MIAMI LAKES, Fla. (September 6, 2013) – BankUnited today announced it closed a $25 million direct purchase of tax-exempt bonds to Lynn University in Boca Raton to refinance existing debt and bond proceeds. Bridge Capital Leasing is the bond holder.
The original bond issuance financed capital improvements on the 123-acre Boca Raton campus of Lynn University, 3601 N. Military Trail.
Michael Woody, BankUnited senior vice president, was the lending officer responsible for closing the deal, working closely with Lynn University President Kevin Ross, and Laurie Levine, chief financial officer of Lynn University. Skip Miller of Greenspoon Marder served as bank’s counsel. Mark Raymond served as bond counsel and borrower’s counsel.
“BankUnited is helping pave the way for us to continue to build out our campus to accommodate a growing student body,” said Ross. “With a number of new buildings going up on our campus, including a new home for our College of Business, stadium and planned residence halls, we are pursuing our vision to be one of the most innovative, international and individualized small, private universities in the country.”
Lynn University is celebrating its 50th anniversary year. Last year the University was in the national spotlight as host of the final 2012 presidential debate.