LOS ANGELES (AP) — Former tennis champion Andre Agassi and a real estate venture capital firm have teamed up to form an investment fund to finance buildings for charter schools.
Agassi, who operates an award-winning charter school in Las Vegas, said Thursday the biggest impediment to charter school growth is finding adequate facilities to house students. Agassi’s partner in the fund is a $20 billion Los Angeles-based real estate investment firm, Canyon Capital Realty Advisers.READ MORE: 101 Partially Closed This Weekend
The fund, whose investors include Citigroup and Intel, plans to finance the construction or remodeling of 75 urban school sites over the next three to four years, with the first one in Philadelphia.READ MORE: Walmart Recalls Room Spray For 'Rare And Dangerous' Bacteria Linked To 2 Deaths
The schools also will be built as environmentally sustainable buildings, including elements such as solar power.MORE NEWS: Petition Calls For Banning Real Firearms From Hollywood Sets Following Shooting Death Of Halyna Hutchins
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