October 18, 2016
WHEFA Bond Financing Helps Marquette University Construct and Refinance in Milwaukee
“Marquette is ever mindful of the increasing costs of higher education. By working with WHEFA to finance our capital expenditures at lower rates on a tax-exempt basis, the university is able to operate more efficiently so that we can continue to transform our student experience through projects such as this new residence hall facility.”
— Mary Lou Austin
Sr. Associate Vice President for
Bond financing facilitated by WHEFA will be used to help Marquette University finance or reimburse the costs associated with the acquisition, construction, renovation, remodeling and equipping of a 750-bed student dormitory on the west side of campus consisting of two 6-8 story housing towers of approximately 115,000 square feet each and a dining facility on the lower level. Bond proceeds were also used to refinance bonds previously issued by WHEFA in 2007. The net present value savings following the refinancing was over $5.8 million. This federally tax-exempt financing process has enabled Marquette University to operate more effectively by financing and refinancing its capital expenses at lower interest rates (4.00-5.00%).
WHEFA is proud to have been able to assist Marquette University by reducing their overall debt service and allowing them to grow and compete by providing access to low-cost private capital.