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May 24, 2016 04:34 AM EDT

Cornell University Receives A Whopping $25 Million Donation To Expand School's MBA Program!

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Cornell University in Ithaca, New York has received a $25 million gift from a high-yield bond investor and alumnus, David Breazzano to its Samuel Curtis Johnson Graduate School of Management for an under-construction office and classroom building situated in the city's Collegetown neighborhood.

In a statement the school noted that the six-story building will be named Breazzano Family Center for Business Education, and is awaiting board's approval. Scheduled to open in the summer next year, the 76,000-square-foot building will boast four large tiered classrooms as well as a flexible flat-floor classroom that can further be divided into two separate classrooms.

In addition, the building will feature two high-definition broadcast studios and has the ability to accommodate student project teams in thirty open spaces as well as forty-two breakout rooms, PhilanthropyNewsDigest reported.

The under-construction facility will be connected to the Samuel Curtis Johnson Graduate School of Management, the school said Tuesday.

The donation that sincerely supports Johnson's faculty, also plays a crucial role in propelling Johnson to its next stage of growth, Hunter R. Rawlings III, Cornell's interim president noted in the statement.

The donation from Breazzano, co-founder and chief investment officer at DDJ Capital Management, who graduated from the Samuel Curtis Johnson Graduate School of Management in 1980, also contributes $4 million for the Breazzano Family Faculty Excellence Fund as well as current-use support through the Johnson Annual Fund.

DDJ Capital Management started in 1996 and is located in Waltham, Massachusetts. The firm specializes in loans and high-yield bonds and boasted a $7.27 billion in assets as of March 31, DDJ Capital's spokesman Jack O'Connor divulged.

Aside from the management school, the Charles H. Dyson School of Applied Economics and Management, the School of Hotel Administration will also be under the Cornell College of Business, Bloomberg reported.

Breazzano's $25 million gift is one of the most substantial donations the Cornell's business education ever received.

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