November 22, 2016
WHEFA Bond Financing Helps Skaalen Retirement Services, Inc. Expand and Renovate in Stoughton
“The tax-exempt financing savings associated with this financing will help us to achieve our mission now and also give us the flexibility needed to continue the repositioning of our senior care campuses into the future.”
– Kristian Krentz, President / Chief Executive Officer
Skaalen Retirement Services, Inc.
Bond financing facilitated by WHEFA will be used to help Skaalen Retirement Services finance the construction and equipping of a new 33-unit residential care apartment complex of approximately 41,100 square feet on their existing campus in Stoughton, Wisconsin, renovations to and equipping of the existing skilled nursing facilities and the conversion of a portion thereof into a community based residential facility for memory care, together with other capital expenditures and equipment acquisitions. This federally tax-exempt financing process has enabled the borrower to operate more effectively by financing its capital expenses at a lower interest rate (initially 2.80%).
WHEFA is proud to have been able to assist Skaalen Retirement Services by reducing their overall debt service and allowing them to grow and compete by providing access to low cost private capital.