借款人ERE425, LLC将使用债券收益来融资收购、建设、翻新和装备两个现有公寓单位，总面积约14万平方英尺，位于布朗克斯区Westchester Avenue 425号的一栋建筑内。该设施将租赁给Zeta Charter Schools，用作学前班至八年级的学校。资金还将用于支付债务发行成本以及其他费用。
Zeta Charter Schools是纽约市一个免学费公立学校网络，分布在布朗克斯区、皇后区和曼哈顿上城。根据其网站介绍，Zeta致力于"通过整合社会情感学习和世界级学术课程的全人教育方法重新定义教育"。
S&P Global Ratings对这些债券给出BB+评级。
Raymond James担任此次发行的承销商。
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