May 5, 2022

 

$43,448,490

WHEFA Bond Financing Helps Eastcastle Place, Inc. Reposition and Refinance in Milwaukee

Bonds Placed with Old National Bank and Bremer Bank

“Being a Not-For Profit community allows us to make an impact on the Eastside of Milwaukee.  As a premier Life Plan Community Eastcastle Place offers services, amenities and healthcare options to seniors and our surrounding community members.”
   –   Tyler R. Gudex, Executive Director
   Eastcastle Place, Inc.

Bond financing facilitated by WHEFA will be used to help Eastcastle Place reposition its healthcare operations by moving assisted living into the current healthcare building, renovating the current Memory Care neighborhood, and right sizing the health care operation.  Additionally, 30 new Independent Living units will be constructed within the current building footprint.  Finally, the common areas and spaces will be renovated and additional amenities for residents will be included.  Bond proceeds were also used to refinance certain bonds previously issued by WHEFA in 2015.  This tax-exempt financing has enabled Eastcastle Place to operate more effectively by financing and refinancing its capital expenses at low interest rates.

WHEFA is proud to continue its mission of assisting all eligible Wisconsin nonprofit institutions to obtain and maintain access to tax-exempt financing in order to finance or refinance their capital improvement and expansion needs.