HJ Sims Partners with Hózhó
Academy to Finance Campus
Expansion and Facility
Enhancements
HÓZHÓ ACADEMY Case Study (May 2025)
Academics of Math and Science Case Study (October 2025)
$18,405,000 | October 2025 | Avondale & Mesa, AZ
“We knew that long-term rates made expansion to highneed Arizona communities challenging. But our program is designed for this mission and it is our calling to serve students in need. In partnership with Sims, we were able to offer investors an opportunity to challenge the customary structure with an innovative offering, and also to equip us to make a very positive impact in the communities we serve. The result was a win for students, a win for investors, and a win for AMS.”
Partnered Right®
Academies of Math & Science (“AMS”) is a school network that operates 10 charter schools; 8 are located in metro-Phoenix and 2 are located in
Tucson. Together, the campuses serve 8,646 students from grades K-8. Sims collaborated closely with school management aligning on goals
to build out AMS Mesa, while optimizing financing for its existing operations.
Structured Right®
The $18.405 million financing proceeds were designed to support the construction of the new AMS Mesa campus and the expansion of the
existing Avondale campus. This structure featured a unique approach -a 10 year mandatory tender, the first of its kind in the charter school sector,
which Sims believes lowered the yield by ~100bps. The bonds also included capitalized interest to support the school through the initial enrollment ramp-up.
Executed Right®
Despite a challenging market backdrop during pricing, HJ Sims successfully brought the transaction to the market. The offering received indications of interest from 15 institutional investors, 6 of which were new investors to AMS, and bonds were ultimately allotted across all 15 of them – a massive success for the school.
Financed Right®
In August 2025, HJ Sims successfully placed $18.405 million in unrated, tax-exempt revenue bonds with institutional investors. The transaction
enables AMS to expand capacity and continue serving a growing student population across the metro-Phoenix and Tucson area.
Akshai Patel
602.476.4934
For more information, please contact:
Testimonials may not be representative of the experience of other clients. Past performance is no guarantee of future results
SAN TAN MONTESSORI Case Study (June 2025)
$40,650,000 | June 2025 | Gilbert, AZ
“Our experience with the HJ Sims team has been consistently positive. They are very knowledgeable in the municipal bond space, well-organized throughout the process, and maintain a professional approach from start to finish. We value their reliability and clear communication, and we look forward to continuing to work with their team.
Partnered Right®
San Tan Montessori School (“San Tan”) operates two charter schools in Gilbert, AZ. Together, the campuses serve over 900 students from preschool
through grade 12. San Tan received approval from the Arizona State Board for Charter Schools to open a third campus, the Signal Butte School.
To support this growth, Sims was selected for its deep charter school experience and leading track record in underwriting below investment grade
bonds. Sims collaborated closely with school management aligning on goals to build out a third campus while optimizing financing for its existing
operations.
Structured Right®
The $40.65 million financing proceeds were designed to support the construction of the new Signal Butte Campus, refinance existing debt,
and fund capital improvements. The structure featured multiple long-term maturities for the four term bonds, extending out to 2065, allowing for
manageable annual debt service. The bonds also included capitalized interest to support the school through the initial enrollment ramp-up.
Executed Right®
Despite a challenging market backdrop during pricing, Sims successfully brought the transaction to the market. The offering received indications of interest from 10 institutional investors, and bonds were ultimately allotted across 6 of them — a strong result given volatility in the high-yield
municipal market.
Financed Right®
In June 2025, HJ Sims successfully placed $40.65 million in unrated, tax-exempt revenue bonds with institutional investors. The transaction enables San Tan to expand capacity and continue serving a growing student population across the Phoenix metro area.
