EXPLORE ACADEMY RIO RANCHO
HJ Sims Partners with ExploreAcademy Rio Rancho to Finance
Campus Land Acquisition,Construction, and Refunding
Outstanding Bonds
$31,475,000 EDUCATIONAL FACILITY REVENUE BONDS
SERIES 2025A & 2025B | RIO RANCHO, NM | OCTOBER 2025
“HJ Sims has been an integral partner for many of the Explore Academy schools and we appreciate
their team’s organization and communication every step along the way. They are helpful and thoughtful in their approach to these complex
financing deals, and they have and will continue to be a strong strategic partner for our foundation
and the schools that we support”
-Elisha Baiardo, Explore Academy, Foundation Divergent Management Group
Partnered Right®
Explore Academy Rio Rancho is a state sponsored public charter school located in Rio Rancho, New Mexico, currently serving students from Kindergarten through 8th grade, with plans to expand to grade 12 by the 2029 2030 academic year. Since its founding in 2023, the school has grown steadily, reaching enrollment of 520 and maintaining a waitlist of 485 for the current school year. Explore Academy Rio Rancho’s mission is to provide all students, regardless of background, with a personalized, standards-based educational experience through the power of student choice. The school operates one campus and is undertaking a major expansion by acquiring two new adjacent facilities (6085 Zenith Ct. NE and 7000 Zenith Ct. NE) to accommodate continued growth and enhance student services. To support this initiative, Explore Academy Rio Rancho engaged HJ Sims to structure and underwrite a financing solution that would fund the acquisition, construction, and improvements of the additional adjacent facilities, as well as refinancing the Series 2022 Bonds.
Structured Right®
To meet Explore Academy Rio Rancho’s capital needs for campus expansion and facility improvements, HJ Sims structured a two-series bond offering through the Public Finance Authority. The financing included $29,690,000 in tax-exempt Educational Facility Revenue Bonds (Series 2025A) and $1,785,000 in taxable Educational Facility Revenue Bonds (Series 2025B). Proceeds from the Series 2025 Bonds were allocated toward acquiring and constructing the 6085 Zenith Ct. NE and 7000 Zenith Ct. NE facilities, including the renovation of all three facilities, refunding of the Series 2022 Bonds, and the acquisition of the equipment originally financed through the HJ Sims network of private wealth clients.
Executed Right®
The bonds were priced during the week of September 22, 2025, following a successful nvestor roadshow held on September 10. Despite market volatility, the offering generated strong investor interest, underscoring confidence in the school’s academic vision for its students. HJ Sims provided comprehensive support throughout the transaction, which culminated in a successful bond closing on October 1, 2025. This financing execution highlights HJ Sims’ dedication to delivering tailored solutions and responsive service to its education sector clients.
Financed Right®
The financing for Explore Academy Rio Rancho closed successfully on October 1, 2025, providing the school with the capital needed to expand its facilities and support long-term enrollment growth. The bonds carry a 30-year maturity and were structured to meet investor demand while aligning with the school’s financial projections and strategic goals.
Key benefits of the transaction include:
• Secured $31.475 million in total financing through Series 2025A and 2025 Bonds.
• Funded the acquisition and construction of the 6085 Zenith Ct. NE and 7000 Zenith Ct. NE facilities, as well as refunding the Series 2022 Bonds used to acquire the 6090 Zenith Ct. NE existing campus.
• Enabled reimbursement of pre-development costs, preserving liquidity for the school.
• Supported Explore Academy Rio Rancho’s continued growth, with projected enrollment reaching over 1,200 students by FY2030.
• Delivered a financing structure that aligns with the school’s mission and long-term sustainability.