EagleBank Provides More than $10 Million via Bond Issuance in Support of Sela Public Charter School Renovation Projects
August 08 2023 - 6:00AM
EagleBank (NASDAQ: EGBN), one of the largest community banks in the
Washington, D.C. area, today announced it has successfully executed
bond issuance and a loan closing on $10,200,000 via Series 2023
Tax-Exempt District of Columbia Industrial Revenue Bonds to support
the fee simple acquisition and upcoming construction project
renovations for Sela Public Charter School.
Sela Public Charter School opened in 2013 in
Ward 4, is a one-of-a-kind charter in the District for offering a
bilingual curriculum that includes the Hebrew language. Since its
inception, Sela has earned a Tier 1 ranking by the DC Public
Charter School Board, a Blue Ribbon School by the US Department of
Education in 2022 and rated “Best Elementary School in DC” by the
Washington City Paper. This high-performing charter school program
now has a permanent campus and real estate asset to support the
existing and future growth of the school and its students.
“Owning our building will allow us to create an
optimal learning environment for our diverse student body and for
our unique dual language program. We look forward to building on
our current success of serving students from all eight wards in
Washington, DC, and to growing that community to ensure even more
students have the benefit of our programs that support students
becoming global citizens who take action in the world,” said Ryan
Benjamin, Director of Operations, Sela PCS. “It has been a genuine
pleasure to work with EagleBank on the financing deal for our
building purchase and future renovation. We are grateful to
Jonathan Beall and his team at Eagle, as they were helpful, patient
and thoughtful in guiding Sela through the financing process.”
The transaction was handled by EagleBank’s
experienced commercial real estate team, including Senior Vice
President, C&I Relationship Manager Jonathan Beall, Vice
President, C&I Portfolio Underwriting Manager Karim Ghorayeb,
Officer, C&I Portfolio Administrator Karen McCadden and C&I
Portfolio Manager Isaac Abebayeu.
“We are thrilled to have reached the successful
conclusion in a nearly twelve-month effort to support Sela Public
Charter School,” said Lindsey Rheaume, Executive Vice President and
Chief Lending Officer C&I. “EagleBank has supported numerous
public charter schools across the Washington, DC region, and we are
grateful to be the preferred partner and collaborator in support of
advancing equitable public choice education for our community.”
About Sela Public Charter
School
Sela is diverse-by-design, Hebrew-language
immersion elementary and pre-school in Ward 4. We offer our
students an academically rigorous, dual-language program in English
and Hebrew for grades PreK3 through 5. Global citizenship is a main
instructional focus. It includes the development of student skills
in communication (including learning Hebrew), collaboration, and
critical thinking. We develop empathy in students by learning in a
diverse school community.
Eagle Bancorp, Inc. and EagleBankEagle Bancorp,
Inc. is the holding company for EagleBank, which commenced
operations in 1998. EagleBank is headquartered in Bethesda,
Maryland, and conducts full service commercial banking through 20
offices, located in Suburban, Maryland, Washington, D.C. and
Northern Virginia. EagleBank focuses on building relationships with
businesses, professionals and individuals in its marketplace.
EagleBank ContactVikki KayneChief Marketing
Officer301.986.1800
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