PORTLAND, Ore., April 21, 2020 /PRNewswire/ -- Charter School Capital, the largest national services provider exclusively focused on charter schools and the students they serve, announced today that it has acquired two charter school facilities. These include Mana Academy in West Valley City, Utah, for $3.17 million, and Imagine Schools at Mountain View in Las Vegas for $5.8 million. Under the terms of the deal, Charter School Capital will assume the existing leases for both properties, which serve a combined total of more than 1,000 students.
"We are delighted to support Mana Academy and Imagine Schools at Mountain View with long-term school facilities that will continue to serve their school communities," said Stuart Ellis, president and CEO of Charter School Capital. "Our hope is that our new partnerships with these schools will help ensure their continued success for many years to come."
Founded in 2013, Mana Academy serves students from the region's diverse ethnic and cultural backgrounds, with an emphasis on the local Pacific Islander community. Situated on three acres at 2355 South Technology Drive in West Valley City, the school operates in two facilities, one serving grades K-6 and one serving grades 7-11. Charter School Capital acquired the 17,723 square foot primary school facility from American Charter Development, which was originally built in 2000 as an industrial building then redeveloped in 2013 for Mana Academy.
"It is a privilege to share a long-term commitment with Charter School Capital to assure the continued growth and stability of Mana Academy," said Mike Morley, CEO of American Charter Development. "We share Charter School Capital's dedication to developing lasting relationships with such steadfast charter school operators, and to providing environments primed for optimal learning."
Founded in 2011, Imagine Schools at Mountain View serves students in grades K-6, and has a significant focus on special education students served through an in-house Intervention Education Program. The school facility, recently acquired by Charter School Capital, is located at 6610 Grand Montecito Parkway in Las Vegas and comprises 36,161 square feet on 3.86 acres. The property was originally built in 2004 for a private school and later occupied in 2010 by Imagine Schools at Mountain View.
"It's incredibly rewarding to witness how both Mana Academy and Imagine Schools at Mountain View independently challenge their unique student populations to achieve their full potential," added Ellis. "It's humbling to play a part in supporting these schools and their students on their education journeys."
These acquisitions bring to more than 700 the total number of charter schools supported by Charter School Capital. With customizable facilities financing options from Charter School Capital, school leaders retain control of their buildings and are afforded the flexibility to make the modifications necessary to expand their enrollment and academic programs.
According to the National Alliance for Public Charter Schools, access to adequate facilities is one of the biggest challenges charter schools face today. With many charter schools operating in suboptimal buildings, the lack of facilities is a serious obstacle to growth.
About Charter School Capital:
Launched in 2006, Charter School Capital helps charter schools access, leverage and sustain the resources they need to thrive, allowing them to focus on what matters most - educating their students. Charter School Capital has provided more than $2 billion in funding to 700+ charter schools, providing high-quality education to more than 1.25 million students across the United States. For more information, visit CharterSchoolCapital.org or email [email protected].
SOURCE Charter School Capital