A company connected to the Texas-founded IDEA charter school system has purchased approximately 15 acres off Plank Road for a planned third campus in Baton Rouge.
According to sales documents, IPS Innovation LLC bought the property for $10 “and other valuable consideration” from Maxco Development LLC, represented by Richard Preis.
Buck Financial Advisors, an advising firm that specializes in charter school financing, served as financial adviser for the deal and wrote on its website that the $16 million total in construction loans should close within the next two months and will finance the construction of an approximately 75,000-square-foot facility.
The school is expected to open next fall in temporary facilities and will move into the new campus in January 2022.
