BALTIMORE, MD. The Maryland Economic Development Corporation (MEDCO) has engaged The Scion Group to provide an independent-party analysis of revenues and expenses and to develop recommendations on improving financial performance at housing properties on three Maryland public university campuses.
MEDCO owns the properties and is concerned about their ability to meet debt service coverage obligations. Scion will apply lessons learned from operational reviews at dozens of campuses, normative data from the Institute of Real Estate Management and its own experience in operating student housing facilities. Scion’s services include reviewing historical financial and marketing information, analyzing the market to address each property’s competitive position and evaluating design and delivery of residence life programming.
MEDCO assists in the expansion, modernization and retention of existing Maryland business and in attracting new business to the state. It is empowered to borrow money and issue revenue bonds on a non-recourse basis, without obligation of the State of Maryland, in pursuit of its mission to increase productive employment in Maryland and expand the state’s economy and tax base.