Glenn Pierce, President of Education Initiatives at Turner Impact Capital. "As high-achieving school operators continue to expand, the demand for our work will only increase – and that's great news for education."

About the Turner-Agassi Charter School Facilities Fund
The Turner-Agassi Charter School Facilities Fund is a market-driven real estate investment fund designed to accelerate the growth of high-performing charter schools. The original Fund and its successor will develop close to 200 schools by 2020 in high-need areas throughout the United States. Turner-Agassi is a partnership between Turner Impact Capital, LLC and Agassi Ventures, LLC. For more information, please visit www.turneragassi.com.

About Mater Academy of Nevada
Mater Academy of Nevada is dedicated to providing an innovative, challenging, and multicultural education, preparing students to be college and career ready. Students learn skills of communication, collaboration, critical thinking, and creativity. Mater Academy of Nevada works collaboratively with the school community to encourage active involvement in students' education, with a goal is to cultivate a thirst for knowledge in each student, and prepare them to be global citizens with a competitive edge in the 21st-century workforce. Mater Academy of Nevada currently serves 775 students and is managed by Academica Nevada, an education management organization. For more information, please visit www.materacademynv.org

 

SOURCE Turner Impact Capital



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