CLEVELAND, July 7, 2022 /PRNewswire/ — Brown Gibbons Lang & Firm (BGL) is delighted to announce the money closing of $33.4 million for the Tom Benson Hall of Fame Stadium at the Corridor of Fame Village powered by Johnson Controls in Canton, Ohio. The project was refinanced via Stonehill PACE’s retroactive Industrial Residence Assessed Clean Power (C-Pace) program. BGL’s Real Estate Advisors crew served as the distinctive economic advisor to the Corridor of Fame Vacation resort & Entertainment Firm (NASDQ: HOFV) in the transaction.
This monetary closing is the most significant C-Tempo transaction in the Point out of Ohio.
The Corridor of Fame Vacation resort & Amusement Organization (HOFV) is a major sporting activities, entertainment, and media enterprise headquartered in Canton, Ohio. Established in 2020, the publicly traded corporation is the consequence of a business enterprise mixture among HOF Village, LLC — a partnership amongst the Pro Football Hall of Fame and Industrial Realty Group (IRG) proven in 2016 — and Gordon Pointe Acquisition Corp (GPAQ). Below the leadership of seasoned govt Michael Crawford, President & CEO of Hall of Fame Vacation resort & Leisure Company, HOF Village is poised to capitalize on its special partnership with expert soccer. This system will allow for the ongoing development of an integrated resort elaborate that is the Hall of Fame Village, as perfectly as other gaming and media verticals.
The themed, experiential, spot masterplan of the Hall of Fame Village involves three Phases. Stage I is comprehensive and incorporates the Tom Benson Hall of Fame Stadium, Hall of Fame Village Sporting activities Elaborate, and the newly renovated DoubleTree by Hilton Canton Downtown resort. Phase II is underway and, when concluded, will contain the Constellation Center for Excellence, which obtained certificate of occupancy in October 2021, the Center for Efficiency, the Lover Engagement Retail Promenade, the Participate in Motion Plaza, a Hilton Tapestry Hotel, and the Hall of Fame Indoor Waterpark, as well as an growth of the Sporting activities Intricate, now named Eternally Lawn Sports activities Complicated. A long run Stage III is also in the early scheduling phases, and could incorporate more points of interest, dining, lodging, flats, and other lodging. The Corridor of Fame Village campus is also household to the Pro Football Hall of Fame Museum, and whilst below different possession, the aligned synergies complement this desired destination masterplan.
Building of the Tom Benson Hall of Fame Stadium was substantially concluded in 2016, with continued improvement of the East Finish Zone and Constellation Center for Excellence west conclusion zone online video screen in 2021. The Tom Benson Corridor of Fame Stadium retains up to around 23,000 spectators and hosts several sports and enjoyment activities, together with the NFL Corridor of Fame Game, Enshrinement, and Concert for Legends for the duration of the yearly Professional Soccer Hall of Fame Enshrinement Week, as well as other leading sporting activities this sort of as the Historic Black School Hall of Fame Activity, USFL championship games, and the Ohio Point out High School Soccer Championships, and is property to the Canton McKinley Substantial Faculty Football Staff.
The Stadium is also equipped with lower-absent seats, letting it to provide as an elite concert location. The Stadium has hosted performances by nationwide recording artists these types of as Aerosmith, Tim McGraw, Pitbull, Toby Keith, and Maroon 5, with upcoming performances by Journey and Dave Chappelle planned for the 2022 Enshrinement weekend activities.
Stonehill Pace is a chief in C-Tempo funding for growth initiatives, developing liquidity for suitable initiatives less than building and not long ago concluded. This monetary closing is the largest C-Tempo transaction in the State of Ohio, and Stonehill’s next major C-Tempo transaction nationwide.
“This transaction with the Hall of Fame Vacation resort & Entertainment Business showcases how C-Tempo financing is an useful funding choice for various residence varieties,” stated Jared Schlosser, Stonehill Senior Vice President and Head of Stonehill Speed. “Our skill to provide choice financing options, which includes C-Pace, has allowed quite a few projects like the Corridor of Fame Village to occur to fruition with premiums and structures that have benefitted all events.”
This is the third Speed funding finished at the Corridor of Fame Village, with $10.7 million leveraging the Constellation Heart for Excellence, a 75,000-square-foot combined-office and retail ingredient, and the Middle for Functionality, a 100,000-sq.-foot exhibition corridor and athletic overall performance place.
BGL’s Genuine Estate Advisors Team provides comprehensive actual estate investment decision banking services tailored to the middle market place. It supplies consumer-targeted methods with an emphasis on real estate advisory, financial debt, most popular and private equity placement, fiscal restructuring, recapitalizations, sale-leasebacks, structured finance, and asset acquisitions and inclinations across all asset lessons. The team helps serious estate proprietors and builders wanting to sort alliances and joint ventures with solitary-source funds providers to obtain area and institutional entry for all capital wants.
About Brown Gibbons Lang & Enterprise
Brown Gibbons Lang & Company (BGL) is a leading impartial investment decision lender and monetary advisory company concentrated on the international middle industry. The company advises private and community firms and personal equity teams on mergers and acquisitions, cash markets, fiscal restructurings, valuations and thoughts, and other strategic issues. BGL has financial investment banking places of work in Chicago, Cleveland, and Philadelphia, and true estate offices in Chicago, Cleveland, Denver, and San Antonio. The organization is also a founding member of World M&A Partners, enabling BGL to support purchasers in extra than 30 international locations close to the entire world. Securities transactions are executed by Brown, Gibbons, Lang & Firm Securities, Inc., an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-supplier and member of FINRA and SIPC. For additional facts, remember to visit https://www.bglco.com/.
About the Corridor of Fame Resort & Enjoyment Corporation
Corridor of Fame Resort & Enjoyment Organization (NASDAQ: HOFV, HOFVW) is a resort and leisure organization leveraging the electrical power and reputation of skilled football and its famous gamers in partnership with the Professional Football Hall of Fame. Headquartered in Canton, Ohio, the Corridor of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media desired destination centered close to the Pro Soccer Hall of Fame’s campus. More info on the Organization can be discovered at www.HOFREco.com.
About the Hall of Fame Village run by Johnson Controls
Corridor of Fame Village powered by Johnson Controls is a multi-use sports activities, entertainment and media desired destination centered close to the Pro Football Corridor of Fame’s campus in Canton, Ohio. Owned by the Corridor of Fame Vacation resort and Leisure Enterprise (NASDAQ: HOFV, HOFVW), the Village currently has about $250 million really worth of belongings below management and is just one of the largest ongoing construction tasks in Ohio. Stage I of the job entailed the design of the Tom Benson Corridor of Fame Stadium, a earth-class 20,000 seat, sporting activities and leisure stadium, and the Corridor of Fame Village Sports activities Complicated. Section II, now under design, will insert the Constellation Center for Excellence, the Heart for Functionality, a Enthusiast Engagement Zone, a Hall of Fame indoor waterpark and a Hilton Tapestry Resort. Stage III is presently in preparing stages. For far more info, take a look at www.HOFVillage.com.
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