UK Johnson Entry Approach

News & Updates Signet Real Estate Group Closes Financing for University of Kentucky Sports Center Garage & Johnson Recreation Center Expansion

 

Lexington, KY — Signet Real Estate Group is pleased to announce the successful closing of $102 million in financing for the University of Kentucky’s Sports Center Garage (PS7) and Johnson Recreation Center expansion project. This milestone marks another significant development in the longstanding partnership between Signet and the University of Kentucky. 

Developed by Signet Real Estate Group, this project includes a 1,200-space parking structure and a 50,000 square foot expansion of the Johnson Recreation Center, significantly enhancing campus infrastructure and student amenities. This public-private partnership is a critical step in preparing for the University’s planned Chandler Hospital expansion project and Healthcare campus. Construction is already underway for the project and is expected to be completed by December 2026 

Once completed, the Johnson Center expansion will feature new spaces on the building’s north and south sides, along with renovations throughout, including: 

  • A multi-purpose activity court, 
  • An expanded weightlifting area with an outdoor lifting space, 
  • Outdoor court areas 
  • And a 60-foot-tall climbing wall with a dedicated bouldering section. 

“This project exemplifies our commitment to providing distinctive and impactful development solutions tailored to the evolving needs of institutions like the University of Kentucky,” said Spencer Hyatt, Senior Vice President of Signet Real Estate Group. “We are proud and grateful to continue our partnership with the UK in supporting their vision for improved quality of life for students, faculty, and the surrounding community.” 

The development team for the project includes Messer Construction and Ross Tarrant Architects.  RBC Capital Markets arranged the financing on behalf of the University and Signet, with Signet Capital, Frost Brown Todd, and Baird also assisting in the transaction.  

About Signet Real Estate Group 
Signet Real Estate Group is a leader in the development, management, and financing of transformative real estate projects. With a diverse portfolio spanning student housing, healthcare, and mixed-use developments, Signet Real Estate is dedicated to enhancing communities and delivering value to its partners and residents.