N.C. A&T Real Estate Foundation plans to use acquired financing to renovate residence halls and the Alumni-Foundation Event Center

EAST GREENSBORO, N.C. – May 6, 2025  – The North Carolina A&T Real Estate Foundation is announcing the closing of its third major financial transaction in just over a year, marking a significant milestone in its ongoing commitment to enhance the campus experience and support university growth. The $43.4 million bond-financed transaction will fund the renovation of three key residence halls and campus facilities, including Pride Hall, Aggie Suites E & F and the Alumni-Foundation Event Center.

Leaning into the new N.C. A&T State University Chancellor James Martin II’s theme, “Now, Next & Beyond,” this latest deal adds to the Real Estate Foundation’s extraordinary streak of activity, totaling more than $100 million in transactions in only 13 months.

“N.C. A&T State University is committed to providing excellent education, quality student experiences and progressive innovations,” said Chancellor Martin. “As an exponential university expanding and diversifying at speed and scale, we maintain a relentlessly forward-facing vision — one that embraces strategic real estate development, community engagement and long-term institutional growth.”

With the two major construction efforts launching this summer, including the ongoing development of The Resurgent and the renovation of existing residence halls — the Real Estate Foundation is moving at an unprecedented pace under Kimberly Cameron’s leadership.

“The closing on May 1 was more than just a financial milestone — it’s a reflection of the Real Estate Foundation’s mission to support N.C. A&T State University’s strategic goals for growth and elevate the student experience,” said Cameron, executive director – N.C. A&T Real Estate Foundation. “We’re thrilled to be driving both innovation and improvement across the campus.”

Enhancing Student Living with Critical Upgrades

Backed by a combination of tax-exempt and taxable bond financing (2025A/B Series), the renovation project will address long-standing design issues and modernize core infrastructure in several student residence halls. Highlights include:

• Correcting 20-year-old designs to improve functionality and accessibility
• Upgrading HVAC and plumbing systems to reduce maintenance requests
• Enhancing air circulation for a healthier environment and improve energy efficiency
• Increasing privacy in shared bathrooms
• Updating areas of the Alumni-Foundation Event Center with technology improvements in the ballrooms, a new HVAC and new roof

“These improvements go beyond aesthetics—they’re about delivering safer, more comfortable and more equitable housing for our students and improved campus facilities,” said Cameron, adding that the Real Estate Foundation is deeply committed to the well-being and success of the campus community.

Building on a Year of Success

The transaction follows two other major financial closings that occurred in 2024:

• March 2024: A $32 million deal using New Markets Tax Credit (NMTC) financing and private equity to launch construction of The Resurgent, a five-story office and community hub developed in partnership with Cone Health
• October 2024: A $28 million bond-financed acquisition of University Landing and University Park, adding 350 beds to the Foundation’s housing portfolio

Combined, these deals showcase the Real Estate Foundation’s evolving role as a dynamic engine for campus and community development.

“Being in constant deal-closing mode for nearly two years has allowed us to capitalize on market opportunities and move forward with projects that will better serve our students and East Greensboro,” said Cameron.

As the Real Estate Foundation enters the summer with two major projects underway, it remains steadfast in its mission: to support the university’s strategic growth and deliver value to its students, partners and the wider community.

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About Preservation Greensboro

Preservation Greensboro Incorporated (PGI) provides resources to enhance a distinctive sense of heritage and has helped Greensboro maintain a tradition of adaptive reuse, renovation and recycling. For more than 50 years, PGI has promoted architecture and neighborhoods through activities such as education tours, special events, seminars and publications. With diverse initiatives such as Architectural Salvage of Greensboro, Blandwood Museum & Gardens, and educational events, PGI provides a constant voice in the community for revitalization efforts, an improved local economy and quality of life and the conservation of historic resources. For more information, please visit preservationgreensboro.org or follow-on social media Facebook, Instagram, YouTube, Pinterest, LinkedIn and X.

About North Carolina A&T Real Estate Foundation

Chartered March 9, 1946, the North Carolina A&T University Foundation, Inc. was repurposed to the North Carolina A&T Real Estate Foundation. In 2015, the Foundation engaged in a strategic planning process, which resulted in a decision to rename the Foundation and narrow its mission. The North Carolina A&T Real Estate Foundation’s primary purpose is to acquire, own, transfer, sell, develop, build and manage real estate or real estate-related projects in support of the University. For more information, please visit the website, or follow the North Carolina A&T University Foundation on Facebook or LinkedIn.

Media Contacts:

Frances Chang
communications 21, on behalf of N.C. A&T Real Estate Foundation, Inc.
fchang@c21pr.com
404.814.1330

or

Kimberly Cameron, Executive Director
N.C. A&T Real Estate Foundation, Inc
kacameron@ncat.edu