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The $160 million Financing of the 532-room Hilton Columbus (Ohio) Downtown
a Mix of Local Equity and  Build America Bonds Enabled by the 2009
American Recovery and Reinvestment Act (ARRA)

 
February 5, 2010 - Strategic Advisory Group announces, acting as financial advisor and development manager, the financing of the 532-room Hilton Columbus Downtown.  The $160 million financing combined local equity with the Build America Bonds tool enabled by the 2009 American Recovery and Reinvestment Act.  “The ability to use the ARRA BABs tool helped make this project work”, noted Jeff Sachs, Managing Partner of Strategic Advisory Group.  “The Franklin County Convention Center, City and County have been trying to get this project off the ground for a number of years.  The combination of low interest rates and low construction costs made the project work.”

The bonds were sold by a team led by PNC Capital Markets LLC, with support by The Huntington Investment Company and Rice Financial Products Company. 
 
The atrium hotel, designed by Hellmuth, Obata & Kassabaum and Moody Nolan, with interior designer Simeone Deary Design Group, will be attached to the convention center via an enclosed walkway and offer 23,000 square feet of meeting space, including a 12,500 square foot ballroom.  The hotel is being constructed by Turner Construction Company and Smoot Construction Company and is scheduled to open in the late summer of 2012. 
 
Strategic Advisory Group is full service financial and real estate development advisory firm headquartered in Atlanta with offices in Los Angeles, Philadelphia, Tampa and Wilmington.   SAG offers comprehensive services beginning with project conception and continuing on with feasibility assessment, implementation, and project opening.  
 

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Contact: 

Jeff Sachs, Managing Partner
(678) 584-0705
jeff.sachs@strategicadvisorygroup.net
 

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Also See: The Hyatt West Hollywood Undergoing Transformation to the Andaz West Hollywood, Global Hyatt's First Andaz in the U.S. / September 2008
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