March.04.2022
Orrick advised the Board of Regents of the University of California (UC) on the UC Davis Aggie Square mixed-use development project, located on the UC Davis Sacramento campus. At an approximate overall value of $620 million, the project will feature state-of-the-art research facilities, academic space, a mixed-use residential and office space and outdoor amenities. Construction is anticipated to start in the summer of 2022.
First announced in April 2018, Aggie Square is a public-private partnership between UC Davis, Wexford Science and Technology and the City of Sacramento. The project is expected to generate significant economic growth in Sacramento and the surrounding region.
The cross-practice Orrick team advised on Pre-Development Reimbursement Agreements, Term Sheets, Ground Leases, Premises Lease Agreements, a Shared Use Agreement, a Master Parking Agreement and numerous ancillary agreements, as well as on matters relating to formation of an Enhanced Infrastructure Financing District and Community Facilities District.
The team that advised the Board of Regents of the University of California included E&I of counsel Stephan Wagner, Real Estate partner Dustin Calkins, Public Finance partner Patricia Eichar, Real Estate senior counsel Chris Chavez and Real Estate senior associate Daniel Rothberg, among others.
“This deal required nearly two years of negotiations between UC Davis and Wexford Development, so we’re thrilled to see it successfully close,” states Steve. “We value our partnership with the University of California and look forward to future real estate collaborations,” adds Dustin.