Plenary Justice Miami issues US$ 310 million bonds to finance the courthouse P3

Subscribe to our newsletter and get the latest news and business opportunities in your inbox

Plenary Justice Miami LLC, an SPV responsible for the design, build, finance and maintenance of a civil courthouse to be developed in downtown Miami, has issued US$ 310 million worth bonds in a senior secured note. These bonds will help to partially fund the investment required for the courthouse development. The bonds have acquired rating of A2 from Moody's investor services. The rating reflects the strong collective experience of the project owners and their portfolio of building and high rise construction projects. The rating also considered availability payments from the authority.

The project involves the replacement of the existing 1928 courthouse on Flagler Street. The new larger 23-story building will be built next door. The courthouse will have around 600,000 sqft of building area, with 46 finished courtrooms at completion, chambers and all support services; ability to accommodate expansion to a total of 50 rooms by 2035 through the repurposing of either restricted space, public space, or interim use space, the latter which may initially be designed as shell space.

List of the country updates

Country updates

  • January 24, 2020

    Energy Capital Partners raises US$6.8bn for Fund IV and co-investment pools

    Energy Capital Partners (ECP) has announced the closing of its flagship ECP Fund IV, with capital commitments of US$3.3 billion. ECP also raised an additional $3.5 billion for co-invest...

    Read more
  • January 22, 2020

    RFP issued seeking private developer for Mixed-use development in Bonita Springs

    The city of Bonita Springs in the USA has issued a request for proposals (RFP) seeking a private developer to design, build, finance a mixed-use development opportunity in the city of Bonita Spri...

    Read more
  • January 21, 2020

    New York City launches Internet Master Plan

    Mayor of New York City in the USA has announced the New York City Internet Master Plan, a vision for affordable, high-speed, reliable broadband service across all five boroughs of the city that o...

    Read more
  • January 20, 2020

    Memphis international airport to develop travel plaza on PPP

    Memphis-Shelby County Airport Authority (MSCAA) in the USA is planning to issue a request for a proposal for the Travel Plaza project on public-private partnership procurement in Memphis Int...

    Read more
  • January 17, 2020

    Stamford public schools project put on hold

    The Board of Representatives for Stamford public schools in Connecticut has voted to hold on whether to fund the city´s plans to redevelop Stamford public schools. The project included the rede...

    Read more

Share this update