June 29, 2017
WHEFA Bond Financing Helps
Haymarket Concepts, LLC Finance Student Housing in Eau Claire
Bonds Placed with Bremer Bank
“We are most grateful to WHEFA for its assistance in securing the financing for the Haymarket Landing student housing. We have a tremendous need at the University of Wisconsin-Eau Claire for more university-sponsored student housing that is safe and secure. The WHEFA bond helps us ensure that we can also manage long-term expenses so they are not passed on to our students. This investment makes such a difference in our ability to meet the needs of the University and help our students.”
— Kimera Way, President,
University of Wisconsin-Eau Claire Foundation
Bond financing facilitated by WHEFA was used to help Haymarket Concepts, LLC refinance an interim taxable loan, the proceeds of which were used to finance the acquisition, construction and equipping of Haymarket Landing, a six-story, 119 unit/400 bed student residence located on the University of Wisconsin – Eau Claire campus and completed in August 2016. This tax-exempt financing process has enabled Haymarket Concepts, LLC to operate more effectively by financing its capital expenses at a lower interest rate (initially 2.47%).
WHEFA is proud to have been able to assist Haymarket Concepts reduce their overall debt service by providing access to low-cost private capital.