Wake Forest University Administrative Office Building
In 2025, Provident was proud to have been selected to partner with Wake Forest University to expand and modernize their campus footprint with a Class-A administrative office building.
Project Completion
and Impact Overview
In December 2025, Provident and the Wake Forest University team reached financial close on the long-term tax-exempt financing of the University’s brand new 130,500 sq ft administrative building project. The Bonds were financed through the Public Finance Authority and sold by Bank of America.
Financing
The Bonds were issued as long-term, fixed-rate obligations with a final stated maturity in 2035. The financing structure contemplates a refinancing or restructuring at or prior to maturity to extend amortization over the remaining useful life of the Project.
Development &
Management
Developers for the Project are Carter Development, in conjunction with Front Street Capital, respectively. Management for the Project will be provided by Brailsford & Dunlavey.
Community Impact
The Project supports Wake Forest University’s long-term academic and administrative mission by delivering modern, efficient facilities while preserving institutional capital for core educational priorities. By utilizing a long-term financing structure aligned with the Project’s useful life, the University is able to advance campus development, enhance operational efficiency, and generate lasting economic benefits for the surrounding community through job creation, increased local spending, and sustained investment in Winston-Salem.