By Patrick Sheridan

The Board of Trustees of the Colorado State University Research Foundation--doing business as CSU Strata--plans to sell $144.4 million of bonds for the construction of student housing at the school's campus in Fort Collins.

CSU Strata will sell $137.2 million of Series 2025 A Student Housing Revenue Bonds structured as five term bonds with maturities ranging from 2035 to 2065, according to a document posted Monday on MuniOS. S Subordinate Series 2025 B term bond for $7.3 million will also be issued. Interest on the bonds will be payable starting on March 1 and again on Sept. 1.

One-on-one calls for potential investors will be held from Dec. 1 through Dec. 3, according to the roadshow document. Pricing is scheduled for Dec. 4, and the securities are expected to be delivered on Dec. 18.

The bonds are special limited obligations of CSU Strata payable solely from and secured by a pledge of payments to be made under the indenture, along with revenue, certain funds and other assets being pledged.

Proceeds will be used for the construction and equipping of a 696-bed, 255-unit student housing facility to be known as The Prospect. The 400,000 square-foot facility is being built to address the need for new student housing at the Fort Collins campus, and to replace an existing facility that doesn't meet Americans with Disabilities Act and safety requirements. The new facility will also have community lounges, multiple study rooms, a pet washing station, and other amenities including a coffee shop/food venue, and a fitness center. Construction is expected to conclude in 2027.

Money from the sale will also be used for a debt service reserve fund, the payment of capitalized interest on the Series 2025 bonds and to cover issuance costs.

S&P Global Ratings issued a BB+ rating on the bonds.

Morgan Stanley and Huntington Capital Markets are underwriters on the offering.

Write to Patrick Sheridan at patrick.sheridan@wsj.com

(END) Dow Jones Newswires

November 25, 2025 14:02 ET (19:02 GMT)

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