December 23, 2016
WHEFA Bond Financing Helps Evergreen Retirement Community, Inc. Expand in Oshkosh
“The extremely competitive cost of capital provided by the WHEFA facilitated bond financing has allowed Evergreen to reposition its campus without a significant impact on the rates charged to our residents. This has allowed Evergreen to make significant improvements in our product offerings while remaining competitive in the market.”
– John Krueger, Chief Financial Officer
Evergreen Retirement Community, Inc.
Bond financing facilitated by WHEFA will be used to help Evergreen Retirement Community finance the construction and equipping of a new 109,000 square-foot, three-story addition on the north side of the Evergreen campus to contain up to 62 new independent living units. The project will also include the relocation of the campus main entrance, additional parking, a new library and more common spaces. This federally tax-exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at a lower interest rate (2.50%).
WHEFA is proud to have been able to assist Evergreen Retirement Community by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.