#United States #Canton #BGL Advisors #Hall of Fame Village #C-PACE financing

Securing Financial Growth: BGL Real Estate Advisors' New Venture

Brown Gibbons Lang & Company (BGL), renowned for its expertise in investment banking and financial advisory, has recently finalized a significant deal that is set to enhance the Hall of Fame Village (HOFV) in Canton, Ohio. The firm has structured a remarkable $135 million in real estate financing, aimed specifically at facilitating the conclusion of an indoor waterpark and the construction of a new hotel.

The BGL Real Estate Advisors team acted as exclusive financial advisors to HOFV Holdings during this intricate transaction. Notably, this deal incorporates $70 million in Commercial Property Assessed Clean Energy (C-PACE) financing, which has also achieved distinction as the largest single C-PACE loan ever issued in the state of Ohio for such a project.

The funds will primarily be allocated to support the ongoing development of an expansive 85,000-square-foot indoor waterpark, designed to attract visitors with its exciting aquatic attractions, alongside initiating construction on a 183-key hotel situated conveniently near the Pro Football Hall of Fame.

Jared Schlosser, the head of Credit Originations and C-PACE at Peachtree, expressed the pivotal role that C-PACE financing plays in today’s commercial real estate sector, stating, “C-PACE has emerged as one of the most effective financing tools in today's commercial real estate market.” He highlights how it addresses immediate capital needs while concurrently considering long-term asset requirements. By offering long-term fixed-rate capital, C-PACE facilitates funding for critical building systems, thus aiding owners in preserving liquidity and alleviating pressures on senior debt—an essential strategy in the current economic climate characterized by prolonged interest rate increases.

BGL's successful closure of $33.4 million in C-PACE financing for the Tom Benson Hall of Fame Stadium within the HOFV Campus back in July 2022 now complements the current financing, cumulatively raising Peachtree’s total investments in the Hall of Fame Village to an impressive $103.4 million through C-PACE financing alone.

The Hall of Fame Village operates as a resort-style destination owned by Hall of Fame Resort & Entertainment Company, which recently transitioned from being public to private after merging with HOFV Holdings—an entity linked to developer Industrial Realty Group. This shift not only enables investment into the destination's development but supports sustainable initiatives focused on community engagement and holistic value creation.

BGL's advisors are well-versed in offering enhanced real estate investment banking services to middle-market clients. Their comprehensive suite includes solutions for real estate advisory, debt structuring, and fundraising for financial restructurings, recapitalization, as well as asset acquisitions and dispositions across various asset categories.

About Brown Gibbons Lang & Company

Brown Gibbons Lang & Company, a premier independent investment banking and financial advisory firm, specializes in catering to the global middle market. With its advisory teams based across major U.S. cities including Boston, Chicago, Cleveland, Los Angeles, and New York, BGL provides strategic insights on mergers and acquisitions, financial restructuring, and capital market activities. Their extensive operational reach allows them to serve clients in 30 countries around the globe, backed by their affiliation with Brown Gibbons Lang & Company Securities, LLC, a registered broker-dealer.

About Hall of Fame Village

Hall of Fame Resort & Entertainment Company is a multi-functional sports, entertainment, and media hub located in Canton, Ohio, centered around the iconic Pro Football Hall of Fame. The forthcoming projects are set to significantly elevate the village's status as a leading attraction, enriching both visitor experiences and community relations.