Municipal and Infrastructure

Innovative and flexible private capital solutions

Our Municipal and Infrastructure group is focused on providing flexible and creative private capital solutions that meet the needs of for-profit and not-for-profit sponsors in the municipal, infrastructure, healthcare, senior housing, education, project finance and real estate sectors.

Serving the municipal and infrastructure markets since 2008

Our Municipal and Infrastructure capital solutions offer borrowers deal terms that are often unavailable in the public markets. With pricing and structure negotiated upfront, and ORIX USA’s balance sheet supporting its commitments, the team is able to provide a high degree of certainty of key terms prior to execution. Our internally sourced patient capital enables a long-term perspective.

With deep credit and quantitative proficiencies, our experienced investment team has served the municipal and infrastructure markets since 2008. The Municipal and Infrastructure group is supported by the highly rated financial strength and long-term stability of ORIX Corporation (NYSE: IX), one of the world’s largest public companies*.

*Ranked No. 371 On Forbes’ 2023 Global 2000: World’s Largest Public Companies

~$11BTotal commitments

134Borrowers

$1.1BInvested capital

Investment Parameters
Investments of $5 million – $100 million+
Investment Types
Tax-exempt bonds, Taxable loans and bonds, Mezzanine and subordinate debt, Preferred equity, Receivables and developer reimbursements, Senior Secured and Unsecured, Sale Leasebacks, Tax Credits (Alternative Energy, Real Estate)
Flexible Structures
Flexible interest only and call features with maturities ranging from 3-30 years; Customized covenants tailored to asset class and/or sponsor; Taxable and tax-exempt private placements and public offerings

Municipal strategy

Focused on taxable and tax-exempt issuers and projects

We are innovative investors and lenders with a deep and experienced team covering all pricing, structuring, legal and credit disciplines. We can quickly provide pricing and credit terms for a wide range of high-yield financings and can close transactions as taxable and tax-exempt loans, leases, private placements, limited offerings and public offerings.

Our target sectors

Senior Housing

Combining expertise with broad-based industry knowledge, we are a leading investor in private pay seniors housing, deploying tailored capital solutions in senior debt, mezzanine and subordinated debt, and preferred equity.

Investment Targets
  • Not-for-Profit and For-Profit owners
  • New construction and acquisition financing
  • Active adult, independent living, assisted living, memory care
Investment Types
  • Taxable and tax-exempt bonds and loans
  • Mezzanine and subordinate debt
  • Preferred equity

Special District Financing

We invest in a wide range of real estate tax and sales tax based special district financings. OMI draws from its in-house expertise in real estate, municipal finance and law to structure adaptive financings based on the development cycle.

Investment Targets
  • Commercial/Mixed Use/Economic Development
  • Hotel/Hospitality/Convention Center
  • Master Planned Communities and Residential Development District Financings – PID, MUD, MMD, NIDs, CDD, Metropolitan Districts
  • Commercial and Residential Tax Increment Financing – TIF, TIRZ, TAD, CRA, BID, PIF
  • Sales, hotel occupancy, PILOT, and other municipal tax financing
Investment Types
  • Taxable and tax-exempt bonds and loans
  • Receivables and developer reimbursements

Education

We leverage our industry-leading expertise to provide capital to the education sector.

Investment Targets
  • Charter Schools
  • Private K-12 Schools
  • Public and Private Higher Education
  • Student Housing
Investment Types
  • Taxable and tax-exempt bonds and loans
  • Mezzanine and subordinate debt
  • Preferred equity

Healthcare

We combine broad-based healthcare industry knowledge with tailored financing solutions in the healthcare space. Deploying capital in all forms, including senior secured and unsecured debt, mezzanine and subordinated debt, and preferred equity to a wide variety of healthcare providers and adjacent businesses.

Investment Targets
  • Acute Care Hospitals
  • Critical Access Hospitals
  • Replacement Hospitals
  • Rehab – Short Term and Long Term
  • Behavioral Health
  • Life Sciences
  • Distressed/Restructuring Healthcare
Investment Types
  • Tax-exempt and Taxable bonds and loans
  • Mezzanine and subordinate debt

Infrastructure strategy

Invests in infrastructure projects and platform companies

We invest in a full range of infrastructure, utility, alternative energy, and project financings. Combining extensive industry expertise with deep financial resources, we work with municipalities and private sponsor clients to deploy customizable financing.

Our target sectors

Investment Targets

  • Water and Sewer, Solid Waste and Waste-to-Energy
  • Power
  • Public Private Partnership/Privatizations
  • Roads, toll roads, bridges/tunnels, rail, cargo, ports
  • Parking
  • Airports and fixed based operators (FBOs)

Investment Types

  • Taxable and tax-exempt bonds and loans
  • Senior Secured and Unsecured
  • Mezzanine and subordinate debt
  • Equity

Impact Investing

We are an experienced investor in asset classes committed to generating a positive social impact, including infrastructure, housing, sustainable energy, and other essential services.

Investment Targets

  • Renewable Energy
  • CPACE
  • Affordable Housing
  • Healthcare
  • Education
  • Transportation

Investment Types

  • Taxable and tax-exempt bonds and loans
  • Mezzanine and subordinate debt

 

All data as of March 31, 2024 unless otherwise noted.

Transactions

  • $29.55 Million

    Bridge Loan

    Multifamily

    Arizona

  • $26.25 Million

    First Mortgage Construction Loan

    Self-Storage

    California

  • $46 Million

    Senior Construction Loan

    Multifamily

    Oregon

  • $42.3 Million

    Senior Construction Loan

    Multifamily

    Arizona

  • $29.5 Million

    First Mortgage Construction Loan

    Student Housing

    California

  • $24 Million

    Senior Construction Loan

    Multifamily

    Oregon