Weekly Market Update

COLLABORATION BETWEEN UNIVERSITIES AND STARTUPS IS RESHAPING URBAN REAL ESTATE

Thursday, August 9, 2018

In recent years, as many universities have struggled to fund operations and research, some have formed partnerships with startups and tech firms to build STEM facilities, incubation hubs, innovation districts, and startup spaces, often in urban settings, in hopes of monetizing research. Examples of urban university expansion projects include the Cornell Tech campus on Manhattan's Roosevelt Island, Harvard University's Allston Yards, and Drexel University's Schuylkill Yards. These public-private partnerships have demonstrated universities' ability to lead urban development. While many cities work to lure tech companies, collaborations between universities and businesses may enable some cities to grow their local economies and tax bases sustainably by fostering innovation of their own.

In Other News

Rating Agency Update

  • Moody's affirmed University of Montana's Aa3 rating. The outlook is stable.
  • Moody's and S&P assigned Aa3 and A+ rating, respectively to Boston University's Series CC Taxable Revenue Bonds. Moody's outlook is stable and S&P's outlook remains positive.
  • Moody's affirmed Colby College's Aa2 rating. The outlook is stable.
  • Moody's affirmed Marist College's A2 rating. The outlook is stable.
  • Moody's affirmed the University of North Texas System's Aa2 rating. The outlook is stable.
  • Moody's affirmed Connecticut College's A2 rating. The outlook is stable.
  • Moody's affirmed Adams State University's A3 rating. The outlook remains negative.
  • S&P affirmed the College of Creative Studies' BBB+ rating on its Series 2015 Revenue Bonds. The outlook is stable.
  • S&P assigned BBB+ to Burrell College of Osteopathic Medicine LLC's Series 2018 Revenue Bonds. The outlook is stable.