May 10, 2017
WHEFA Bond Financing Helps PHW Germantown, Inc. Construct in Germantown
Bonds Underwritten by Cross Point Capital, LLC
“Working with WHEFA was once again a smooth and seamless process. The access to tax exempt bonds through them will help keep the project beautiful and affordable for many years to come.”
— Mark Meyer, Chief Financial Officer
Presbyterian Homes and Services
Bond financing facilitated by WHEFA will be used to finance the acquisition, construction, and equipping of a new 152-unit senior housing project on a 30-acre site in the Village of Germantown to be known as Fairway Knoll. Fairway Knoll will consist of approximately 92 independent senior living apartments and approximately 60 assisted living apartments (approximately 18 of which will be assisted memory care apartments), underground parking, and a two-story town center area. This federally tax-exempt financing process has enabled PHW Germantown, Inc. to operate more effectively by financing its capital expenses at a lower interest rate (initially 4.91%).
WHEFA is proud to have been able to assist PHW Germantown, Inc. reduce their overall debt service by providing access to low-cost private capital.