DALLAS–(BUSINESS WIRE)–Preston Hollow Capital (PHC), an independent specialty municipal finance company based in Dallas, announced today the successful completion of a $38 million tax-exempt bond financing for the City of Hamilton, Ohio.
The bonds will be used to support the redevelopment of the former Champion Paper Mill in Hamilton into a 20-acre sports and entertainment complex. The project will consist of a 650,000 sq. ft. sports complex and a 360,000 sq. ft. hotel property, which will include convention, retail and commercial space in addition to a 235-room hotel.
The bonds were issued by the Hamilton Community Authority and placed with Dallas-based Preston Hollow Capital. Piper Sandler served as underwriter on the financing. Squire Patton Boggs LLP served as bond counsel and Bradley Payne Advisors, LLC served as financial advisor.
“Hamilton is thrilled to partner with a premier financial institution like Preston Hollow Capital,” said Joshua Smith, City Manager of Hamilton. “In uncertain times, it provides comfort knowing we will be advancing a large project over the next few years which will provide jobs and a positive impact to our local economy.”
“We’re proud to have delivered on our commitment toward this exciting project under extraordinarily difficult market conditions,” added Ramiro Albarran, Co-Head of Transaction Originations at Preston Hollow Capital. “PHC’s permanent capital enables us to fund even in disrupted markets, for the benefit of municipalities like Hamilton.”
Andrew Brossart, a Partner at Bradley Payne Advisors said, “PHC’s investment helped make this project a reality. PHC team delivered what they promised on time and with ease of execution.” Richard Hatton, Managing Director at Piper Sandler added, “Preston Hollow offered a creative solution and remained committed through these difficult times.”
About Preston Hollow Capital
Preston Hollow Capital (www.phcllc.com) is the leading solution provider in municipal finance. Headquartered in Dallas, Preston Hollow Capital is an independent municipal finance company with over $1.8 billion in permanent equity capital and over $3.6 billion in investment capacity from a diverse investor base comprised of founding management, institutional investors including funds managed by Stone Point Capital LLC and HarbourVest Partners, and several prominent family offices. Since being founded by Chairman & CEO Jim Thompson in 2014, PHC has closed more than $2 billion in transactions across a variety of sectors of the municipal bond market including healthcare, real estate, K-12 and higher education, infrastructure, senior living, general government and economic development. PHC differentiates itself with its ability to deliver capital with speed, certainty and flexibility.
Contacts
Max Pickle, Preston Hollow Capital, LLC
214.389.0813 [email protected]
