To obtain 1,300 new beds as soon as possible by the 2020 academic year, Purdue pursued a Public-Private Partnership (P3).

Purdue engaged JLL to lead the solicitation and procurement process for a transformative renovation of Purdue’s Memorial Union ground floor retail dining area and a partner to operate their entire retail dining portfolio of 30 current retail locations and five future locations. JLL supported the University at key stages of the process by performing a detailed financial analysis of the proposed partnership demonstrating the financial implications to the University. In conjunction with Purdue’s procurement team, JLL led the solicitation process and drafted an RFP for the opportunity, then generated market interest for the opportunity by conducting marketing sounding calls with potential partners. JLL evaluated proposals and helped Purdue negotiate the deal with the selected private partner, which closed in the Spring of 2020. The transaction resulted in a significant upfront payment from the partner to the University that would fund a large portion of the required renovation, as well as an ongoing revenue sharing arrangement to provide a stable source of income to Purdue.

JLL also supported Purdue on the Purdue Memorial Union hotel management agreement after a donor made a significant contribution to support renovations to the hotel. JLL reviewed the hotel management agreement and advised on key business terms helping the university finalize the agreement in alignment with the best interests of the University.