In late November 2019, Loggerhead Marinelife Center (LMC) entered into a financial services agreement with Northern Trust as its bond-based financial services provider for the Centerâ€™s Waves of Progress capital expansion. While fundraising continues for the expansion, the financial partnership also supported by the Town of Juno Beach will allow the Center to take advantage of exceptional financing during the construction phase.
The Centerâ€™s unique portfolio continues to enjoy explosive growth and influence in Florida and internationally. The 27,000 square-foot extension will:
- Double the sea turtle patient capacity and add additional advanced equipment
- Deploy a state-of-the-art clean water hospital filtration system
- Significantly expand the research laboratory
- Offer six-times the amount of interactive STEAM educational spaces
- Launch informative and educational clean water ecosystem exhibits
- Deploy new large-scale meeting spaces for global collaborators and symposiums
The Center increased the campaignâ€™s original goal from $14 million to $20 million to implement a pumping and advanced water filtration system, to ensure a safe recovery of its sea turtle patients regardless of local water quality conditions. The Center has raised over 65 percent of the campaignâ€™s total goal of twenty million dollars in less than three years.
â€œIt is an honor to have Northern Trust as our campaignâ€™s financial partner,â€ said Jack E. Lighton, LMC President and CEO. â€œNorthern Trustâ€™s innovative portfolio of services and exceptional local market knowledge is critical as we pioneer such a momentous turning point in our Centerâ€™s history. As the world rallies around conservation and sustainability, our partnership with Northern Trust will enable us to expand our state-of-the-art education and conservation portfolio at a rapid pace, increasing ocean and sea turtle conservation worldwide.â€
â€œLoggerhead Marinelife Center is an iconic landmark that draws national and international attention to the importance of our oceans and sea turtle conservation,â€ said Daryn M Kirchfeld, Senior Managing Director of Northern Trust. â€œWe look forward to working with Loggerhead Marinelife Center as they continue to grow, educate and positively impact our ocean ecosystem.â€
The Waves of Progressexpansion campaign launched in 2017 after the Centerâ€™s record-breaking year of welcoming more than 350,000 guests. The facility is one of the most esteemed, cultural destinations in Palm Beach County. The Center offers free admission and is committed to removing financial barriers to learning. Lighton remarked, â€œOur mantra is, the sea turtle tells us the health of the ocean, and the ocean tells us the health of our planet. We continue to discover scientifically-based and emotional connections to our work. We invite the community to join our campaign, so together, we can monumentally increase our impact here in Florida and around our planet.â€
Help the Center make Waves of Progress! Visit LMCâ€™s website and make your mark on the expansion by exploring naming opportunities.