2022-07-07 | NDAQ:HOFV | Press Release

CLEVELAND, July 7, 2022 /PRNewswire/ — Brown Gibbons Lang & Business (BGL) is delighted to announce the financial closing of $33.4 million for the Tom Benson Corridor of Fame Stadium at the Hall of Fame Village run by Johnson Controls in Canton, Ohio. The venture was refinanced by Stonehill PACE’s retroactive Commercial Property Assessed Clear Power (C-Rate) application. BGL’s Genuine Estate Advisors group served as the special financial advisor to the Hall of Fame Resort & Enjoyment Enterprise (NASDQ: HOFV) in the transaction.

This economic closing is the most significant C-Tempo transaction in the Point out of Ohio.

The Corridor of Fame Vacation resort & Entertainment Firm (HOFV) is a top sporting activities, enjoyment, and media organization headquartered in Canton, Ohio. Established in 2020, the publicly traded firm is the final result of a company mix between HOF Village, LLC — a partnership between the Professional Football Hall of Fame and Industrial Realty Team (IRG) established in 2016 — and Gordon Pointe Acquisition Corp (GPAQ). Less than the management of seasoned government Michael Crawford, President & CEO of Hall of Fame Resort & Leisure Enterprise, HOF Village is poised to capitalize on its distinctive partnership with professional soccer. This platform permits for the ongoing advancement of an built-in vacation resort sophisticated that is the Hall of Fame Village, as very well as other gaming and media verticals.

The themed, experiential, place masterplan of the Corridor of Fame Village features three Phases. Section I is finish and involves the Tom Benson Hall of Fame Stadium, Corridor of Fame Village Sports Complicated, and the recently renovated DoubleTree by Hilton Canton Downtown lodge. Section II is underway and, when completed, will involve the Constellation Centre for Excellence, which been given certification of occupancy in October 2021, the Centre for General performance, the Admirer Engagement Retail Promenade, the Perform Motion Plaza, a Hilton Tapestry Lodge, and the Corridor of Fame Indoor Waterpark, as perfectly as an expansion of the Sports Complex, now named Permanently Garden Sporting activities Complex. A potential Phase III is also in the early preparing stages, and could include things like added sights, eating, lodging, flats, and other lodging. The Corridor of Fame Village campus is also property to the Professional Soccer Hall of Fame Museum, and although underneath individual ownership, the aligned synergies enhance this destination masterplan.

Building of the Tom Benson Corridor of Fame Stadium was considerably accomplished in 2016, with continued advancement of the East Conclusion Zone and Constellation Heart for Excellence west conclusion zone video clip display screen in 2021. The Tom Benson Corridor of Fame Stadium holds up to close to 23,000 spectators and hosts multiple sports activities and amusement gatherings, like the NFL Hall of Fame Sport, Enshrinement, and Live performance for Legends all through the yearly Pro Soccer Hall of Fame Enshrinement Week, as effectively as other leading sporting situations these kinds of as the Historic Black College or university Hall of Fame Sport, USFL championship game titles, and the Ohio State Substantial College Soccer Championships, and is house to the Canton McKinley Higher Faculty Football Group.

The Stadium is also outfitted with reduce-absent seats, allowing it to provide as an elite live performance venue. The Stadium has hosted performances by countrywide recording artists these as Aerosmith, Tim McGraw, Pitbull, Toby Keith, and Maroon 5, with approaching performances by Journey and Dave Chappelle planned for the 2022 Enshrinement weekend gatherings.

Stonehill Pace is a leader in C-Pace funding for enhancement assignments, making liquidity for suitable tasks under design and not long ago finished. This financial closing is the largest C-Rate transaction in the Point out of Ohio, and Stonehill’s next greatest C-Speed transaction nationwide.

“This transaction with the Hall of Fame Resort & Amusement Corporation showcases how C-Speed financing is an advantageous funding alternative for different property kinds,” stated Jared Schlosser, Stonehill Senior Vice President and Head of Stonehill Rate. “Our capacity to supply choice financing alternatives, such as C-Tempo, has permitted various initiatives like the Corridor of Fame Village to come to fruition with fees and constructions that have benefitted all get-togethers.”

This is the 3rd Speed funding completed at the Hall of Fame Village, with $10.7 million leveraging the Constellation Heart for Excellence, a 75,000-square-foot blended-office and retail component, and the Heart for Functionality, a 100,000-square-foot exhibition hall and athletic general performance space.

BGL’s True Estate Advisors Team delivers complete actual estate expense banking services personalized to the center marketplace. It delivers consumer-focused solutions with an emphasis on authentic estate advisory, debt, preferred and private fairness placement, fiscal restructuring, recapitalizations, sale-leasebacks, structured finance, and asset acquisitions and dispositions across all asset courses. The workforce helps serious estate proprietors and developers looking to form alliances and joint ventures with solitary-resource money companies to get regional and institutional obtain for all cash wants.

About Brown Gibbons Lang & Organization

Brown Gibbons Lang & Enterprise (BGL) is a foremost unbiased investment decision bank and economic advisory company concentrated on the international center current market. The organization advises private and public businesses and non-public fairness teams on mergers and acquisitions, cash marketplaces, money restructurings, valuations and opinions, and other strategic matters. BGL has expense banking places of work in Chicago, Cleveland, and Philadelphia, and actual estate offices in Chicago, Cleveland, Denver, and San Antonio. The firm is also a founding member of Global M&A Partners, enabling BGL to company clientele in a lot more than 30 nations around the world all over the planet. Securities transactions are conducted by Brown, Gibbons, Lang & Enterprise Securities, Inc., an affiliate of Brown Gibbons Lang & Business LLC and a registered broker-dealer and member of FINRA and SIPC. For far more facts, remember to pay a visit to https://www.bglco.com/.

About the Hall of Fame Resort & Leisure Enterprise

Corridor of Fame Resort & Amusement Company (NASDAQ: HOFV, HOFVW) is a vacation resort and enjoyment company leveraging the electrical power and reputation of qualified soccer and its famous gamers in partnership with the Pro Soccer Corridor of Fame. Headquartered in Canton, Ohio, the Corridor of Fame Resort & Amusement Corporation is the operator of the Corridor of Fame Village run by Johnson Controls, a multi-use sports, entertainment and media spot centered close to the Pro Soccer Hall of Fame’s campus. More facts on the Firm can be found at www.HOFREco.com.

About the Corridor of Fame Village powered by Johnson Controls

Corridor of Fame Village driven by Johnson Controls is a multi-use sports, enjoyment and media desired destination centered all-around the Professional Soccer Hall of Fame’s campus in Canton, Ohio. Owned by the Hall of Fame Vacation resort and Entertainment Business (NASDAQ: HOFV, HOFVW), the Village currently has about $250 million well worth of belongings below administration and is just one of the greatest ongoing building tasks in Ohio. Period I of the project entailed the building of the Tom Benson Hall of Fame Stadium, a world-course 20,000 seat, sporting activities and enjoyment stadium, and the Corridor of Fame Village Sporting activities Complex. Period II, currently less than construction, will include the Constellation Centre for Excellence, the Heart for General performance, a Admirer Engagement Zone, a Corridor of Fame indoor waterpark and a Hilton Tapestry Resort. Period III is at this time in arranging stages. For extra information, take a look at www.HOFVillage.com.

(PRNewsfoto/Brown Gibbons Lang & Company)

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