Kleinbard had been representing Global Leadership Academy for several years when the school’s Board of Trustees decided to look for a new location in West Philadelphia at which to consolidate its two existing campuses. Kleinbard lawyer Michael Frattone, who has extensive experience in the Education and Charter Schools industry, and Bernie Kolodner, head of the Firm’s Real Estate Group, guided the school throughout the process of acquiring a new building at 4601 Girard Avenue and completing a $13 million renovation project.
Our efforts initially involved the negotiation of an agreement of sale to acquire the existing building, as well as representation of the school in connection with a bridge loan to finance the acquisition. Following the building’s purchase, the Firm drafted and negotiated agreements with a construction manager, architect, owner’s representative, and several subcontractors in connection with its renovation.
Additionally, the Firm acted as school counsel in connection with obtaining $13 million in tax-exempt financing through PAID in order to pay off the bridge loan and finance the renovation project.
Today, 4601 Girard Avenue is a 60,000-square-foot, state-of-the-art learning environment that offers students a gymnasium, cafeteria/auditorium, art room, library, and science laboratory.