December 7, 2015
WHEFA Bond Financing Helps
Saint John’s Communities, Inc. Refinance in Milwaukee
“WHEFA is a partner we know we can count on. Founded in 1868, Saint John’s has a long history of service to older adults in Milwaukee. Cost effective capital coupled with the experienced, knowledgeable WHEFA team gives us peace of mind allowing us to continue to focus on our mission of enriching lives.”
– Renee Anderson, President
Saint John’s Communities, Inc.
Bond financing facilitated by WHEFA was used to help Saint John’s Communities refinance bonds previously issued by WHEFA in 2009. The net present value savings following the refinancing was approximately $8.7 million. Proceeds of the bond financing will also be used to finance certain capital renovation projects to existing facilities. This federally tax-exempt financing process has enabled Saint John’s Communities to operate more effectively by refinancing its capital expenses at lower interest rates (2.66-5.00%).
WHEFA is proud to have been able to assist Saint John’s Communities by reducing their overall debt service and allowing them to grow and compete by providing access to low-cost private capital.