Keiser University borrows $10M to buy 2 campuses

Keiser University obtained a $10 million loan from First Green Bank to acquire two school campuses in Daytona Beach and Orlando.

“Our campuses are located in the heart of the communities they serve and our educational commitment to the local areas remains long-term,” Joseph Berardinelli, Senior Vice Chancellor of Finance, CFO, and Treasurer of Keiser University, said in a prepared statement.

Keiser’s $10 million loan from Orlando-based First Green Bank will finance the university’s acquisition of its Daytona Beach campus at 1800 Business Park Boulevard and its Orlando campus at 5600 Lake Underhill Road.

The university’s Daytona Beach campus, opened in 1995 near the Daytona International Speedway, has about 35,500 square feet of facilities on seven acres.

Keiser’s seven-acre Orlando campus, opened in 2003, has two buildings with a total of 54,000 square feet.

Both campuses have parking, auditoriums, classrooms, laboratories, administrative offices, libraries, student lounges, and space for community events.

First Green Bank, headed by CEO Keith Costello, promotes environmental sustainability by offering reduced-cost commercial real estate loans for properties equipped with solar panels or a LEED certification.

Founded in 1977, Keiser is a private, not-for-profit university serving about 20,000 students and offering 100 degrees at 18 campuses in Florida.