Kutak Rock served as Special Arizona Counsel to PAFAF I Phoenix LLC in connection with the issuance of the $78,735,000 of The Industrial Development Authority of the City of Phoenix, Arizona Lease Revenue Bonds (Mayo/Brooks Rehabilitation Facility Project), Series 2024A and $1,810,000 of The Industrial Development Authority of the City of Phoenix, Arizona Lease Revenue Bonds (Mayo/Brooks Rehabilitation Facility Project), Series 2024B (Federally Taxable).

Proceeds of the Series 2024 Bonds, together with other available moneys, (a) financed the cost of acquiring, constructing and equipping an approximately 82,000 square foot inpatient rehabilitation facility campus and related improvements, including a parking lot and other facilities to be constructed on an approximately 8.126 acre parcel of real property located adjacent to Mayo Clinic Arizona’s Phoenix Campus on the northeast side of Mayo Boulevard in Phoenix, Arizona, (b) funded any required reserve funds for the Series 2024 Bonds, (c) funded capitalized interest on the Series 2024 Bonds, and (d) paid certain costs and expenses incidental thereto.

Fred Marienthal, Kate Starick and Heather Puckette worked on this transaction.