April 30, 2019
$5,415,000
WHEFA Bond Financing Helps Wisconsin Illinois Senior Housing, Inc. Acquire in Merrill
Bonds Placed with Compass Bank & Compass Mortgage Corporation
“For the past 20 years, WHEFA has been an integral partner to WISH, enabling it to grow from a single facility in Illinois to an organization of 20 licensed facilities (19 in Wisconsin) and 2 Medicare certified home health agencies in Wisconsin. WHEFA’’s willingness to provide this tax-exempt financing vehicle has allowed the Board of WISH to maintain and enhance its mission to serve the elderly population in rural areas of Wisconsin and allocate scarce resources to care and services for those it serves.”
– Robert Siebel, President
Carriage Healthcare Companies, Inc. as Managers for Wisconsin Illinois Senior Housing, Inc.
Bell Tower Residence employs approximately 82 full-time equivalents. WISH employs approximately 897 full-time equivalents in Wisconsin.
Bond financing facilitated by WHEFA will be used to help Wisconsin Illinois Senior Housing, Inc. (“WISH”) finance the acquisition of Bell Tower Residence, Inc., an existing nonprofit community based residential facility, and certain real estate, improvements, and other assets in Merrill, Wisconsin. Proceeds of the bond financing will also be used to finance the renovation and equipping of Fairs Oaks Health Care Center in Crystal Lake, Illinois, including upgraded skilled nursing resident rooms and enhanced common areas.
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.
