News for the Hospitality Executive |
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.
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Contact:
Jeff Sachs, Managing Partner
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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 |