In March 2025, Radnor was selected to be The University of Akron’s (“UA”) development partner and lead transaction coordinator for a revitalization and monetization initiative encompassing UA’s entire on-campus student housing portfolio totaling 2,552 beds. In terms of bed count, this comprehensive partnership ranks among the largest privatized campus housing projects in the United States.

Critically, Radnor’s approach balanced transaction size with student affordability, enabling UA to continue offering some of the most cost-effective housing rents among its in-state university peers. The project was structured as an integrated public-private partnership (“P3”) utilizing a Design, Build, Finance, Operate, Maintain (“DBFOM”) delivery method. Achieving credit-neutral or credit-positive rating agency treatment was a key priority for UA; accordingly, Radnor facilitated an early ratings assessment process for the contemplated transaction to confirm a favorable outcome well in advance of financial closing in late 2025.

Radnor Campus Management, a joint venture between Radnor and COCM, serves as property manager through a unique shared governance structure with UA’s Residence Life department. Radnor Campus Management commenced operations of UA’s housing portfolio in June 2025.

The revitalization program consists of renovation, demolition, and new construction across nine existing student housing communities. New construction includes major redevelopments of Bulger and Spanton Halls, featuring a new one-story addition that connects the entrances of both buildings for consolidated security and enhanced lobby areas. Renovation work will upgrade four newer mid-rise residence halls—Honors Hall, Exchange Apartments, Spicer Hall, and South Hall—during consecutive summers in 2026 and 2027. Following careful analysis, Radnor and UA jointly determined that three older low-rise residence halls—Ritchie Hall, Sisler-McFawn Hall, and Orr Hall—were uneconomical to maintain and are slated for demolition.

Financial closing was achieved in December 2025 through a publicly syndicated, insured tax-exempt bond issuance rated AA by S&P (BBB- underlying, without insurance). The project is currently in the predevelopment stage, with redevelopment and renovation work commencing in Spring 2026. Substantial completion is scheduled for Summer/Fall 2027.

To learn more about the revitalization initiative, visit UA’s Residence Life project description page here: https://www.uakron.edu/reslife/new-student-housing