Houston Community College System – Northwest College – Town & Country Campus

Houston Community College System

Northwest College

Town & Country Campus

In June 2000, The Keystone Group, Inc., an affiliated entity, acquired an existing facility where Houston Community College System had a long-term traditional operating lease. Keystone simultaneously negotiated a lease amendment with the college converting the lease to a long-term capital lease. Under the amended structure, Keystone was able to make additional square footage available to the College and increase its parking capacity, while maintaining its committed lease rate and providing ownership opportunity under a capital lease program.

  • Acquisition of existing 154,850 square foot facility
  • Made available 154,850 square foot versus 110,919 square foot under existing operating lease
  • Provided additional acreage to increase student parking by 15% at no additional cost to college
  • Lowered combined lease cost by $1.50+ per square foot
  • Freed up $9.8 million in encumbered funds
  • Predetermined lease rate
  • Subject to annual appropriations
  • $1.00 purchase option at end of lease term