The Special District Group, a real estate finance practice group that leads the nation in special district financing, marks a major milestone this month, celebrating 45 years raising early-stage capital for real estate development and five years as a part of Piper Sandler.
Founded in 1980 by Tom Bishop, the Special District Group has developed unique financial tools to fund the public infrastructure needs of growing communities. Over the course of 40 years, the group operated under the umbrella of several firms, ultimately joining Piper Sandler’s public finance investment banking business in 2020 to facilitate its national expansion.
“We joined Piper Sandler because of their commitment to our team and alignment with our vision,” said Zach Bishop, head of the Special District Group and a 20-year veteran of the team. “Since joining the firm, we have experienced incredible growth across the board including our team, the markets we serve, and the products that we deliver to our clients.”
The Special District Group built a market-leading presence in the Colorado metro district space and under the leadership of Sam Sharp expanded into Utah, Texas, and high-growth states nationwide. The team has raised more than $25 billion in capital and in the process created or innovated upon many of the tools that are now commonplace including Metropolitan Districts and Special Improvement Districts in Colorado, Public Infrastructure Districts and Infrastructure Financing Districts in Utah, and Municipal Utility District Receivables in Texas.
In addition, the Special District Group has been involved in managing the legal and regulatory framework in the states where they operate, ensuring fairness amongst property owners and investors who are engaged in the process of raising capital for development. This included the creation of Colorado’s Metro District Education Coalition in 2019, work on dozens of bills in Colorado, and helping to pass multiple laws in Utah promoting the availability of responsible early-stage capital.
“The need for attainable housing is acute across all of the markets in which we do business,” said Bishop. “It’s important that we are involved in the legislative process so that capital can flow to communities with a growing need for infrastructure.”
The team has also continued to grow. With offices in Denver, Salt Lake City and Houston, the Special District Group is now comprised of 30 dedicated professionals with market-leading experience who live and work in the places where they raise capital. Giving back to these communities is a significant priority for the team, which has a Community Impact Committee that organizes events in each region. In the past five years the team has contributed more than 600 volunteer hours, spanning 50 charitable events for 15 unique organizations including HomeAid Colorado, HomeAid Utah and NeighborWorks America.
Celebrating 45 years is a significant milestone of the Special District Group, but there’s even more runway ahead of them.
“This industry has seen incredible growth in the last five years, and we don’t anticipate it will slow down,” said Bishop. “We are excited for the opportunity to continue to innovate alongside our clients to alleviate capital constraints and deliver more attainable housing across the country.”
