October 22, 2019
$43,650,000
WHEFA Bond Financing Helps Marquette University Expand and Refinance in Milwaukee
Bonds Underwritten by Barclays and Robert W. Baird & Co.
“To help address the provider gap in primary care, Marquette University constructed a new facility for its nationally ranked Physician Assistant Studies program. The four story, $18.5 million building, which opened to students in time for the fall 2019 semester, facilitates program growth to position it as one of the leading programs in the region and nation. President Michael R. Lovell said ‘Through this expansion, we will graduate even more Jesuit-trained health care leaders each year, many of whom will go on to work in family and emergency medicine, or in underserved areas in Wisconsin and beyond.’”
– Dennis Butler, Comptroller
Marquette University
The project will create approximately 7 permanent jobs with an annual payroll of $402,000. Approximately 568 construction jobs will be created as well. 18 total jobs will be retained with an annual payroll of approximately $1.33 million. Marquette University employs approximately 2,479 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA will be used to help Marquette University finance costs associated with the acquisition, construction, renovation and equipping of a new 43,000 square foot, four-story building for the expansion and relocation of the Marquette University Physician Assistance program. Proceeds of the bond financing were also used to refinance bonds previously issued by WHEFA in 2008. This tax-exempt financing process has enabled Marquette University to operate more effectively by financing and refinancing its capital expenses at a low interest rate (5.00%).
WHEFA is proud to continue its mission of assisting all eligible Wisconsin non-profit institutions to obtain and maintain access to tax-exempt financing in order to finance or refinance their capital improvement and expansion needs.
