That Giant Sucking Sound
Is the sound of public tax dollars financing the new hot thing in commercial real estate speculation. Kansas City Business Journal [h/t Schools Matter]
Entertainment Properties Trust has increased its investment in public charter schools by $48 million, the company said Friday.
The company (NYSE: EPR) purchased five new charter schools from Imagine Schools Inc. of Arlington, Va., at a cost of $44 million and agreed to finance expansion of two others at a cost of $4 million…
“We are excited to add to our public charter school portfolio and enthusiastic about the prospects of Imagine and this investment category,” Entertainment Properties Trust CEO David Brain said in a release.
In an interview, Brain said the Imagine Schools transaction announced Friday fulfilled Entertainment Properties’ 2007 commitment to make at least $200 million worth of acquisitions from Imagine. It also increases Entertainment Properties’ footprint in what Brain called “a huge new category” for private real estate investment.
“Public charter schools are now a 4 or 5 percent slice of a couple trillion dollar public education real estate market,” Brain said.
Posted: January 24th, 2010 under Education Policy, Schools.
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Pingback from StickWithANose » Charters & Real Estate Speculation
Time: February 17, 2010, 11:02 am
[...] I’ve noted repeatedly, corporate charter school organizations are using their “public” mandates as investment [...]
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