Two campuses, one county, one bond
The organization
Crestwell Higher Learning School Inc is an independent 501(c)(3) operating continuously since 1994. The Fort Myers campus serves 330 Pre-K–8 students on 6.5 acres with an experiential, learning-by-doing program: STEM with 1:1 technology, athletics from grade 1, visual arts, music and theater, and small class sizes. The school is not faith-based, not classical, and not Montessori; it occupies a distinct position in the Southwest Florida independent-school market.
The land deal
| Site | ~10 acres, all uplands, cleared and filled, at the hard corner of Corkscrew Rd & Burgundy Farms Rd with 650'+ of arterial frontage. County water at the boundary (hydrant on site); sewer extension en route along Corkscrew; power at the corner. |
| Price | $4,375,000, under letter of intent, subject to independent appraisal during diligence with good-faith adjustment. |
| Structure | $1.5M at an initial closing with title transferring to the school; the seller carries the $2.875M balance interest-free as a purchase-money mortgage, retired in full at project financing close (within 12 months, extendable to 24), at which point the construction and bond lenders take unencumbered first lien position. |
| Diligence | 90 days, terminable at the school's sole discretion: environmental, entitlement path (county pre-application), utilities, survey and title, appraisal. |
| Risk containment | If project financing does not close, the seller's sole remedy is retaking title and retaining the initial payment; no recourse to the school's operations or existing campus. |
| Alignment | The seller's requested protection is a covenant that the land be used for a school: a mission-aligned counterparty who lives in the corridor. |
Why this structure suits a bond financing: the land is controlled and titled early at minimal capital outlay, the seller's lien extinguishes automatically at bond closing, and the school's maximum pre-financing exposure is capped and known.
The capital plan
A single tax-exempt bond issue is contemplated to fund both halves of the growth plan:
- Fort Myers buildout: developing the remaining 4 undeveloped acres and replacing four portable classrooms with permanent facilities at the proven, enrolled campus.
- The Estero campus: a purpose-built Pre-K–8 campus on the 10-acre Corkscrew Road site now under negotiation (letter of intent at $4,375,000, subject to appraisal and a 90-day diligence period covering environmental, entitlement, and utility confirmation).
The structure combines a 32-year operating history and audited financials with a new-market expansion: the established campus anchors the credit while the Estero campus captures the growth corridor. Debt sizing will follow a formal third-party feasibility study, with enrollment modeled conservatively against the corridor's documented demand.
Why the two campuses don't compete with each other
The campuses split the county, not the customer base. The current campus sits at the center of its market: its family distribution is balanced around it (32% NE / 32% SE / 22% NW / 15% SW). The Estero site serves territory where the school today has only five families, because a 40-minute drive suppresses what the demand data shows should be a much larger draw, and where the school currently draws zero families from Bonita Springs and North Naples, 15 minutes from the new site. The overlap band is narrow and known (the Gateway and San Carlos ZIPs), and will be explicitly modeled in the feasibility study.
Site and timeline
| Milestone | Window |
|---|---|
| Land under LOI; purchase agreement negotiation | Sept 2026 |
| Due diligence: entitlement path, environmental, utilities, appraisal | ~90 days |
| Land closing (seller-financed structure; balance retired at bond closing) | Late 2026 / early 2027 |
| Zoning approval for school use (public hearing process) | 2027 |
| Bond issuance; construction start | 2027-28 |
| Campus opening | Target 2028-29 |
The site: 10 cleared, filled, all-uplands acres with 650'+ of Corkscrew Road frontage at a hard corner, county water at the boundary, sewer extension en route, and direct arterial access planned via a county-approved connection.
What we're asking of financing partners
We are in early conversations with public-finance partners experienced in 501(c)(3) education facilities. We're seeking perspective on structure (rated vs. unrated, public offering vs. placement, obligated-group design), debt capacity against our financials, and the path to an issuance aligned with the zoning and construction calendar above. Our data room, feasibility materials, and management team are available for full due diligence.