Aksjai Patel
602.476.4934
For more information, please contact:
Testimonials may not be representative of the experience of other clients. Past performance is no guarantee of future results
BridgePrep Academy Case Study (July 2025)
Partnered Right®
- BridgePrep Academy (“BPA”) currently operates 20 schools; the Series 2025 Bonds included nine of BPA’s schools
- The nine schools included in the 2025 financing serve approximately 6,200 K-12 students, with enrollment projected to exceed 7,000 by 2030
- HJ Sims collaborated with SMART Management (BPA’s education management organization) to optimize the financing around its existing operations
Structured Right®
- Proceeds of the Series 2025 Bonds were used to 1) fund the acquisition of multiple charter school facilities, 2) fund various capital expenditures, 3) payoff an existing bank loan, 4) fund a debt service reserve fund, and 5) pay bond issuance costs
- The Series 2025 Bonds have a 40-year maturity and were structured with five tax-exempt term maturities and one taxable term maturity
- The Series 2025 Bonds are callable in seven years @ 102%, with the call premium declining to par in nine years
Executed Right®
- HJ Sims successfully priced the Series 2025 Bonds despite a volatile market environment
- The underwriting syndicate secured $486.5 million in orders, a 2.4x oversubscription
- Individual maturities were oversubscribed 1.4 – 5.7x
- 16 institutional investors submitted orders for the Series 2025 Bonds
Financed Right®
- HJ Sims delivered a 40-year fixed rate “Ba1” rated financing for BPA at a true interest cost of 6.35%
- The Series 2025 Bonds enables BridgePrep Academy to continue to expand its capacity to serve students in Florida
Robert Nickell
214.681.0952
Richard Harmon
614.335.7052
For more information, please contact:
Testimonials may not be representative of the experience of other clients. Past performance is no guarantee of future results
2025 National Charter School Conference
Attendees
Sponsor Tier 1
Sponsor Tier 2
Sponsor Tier 3
2024 Year in Review
Check out our 2024 Year in Review below:
2025 Late Winter Conference Recap
Check out our 2025 Late Winter Conference Recap below:
Save the Date
The 23rd Annual HJ Sims Annual Conference will be held February 24th-26th, 2026 at the Marriott Sanibel Harbour Resort & Spa in Fort Myers, FL. Stay tuned for more information soon. We can’t wait to see you there!
For more information, please contact Kat Dymond.
Cornerstone Charter Academy Case Study (October 2024)
HJ SIMS SUCCESSFULLY CLOSED ON THE
$21.960 MILLION SERIES 2024 BONDS
Champion Schools (June 2024)
On June 18, 2024, HJ Sims successfully closed on the $16.175 million Series 2024 Bonds.
Continue readingLa Scuola International School (October 2024)
Sims priced the deal on September 26, 2024 and closed October 8, 2024. The issuance consisted of three term bonds with a final maturity of 40 years. The bonds were nonrated and the first term bond maturing in 2044 has an anytime call option at par. Sims was able to land La Scuola a true interest cost of 5.35%.
Continue readingNortheast Ohio Classical Academy (December 2023)
On December 28, 2023, HJ Sims successfully closed on the $11.3 million Series 2023 Bonds for Northeast Ohio Classical Academy.
Continue readingClackamas Middle College (May 2024)
On May 23, 2024, HJ Sims successfully closed on the $2.83 million Series 2024 Bonds on behalf of Clackamas Middle College (CMC).
Continue readingWestside Neighborhood School (May 2024)
HJ Sims completes $37 million Bank Financing, for campus renewal and replacement projects, at attractive long-term fixed interest rates and terms for New Jersey non-profit LPC – successfully navigating volatile financing conditions.
Continue readingAscent Classical Academy Charter Schools (April 2024)
HJ Sims completes $37 million Bank Financing, for campus renewal and replacement projects, at attractive long-term fixed interest rates and terms for New Jersey non-profit LPC – successfully navigating volatile financing conditions.
Continue readingPrescott Valley Charter School (March 2024)
On March 21, 2024, HJ Sims successfully closed the $11.71 million Series 2024 Bonds, with the majority of the issue purchased by five institutional bond funds. Additionally, approximately $300,000 of the bonds were acquired by HJ Sims’ Private Wealth Management clients.
Continue readingCapital College & Career Academy (February 2023)
HJ Sims successfully closes on $13.9 million Series 2023 Bonds for Sacramento, CA start-up public charter high school, Capital College & Career Academy.
Continue readingKootenai Classical Academy (November 2022)
HJ Sims successfully closes on $13.5m Series 2022 bonds for a start-up classical Idaho public charter school, Kootenai Classical Academy.
Continue readingJohn Hancock Charter School (November 2022)
HJ Sims successfully closes on $25 million Series 2022A&B Bonds for UT-based public charter school, John Hancock Charter School.
Continue readingCincinnati Classical Academy (September 2022)
HJ Sims provides Ohio-based start-up charter school with working capital funded entirely by HJ Sims’ Private Wealth Management clients.
Continue readingShining Rock Classical Academy (August 2022)
HJ Sims closes on $21.395 million series 2022 bonds for North Carolina public charter school, Shining Rock Classical Academy to buy out of their lease on one campus and refinance an existing loan.
Continue readingBC Construction Group: Signs of Stabilization in Construction Cost Inputs
BC Construction Group’s Chip Harp, Vice President, Education Division, weighs in on construction cost inputs for charter schools
Continue readingHigh Point Academy (July 2022)
HJ Sims Successfully Completes $115 Million All Bank Tax-Exempt Financing for New Satellite Campus and Refinancing for Phoebe Ministries, a not-for-profit, multi-facility, Pennsylvania-based organization specializing in healthcare, housing, and support services for older adults.
Continue reading